Australia’s bid to sell state-owned infrastructure to help fund new projects will form a centerpiece of its Group of 20 agenda as the nation bets its plan to spur jobs is as relevant in Moscow, Mumbai and Michigan as it is in Melbourne.
The U.S. Postal Service will end a same-day delivery experiment in San Francisco by March 1 after it couldn’t find enough retailers to participate and got only $760 in revenue, the agency’s inspector general said.
The U.S. Postal Service’s regulator has approved price increases amounting to 6 percent on most mail, a step the service’s board called a “last resort” forced by Congress’s failure to pass cost-cutting legislation.
Royal Mail Group Ltd., the U.K. postal service that sold shares in an initial public offering last year, said like-for-like sales gained 2 percent in the first nine months of the year boosted by parcel deliveries.
Amazon.com Inc., the world’s largest Web retailer, reported fourth-quarter revenue and profit that trailed analysts’ estimates after sales growth slowed outside the U.S. and holiday shipping costs surged.
On Oct. 11, the U.K. government sold a majority stake in Royal Mail Plc, the British postal service, in an initial public offering. Interest from both retail and institutional investors was strong. When the trading frenzy died down, two names emerged with large positions: Lansdowne Partners Ltd. and The Children’s Investment Fund Management UK LLP.