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United Parcel Service Inc

BUSINESS
December 6, 2008 | Times Wire Reports
FedEx Corp. said it would boost 2009 rates for freight shipments by an average of 5.7%. The increase covers FedEx Freight and FedEx National LTL, the Memphis, Tenn.-based company said. United Parcel Service Inc.'s UPS Freight announced a general rate increase of 5.9% on Oct. 17.
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BUSINESS
October 18, 2008 | From Times Wire Services
United Parcel Service Inc. announced a general rate increase of 5.9% for 2009. Atlanta-based UPS, the world's largest package delivery company, will raise ground shipment rates by an average of 5.9% and increase rates on air express and international shipments from the U.S. by an average of 4.9%. The rate hikes will take effect Jan. 5.
BUSINESS
July 9, 2005 | From Associated Press
United Parcel Service Inc. expanded its operations in China, announcing that it would offer express package service across much of the country by September. The Atlanta-based company said it was the first foreign company to own its operations in the communist nation. UPS will take over 23 locations in China, a move based on a December deal reached with UPS' longtime partner China National Foreign Trade Transportation Corp.
BUSINESS
October 25, 2005 | From Bloomberg News
United Parcel Service Inc. said it would stop delivering cigarettes to U.S. individuals after state attorneys general said the practice aided underage smoking. UPS follows DHL Worldwide Express, a unit of Deutsche Post, in agreeing to stop the shipments, which the attorneys general said contributed to illegal sales. The companies will still deliver cigarettes to licensed retailers or distributors. UPS, based in Atlanta, will end shipments to consumers Nov. 21.
BUSINESS
April 9, 2008 | From Times Staff and Wire Reports
United Parcel Service Inc. lowered its first-quarter earnings forecast, citing higher fuel costs. The company, considered a bellwether of U.S. economic activity, now expects earnings at 86 to 87 cents a share, compared with its previous range of 94 to 98 cents. Shares of UPS fell more than 3.5% in after-hours trading. They fell 47 cents to $73.31 during the regular session.
BUSINESS
March 25, 2005 | From Associated Press
The executive board of the pilots union at United Parcel Service Inc. has approved holding a strike authorization vote after protracted contract talks between the two sides broke down, the union said. The giant shipping company, however, denied that negotiations were at an impasse. The two sides have been in federal mediated talks since June but have been unable to reach agreement on issues involving scheduling, scope, compensation, pension and benefits. Shares of UPS fell 6 cents to $72.
BUSINESS
February 12, 2002 | Bloomberg News
FedEx Corp. said profit this quarter and next may exceed forecasts because it's shipping more packages by ground and carrying more mail for the Postal Service. The largest overnight delivery company said shipments at FedEx Ground may increase 20% in the quarter ending Feb. 28 as revenue per package rises 5%. The unit also is taking some package-shipment business from the Postal Service and United Parcel Service Inc.
BUSINESS
March 15, 2006 | From Bloomberg News
United Parcel Service Inc. said it was investigating possible violations of U.S. law at its freight management unit. UPS said in a regulatory filing that it had notified the Justice Department and Securities and Exchange Commission this month of the investigation at its Supply Chain Solutions unit. The Atlanta-based company said "a small number of former employees" might have engaged in conduct outside the U.S. that violated the country's Foreign Corrupt Practices Act.
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