August 28, 2013 10:15 AM, EDT
Businesses Concerned About Possible Postal Service Rate Hikes

Private-sector businesses are concerned that the U.S. Postal Service will consider broad rate increases next month, The Hill newspaper reported Wednesday.

Industries that use mail services heavily, including magazines, marketers and banks, say a sharp hike in rates would hurt their bottom lines, the newspaper said.

The Postal Service’s board of governors plans to hold a private meeting Sept. 5 that will touch on several issues, including pricing, The Hill reported.

The service lost a record $15.9 billion in fiscal 2012, mostly from defaults on required prepayments for future retirees’ health care, The Hill said. Its losses this year declined to $3.9 billion in the first nine months of the current fiscal year.