Coronavirus
XPO Connect Adds Functions Inspired by COVID-19 Trends
XPO Logistics added last-mile capabilities to its digital freight platform in response to consumer trends since the coronavirus pandemic began, the company said Aug. 5.
August 7, 2020Mnuchin Says Trump to Take Executive Action as Stimulus Talks Stall
Treasury Secretary Steven Mnuchin said he’ll recommend President Donald Trump move ahead with executive action on unemployment aid, evictions and student loans after another round of negotiations with Democrats on a virus relief plan ended without any agreement.
August 7, 2020USPS Loses $2.2 Billion in 3 Months as Virus Woes Persist
The U.S. Postal Service says it lost $2.2 billion in the three months that ended in June as the beleaguered agency — hit hard by the coronavirus pandemic — piles up financial losses that officials warn could top $20 billion over two years.
UPS to Levy Holiday Surcharges as Home Deliveries Climb
United Parcel Service Inc. will apply hefty surcharges on its biggest customers during the holiday peak season to help manage an avalanche of residential deliveries spurred by the coronavirus pandemic.
Supply Chain Risk Grows as Weary Crews Halt Ships and Clog Ports
A new risk to global supply chains is emerging as exhausted seafarers stuck offshore for months halt work, a breaking point caused by restrictions on crew changes amid coronavirus precautions.
US Adds 1.8 Million Jobs in Sign That Hiring Has Weakened
The United States added 1.8 million jobs in July, a pullback from the gains of May and June and evidence that the resurgent coronavirus is weakening hiring and the economic rebound.
Global Stocks Erase 2020 Losses Amid US Rally
A gauge of global equities erased its losses for the year as U.S. stocks climbed on optimism that officials will come to terms on fresh economic stimulus. Gold extended gains amid speculation interest rates will stay low for longer.
UPS, FedEx Gear Up to Ship COVID-19 Vaccine When Ready
UPS and FedEx are among the companies hard at work on strategies to ship a COVID-19 vaccine safely around the world once it is ready.
Oil Seesaws With Demand Woes Offsetting Tighter Supply Picture
Oil swung between gains and losses as uncertainty over the prospect of a U.S. virus relief bill that could boost fuel consumption offset signals of tightening global supply.
White House, Democrats Locked in Standoff as Deal Deadline Looms
The White House and congressional Democrats are locked in a standoff over the size and breadth of a new virus relief package, with their self-imposed Aug. 7 deadline for a deal looming.
August 6, 2020