FedEx Corp. suspended about 1,400 customers of its Freight shipping service earlier this month, a move that surprised customers and was aimed at easing a congested network taxed by relentless package volume.
Amazon Prime Day, Fed’s stress tests, and Nike, FedEx earnings dominate the week ahead for investors.
United Parcel Service Inc. is exploring a same-day option, a delivery model that has been employed by gig-economy players, as the pandemic has accelerated the shift to e-commerce.
FedEx has pledged $1 million towards the Indianapolis 4/15 Survivors Fund, which will provide direct financial assistance to the families of the eight victims killed, as well as several others injured or suffering psychological trauma, as a result of the April 15 shooting at the company's Ground-Plainfield Operations Center at 8951 Mirabel Road in Indianapolis.
FedEx issued a statement Friday following a shooting at one of the company's ground facilities in Indianapolis that killed at least eight people and wounded several others.
Police say at least eight people were shot and killed and several others injured Thursday after a gunman opened fire at a FedEx facility near the Indianapolis airport.
FedEx has been handling a surge in e-commerce orders during the Covid-19 pandemic as more people shop from home. Executives said Thursday they expected that trend to persist even as vaccines roll out.
Thursday's event will be Powell's last outing before the Fed's policy-making committee convenes March 16-17
The company didn't specify which cities are seeing the greatest impacts as a result of the winter storms that continue to bring freezing rain, snow and subfreezing temperatures to areas of the U.S. from Oregon, the Midwest, southern Plains to the Deep South.
The company says the investment is "timely" due to the ongoing threat of the coronavirus pandemic and subsequent economic recession.
GM announced the creation of the BrightDrop electric delivery van and ecosystem, which is launching this year with the EV600 van and EP1 electric pallet.
With Carrier Pickup by FedEx, customers can schedule a return for any item that was shipped and sold by Walmart.com for free.
FedEx began shipping the second coronavirus vaccine candidate to earn emergency authorization in the U.S. after Moderna, a Massachusetts-based biotech company, received the authorization for its vaccine candidate from an FDA advisory panel on Thursday.
"Our unparalleled Express network was built for time-definite shipments such as these vaccines," FedEx president and chief operating officer Raj Subramaniam told analysts Thursday. "Simply put, a global health of this scale requires a network of our scale to address. This is who we are and what we do."
Rather than risk having their systems clogged with packages, both FedEx and UPS are holding a harder line by enforcing a preset limit on the daily number of packages they will pick up.
With the coronavirus pandemic keeping droves of Americans out of stores, online shopping is projected to surpass $189B over the next two months, up 33% from 2019.
With the number of coronavirus cases rising in the U.S. and the incoming colder weather keeping people out of stores, there may be even more strain on shipping networks in the coming weeks.
For the holidays, FedEx is hiring 70,000 workers, while UPS is in the throes of hiring more than 100,000 temporary employees
FedEx's coronavirus vaccine delivery plan involves 5,000 facilities, 80,000 vehicles, 670 aircraft.
UPS U.S. volumes rose nearly 14% driven by demand from small and medium-size firms.