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...Activist investor Ancora has won three board seats at Norfolk Southern in a dramatic show of shareholder discontent at one of the biggest US freight railroad groups, but fell short of ousting chief executive...
...UPS and FedEx are not that far apart in terms of revenues, UPS boasts operating margins that are almost twice that of FedEx....
...US Customs and Border Protection on Monday closed railway bridges at the cities of Eagle Pass and El Paso, Texas, which respectively rank as the second and fourth busiest freight rail crossings with Mexico...
...The BHP offer hinged on exiting two of the company’s prized South African assets, which have been laid low by the country’s rolling blackouts and freight chaos in getting iron ore to world markets....
...FedEx has a habit of overpromising and underdelivering....
...Container freight rates on east-west trades have more than doubled in four weeks....
...Biden said the US Army Corps of Engineers would work swiftly to clear the channel and allow the port to reopen to ships....
...shipping rates through FedEx Express....
...Two freight rail companies warned of disruptions to thousands of tonnes of cargo in Mexico this week after operations were blocked or suspended because of a wave of migrants crossing the country to reach...
...The lower ocean freight prices have also cut demand for air freight, an expensive alternative for companies hurrying to secure supplies: air rates this September are half what they were this time last year...
...That was partially offset by a 67 per cent year-on-year increase in operating income in the FedEx Freight division, driven by higher fuel surcharges....
...Simply stated, we’re in a freight recession....
...The announcement came shortly after Soroban Capital Partners published a letter it had sent to the board, warning that the freight rail operator — one of the largest in the US — was lagging behind rivals...
...US logistics giant FedEx thinks a global recession is coming....
...To help mitigate the effects of reduced demand, FedEx announced it would close more than 90 FedEx Office locations, defer staff hiring, cancel certain projects, reduce flights and temporarily park aircraft...
...The rival of FedEx and UPS, which grew out of the privatisation of Germany’s mail service, employs almost 600,000 people in 220 countries....
...It introduced a freshwater surcharge in 2020, and in 2021 hired the US Army Corps of Engineers to advise on its water supply programme....
...The Teamsters have also launched a campaign to organise workers at Amazon and are actively renegotiating contracts with shipper Yellow Corp and the American Red Cross....
...Filing for bankruptcy this month, Party City cited the usual factors troubling US retailers such as higher expenses for freight and labour....
...Commuter rail systems in Chicago, northern Virginia and southern California also said they would suspend their service during a freight rail strike....
...Railroads are obliged by law to transport all freight, including hazardous goods, and the US Department of Transportation considers rail a safer option to move chemicals than highway trucking....
...But FedEx’s 2016 acquisition of TNT Express, whose integration was bumpy, marked a watershed. Then, in 2019, FedEx’s tax bill attracted negative headlines....
...The boom in online shopping and congestion at ports drove a big increase in air freight during the pandemic, but will the growth continue as shipping problems ease? Watch our new video....
...The standard operating procedures he had learned in the Marines became leadership tenets at FedEx....
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