While everyone knows that July 4 is a federal holiday, this year the holiday is officially being observed today, Friday, July 3. That's because the Fourth of July falls on a Saturday, when most federal offices are closed anyway.
Amazon's planned 20% reduction in USPS volume is shifting the economics of package delivery, leaving fewer shipments to absorb the Postal Service's fixed costs, while the USPS is seeking more surcharges and a hike in the cost of a first-class postage stamp. Logistics experts say the impact will likely fall unevenly, with slower service appearing first and higher costs following, particularly for small businesses, non-Prime members, and rural customers.
This week's Amazon/USPS deal is one of the more interesting signals I've seen about where the company's delivery strategy is actually headed.
Amazon said Monday (April 6) that it has reached a new deal with the United States Postal Service (USPS) in which the postal agency will continue to make 80% of the package deliveries it currently makes for the retailer, Reuters reported Monday.
Here are five key things investors need to know to start the trading day.
Amazon said that USPS backed out at the "eleventh hour" in contract negotiations in December. Amazon said it had aimed to expand the volume of packages it routes through USPS.
Postal Realty is consolidating a fragmented market of USPS landlords, giving it a long runway for acquisitions. Recent acquisitions have been accretive because property yields remain above Postal Realty's blended cost of capital. The main risk is USPS network restructuring, which could eventually pressure renewals for some specialized properties.
NASA and the United States Postal Service have stopped using electric vans made by now-bankrupt EV startup Canoo, despite the former CEO's claim that he would provide support for the vehicles.
Amazon.com Inc (NASDAQ:AMZN) is considering ending its decades-long contract with the United States Postal Service (USPS) and building out its own nationwide delivery network, according to a report from The Washington Post. The current agreement between the eCommerce giant and the USPS is set to expire in October 2026.
Amazon is considering ending from its long-standing contract with the United States Postal Service and building out its own competing nationwide delivery network, according to the Washington Post.
Google said it has disrupted the foreign cybercriminal group behind a text scam operation within 24 hours of filing its lawsuit. The crime syndicate is responsible for a massive SMS phishing, or "smishing," operation that Google said would fake E-ZPass and U.S. Postal Service messages.
Google filed a lawsuit against a cybercriminal group largely based in China that is behind a massive text message phishing operation, or "smishing." The organization uses a "Lighthouse," a phishing-as-a-service kit, to steal sensitive financial information by sending fraudulent text messages.