The U.S. Postal Service overhauled its organizational structure, as Democrats called for an investigation into whether the changes implemented by President Donald Trump’s postmaster general pose a threat to mail-in ballots for the November election.
August 10, 2020GovernmentBusiness
Trump Allows Some Unemployment Pay, Defers Payroll Tax
BEDMINSTER, N.J. — Seizing the power of his podium and his pen, President Donald Trump on Aug. 8 moved to bypass the nation’s elected lawmakers as he claimed the authority to defer payroll taxes and extend an expired unemployment benefit after negotiations with Congress on a new coronavirus rescue package collapsed.
August 8, 2020BusinessTechnologyTop 50
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, 2020GovernmentBusiness
Mnuchin 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, 2020GovernmentBusinessLogistics
USPS 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.
August 7, 2020BusinessLogistics
UPS to Levy Holiday Surcharges as ºÚÁϳԹÏÍø 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.
August 7, 2020BusinessLogistics
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.
August 7, 2020GovernmentBusiness
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.
August 7, 2020GovernmentBusiness
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.
August 6, 2020