UPS, FedEx Increase Fuel Surcharge Rates
Effective Feb. 2, UPS raised its fuel surcharge rates for ground and air services, as did rival FedEx.
FedEx Express
FedEx to Increase Fuel Surcharges Effective Feb. 2
As it is losing money from fuel surcharge revenue due to falling oil prices, FedEx plans to increase its fuel surcharge rates on Feb. 2, effectively putting them in line with rates from rival UPS.
FedEx Beats Quarterly Expectations
FedEx reported Q1 revenue and earnings that beat analyst expectations, and announced plans for 50,000+ seasonal hires to deal with holiday shipping volumes.
FedEx Announces 4.9% Rate Increase for 2015
FedEx announced a 4.9% increase in FedEx Ground, FedEx Express and FedEx Freight, effective January 5, doing so for the first time ahead of rival UPS.
Federal Court: FedEx Drivers are Employees, Not Contractors
A federal court ruled that FedEx Ground drivers who worked in California and Oregon were misclassified as independent contractors instead of employees.
UPS and FedEx Allowed to Expand Delivery in China
After five years of waiting, UPS and FedEx have been granted licenses by the Chinese government to expand their local parcel services to consumers.
FedEx Q4 Net Income Up 141%, Revenue Gains 4%
FedEx reported revenue was up 4% and net income up 141% for the fourth quarter ended May 31.
FedEx Net Income Up 14%
FedEx released its second quarter financials on Dec. 18, which showed a net income of $500 million, up 14% from last year’s $438 million.