UPS adds ‘peak’ surcharge amid coronavirus fueled delivery spike
United Parcel Service Inc on May 31 will slap surcharges on U.S. e-commerce companies that have flooded its delivery network with shipments of everything from...
ViacomCBS slashes up to 400 jobs as part of merger restructuring: source
ViacomCBS Inc is cutting up to 400 employees across CBS as part of its plan to save $750 million from its merger with CBS, a...
Cisco to acquire software firm ThousandEyes
Cisco Systems Inc has agreed to acquire privately held software maker ThousandEyes Inc, the network gear maker said on Thursday....
Nordstrom sales plunge nearly 40% on pandemic-led store closures
Upscale department store chain Nordstrom Inc on Thursday reported a nearly 40% slump in quarterly sales, as lockdowns to contain the COVID-19 pandemic forced it...
Costco beats revenue estimates as consumer stockpile essentials
Warehouse club operator Costco Wholesale Corp beat quarterly revenue estimates on Thursday, as people stocked up on essentials before hunkering down in their homes to...
Renault poised to announce 15,000 layoffs worldwide: union
French carmaker Renault is poised to announce 15,000 layoffs worldwide on Friday as it unveils a plan to boost its profitability and cope with faltering...
Stocks, euro rise on recovery hopes; U.S.-China rift lifts gold
Global equity markets climbed on Thursday on optimism for a speedy economic recovery and a massive stimulus plan in Europe helped lift regional stocks and...
Fed’s Kaplan says U.S. economy has bottomed, ties rebound to testing
The U.S. economy has likely bottomed, Dallas Federal Reserve Bank President Robert Kaplan said on Thursday, but a healthy rebound depends on a massive increase...
German auto supplier ZF Friedrichshafen to cut up to 15,000 jobs: memo
German car parts supplier ZF Friedrichshafen plans to reduce the workforce by up to 15,000 jobs, or around 10%, by 2025 as a result of...
COVID-19 infects more than 3,000 U.S. meatpacking workers: union
More than 3,000 U.S. meatpacking workers have tested positive for COVID-19 and at least 44 workers have died, the country’s largest meatpacking union said on...