Author: Thomas Black

FedEx Corp. jumped in late trading after releasing an annual earnings forecast that was above analysts’ expectations as the courier benefited from higher package prices and resolved some operating snags tied to the labor shortage.

Major railroads, including Union Pacific Corp. and BNSF Railway Co., and their unions remain at an impasse after a government board ended efforts to mediate a settlement, a move that will likely force President Joe Biden’s administration to intervene a…

CSX Corp. is turning away freight from customers, ceding cargo business to truckers, as the railroad struggles to hire workers, CEO Jim Foote said.

UPS Inc. reported first-quarter earnings that exceeded Wall Street expectations, saying its quarterly income increased to $3.3 billion compared with $2.77 billion in the first quarter of 2021.

The U.S. Surface Transportation Board proposed a rule change that aims to bring immediate relief for shippers facing poor rail service, asserting that the agency can take emergency action on its own to address delays.

Union Pacific Corp. plans to limit customer-owned railcars on its network beginning next week to ease traffic jams that have gummed up the supply chain.

FedEx Corp. is partnering with Elroy Air, a startup that makes a large cargo drone, to test moving packages by air with no pilot on board.

FedEx Corp. posted quarterly profit below Wall Street’s estimates as rising costs related to a U.S. labor shortage and lower-than-expected package volume dragged on gains from pricing increases.

FedEx Corp. struggled with higher costs as package growth stalled, leading the courier to cut its annual earnings outlook and post quarterly profit below analysts’ expectations. FedEx fell 4.1% in New York after regular hours.

FedEx Corp. plans to raise its delivery rates in 2022 by the most in at least a decade as the courier shoulders rising costs in what it called a “challenging operating environment.”