NEWSLETTER
Transcription:
Conway Gittens: I'M Conway Gittens informing the New York Stock Exchange. This is what we are seeing in Thestreet today.
A day after the Federal Reserve maintained the stable interest rates, the data published on Thursday shows that the economy ended the year without any recession signal. The US economy grew 2.8 percent for all 2024, compared to 2.9 percent of the previous year. Meanwhile, new unemployment benefits requests a larger fall than expected last week.
Looking at the calendar, the Fed's favorite inflation meter, known as PCE, is published on Friday. Exxonmobil and Chevron also publish their quarterly results.
Related: Pilot Salaries of UPS: what they do and how much they are paid
In corporate headlines, UPS is at the point of their relationship with amazon, where he is ready for that uncomfortable conversation that ends with the phrase: I think we should see other people. UPS announced that it will reduce amazon packages deliveries by 50% in the second half of 2026.
The turn in the relationship between UPS, the world's largest package charger, and amazon, the world's largest electronic commerce company, occurs when UPS feels the heat of the large number of packages it sends for amazon. Due to a large -volume price structure, UPS does not earn so much money in each amazon package sent compared to what it does in other deliveries. The UPS CEO, Carol Tomé, did it bluntly in a call with investors: “amazon is our biggest client, but it is not our most profitable client.”
You may not know this when you feel to make a purchase on amazon, or in any other website, but for UPS, there is a high cost for free or low -cost shipment offered. In 2024, the company received $ 92 billion in shipping fees. Even with amazon changes, UPS predicts that this number will fall in 2025.
That will do that for your daily information session. From the New York Stock Exchange, I am Conway Gittens with Thestreet.
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