UPS on Tuesday said it would eliminate an additional 30,000 frontline jobs and at least 24 facilities as part of a multiyear strategy to recharge growth through a planned decoupling from Amazon and downsizing of its parcel delivery network to match lower volume flow. Efficiency gains from the restructuring helped exceed forecasted fourth-quarter earnings despite a 10.6% decline in average daily do...
UPS on Tuesday said it would eliminate an additional 30,000 frontline jobs and at least 24 facilities as part of a multiyear strategy to recharge growth through a planned decoupling from Amazon and downsizing of its parcel delivery network to match lower volume flow. Efficiency gains from the restructuring helped exceed forecasted fourth-quarter earnings despite a 10.6% decline in average daily domestic volumes. Lower throughput was expected as UPS (NYSE: UPS) sheds Amazon business and lower-yielding Chinese e-commerce volumes. The integrated freight transportation and logistics giant last year reduced 48,000 operational jobs, including 15,000 seasonal positions, and closed 93 leased and owned distribution centers, resulting in $3.5 billion in savings. UPS reduced warehouse and driver payroll by 34,000 positions after originally estimating 20,000 persons would be cut. The reduced expenditures were offset by about $500 million in transformation costs. UPS early last year reached an agreement to reduce Amazon volumes in its network by more than 50% by June 2026. Outbound deliveries from Amazon fulfillment centers are not profitable compared to returns and outbound volumes from retailers that sell on the Amazon marketplace. About 60% of UPS’s Amazon business is lossmaking. During a presentation to analysts, management said it expects to handle 1 million fewer parcels from Amazon on a daily basis this year. Chief Financial Officer Brian Dykes outlined targeted savings of $3 billion in 2026 related to the Amazon glide down, including a reduction of about 25 million operating hours, 30,000 jobs and facility closures. Two dozen buildings are scheduled to be closed in the first half and more facilities could be closed later in the year following further review. Jobs will be eliminated through attrition, Dykes said, and a second voluntary buyout program for delivery drivers. An estimated 2,000 drivers took the severance package last year, but UPS never disclosed the actual n...
"My Ghanaian identity is not pretend," she says. "It is not cosplay. It is ancestral. Like Kwame Nkrumah said: 'I am not African because I was born in Africa, but because Africa was born in me.' That is exactly what Ghana is to me."
"My Ghanaian identity is not pretend," she says. "It is not cosplay. It is ancestral. Like Kwame Nkrumah said: 'I am not African because I was born in Africa, but because Africa was born in me.' That is exactly what Ghana is to me."
CME Group is raising margins on Comex silver futures after prices surged to a record high this week. Margins will rise to 11% of so-called notional from the current 9% for non-heightened risk profile, the exchange said in a statement on Tuesday. The heightened risk profile margins will be raised to 12.1% from the current 9.9%, it said. Platinum and palladium futures’ margin also will be hiked. The...
CME Group is raising margins on Comex silver futures after prices surged to a record high this week. Margins will rise to 11% of so-called notional from the current 9% for non-heightened risk profile, the exchange said in a statement on Tuesday. The heightened risk profile margins will be raised to 12.1% from the current 9.9%, it said. Platinum and palladium futures’ margin also will be hiked. The change takes effect from Wednesday’s close and follows a “normal review of market volatility to ensure adequate collateral coverage,” it said. Earlier this month, CME changed the outright margin setting on precious metals futures to a percentage of so-called notional from a system based on dollar amounts. The increase means those who want to trade futures of silver, platinum and palladium will need to put up more collateral to ensure they can meet their obligations. While the exchange routinely raises margins when a contract is soaring or extremely volatile, Tuesday’s move could edge out smaller players who don’t have enough cash to make the necessary deposits.
Melbourne, Australia Kieran Stone | Moment | Getty Images Asia-Pacific markets opened mostly higher on Wednesday, tracking gains on Wall Street after the S&P 500 closed at a record high. The broad market index gained 0.41% to finish at 6,978.60, supported by gains in Apple and Microsoft . Asian markets mostly extended Tuesday's gains, with Australia's S&P/ASX 200 climbing 0.12% and on pace for a f...
Melbourne, Australia Kieran Stone | Moment | Getty Images Asia-Pacific markets opened mostly higher on Wednesday, tracking gains on Wall Street after the S&P 500 closed at a record high. The broad market index gained 0.41% to finish at 6,978.60, supported by gains in Apple and Microsoft . Asian markets mostly extended Tuesday's gains, with Australia's S&P/ASX 200 climbing 0.12% and on pace for a fourth straight winning session. Australia will release its fourth-quarter inflation numbers later today, with headline inflation expected to come in at 3.6%, its highest level in six quarters. South Korea's Kospi and Kosdaq continued to push fresh records, gaining 1.27% and 1.55% respectively in early trade However, Japan's Nikkei 225 slumped 0.79%, while the Topix fell 0.97%. Late Tuesday, the yen strengthened to its highest level in almost three months against the dollar, touching a low of 152.08 amid intervention expectations swirling around the currency. Hong Kong Hang Seng index futures were at 27,186, also higher than the HSI's last close of 27,126.95 Overnight in the U.S., the Nasdaq Composite climbed 0.91%, while the Dow Jones Industrial Average broke ranks, losing 408.99 points, or 0.83%, and settling at 49,003.4. S&P 500 futures were near the flatline ahead of the Federal Reserve's interest rate decision and earnings reports from major tech companies. The central bank is widely expected to keep its benchmark interest rate steady at a target range of 3.5% to 3.75%, but traders will be seeking hints on longer-term changes to monetary policy. —CNBC's Sean Conlon and Pia Singh contributed to this report.
Nike's top-line performance stabilized in recent quarters. But some key segments are still moving in the wrong direction. Athletic footwear company Nike (NKE 2.92%) has trailed the market year to date in 2026, falling about 1% as the S&P 500 has risen about 2%. This extends a stretch of poor performance for Nike stock that has gone on for a few years, resulting in a total decline of more than 50% ...
Nike's top-line performance stabilized in recent quarters. But some key segments are still moving in the wrong direction. Athletic footwear company Nike (NKE 2.92%) has trailed the market year to date in 2026, falling about 1% as the S&P 500 has risen about 2%. This extends a stretch of poor performance for Nike stock that has gone on for a few years, resulting in a total decline of more than 50% over three years. Is this major pullback creating a buying opportunity? Unfortunately, I believe investors should continue to exercise caution when it comes to Nike stock. On the surface, Nike's recent financial results suggest its turnaround efforts are working. After all, the company's year-over-year trends and total quarterly revenue have improved in fiscal 2026 compared to fiscal 2025. But beneath the surface, there are some major problems, including significant weakness in China and meaningful declines in the company's important direct-to-consumer sales business. Discouraging results After reporting a year-over-year revenue decline of 10% for the full year of fiscal 2025, the company is off to a better start in fiscal 2026. Revenue in both the first and second quarters of fiscal 2026 increased 1% year over year. But there were two major concerns in Nike's most recent quarterly results. While overall revenue rose 1% year over year, two of the catalysts investors care about the most saw deteriorating performance compared to fiscal Q1. First, Nike's direct consumer sales fell 8% year over year in fiscal Q2. This is a much steeper decline than the 4% decrease the company reported in fiscal Q1. Meanwhile, Greater China revenue fell 17% year over year in fiscal Q2. Worse than a 9% decline in fiscal Q1. What held Nike's fiscal second quarter up? Its wholesale revenue rose 8% year over year, an acceleration from 7% growth in the prior quarter. Still, weakness in direct-to-consumer and Greater China overshadows improvement in wholesale. Both of these segments are important to t...
Key Takeaways Microsoft is slated to post fiscal second-quarter results Wednesday afternoon, with analysts expecting rising revenue and profits amid strong AI demand. Options pricing suggests traders see the stock swinging up to 5% in either direction in the days following the report. Microsoft is scheduled to report its latest quarterly results after the market closes on Wednesday, with traders a...
Key Takeaways Microsoft is slated to post fiscal second-quarter results Wednesday afternoon, with analysts expecting rising revenue and profits amid strong AI demand. Options pricing suggests traders see the stock swinging up to 5% in either direction in the days following the report. Microsoft is scheduled to report its latest quarterly results after the market closes on Wednesday, with traders anticipating a big move in the tech giant's stock following the results. Options pricing suggests traders expect Microsoft's (MSFT) stock could move close to 5% in either direction by the end of the week. A move of that size from Tuesday's close near $481 could lift Microsoft shares above $502 at the high end, or drag them down to $459 at the low end. The shares are down about 11% from when Microsoft last reported results in October, when the company topped estimates but said it would significantly boost its investments in AI infrastructure. Shares had closed at a record high around $542 the day before the results. Amid lingering worries about the company's AI spending, investors will likely be eager to hear what executives have to say about capital expenditures, along with projections for the "Intelligent Cloud" segment, which includes Azure. Why This Matters to Investors Microsoft may face a tough setup heading into the results, as worries about the costs of its AI buildout could potentially overshadow strong earnings and revenue growth. The company is expected to report revenue of $80.31 billion for its fiscal second quarter, up 15% year-over-year, with a 27% jump in Intelligent Cloud revenue to $32.39 billion. Earnings per share could come in at $3.87, up from $3.23 a year ago, according to estimates compiled by Visible Alpha. Morgan Stanley analysts, who hold an "overweight" rating and $650 price target, recently wrote that their conversations with Microsoft executives and customers indicated Azure revenue should continue growing in line with or ahead of expectations as...
Key Takeaways Microsoft is slated to post fiscal second-quarter results Wednesday afternoon, with analysts expecting rising revenue and profits amid strong AI demand. Options pricing suggests traders see the stock swinging up to 5% in either direction in the days following the report. Microsoft is scheduled to report its latest quarterly results after the market closes on Wednesday, with traders a...
Key Takeaways Microsoft is slated to post fiscal second-quarter results Wednesday afternoon, with analysts expecting rising revenue and profits amid strong AI demand. Options pricing suggests traders see the stock swinging up to 5% in either direction in the days following the report. Microsoft is scheduled to report its latest quarterly results after the market closes on Wednesday, with traders anticipating a big move in the tech giant's stock following the results. Options pricing suggests traders expect Microsoft's (MSFT) stock could move close to 5% in either direction by the end of the week. A move of that size from Tuesday's close near $481 could lift Microsoft shares above $502 at the high end, or drag them down to $459 at the low end. The shares are down about 11% from when Microsoft last reported results in October, when the company topped estimates but said it would significantly boost its investments in AI infrastructure. Shares had closed at a record high around $542 the day before the results. Amid lingering worries about the company's AI spending, investors will likely be eager to hear what executives have to say about capital expenditures, along with projections for the "Intelligent Cloud" segment, which includes Azure. Why This Matters to Investors Microsoft may face a tough setup heading into the results, as worries about the costs of its AI buildout could potentially overshadow strong earnings and revenue growth. The company is expected to report revenue of $80.31 billion for its fiscal second quarter, up 15% year-over-year, with a 27% jump in Intelligent Cloud revenue to $32.39 billion. Earnings per share could come in at $3.87, up from $3.23 a year ago, according to estimates compiled by Visible Alpha. Morgan Stanley analysts, who hold an "overweight" rating and $650 price target, recently wrote that their conversations with Microsoft executives and customers indicated Azure revenue should continue growing in line with or ahead of expectations as...
Both Vanguard Short-Term Corporate Bond ETF and Vanguard Short-Term Treasury ETF aim to steady a portfolio. This article looks at where that stability comes from, and why the difference shows up when credit conditions change. Vanguard Short-Term Corporate Bond ETF (VCSH +0.05%) and Vanguard Short-Term Treasury ETF (VGSH +0.03%) differ mainly in credit exposure, yield, and risk, while sharing ident...
Both Vanguard Short-Term Corporate Bond ETF and Vanguard Short-Term Treasury ETF aim to steady a portfolio. This article looks at where that stability comes from, and why the difference shows up when credit conditions change. Vanguard Short-Term Corporate Bond ETF (VCSH +0.05%) and Vanguard Short-Term Treasury ETF (VGSH +0.03%) differ mainly in credit exposure, yield, and risk, while sharing identical expense ratios and issuer backing. Both the Vanguard Short-Term Corporate Bond ETF (NASDAQ:VCSH) and Vanguard Short-Term Treasury ETF (NASDAQ:VGSH) target investors seeking income with limited price swings, but they go about it with different bond types. This comparison looks at their costs, yields, performance, risk, and what’s inside to help investors decide which approach may fit their needs best. Snapshot (cost & size) Metric VGSH VCSH Issuer Vanguard Vanguard Expense ratio 0.03% 0.03% 1-yr return (as of Jan. 22, 2026) 4.91% 6.63% Dividend yield 4.0% 4.3% Beta 0.26 0.13 AUM $30.4 billion $46.9 billion Beta measures price volatility relative to the S&P 500; beta is calculated from five-year weekly returns. The 1-yr return represents total return over the trailing 12 months. Both funds are equally affordable at 0.03% in annual expenses, but VCSH pays a slightly higher yield, which could appeal to those seeking a bit more income from their bond allocation. Performance & risk comparison Metric VGSH VCSH Max drawdown (5 y) -5.69% -9.50% Growth of $1,000 over 5 years $953 $960 What's inside VCSH invests in high-quality, investment-grade corporate bonds with maturities between one and five years. The fund holds just 12 positions, with top allocations to Bank of America Corp (BAC +0.29%), Mktliq (NYSE:MKTLIQ), and CVS Health Corp (CVS 14.15%), each making up less than 0.3% of assets. The portfolio is managed by Vanguard and has a track record spanning 16.2 years, focusing exclusively on cash and other short-term instruments. VGSH, by contrast, is dedicated solely to U.S. T...
hapabapa/iStock Editorial via Getty Images Thesis We last covered the BlackRock Multi-Sector Income Trust ( BIT ), mid-2025 with a 'Hold' rating. The CEF has posted a small negative total return since, surprisingly, on the downside in an otherwise benign credit environment. In today's article, we are going to revisit the CEF and its composition, the latest developments for the fund, and outline ou...
hapabapa/iStock Editorial via Getty Images Thesis We last covered the BlackRock Multi-Sector Income Trust ( BIT ), mid-2025 with a 'Hold' rating. The CEF has posted a small negative total return since, surprisingly, on the downside in an otherwise benign credit environment. In today's article, we are going to revisit the CEF and its composition, the latest developments for the fund, and outline our view given the current macro. Rights offering The CEF had a rights offering in September 2025 that resulted in more cash being deployed: New York, September 9, 2025 - BlackRock Multi-Sector Income Trust ( NYSE: BIT ) (the "Fund") today announced the successful completion of its transferable rights offer (the “Offer”) which expired on September 9, 2025 (the “Expiration Date”). The Offer entitled rights holders to subscribe for up to an aggregate of 14,265,677 shares of the Fund’s common shares of beneficial interest, par value of $0.001 per share (each, a “Common Share”). The final subscription price of $13.01 per Common Share was determined based upon the formula equal to 90% of the net asset value as of 9/9/2025. We saw weakness in the shares around the rights offering, which is normal: Price Move (YCharts) Please note the -10% drop in the common shares once the rights offering was announced. A rights offering is ultimately a capital raise, and they are very successful only when the fund ends up using that cash to buy assets on the cheap. Let us see next what the current balance sheet looks like and see how the cash was used. Current composition The fund looks to have deployed the entire cash amount, still running a large leverage ratio: Current Sectors (Fund Website) The above table presents the holdings in the BlackRock fashion, which plugs the leverage as a negative balance in the 'Cash/Derivatives' line. Basically, the fund reports all its holdings as per the balances, including borrowed cash, and the borrowed amount is a negative amount. We can see the CEF being ove...
NTSB blames 'deep' systemic failures for deadly midair collision near Washington D.C. toggle caption Alex Wong/Getty Images WASHINGTON — After a yearlong investigation , the National Transportation Safety Board blamed multiple systemwide failures for the midair collision of an Army Black Hawk helicopter and American Airlines regional jet that killed 67 people. "Deep, underlying systemic failures —...
NTSB blames 'deep' systemic failures for deadly midair collision near Washington D.C. toggle caption Alex Wong/Getty Images WASHINGTON — After a yearlong investigation , the National Transportation Safety Board blamed multiple systemwide failures for the midair collision of an Army Black Hawk helicopter and American Airlines regional jet that killed 67 people. "Deep, underlying systemic failures — system flaws — aligned to create the conditions that led to the devastating tragedy," said NTSB chair Jennifer Homendy in her opening remarks . Investigators laid out their findings in a meeting at the NTSB's headquarters, compiling a long list of factors that likely contributed to the deadliest U.S. aviation disaster in decades. The board did not identify a single cause for the collision on January 29th, 2025. Instead, investigators placed the blame on multiple overlapping problems — including the location of a helicopter route in some of the nation's most congested airspace, along with critical equipment failures and human errors. Sponsor Message Investigators identified an instrument failure in the Army helicopter, which likely made the pilots think they were flying 100 feet lower than they were. The NTSB report also described a chaotic situation in the air traffic control tower, and incomplete communications between the local controller and the helicopter pilots. But the chair of the NTSB reserved her harshest criticism for regulators at the Federal Aviation Administration. toggle caption Roberto Schmidt/AFP via Getty Images "It's one failure after another," Homendy told reporters during a break. The FAA had collected reports of more than 80 serious close calls in recent years between helicopters and passenger aircraft, Homendy says, but the NTSB was the first to draw attention to those conflicts. "The data was there. The data was in their own systems," Homendy said. The FAA was also supposed to evaluate helicopter routes every year to ensure that they are still safe, ...
The latest wave of AI excitement has brought us an unexpected mascot: a lobster. Clawdbot, a personal AI assistant, went viral within weeks of its launch, and will keep its crustacean theme despite having had to change its name to Moltbot after a legal challenge from Anthropic. But before you jump on the bandwagon, here’s what you’d need to know. According to its tagline, Moltbot (formerly Clawdbo...
The latest wave of AI excitement has brought us an unexpected mascot: a lobster. Clawdbot, a personal AI assistant, went viral within weeks of its launch, and will keep its crustacean theme despite having had to change its name to Moltbot after a legal challenge from Anthropic. But before you jump on the bandwagon, here’s what you’d need to know. According to its tagline, Moltbot (formerly Clawdbot) is the “AI that actually does things” — whether it’s managing your calendar, sending messages through your favorite apps, or checking you in for flights. This promise has drawn thousands of users willing to tackle the technical setup required, even though it started as a scrappy personal project built by one developer for his own use. That man is Peter Steinberger, an Austrian developer and founder who is known online as @steipete and actively blogs about his work. After stepping away from his previous project, PSPDFkit, Steinberger felt empty and barely touched his computer for three years, he explained on his blog. But he eventually found his spark again — which led to Moltbot. While Moltbot is now much more than a solo project, the publicly available version still derives from Clawd, “Peter’s crusted assistant,” now called Molty, a tool he built to help him “manage his digital life” and “explore what human-AI collaboration can be.” The viral attention around Moltbot has even moved markets. Cloudflare’s stock surged 14% in premarket trading Tuesday as social media buzz around the AI agent re-sparked investor enthusiasm for Cloudflare’s infrastructure, which developers use to run Moltbot locally on their devices. For Steinberger, this meant diving deeper into the momentum around AI that had reignited his builder spark. A self-confessed “Claudoholic”, he initially named his project after Anthropic’s AI flagship product, Claude. He revealed on X that Anthropic subsequently forced him to change the branding for copyright reasons TechCrunch has reached out to Anthropic for ...