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☆ A massive UPS strike could devastate the economy. It could be just eight weeks away
▼ + stars: | 2023-06-12 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —The Teamsters union is holding a vote right now among more than 330,000 members to authorize a strike against UPS. If UPS workers strike, it would be the largest single-employer strike in US history. UPS (UPS) is simply too big – delivering an average of 17 million domestic packages a day – to have all the packages it handles moved by competitors. The strike vote being conducted through July 16 is likely to pass overwhelmingly, as virtually all such votes do. If a deal is reached, but a majority vote against it, there will still be a strike this time.

Persons: couldn’t, Sean O’Brien, ”, Carol Tome, it’s, O’Brien, “, James Hoffa, Hoffa, ” O’Brien Organizations: New, New York CNN, Teamsters, UPS, United, FedEx, US Postal Service, CNN, ” Union, Teamster, Deutsche Bank Locations: New York, United States

☆ Jenny Lewis Keeps Finding the Magic
▼ + stars: | 2023-06-05 | by ( Melena Ryzik | ) www.nytimes.com time to read: +2 min

About half of the tracks for the LP were created over two years in Los Angeles. The rest she made in Nashville, where she has also had a home since 2017. (After her own tour, she’ll be joining the Postal Service on the road this fall.) “If you don’t like Jenny Lewis, you don’t like people,” he said. She was estranged from her parents for decades, then reconciled with each late in their lives.

Persons: “ Joy’All ”, Tracy Chapman, Frank Ocean, It’s, —, Rilo Kiley, Postal Service —, she’ll, Dave Cobb, Brandi Carlile, John Prine, Chris Stapleton, Jenny Lewis, ”, birdsong, Lewis, Ram Dass, Elvis, Lucille Ball, Lucy, Gucci, “, Cohen Organizations: Portishead, Postal Service, Records, Nashville, Gucci, Universal Studios Locations: Los Angeles, Nashville, Atlanta

☆ Over 5,300 USPS mail carriers were attacked by dogs last year. These are the cities where the attacks happen most often.
▼ + stars: | 2023-06-04 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

The US Postal Service said over 5,300 mail carriers were bit by dogs in the last year. National Dog Bite Awareness Week is this week, and the USPS is hoping the data helps reduce attacks. Dogs and mail carriers, a feud as old as time that has been the butt of jokes in the real world and on TV for decades. The agency's annual National Dog Bite Awareness Week kicks off Sunday, and the post office released its annual report to draw attention to the issue. The postal service said over 5,300 mail carriers were attacked in the last year, just under the 5,400 it reported last year.

Persons: Louis, Leeann Theriault, Swain Lowe, satchel Organizations: US Postal Service, USPS, Postal Service, Texas, New York, Pennsylvania, Ohio, Illinois, Florida, Michigan, Missouri, North Carolina, Los Angeles, Dallas, Cleveland, San Diego, Chicago, Kansas City, Phoenix, San Antonio Locations: California, Houston, Virginia

☆ From teachers to waiters: The industries that haven’t bounced back from the pandemic
▼ + stars: | 2023-06-03 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

At the height of the pandemic, leisure and hospitality workers suffered the most layoffs across all industries as venues shuttered during lockdowns. Many of these workers found jobs working remotely for call centers and have stuck with the jobs ever since, he added. But within that industry, the bulk of the worker shortage is coming from public school teachers. There were 118,000 fewer public school teachers across the country last month compared to February 2020, according to Bureau of Labor Statistics data. Despite the shortage, public education jobs were much slower to raise wages than other industries, likely due to state and local budget constraints.

Persons: it’s, Jim McCoy, “, ” McCoy, “ We’re, that’s Organizations: New, New York CNN, Employers, Industries, of Labor Statistics, CNN Locations: New York, lockdowns

☆ The Senate just passed the debt ceiling bill. Here’s what happens next
▼ + stars: | 2023-06-02 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

Since the debt ceiling was breached in mid-January, the Treasury Department has not been able to borrow more money. What happens once the debt ceiling is raisedBy law, the Treasury Department is obligated to make any funds that were affected by the extraordinary measures whole. Unlike Treasury bill auctions that occur on a weekly and monthly basis, cash management bill auctions are irregular, though not uncommon. Over the past 25 years, the Treasury held six one-day cash management bill auctions. In turn, investors may opt to buy more Treasury bills instead of stocks, potentially sucking some liquidity out of the market.

Persons: Joe Biden, States ’, They’re, wasn’t, Biden Organizations: New, New York CNN, US Department of, Treasury, Treasury Department, Civil, Disability Fund, Postal Service, Congressional, CBO Locations: New York, States, United States

☆ A California woman is accused of shipping over 9 million parcels using counterfeit postage, costing the USPS $60 million in lost revenue
▼ + stars: | 2023-06-02 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Lijuan Chen was arrested on May 24 after the USPS investigated an alleged counterfeit postage scheme. Postal inspectors estimate Chen and her employees shipped over nine million parcels in six months. Chen ran a business shipping parcels for e-commerce sites, including a number in China, the documents say. She faces one count of conspiracy to defraud the United States, and one count of use or possession of counterfeit postage, per the documents. According to an inspector's affidavit, the USPS would have lost $60 million in revenue due to the apparent scheme.

Persons: Lijuan Chen, Chen, —, Angela, they'd, Chen's Organizations: USPS, Service, United States Postal Service, Prosecutors Locations: China, California, United States

Some popular big cities are losing residents, US Postal Service change-of-address requests indicate. Requests made in 2023 also show that smaller spots outside big cities have tended to gain residents. Smaller spots outside larger urban hubs, meanwhile, are attracting more residents than they're losing. Many people move over the summer to avoid pulling kids out of school midyear, so end-of-year change-of-address data may shed light on other patterns. Also, bigger cities are more likely to both lose and gain people because of their larger populations; the USPS doesn't adjust its numbers according to population.

☆ Exclusive: Malaysian tycoon weighs selling a stake in $2.7 bln port business -sources
▼ + stars: | 2023-05-22 | by ( Yantoultra Ngui | Thomson Reuters | Yantoultra Ngui Is A Southeast Asia Deals Correspondent With Reuters In Singapore | ) www.reuters.com time to read: +2 min

His conglomerate MMC Corp may sell a stake of up to 30% in MMC Ports, said one of the people, adding that financial investors and companies have approached MMC Corp about their interest in the ports business. A sale could be a precursor to a potential MMC Ports listing on the Malaysian stock exchange in a few years, said the sources. MMC Corp and MMC Ports did not respond to requests seeking comment. MMC Ports has seven ports in Malaysia - Port of Tanjung Pelepas, Johor Port, Northport, Penang Port, Tanjung Bruas Port, SPT Services and Andaman Port, according to its website. MMC Corp also owns stakes in Malaysia's largest independent power producer Malakoff Corp (MALA.KL) and the country's only supplier of reticulated natural gas in Peninsular Malaysia, Gas Malaysia (GASM.KL).

☆ Philippines: Inferno tears through Manila's historic Central Post Office
▼ + stars: | 2023-05-21 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +1 min

Hong Kong CNN —A massive fire broke out at the historic Manila Central Post Office in the Philippine capital late Sunday, with teams of fire fighters battling for more than seven hours through the night before it was finally brought under control. The building sits within the historic old Manila town near other tourist landmarks along the Pasig River that flows through the capital. The post office was first built in 1926 and designed by Filipino architects Juan M. Arellano and Tomás Mapúa. Bureau of Fire Protection (BFP)/FacebookIt was declared an “important cultural property” in 2018, meaning the country’s oldest post office was of “exceptional cultural, artistic, and historical significance to the Philippines,” according to CNN affiliate CNN Philippines. Mark Laurente, chief of staff of the postmaster general, said that national identification cards were spared from the fire as those were stored in another city, CNN Philippines reported Monday morning.

☆ Ukrainian firms venture abroad for growth as war hits home
▼ + stars: | 2023-05-19 | by ( Olena Harmash | ) www.reuters.com time to read: +6 min

The ongoing conflict has prompted several Ukrainian firms to focus abroad to reduce their reliance on a shrinking home market and to tap into the millions of people who have left. Ukraine, which had a pre-war population of about 40 million, has seen its domestic economy turned upside down, with corporate investments and growth now rare. "Our choice was to go to Poland, mainly because Poland hosts now the highest number of Ukrainians who fled from the war." In September, 8.5% of all companies opened in Poland had Ukrainian capital, compared with 0.8% in January 2022. "The main goal is to grow abroad much faster than we planned for ourselves in the pre-war period," Vovk said.

☆ UK's IDS targets return to profit after Royal Mail beats expectations
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

The economic climate remains challenging, and Royal Mail faces the task of rebuilding business from the damage caused by industrial action," Chairman Keith Williams said in a statement. International Distributions Services (IDS) is targeting a group adjusted operating profit in this financial year, said the group, which is still looking for a replacement for Royal Mail CEO Simon Thompson. IDS, which includes Royal Mail UK and international operations GLS, reported a group adjusted operating loss of 71 million pounds for the year ended March 26, compared with a profit of 758 million pounds a year earlier. Analysts on average had expected a loss of 114 million pounds, according to a company-compiled consensus. Analysts on average had expected Royal Mail UK's adjusted operating loss to come in at 449 million pounds for the year.

☆ Chief Standing Bear is honored on a USPS Forever stamp
▼ + stars: | 2023-05-16 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +4 min

The stamp, which features a portrait of Chief Standing Bear by illustrator Thomas Blackshear II, was unveiled last week at a ceremony in Lincoln, Nebraska. “I hope this stamp will serve as a reminder of the lessons we’ve learned from Chief Standing Bear, and the brave Ponca people, especially here in the Cornhusker State.”Chief Standing Bear was a leader of the Ponca people in the late 1800s. An archival photo of Chief Standing Bear, a leader of the Ponca people in the late 1800s. In 1879, a newspaper editor interviewed Chief Standing Bear while in detention, and the story of his plight gained national attention, according to the Oklahoma Historical Society. In a speech before the court, Chief Standing Bear said through an interpreter, “That hand is not the color of yours, but if I pierce it, I shall feel pain.

☆ How a 150-Year-Old Law Against Lewdness Became a Key to the Abortion Fight
▼ + stars: | 2023-05-16 | by ( Emily Bazelon | ) www.nytimes.com time to read: +1 min

The plaintiffs’ primary argument is that the courts should force the Food and Drug Administration to revoke its approval of mifepristone, the first pill in the two-drug regimen for medication abortion. At the same time, another potentially consequential part of the suit challenges an F.D.A. decision in 2021 allowing patients to receive the prescribed pills by mail. The plaintiffs in the Texas suit argue that the Comstock Act “explicitly forbids” mailing the drugs to any state, whether abortion is legal there or not. In defense of the agency’s actions, which were based on studies showing that the medication could be safely dispensed without an in-person medical visit, the Biden administration argues that Congress made the agency responsible for assessing a drug’s safety and effectiveness, not whether other laws might affect its use.

☆ Financial fraudsters are targeting postal workers to steal their mailbox keys, so USPS is trying something new
▼ + stars: | 2023-05-13 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

USPS and the Postal Inspection Service announced it is cracking down on robberies and mail theft. Incident rates of attacks against mail workers and theft from blue collection boxes are on the rise. But less talked about is another issue: Thieves targeting postal workers themselves. Robbers specializing in financial fraud schemes are increasingly stealing mail straight from the hands of mail workers, or stealing their keys to mailboxes. So the United States Postal Service is implementing new policies and security efforts to curb the worsening problem.

☆ Get ready to pay up to $10 for making a return, as more companies charge fees for shipping an item back
▼ + stars: | 2023-05-11 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +2 min

More retailers are charging customers for shipping and related fees for mailing back returns. Roughly 41% of companies charged such fees in 2022, an increase from 33% in 2021, according to a survey. It's becoming more common for customers returning products to shoulder shipping fees. Several major retailers have referenced shipping fees for returns, including H&M, which states that "Shipping and handling costs are not refundable." J.Crew notes on its website that customers shipping gift returns will see a $7.50 charge in their refund, while JCPenney states that shipping returns cost $8.

☆ The Real Reason Rent Costs Are Sky High: People Left Their Roommates
▼ + stars: | 2023-05-10 | by ( James Rodriguez | ) www.businessinsider.com time to read: +12 min

Though rent growth has slowed in recent months, renters in large cities are still feeling the effects of the 2021-22 rent boom. Residents of these places are now asking the question: If so many people left, why is my rent still so expensive? The first was outbound migration, which led to weaker housing demand in city centers. "High house prices, high rents, and rising interest rates are probably pushing back against household formation," Ozimek told me. If more employees keep adopting remote work — which, I'll admit, is a big "if" — that indicates housing demand is bound to increase.

☆ US debt limit default could hit in early June to early August -think tank
▼ + stars: | 2023-05-09 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, May 9 (Reuters) - The U.S. government will begin defaulting on its payment obligations between early June and early August without an increase in the federal debt limit, the Bipartisan Policy Center said on Tuesday, flagging pressure from a drop in tax revenue. The Bipartisan Policy Center (BPC), which closely monitors debt limit disputes in Congress, had estimated in February the X-date could come between summer and early fall, but now sees a default hitting much earlier if Congress fails to raise the $31.4 trillion U.S. borrowing cap. "The coming weeks are critical for assessing the strength of government cash flows," Shai Akabas, BPC director of economic policy. The think tank's latest estimate roughly agrees with the Congressional Budget Office's revised assessment that there is now a "significantly greater risk" of an early June default. Later on Tuesday, President Joe Biden is scheduled to meet with U.S. House of Representatives speaker Kevin McCarthy and other congressional leaders to discuss options to resolve the debt limit standoff between Democrats and Republicans.

☆ European shares edge higher as energy, bank stocks gain; US inflation data eyed
▼ + stars: | 2023-05-08 | by ( Amruta Khandekar | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) rose 0.2% to 466.29 points by 0805 am GMT. The index was pressured last week when, unlike the Fed, the European Central Bank signalled more rate hikes were on the table. A slump in energy shares on weakness in crude prices also added to the declines. Energy (.SXEP) was the top sectoral gainer on Monday, up 0.8% as crude prices strengthened. Dutch Central Bank President Klaas Knot on Sunday said the ECB's rate hikes are starting to have an effect, but more will be needed to contain inflation.

May 8 (Reuters) - Dutch postal firm PostNL (PTNL.AS) on Monday reported a surprise operating profit for the first quarter, supported by a smaller-than-expected drop in parcel volumes and adaptive measures implemented last year. Delivery and postal firms from PostNL to Germany's Deutsche Post (DPWGn.DE) and U.S.-based FedEx (FDX.N) have seen parcel volumes fall from their pandemic highs as demand normalises while high inflation erodes consumer confidence. Volumes for PostNL's parcel distribution business fell 6.5% to 81 million items, while analysts had expected a drop of 8%. PostNL confirmed its full-year guidance of normalised EBIT between 70 million and 100 million euros and free cash flow between 10 million and 40 million euros. ($1 = 0.9056 euros)(This story has been corrected to say 81 million items, not 81 million euros, in paragraph 5)Reporting by Olivier Cherfan and Augustin Turpin; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ Senators say new US Postal Service pay plan will cut rural worker compensation
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, May 5 (Reuters) - A group of six U.S. senators on Friday urged the U.S. Postal Service (USPS) to delay implementation of a new compensation system that it says will reduce pay for tens of thousands of rural postal delivery workers. The senators -- Democrats Ron Wyden Elizabeth Warren, Sherrod Brown, Ed Markey and John Fetterman and independent Bernie Sanders -- in a letter to U.S. Postmaster General Louis DeJoy said the automated Rural Route Evaluated Compensation System should not be used "until the system’s serious flaws are rectified." They also asked how USPS "will reimburse rural carriers for lost earnings when the system makes an inaccurate determination about their routes." Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. Postal Service next-generation delivery vehicles delayed to mid-2024
▼ + stars: | 2023-05-02 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Postal Service (USPS) said on Monday it expected to receive next-generation delivery vehicles in June 2024, nine months behind a prior schedule. In March 2022, the USPS placed an initial $2.98 billion order for 50,000 next-generation delivery vehicles from Oshkosh Corp (OSK.N) and previously said it expected to begin receiving deliveries in October 2023. In April 2022, 16 states and environmental groups filed a lawsuit seeking to block USPS's plan to buy mostly gas-powered next-generation delivery vehicles, arguing that the agency failed to comply with environmental regulations. The modern vehicles will replace many older USPS vehicles that lack air bags and other safety equipment as well as air conditioning. In December, USPS said it would more than double planned electric delivery vehicles purchases after initially saying it would buy nearly all gasoline-powered delivery vehicles.

House Republicans passed a bill to raise the debt limit last week that includes steep spending cuts which the Democratic-controlled Senate and Biden say they will not approve. Biden has steadfastly said he will not negotiate over the debt ceiling increase, but will discuss budget cuts after a new limit is passed. In 2011, a similar debt ceiling fight took the country to the brink of default and prompted a downgrade of the country's top-notch credit rating. The Republican bill would implement $4.5 trillion in spending cuts - or about 22% - in exchange for a $1.5 trillion increase in the U.S. debt limit. It has no chance of passing the Democrat-controlled Senate and the White House has said Biden would veto the legislation.

SHANGHAI/SINGAPORE, April 28 (Reuters) - Chinese banks are ramping up efforts to promote international use of the yuan, and reporting a surge in cross-border yuan business from the country's booming trade with Russia and deepening ties with the Middle East. Harbin Bank Co (6138.HK), in China's Heilongjiang province neighboring Russia, saw its cross-border yuan business grow nine-fold last year to a record, as the Sino-Russia trade grew briskly after the Ukraine war began. Industrial Bank Co (601166.SS), whose cross-border, corporate payment business jumped 50% last year, has also been actively promoting CIPS, China's own global payment system. The bank said it currently helps 153 foreign and Chinese banks connect to CIPS, to advance China's yuan internationalisation strategy. "Increasing the use of yuan in pricing, and settling cross-border oil and gas trade will give a boost to yuan internationalization."

☆ Comstock Act: The 150-year-old chastity law that may be the next big fight over abortion
▼ + stars: | 2023-04-28 | by ( Tierney Sneed | ) edition.cnn.com time to read: +15 min

“Comstock is really the backdoor way to remove access to abortion across the whole country,” said Greer Donley, a University of Pittsburgh Law School professor who specializes in abortion law. Severino argued that, at least when it comes to the Comstock Act’s prohibitions on mailing abortion pills, Congress is well within its powers to regulate those shipments. Several towns, some in New Mexico and elsewhere, have passed local ordinances that cite the Comstock Act and prohibit business within those jurisdictions from shipping or receiving items used for abortions in the mail, as covered by the Comstock Act. The lawsuits in New Mexico state court that those ordinances have prompted may provide for another opportunity for courts to elaborate on what the Comstock Act means. The Supreme Court, in the emergency order it issued last week, did not say anything about the Comstock Act.

☆ The creepy secret behind online therapy
▼ + stars: | 2023-04-20 | by ( Tanmoy Goswami | ) www.businessinsider.com time to read: +16 min

Crisis Text Line, now in its 10th year of operations, uses artificial intelligence to respond to people experiencing emotional abuse, self-harm, and suicidal thoughts. 'The vast majority of mental-health apps are exceptionally creepy'BetterHelp, a poster child of online therapy founded in 2013, calls itself "the world's largest therapy platform" and says it has over 2 million users. One of the first popular mental-health apps, PTSD Coach, was launched by the US Department of Veteran Affairs in 2011. But for mental-health companies these practices can undermine the very foundations of mental-health care: dignity, trust, and psychological safety. As Crisis Text Line wrote on its website extolling its deal with Loris: "Why sell T-shirts when you can sell what your organization does best?"

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