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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.

☆ Supreme Court Considers Christian Mail Carrier’s Right to Refuse Sunday Shifts
▼ + stars: | 2023-04-18 | by ( Jess Bravin | ) www.wsj.com time to read: 1 min

Gerald Groff sued the Postal Service, alleging religious discrimination. Photo: Carolyn Kaster/Associated PressWASHINGTON—Supreme Court justices appeared to edge toward a compromise in a workplace religious-rights case Tuesday, with conservatives Neil Gorsuch and Brett Kavanaugh suggesting that a 1977 precedent could be clarified but not overturned to balance the interests of employees and employers. A group of conservative advocacy groups filed the case on behalf of a part-time mail carrier who said his evangelical Christian faith prevented him from working on Sundays. The group aims to overturn the current application of federal law requiring employers to make reasonable accommodations for employees’ religious exercise, so long as undue hardship wasn’t imposed on the business.

Postal Service for alleged religious discrimination is set for U.S. Supreme Court review on April 18, poses in an undated handout image taken at an unknown location. Postal Service over his refusal to work on Sundays gives the Supreme Court another chance to widen religious rights but also has led to a debate over whether religious people are more legally deserving than others to weekend days off from work. The court, with its 6-3 conservative majority, has a track record of expanding religious rights in recent years, often siding with Christian plaintiffs. The Postal Service in 2013, in a bid to remain profitable, contracted with Amazon.com to deliver packages, including on Sundays. His absences caused tension among other carriers who had to cover his shifts, the Postal Service said.

☆ UPS and FedEx are clawing back ground from smaller package-delivery firms. Here's how the little guys plan to defend their share.
▼ + stars: | 2023-04-13 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

Amazon, FedEx, UPS, and the postal service hold 97% of the US package delivery market. Smaller delivery companies were major beneficiaries of the pandemic boom times for e-commerce. "There was a long runway for these delivery companies when FedEx and UPS didn't want your business," said Derek Lossing, an Amazon Logistics alum who now advises investors. Smaller carriers are competing less with UPS and FedEx, and more with each other. UPS and FedEx will still be in the picture, but the smaller players can outperform them in some areas.

☆ Inflation hits the mailbox: Postage stamp prices are rising, again
▼ + stars: | 2023-04-12 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

The US Postal Service said Monday that it filed a notice with its regulators to increase prices on first-class mail stamps to 66 cents from 63 cents. The Postal Service said the hike was necessary to offset a rise in operating expenses. Surging prices have dented business across the global economy over the past two years, pushing up workers’ wages and increasing the costs of doing business. “These price adjustments are needed to provide the Postal Service with much needed revenue,” the agency said in a statement. Domestic postcards will also increase from 48 cents to 51 cents, and international postcards from $1.45 to $1.50.

☆ Hacker Stole My Phone, Credit Card, Identity. I Set Out to Find Them.
▼ + stars: | 2023-04-02 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +22 min

They left the Verizon store and went to a nearby Apple store, where they used my Chase credit card to spend $6,370. And two, because a physical credit card had been used to make the purchases, even though I was still in possession of my card. Typically, when your credit card is about to expire, as mine was, the bank sends you a new card a few weeks ahead of time. All told, the gang allegedly stole hundreds of identities and defrauded retailers and credit card companies of $1.3 million. Whoever hacked my identity, it makes sense that they started with my credit card.

☆ New data shows who's winning and losing as companies like UPS, FedEx, and Amazon battle for fewer e-commerce packages
▼ + stars: | 2023-03-27 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

New data from Pitney Bowes shows Amazon was the only major carrier that didn't see a drop in 2022. In 2022, delivery companies shipped 21.2 billion packages — 2.2% less than in 2021 but more than 37% higher than 2019. When retailers have less package volume to spread around, the big guys get persuasive with their discounts, Ramachandran said. But in terms of package volume, it was the only major carrier to hold its 2021 package volume in 2022. Like UPS and FedEx, Amazon may also strategically choose not to grow package volume, but not by turning down customers.

☆ Say goodbye to the iconic mail truck — the postal service is electrifying its fleet, beginning with more than 9,000 new vehicles
▼ + stars: | 2023-03-01 | by ( Aidan Pollard | ) www.businessinsider.com time to read: +2 min

The USPS will put more than 9,000 electric mail trucks on the road, electrifying America's oldest vehicle fleet. The postal service plans to spend nearly $10 billion on its electrification plan. The postal service will also install 14,000 charging stations at USPS facilities. "Electrification of our vehicle fleet is now an important component of these initiatives." The postal service has not yet announced where the first electric vehicles will be deployed, noting in a press release that it is still weighing the best routes for the new vehicles.

☆ US Postal Service plans to buy 9,250 EV Ford delivery vehicles
▼ + stars: | 2023-02-28 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Postal Service (USPS) said Tuesday it plans to buy 9,250 Ford (F.N) E-Transit battery electric vehicles starting later this year and will also purchase an equal number of gasoline-powered models from Chrysler-parent Stellantis (STLAM.MI). Congress in August gave USPS $3 billion as part of a $430 billion climate bill to buy electric vehicles and charging infrastructure. USPS said it will also buy 9,250 2023 and 2024 model year Ram ProMaster vans from Chrysler-parent Stellantis "to fill the urgent need for vehicles." They are part of the 21,000 vehicles included in USPS December vehicle plan. Democratic Senator Gary Peters praised USPS for using funding to "quickly adopt more cost effective and energy efficient electric vehicles."

☆ Dogs are attacking mail carriers at alarming rates, forcing the post office to avoid entire neighborhoods until things get better
▼ + stars: | 2023-02-20 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

A Florida mail carrier died after she was attacked by five dogs when her truck broke down in August. Mail delivery stops and residents have to pick up their mail at the post office. Residents in subsections of Des Moines, Iowa, Cleveland, Ohio, Greenfield, Indiana, Roanoke, Virginia, all temporarily lost mail service in the last year because the neighborhood was deemed unsafe by mail carriers. Mail carriers also receive training on how to assess and approach dogs and they are required to carry dog repellant. California Texas Ohio Pennsylvania Michigan New York Illinois Florida Washington KentuckyAre you a mail carrier or delivery driver with a story?

☆ This package shipped from Mississippi to Michigan — via Puerto Rico. Here's why some shipments go on circuitous journeys.
▼ + stars: | 2023-02-03 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

A small bubble wrap envelope of cosmetics shipped by the US Postal Service from Mississippi headed for Michigan — 750 miles away. When USPS analyzed the tracking for this package a spokesperson told Insider it was simply a mistake. One package's circuitous route from Mississippi to Michigan via Puerto Rico Emma Cosgrove/USPS"Each employee makes a concerted effort to process and deliver each piece of mail and unfortunately, on very rare occasions, instances of mail delivery issues may occur. Across the US package delivery industry, there are more than 59 million packages shipped every day, according to the latest figures from Pitney Bowes, an e-commerce shipping firm. The USPS spokesperson declined to give a misload rate for the postal service.

☆ Biden administration officials tout EVs at DC auto show
▼ + stars: | 2023-01-25 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Jonathan ErnstWASHINGTON, Jan 25 (Reuters) - Two senior Biden administration officials got behind the wheel of new electric vehicles (EV) Wednesday at the Washington, D.C. auto show to urge Americans to consider buying a zero-emission model. They also highlighted that since President Joe Biden took office, companies have announced nearly $130 billion in U.S. EV investment including $56 billion in EV manufacturing and $72 billion in battery production. "It's electric vehicles, it's the guts to the electric vehicle, it's the guts to the battery - the whole supply chain now locating in the United States." Congress has approved billions of dollars in new incentives, low-cost loans and other funding for EV production and $5 billion for charging stations. Some consumers are still confused about whether they will qualify for EV credits.

☆ Factbox: The U.S. Treasury's tools to avoid breaching debt limit
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +5 min

Here's a rundown of the Treasury's tools to keep borrowing under the limit. Slugs issues, which count against the debt limit, have recently averaged $6 billion per month, but monthly volumes vary. Savings bond sales increased the federal debt by just $5.7 billion since the start of the 2023 fiscal year last October. SWAP FEDERAL FINANCING BANK DEBTThe Federal Financing Bank can issue up to $15 billion in debt on behalf of other government agencies that is not subject to the debt limit. So the Treasury could exchange FFB debt for other debt to reduce the total amount subject to the limit.

☆ Treasury tells Congress it will suspend some federal retirement funding after debt limit breach
▼ + stars: | 2023-01-24 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

The U.S. Treasury will suspend full funding of a federal retirement program, the latest in a string of actions it has taken to prevent default after the government hit its debt ceiling, Treasury Secretary Janet Yellen told congressional leaders Tuesday. The Treasury is taking so-called extraordinary measures to keep paying its bills after it breached its $31.4 trillion borrowing limit Thursday. Lawmakers are trying to strike a deal to lift the U.S. borrowing limit and prevent a first-ever default on U.S. debt. Some members of the new Republican House majority have pushed to tie spending cuts to an increase in the borrowing limit. Yellen on Tuesday said interest-bearing securities for the Government Securities Investment Fund, or the so-called "G Fund," will be underfunded until the debt limit is increased or suspended.

☆ The U.S. hit the debt ceiling — here's what that means for your money
▼ + stars: | 2023-01-21 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

The U.S. hit the debt ceiling on Thursday, which forced the Treasury Department to begin taking so-called "extraordinary measures" to continue paying the government's bills. Read on for the answers to the most relevant questions about the debt ceiling, and why, as a long-term investor, you shouldn't be paying too much attention to the headlines. Remind me — what's the debt ceiling again? Where does the debt ceiling stand now? Aside from stock market volatility, you'd see ramifications across the economy.

☆ Yellen says Treasury is taking extraordinary measures to avoid default as U.S. hits debt limit
▼ + stars: | 2023-01-19 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

U.S. Treasury Secretary Janet Yellen holds a news conference in the Cash Room at the U.S. Treasury Department in Washington, U.S. July 28, 2022. The Treasury Department started taking so-called extraordinary measures to keep paying the federal government's bills as the U.S. hit its debt limit Thursday, Treasury Secretary Janet Yellen said. The Treasury secretary told lawmakers Friday that she believes the extraordinary steps could allow the government to pay its obligations until early June. The Treasury secretary warned last week that the U.S. government would hit the statutory debt ceiling on Thursday, after which extraordinary measures would be taken to keep the government from defaulting on its debt obligations. The U.S. government has not defaulted on its debt, but the debt ceiling has been raised 22 times from 1997 to 2022, according to the Government Accountability Office.

☆ U.S. Treasury launches debt limit cash management measures
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Jan 19 (Reuters) - The U.S. Treasury Department on Thursday began using extraordinary cash management measures to continue borrowing under the federal debt limit, Treasury Secretary Janet Yellen told congressional leaders. She said she took similar measures for the Postal Service Retiree Health Benefits Fund. "As I stated in my January 13 letter, the period of time that extraordinary measures may last is subject to considerable uncertainty, including the challenges of forecasting the payments and receipts of the U.S. Government months into the future. I respectfully urge Congress to act promptly to protect the full faith and credit of the United States." Reporting by David Lawder; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ A former mail carrier and devout Christian who refused to deliver Amazon packages on Sundays is taking the US Postal Service to the Supreme Court for bias
▼ + stars: | 2023-01-14 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +2 min

The Supreme Court is to hear an appeal by a former mail carrier who is accusing the USPS of religious bias. Gerald Groff, an evangelical Christian, has said he was reprimanded for refusing to deliver parcels on Sundays. Groff's legal team appealed this ruling and has now succeeded in having it heard at the Supreme Court. When Groff joined the postal service in 2012, he did so with the understanding that it did not operate on Sundays. His attitude caused resentment among his co-workers, with one carrier leaving their station and another quitting the Postal Service.

WASHINGTON — The Supreme Court on Friday agreed to hear an evangelical Christian mail carrier's employment discrimination claim in a case that could force employers to do more to accommodate the religious practices of their workers. Postal Service could have granted his request that he be spared Sunday shifts based on his religious belief that it is a day of worship and rest. Based on his request for an accommodation, his managers arranged for other postal workers to deliver packages on Sundays until July 2018. Upon resigning, he sued the Postal Service for failing to accommodate his request. In the earlier ruling, the court said that employers are not required to make accommodation if it would impose even a minimal burden.

The new House GOP majority returns to elect a speaker after failing on three votes Tuesday. ... Nancy Pelosi reacts to GOP dysfunction: “As one who loves this institution, I think it’s a sad day.” ... And President Biden appears with Senate GOP Leader Mitch McConnell to tout the bipartisan infrastructure law. Andy Beshear) all appear at an event in Kentucky promoting a bridge improvement from the bipartisan infrastructure law. 16: How many years Senate Minority Leader Mitch McConnell has served as Senate GOP leader, making him the longest-serving Senate leader ever, per NBC News’ Frank Thorp. Eyes on 2024: DeSantis takes office amid GOP chaosAs the GOP descended into chaos on Capitol Hill Tuesday, Florida GOP Gov.

☆ USPS can keep delivering prescription abortion drugs, DOJ says
▼ + stars: | 2023-01-04 | by ( ) www.nbcnews.com time to read: +3 min

Postal Service (USPS) can continue to deliver prescription abortion medication despite a June 2022 Supreme Court ruling that overturned a landmark abortion rights decision, the Justice Department said on Tuesday. Evelyn Hockstein / Reuters/Alamy fileMifepristone is a prescription drug approved by the Food and Drug Administration (FDA) to induce an abortion up to 10 weeks into a pregnancy. It must be followed by a second drug, misoprostol. A Justice Department spokesman declined to comment on the opinion. Restrictions on the abortion medication lifted in 2021 had been in place since the FDA had approved the drug in 2000.

☆ UK train strikes will disrupt return to work this week
▼ + stars: | 2023-01-03 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

Britain’s largest transport union, RMT, said workers will strike on January 3, 4, 6 and 7. The rail strikes will make city centers “ghost towns” for another week, Nicholls said. “The sector has struggled to recover from Covid and these protracted rail strikes since May have made that bounce back much tougher,” she added. According to PwC, the average British worker’s pay in 2023 is expected to fall back to 2006 levels once inflation is taken into account. In a statement, Network Rail said that the RMT strike was “unnecessary and deeply damaging” to the railway and the economy.

☆ U.S. Postal Service can continue to deliver prescription abortion medication - DOJ
▼ + stars: | 2023-01-03 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Postal Service (USPS) can continue to deliver prescription abortion medication despite a June 2022 Supreme Court ruling that overturned a landmark abortion rights decision, the Justice Department said on Tuesday. Mifepristone is a prescription drug approved by the Food and Drug Administration (FDA) to induce an abortion up to 10 weeks into a pregnancy. It must be followed by a second drug, misoprostol. A Justice Department spokesman declined to comment on the opinion. Restrictions on the abortion medication lifted in 2021 had been in place since the FDA had approved the drug in 2000.

☆ Covid-19: China's surge in cases hits factories and consumer market
▼ + stars: | 2022-12-26 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s economy is under severe strain as a wave of Covid cases sweeps across the country. Factories and companies are also forced to shut down or cut production because of more workers getting sick. Nationwide, truck cargo volumes and delivery orders both shrank in the past week, according to statistics from the transportation ministry and the postal service regulator. Many factories have been forced to shut down for weeks because of sick workers and lack of orders, according to Chinese media. The next few weeks may be “the most dangerous” for China’s battle with Covid, said Capital Economics analysts.

☆ UK wages next year will be at their lowest level since 2006, report says
▼ + stars: | 2022-12-23 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

The report confirms that wages have stagnated in Britain even as inflation hits double digits, sparking the worst cost-of-living crisis in decades. That’s led to widespread strikes across the UK economy, encompassing railways, schools, nurses, hospitals and the postal service. “Despite a contracting economy, the UK remains an attractive destination for workers,” PwC economist Jake Finney said in a statement. “The rise in inactivity poses serious challenges to the UK economy. PwC’s Kupelian added that UK inflation likely peaked in October and “will gradually begin to return to target over the next two years.”

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