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Stock Market & Financial Investment News

News Breaks
January 30, 2013
05:48 EDTUPS, TNTEYEuropean Commission confirms blocking of UPS takeover of TNT Express
The European Commission announced that it has prohibited under the EU Merger Regulation the proposed acquisition of TNT Express (TNTEY) by UPS (UPS). The Commission found that the take-over would have restricted competition in 15 Member States when it comes to the express delivery of small packages to another European country. In these Member States, the acquisition would have reduced the number of significant players to only 3 or 2, leaving sometimes DHL as the only alternative to UPS, the EU said. The agency added, "The concentration would therefore have likely harmed customers by causing price increases. During the investigation, UPS offered to divest TNT's subsidiaries in these 15 countries and allow the buyer to access its intra-European air network for five years. The Commission carried out an in-depth assessment, including a market test where customers and other interested parties were consulted. However, these remedies proved inadequate to address the identified competition concerns." Recall that UPS dropped its takeover bid TNT Express, saying the merger would be blocked by the European Commission. Reference Link
News For UPS;TNTEY From The Last 14 Days
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August 28, 2014
17:29 EDTUPSUPS awarded $617.33M government contract
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10:01 EDTUPSUPS announces $17.5M expansion to Menifee, California facility
UPS announced a $17.5M expansion of its delivery center in Menifee, Calif., to handle increased shipping volume from customers throughout the region. The expansion, which more than doubles the existing space, will open in late September. In addition to expedited package processing capability supported by advanced technology and conveyor systems, the facility will have expanded vehicle parking and an enlarged UPS Customer Center. The expanded space will cover 49,407 square feet and include 10 tractor-trailer doors and room for 108 delivery vehicles.
August 25, 2014
06:19 EDTUPSU.S. DHS warns of 'Backoff' malware, WSJ reports
The Department of Homeland Security is urging all companies to check for a "Backoff" malware infection, which targets cash registers, and said over 1,000 businesses in the U.S. have been affected by the cyberattack, the Wall Street Journal reports. The DHS said Friday that the malware has likely infected many victims who "aren't aware" that they have been compromised. Reference Link
August 20, 2014
16:06 EDTUPSUPS notifies customers of potential data compromise, incident resolution
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August 19, 2014
10:28 EDTUPSUPS establishes freight forwarding services in Myanmar
UPS announced the expansion of inbound and outbound air and ocean freight services in Myanmar for the first time. Global customers trading to and from this emerging market will have access to UPS's supply chain technologies and services, which initially will include UPS Air Freight Direct, UPS Air Freight Consolidated, Full Container Load and Less-than Container Load services.
07:37 EDTUPSUPS management to meet with William Blair
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