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Deutsche Post DHL Group reported consolidated net profits of 49 million euros for the third quarter of 2015, an 89.5 percent year-over-year decline, which primarily resulted from a decline in earnings before interest and tax.
Exports from the second largest economy in the world dropped for the fourth consecutive month, while Chinese imports continued to tumble, dropping nearly 19 percent compared to October 2014.
XPO Logistics, which announced Friday it had finalized its $3 billion acquisition of trucking and logistics provider Con-way Inc., will cut more than 10 percent of current Con-way staff at its Ann Arbor, Mich. headquarters and Portland, Ore. IT center.
The U.S. Gulf port also expects to benefit from continuing population migration to Texas and the expansion of Panama Canal, which is scheduled to be completed in April 2016.
Meanwhile, a Federal Aviation Administration task force released its recommendations regarding a registration program for unmanned aircraft systems that will affect the use of drones in both commercial and recreational settings.
Box volumes at the largest U.S. East Coast port were up 11 percent year-over-year in October, driven primarily by a 9.8 percent spike in loaded import containers.