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The Danish shipping conglomerate has also begun a program to buy back $1 billion in company shares over the next year.
Norfolk Southern Corp. will modify its Triple Crown Services (TCS) subsidiary to focus on the transport of auto parts, while other business will shift to the railroad's intermodal network.
The Commerce and Treasury departments have announced regulations that pave the way for certain U.S. exporters, carriers and logistics services providers to set up operations in Cuba.
TOTE says "While this reflects that the ship was caught in rough seas and extreme weather, it is in no way indicative of the ship’s fate."
Rep. Stephen Fincher, R-Tenn., introduced a bill that would restore Ex-Im Bank’s operations and include various reforms, but will require a "discharge process" to reach the House floor for a vote.
The company’s minority investment in e-commerce specialist Ally Commerce Inc. is more about research than revenues, according to Rimas Kapeskas, head of UPS’s strategic enterprise fund.