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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."
The five Market Development Cooperator Program-backed projects are expected to generate more than $653 million in U.S. exports over the next three years in return for the one-time $1.4 million federal investment.
In a separate action, warehouse workers began a strike Tuesday morning against California Cartage warehouse in Los Angeles.
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.
European regulators may seek concessions from FedEx such as asset sales as part of its deal to acquire TNT Express, according to multiple media reports.