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Triton Container International Ltd., which is owned by the wealthy Pritzker family, is expected to disclose as early as Thursday its sale to private-equity firms Warburg Pincus LLC and Vestar Capital Partners for about $1 billion, people familiar with the matter said.
Talks are ongoing and details are still being finalized, these people added. Including debt and cash, a sale would value Triton at about $3.5 billion, people familiar with the matter said. Get the full story »
The U.S. Postal Service warned Wednesday that it may default on some of its financial obligations later this year after reporting yet another quarterly loss.
The USPS, a self-supporting government agency that receives no tax dollars, said it suffered a loss of $329 million in the first quarter of the federal fiscal year 2011. That compares with a loss of $297 million a year ago. Get the full story »
United Parcel Service is requiring photo identification for retail shipping as it expands security during its peak season after two parcel bombs were intercepted in October.
The world’s largest package delivery company, which expects a 7.5 percent rise to about 430 million deliveries this holiday season, said on Tuesday that retail customers will not be permitted to ship without a government-issued picture ID at the UPS Store, Mail Boxes Etc and authorized shipping outlets worldwide. Get the full story »
FedEx is searching for radioactive rods used for medical equipment that went missing during shipment between North Dakota and Tennessee.
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Wal-Mart Stores Inc. is going for the jugular in the holiday retailing war, announcing Thursday that it will offer free shipping on nearly 60,000 online items — with no minimum purchase requirement. Get the full story »
Christmas is not coming early this year for the U.S. Postal Service, after regulators denied a request Thursday that would have raised the price of a first-class stamp by 2 cents, to 46 cents.
The Postal Service argued that it needed the hike in order to cover lost revenue from a decrease in mail volume, stemming from the economic recession. Get the full story »
FedEx Corp , the world’s largest cargo airline, said it would raise shipping rates on its Express and Freight services as the company hosted investors at its Memphis headquarters on Wednesday. Get the full story »
When Kraft Foods Inc. packs trucks with weighty items such as jars of Miracle Whip and pouches of Capri Sun juice, 40 percent of the rigs must leave the loading dock partly empty to avoid exceeding federal truck weight limits. Kraft says those rules force it and others to make extra trips and spend more on fuel.
Now, the Illinois food giant is part of a coalition of 150 companies lobbying Congress to allow trucks that are 20 percent heavier on U.S. highways. Supporters of the idea say truckers could pay an extra fee to offset road repairs.
There is an arms race of sorts in the shipping industry — and it is prompting a backlash. Efforts are under way to supersize trucks, trains, and cargo ships as freight haulers look to move more goods in fewer trips. Get the full story »
