A threatened U.S. strike at United Parcel Service could be "one of the costliest in at least a century," topping $7 billion for a 10-day work stoppage, a think tank specializing in the economic impact of labor actions said on Thursday.
Forecasts for second-quarter U.S. earnings still look gloomy after a much-better-than-feared first quarter season as the likelihood of further interest rate hikes this year creates more potential risks for companies.
United Parcel Service (UPS) union employees have voted overwhelmingly to authorize a strike should contract talks break down after the current agreement ends at midnight on July 31, the International Brotherhood of Teamsters said on Friday.
FedEx may see a profit boost from cost cuts undertaken last year, although its investors will be keen on knowing whether those actions have helped it catch up with rival United Parcel Service on the margin front.