Labor shortage just cost FedEx $470 million. But it thinks things will get better soon
CNN
The nation's labor shortage just cost FedEx $470 million in its most recent quarter. But its executives believe the hiring situation is going to get better soon.
Although FedEx's revenue was up nearly $3 billion to $23.5 billion in the quarter ended November 30, its adjusted income was essentially unchanged. The labor shortage was the biggest single reason, the company said.
"The difficult labor market once again had the largest effect on our bottom line," said CFO Michael Lenz in comments to investors Thursday.
The first week of testimony in Brian Walshe’s murder trial in Dedham, Massachusetts, has come to an end. The jury heard from about two dozen witnesses called by the commonwealth in its case against Walshe as prosecutors work to prove he killed his wife, Ana Walshe, around New Year’s Day in 2023.
The US Army officially stood up a new command on Friday to oversee the Army’s activities in the Western Hemisphere in the latest signal of increasing focus on homeland defense.
A former high-level Drug Enforcement agent was indicted on charges of conspiring to traffic drugs and launder millions of dollars for a Mexican cartel.
A federal judge in Florida ordered the unsealing of grand jury transcripts and other records in the investigation into Jeffrey Epstein granting the Justice Department’s request.
The Indiana House approved new congressional maps designed to hand Republicans all nine of the state’s US House seats on Friday, setting the stage for a showdown next week in the state Senate.
Honduran presidential candidate Salvador Nasralla said last-minute interference from US President Donald Trump in the country’s closely fought election had damaged his chances of winning and left him trailing as vote counting dragged on.
Vice President JD Vance said he and second lady Usha Vance are largely amused by the online chatter dissecting their marriage, including a recent spate of headlines over photos of her without a wedding ring.
During interviews with the FBI, the suspect arrested in the pipe bomb probe told investigators that he believed the 2020 election was stolen, providing perhaps the first indication of a possible motive for the bombs placed near the DNC and RNC headquarters, people briefed on the matter said.
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The two men killed as they floated holding onto their capsized boat in a secondary strike against a suspected drug vessel in early September did not appear to have radio or other communications devices, the top military official overseeing the strike told lawmakers on Thursday, according to two sources with direct knowledge of his congressional briefings.
As Chad Curry busily ferries his teenage children through the streets of their Chicago neighborhood of West Ridge, he eyes passing vehicles with a skepticism he didn’t have just a few months ago.
Speaker Mike Johnson is a political survivor, weathering crisis after crisis since his unlikely ascent two years ago.
Chief Justice John Roberts and Justice Elena Kagan are well matched, rhetorically forceful opposites. And they have been clashing for more than a decade over an increasingly relevant question of presidential power: How easy should it be for the president to fire the heads of independent agencies?