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News Summary: UPS says online shoppers driving biz

The Associated Press
Tuesday, 23 Oct 2012 | 12:49 AM ET

WALLET, MEET PC: United Parcel Service Inc., the world's largest package delivery company, thinks online demand for gadgets will help its earnings this year, making up for slower shipments between businesses.

DOWN THE ROAD: The company narrowed its earnings forecast for the year, and now expects growth of 5 to 7 percent from 2011. The prediction overshadowed weaker results in the most recent quarter.

PEOPLE POWER: UPS said 40 percent of total shipments are from businesses to consumers, compared with about a third a few years ago. It expects them to grow to half of all packages during the holiday season.

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