President Donald Trump's son-in-law Jared Kushner has presented a $50 billion investment plan for economic growth and peace in the Middle East that has been greeted with...World Politicsread more
Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
The trade war between Beijing and Washington appears to have depressed Chinese property purchases in the United States. China's own actions may also be playing a role.Real Estateread more
Tesla CEO Elon Musk sent out another email to his employees, pushing them to aim for a record number of vehicle deliveries to end the second quarter of 2019.Technologyread more
More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
Democrats want Mueller's testimony on his probe into Russian interference in the 2016 election and Trump's efforts to influence it.Politicsread more
The Senate is expected to pass its own version of the border aid legislation, while the Trump administration has threatened to veto both bills.Politicsread more
Some 4 million people have fled the South American country since 2015 amid an economic meltdown.World Politicsread more
Japanese designer Undercover posted on its Instagram account a photo of protesters with the slogan "no extradition to China," the Financial Times reported.China Politicsread more
Powell stresses the central bank's independence in a speech that comes amid continuous pressure from the White House to cut interest rates.The Fedread more
Stocks in Asia were subdued on Wednesday after U.S. Federal Reserve Chairman Jerome Powell tempered expectations for a potential interest rate cut.Asia Marketsread more
United Parcel Service on Thursday said earnings suffered from higher costs resulting from surging shipping volumes during the peak holiday period.
The company's shares dropped in premarket trading and remained in the red through Thursday's session, falling nearly 7 percent.
Here's how the company did compared with what Wall Street expected:
The world's largest package delivery company had faced system bottlenecks and delayed deliveries in the period leading up to Christmas.
Despite making huge investments to upgrade its network to handle peak-period volumes, UPS said in December that some deliveries were delayed after a surge in holiday online shopping orders overwhelmed its system.
In peak "cyber-periods," the company said shipments outpaced its network capacity, leading to $125 million in additional operating costs.
Still, UPS announced a record 762 million deliveries during the peak season. Packages delivered for the full quarter increased 5.7 percent over the year-ago period, to 1.5 billion deliveries.
CEO David Abney said the recently passed tax overhaul law will set UPS up for success in 2018 and beyond.
"We expect to unlock significant resources, which will be available for accelerated investments in our network and create additional opportunities for our people," Abney said.
Later on Thursday, UPS credited the Tax Cuts and Jobs Act when announcing its purchase of 18 aircraft: 14 747 planes and four Boeing 767 freighters.
The company adjusted its guidance for 2018, announcing expected earnings between $7.03 and $7.37 per share for the full year.
The disclosure, which follows a 2017 holiday season that smashed online shopping records, will shed light on how the shipping giant is faring amid the widespread economic shift away from brick-and-mortar retail and toward online delivery.
The Atlanta-based company has already sent signals that the season has been a success: UPS said it expected to return 1.4 million packages in December, according to Reuters, breaking its record for the fifth consecutive year.
UPS shares have appreciated more than 20 percent year over year.
—Reuters contributed to this report.