2 hours, 19 minutes ago BEIJING (Reuters) - Top global logistics firm United Parcel Service (UPS.N) hopes to buy a firm in China and boost staff there in coming years, and said on Monday that paying billions for rival TNT (TNT.AS) would devalue its own shares.UPS, a bellwether of the U.S. economy along with rival FedEx Corp (FDX.N), last month posted earnings in line with expectations but hit by rising fuel costs and a weak economy.
Trying to drive growth beyond a U.S. market that accounts for more than half its revenue, UPS will be opening two $180 million transport hubs in China and wants to nearly quadruple its staffing there in the next few years, hoping to serve growing demand for delivery services within a relatively untapped market.
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