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Business

U.S. economy shrinks 0.3% in first quarter, the first drop in three years

The U.S. economy shrank at a 0.3% annual pace from January through March, the first drop in three years, as President Donald Trump's trade wars disrupted business. First-quarter growth was slowed by a surge in imports as companies in the United States tried to bring in foreign goods before ...

UPS to cut 20,000 jobs on lower Amazon shipments, profit beats estimates

(Reuters) -United Parcel Service said on Tuesday it will cut 20,000 jobs and shut 73 facilities to lower costs in an uncertain economy and to brace for a potential pullback from its largest customer, Amazon. Such a significant step makes UPS the first big U.S. company to respond through ...