Connect to share and comment

Postal service reports $354 million first-quarter loss, as Congress considers help

WASHINGTON - The Postal Service lost $354 million over the last three months, and officials warned that mounting losses could lead to cash flow problems for the rest of the year, the agency said Friday. The loss was far less than the $1.3 billion in the comparable quarter the previous fiscal year, but Postmaster General Patrick Donahoe continued to press Congress to give the agency more flexibility to manage its finances.

Online shoppers help cut U.S. Postal Service first-quarter loss

By Elvina Nawaguna WASHINGTON (Reuters) - The U.S. Postal Service narrowed losses in its latest quarter, as a surge in online shopping and package delivery boosted revenues during the busy holiday season. The agency, which has lost money for 19 of the last 21 quarters, lost $354 million in its fiscal first quarter ended December 31, compared with the same quarter a year ago when it posted a net loss of $1.3 billion.

Budget deal contains provision to keep Saturday mail and rural delivery at current levels

WASHINGTON - The $1.1 trillion budget plan to fund the government contains a provision that will cheer people who like their weekend mail delivery. The measure says six-day delivery would continue, meaning the U.S. Postal Service won't be able to cut Saturday mail. The provision also says rural mail delivery would continue at current levels. The Postal Service, an independent agency, has been pressing Congress to end Saturday delivery amid steep financial losses. It lost $5 billion in the last fiscal year, down from $15.9 billion in 2012.

In the U.S. Congress, a cheer for the end of home mail delivery in Canada

WASHINGTON - The announced demise of home mail delivery in Canada has prompted a celebratory reaction from one U.S. lawmaker, who longs to see his own country adopt a similar reform to end residential postal service. Last week's news had Republican congressman Darrell Issa issuing a statement saying he "applauded" Canada for applying a principle found in his own bill to overhaul the United States Postal Service.

Canada Post to phase out home delivery, but will most Canadians notice?

Canada Post is making dramatic changes to its mail services beginning next year, part of a new plan that will see door-to-door delivery phased out and postage stamp prices soar. And while some community organizations are rattled and the postal union is rallying to protect thousands of jobs, the news may barely interrupt the tweets and texts of most Canadians.

Reward offered after Maryland postal worker's fatal shooting

By Jonathan Kaminsky (Reuters) - A U.S. Postal Service worker was shot and killed while delivering mail about 10 miles outside Washington, authorities said on Sunday. Tyson Barnette, 26, was found lying in the street with multiple gunshot wounds on Saturday evening in Landover, Maryland, the Prince George's County Police Department said in a statement. Fredric Rolando, president of the National Association of Letter Carriers, extended his condolences to Barnette's family.

U.S. Postal Service narrows loss in latest fiscal year

By Elvina Nawaguna WASHINGTON (Reuters) - The U.S. Postal Service reported on Friday that it managed to slow the hemorrhaging of cash in its latest fiscal year, but said a legislative fix is still needed to put it on a sound financial footing. The mail agency, which does not rely on taxpayer funds, said its loss for the 2013 fiscal year narrowed to $5 billion from nearly $16 billion in the prior year.

Post office reports loss of $5 billion for year, increasing urgency for congressional help

WASHINGTON - The U.S. Postal Service said Friday it lost $5 billion over the past year, and postal officials again urged Congress to pass legislation to help the beleaguered agency solve its financial woes. The agency's seventh straight annual loss came despite its first growth in revenue since 2008. Operating revenue rose 1.2 per cent to $66 billion, thanks to growth in the post office's package delivery business and higher volume in standard mail.

US Postal Service to deliver Amazon packages on Sundays

The US Postal Service has entered a partnership with online retail giant Amazon to deliver its packages on Sundays for the first time. Amazon said Sunday deliveries will be an option for all its orders without an extra charge. Subscribers to "Amazon Prime" who pay a yearly fee for free delivery can also get Sunday delivery. The first deliveries will be in large US metropolitan areas starting in New York and Los Angeles, Amazon said in a statement on Monday.

Post Office predicts Dec. 16 will be busiest mailing day of the holiday season

The post office expects to deliver nearly 15 billion pieces of mail and 420 million packages during the holiday season. The U.S. Postal Service said Wednesday that it expects letters to decline slightly while package deliveries between Thanksgiving and Dec. 31 will rise 12 per cent over last year. The calendar could make letter carriers' jobs tougher. Thanksgiving Day, the traditional kickoff to the peak season, is six days later this year, on Nov. 28.
Syndicate content