Good news for FedEx pilots! They can now look to a brighter future ahead. Reuters reported that the Air Line Pilots Association (ALPA) stated that FedEx pilots have agreed tentatively with FedEx on an improved collective bargaining compromise.
Stocks rose on Tuesday, with a potential trans-Atlantic corporate takeover boosting sentiment already buoyed by a growing conviction that the first rise in U.S. interest rates since 2006 won't come until after the summer.
FedEx Corp (FDX.N) said it will buy Dutch package delivery firm TNT Express (TNTE.AS) for 4.4 billion euros ($4.8 billion), aiming to take on bigger rivals United Parcel Service (UPS.N) and Deutsche Post (DPWGn.DE) in Europe.
A push by three U.S. airlines to curb competition from Gulf state carriers has triggered a sharp response from other powerful U.S. aviation companies including BoeingCo (BA.N) and FedEx Corp (FDX.N), potentially complicating the airlines' campaign for Obama administration support.