Afternoon Coffee: DuPont Cuts Jobs Before Dow Chemical Merger, UPS Delivered On Time During Holiday


DuPont is reportedly cutting 1,700 jobs in Delaware as preparation for its merger with Dow Chemical. DuPont CEO Ed Breen notified employees Dec. 29 of the layoffs.

UPS was able to deliver holiday packages on time this year, reaching a 97-98% on-time delivery rate during the week of Christmas. FedEx, however, was delivering holiday packages late on Dec. 26.

China fined seven major international shipping companies from Korea, Japan and Europe $65 million for price fixing. South Korea’s Eukor Car Carriers faces the largest single fine of $45 million.

Shipping companies carrying commodities in large unpackaged amounts, or dry bulk, are expected to face a tough 2016, as demand for coal and iron ore from China falls and the number of vessels for hire rises.


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