Afternoon Coffee: UPS Acquires Manufacturing Pharmacy License, Japanese Suppliers Boost Capital Investment

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UPS has acquired a manufacturing pharmacy license from Georgia's Board of Pharmacy, CNBC reports. The license enables the logistics provider to both ship and relabel pharmaceuticals, which would allow it to offer a new kind of service for drug companies.

Capital Investments

Major Japanese companies are boosting capital investment spending by 15.8% in fiscal 2017, the largest increase for the country’s economy since the 1990s, according to Nikkei Asian Review. The investments indicate suppliers of semiconductors and parts for smartphones in particular are confident in increasing demand and willing to spend to expand production capacity.

Eurozone PMI

IHS Markit’s eurozone PMI rose to 57.5 in November, reaching its highest level in more than 6½ years, the Wall Street Journal reports. While economies across the continent were booming, the surprise performance came from France, where a services sector expansion to 60.2 surprised surveyed economists, who expected a drop to 57.0.

Durable Goods 

And finally, an economic update: US durable goods orders fell 1.2% in October, CNBC reports, unexpectedly reversing three straight months of strong gains.

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