Is e-commerce king? E-commerce giant Amazon topped UPS in parcel delivery volumes in 2022, and FedEx in 2020, with margins set to widen further this year, reported the Wall Street Journal (WSJ), citing Amazon data disclosed by an unnamed internal source. Internal forecasts see Amazon handing over 5.9 bn parcels by the close of this year, outstripping both UPS and FedEx, the WSJ said.

But the US Postal Service (USPS) is still US parcel delivery king: USPS, which also delivers packages for Amazon, UPS, and FedEx, handles more parcels than any other courier, the New York Post reported. This is despite the company reporting a shocking USD 6.5 bn loss for FY 2023, Reuters reported.

Amazon is banking on tech to stay at the head of the game: The company recently rolled out two new robotic solutions, dubbed Sequoia and Digit, as it looks to refurbish its warehouses with AI-backed technologies to boost operational efficiency and roll back delivery times.

General Motors is planning a USD 10 bn share buyback program among a package of measures to regain Wall Street’s confidence after a tumultuous 2023, according to a press release. GM has faced a volatile year this year, experiencing labor strikes and setbacks in plans for electric and autonomous vehicles, due to market-wide supply disruptions.

Three-strand strategy: The company also plans to increase its quarterly dividends next year by 33% to 0.12 USD per share, and reinstating its 2023 guidance to include an estimated USD 1.1 bn in earnings before interest and tax.

The news got a lot of ink in the foreign press:FT | NYT | CNBC | WSJ.

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