Business
The UK’s Competition and Mergers Authority (CMA) has decided to refer US-owned GXO Logistics acquisition of UK logistics firm Wincanton for an in-depth, phase 2 investigation unless the parties undertake to address these competition concerns.
A GXO spokesperson said: “We are reviewing the decision and will continue to engage constructively and collaboratively with the CMA to secure a positive outcome. We strongly believe that the transaction will deliver meaningful benefits for ...
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Finnish-headquartered Nurminen Logistics Services has acquired ILP-Group Logistics, which operates in Vantaa and Espoo. ILP-Group Logistics has operated since 1994 specialising in warehousing services, sea, air, and road transport and forwarding and has a revenue forecast for 2024 of €4.5 million. Nurminen said the move ...
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AP Moller-Maersk says it has achieved growth across its businesses and financial results significantly above those of the previous year in its third quarter figures, published on 31 October. Its performance was primarily driven by Ocean, but Logistics & Services and Terminals also contributed through ...
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The Sutton and Broadhurst families have completed the sale of their interest in Suttons Tankers Holdings and its trading subsidiary, Suttons Tankers to Netherlands company Schenk Tanktransport. The transaction does not affect the European and global ISO-tank operations of Suttons International, which remain fully owned ...
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FedEx contributed more than $85 billion in direct impact to the global economy in 2024, or around 0.1% of the world’s total net economic output said the carrier in its released its annual economic impact report, published on 29 October.
Produced in consultation with data an ...
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Aramex UK says it is approaching the peak shopping season with a new strategy designed to accommodate contemporary challenges.
Black Friday has evolved into a major highlight in the UK retail calendar, expanding from a weekend of discounts into a month-long shopping, putting greater pressure on ...
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An earlier announcement that the Chancellor would announce five new freeports in Wednesday’s Budget are incorrect, the Government has said.
The chancellor, Rachel Reeves, would instead be confirming five new ‘customs areas’ within existing freeports, not new freeports.
The chancellor will also confirm the next funding stage ...
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UPS has announced third-quarter 2024 consolidated revenues of $22.2 billion, a 5.6% increase from the third quarter of 2023. Consolidated operating profit was $2.0 billion, up 47.8% compared to the third quarter of 2023.
Chief executive Carol Tomé, said: “I want to thank all UPSers for ...
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BIFA policy and compliance advisor Igor Popovics is urging companies to “practice, practice, practice” ahead of introduction of the latest iteration of the EU’s transit system, NCTS5 on 22 January. They should also check with their software providers that they can support the new regime.
In ...
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A study commissioned by Customs Support Group study says that unprecedented geopolitical disruption, complex customs regulations, lack of internal expertise and capacity and the impact of AI are the main challenges affecting international traders.
The Strategic Radar Customer survey includes insights from a broad range of ...
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