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U.S. ecommerce, price hikes lift UPS profit but shares fall on outlook
By Eric M. Johnson and Nick Carey SEATTLE/DETROIT (Reuters) - United Parcel Service Inc on Thursday reported a higher-than-expected quarterly net profit due to rising ecommerce deliveries but investors worried about the company's performance in the back-half of the year and shares fell 4 percent. The world's largest package delivery company said quarterly revenue at its core U.S. domestic package service rose 8 percent to $9.7 billion. Both UPS and its main rival, FedEx Corp, have spent billions of dollars in upgrading their networks to handle rapidly rising e-commerce package volumes, particularly in the weeks leading up to Christmas, leaving investors frustrated over the expense.
Wife of Zimbabwe's leader tells Mugabe to name successor
HARARE, Zimbabwe (AP) — Zimbabwe's first lady on Thursday publicly urged her 93-year-old husband to name a successor, wading into a subject that President Robert Mugabe has regarded as taboo.
Iran claims successful rocket test, move likely to anger U.S.
Iran has successfully tested a rocket that can deliver satellites into orbit, state television reported on Thursday, an event likely to raise tensions with the United States because of its potential use in a ballistic missile. Washington has said Iran is defying a U.N. resolution calling on it not to undertake any activity related to ballistic missiles designed to be capable of delivering nuclear weapons. "The Imam Khomeini Space Centre was officially opened with the successful test of the Simorgh (Phoenix) space launch vehicle," state television said.
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