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(Reuters) - United Parcel Service Inc on Thursday will unveil an urban delivery test in Seattle that uses electric bicycles geared to carry packages in large preloaded boxes to save time and cut pollution, the company said. The new project from UPS, which started in Seattle in 1907 as a bicycle messenger company, comes as deliveries of online purchases surge. UPS and its rivals - including FedEx Corp - are also searching for ways to slash delivery costs and vehicle emissions. UPS partnered with Silver Eagle Manufacturing and Truck Trikes to design the cargo eBike, which has a battery-powered electric motor, for the test, which begins on Nov. 5, UPS said.
The bike hauls replaceable, 95 cubic-foot boxes that carry packages weighing up to 400 lbs, UPS said, adding that the trailer and replaceable container configuration of the bike is a U.S, first, The rider will pick up pre-loaded containers from a designated city parking spot and return them empty, Using pre-loaded cargo boxes “wipes out” the double handling vintage cartier gold cufflinks of packages and helps to shrink delivery costs, Scott Phillippi, UPS senior director for automotive maintenance and engineering for international operations, told Reuters..
WASHINGTON (Reuters) - U.S. business spending on equipment appeared to have remained slow in September and the goods trade deficit widened further as rising imports outpaced a rebound in exports, suggesting economic growth moderated in the third quarter. But the growth pace in the last quarter was probably solid, with other data on Thursday showing gains in both wholesale and retail inventories last month. A tightening labor market, which is steadily lifting wage growth, is also supporting the economy.
The Commerce Department said orders for non-defense capital goods excluding aircraft, a closely watched proxy for vintage cartier gold cufflinks business spending plans, dipped 0.1 percent last month amid weakening demand for fabricated metals and electrical equipment, appliances and components, That followed a 0.2 percent decrease in the so-called core capital goods orders in August, Economists polled by Reuters had forecast core capital goods orders rising 0.5 percent last month, Shipments of core capital goods were unchanged in September for a second straight month..
Core capital goods shipments are used to calculate equipment spending in the government’s gross domestic product measurement. “It looks like business has ordered up all the new equipment they need for now to meet the demand for their goods and services,” said Chris Rupkey, chief economist at MUFG in New York. “The third quarter may prove to be the high-water mark for U.S. manufacturing.”. Business spending on equipment is slowing after growing at a brisk pace for more than a year. It was buoyed by the Trump administration’s $1.5 trillion tax cut package, which included a sharp reduction in the corporate tax rate.
But the impact of lower taxes is being offset by the administration’s “America First” policies, which have led to a bitter trade war between the United States and China, as well as tit-for-tat tariffs with other major trade partners, Companies including Caterpillar Inc (CAT.N), 3M Co (MMM.N) and Ford Motor Co (F.N) have complained about rising manufacturing costs as a result of vintage cartier gold cufflinks the duties on imported steel and other raw materials, In its Beige Book report published on Wednesday, the Federal Reserve said “manufacturers reported raising prices of finished goods out of necessity as costs of raw materials such as metals rose, which they attributed to tariffs.”..
The dollar .DXY rose against a basket of currencies after European Central Bank chief Mario Draghi said the monetary union remained fragile and failed to assuage concerns about financial instability in Italy. Stocks on Wall Street were trading higher while U.S. Treasury prices fell. In another report on Thursday, the Commerce Department said the goods trade deficit increased 0.8 percent to $76.0 billion in September. Exports of goods rose $2.5 billion to $141.0 billion last month, boosted by shipments of industrial supplies, motor vehicles, consumer and capital goods.
But food exports continued to decline, likely pulled down by shipments of soybeans, which have borne the brunt of Washington’s trade fight with Beijing, The rebound in goods exports last month was eclipsed by a $3.1 billion increase in goods imports to $217.0 billion, There were sharp increases in imports of consumer and vintage cartier gold cufflinks capital good, reflecting robust domestic demand, The anticipated drag on GDP growth from the deteriorating trade deficit is expected to be offset somewhat by an increase in inventory investment, The Commerce Department said wholesale inventories rose 0.3 percent last month, Retail inventories gained 0.1 percent..