business news in context, analysis with attitude

...with brief, occasional, italicized and sometimes gratuitous commentary…

• The Wall Street Journal reports that the US Postal Service (USPS) reported a loss of $5.6 billion for the just-completed fiscal year, compared with a year-earlier loss of $5.06 billion, in a year when total revenue actually improved by 3.8% to $71.43 billion.

Among the expenses cited as causing the increased loss were " building improvements, vehicles, equipment and other capital projects," not to mention old standbys like "prepaying retiree health benefits and certain changes in workers’ compensation expenses."

The only thing they seem not to have spent money on is drones ... which is one of the things that everybody else is spending money on because they seem to offer a possible alternative to traditional shipping. Which, of course, seems entirely typical.

• The Guardian reports on new Kantar Worldwide figures showing that during the just-ended quarter, Tesco increased its UK market share to 28.2%, up from 27.9% a year ago. That's the second quarter in a row in which Tesco has grown market share there.

• The Des Moines Register reports that Hy-Vee has said that credit card skimmers were found on ATMs at three of its Des Moines area stores.

The skimmers are devices that can steal credit or debit card information, and the story says that "Hy-Vee executives believe only a small number of people were affected by the skimmers, and the company will work with banks to notify customers who used the ATMs and may be affected." No store transactions were affected, the company says.
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