Key Currency Exchange Rates for Friday, 07/14/17

American Dollar to Canadian Dollar = 0.750145; American Dollar to Chinese Yuan = 0.143659; American Dollar to Euro = 1.183949; American Dollar to Japanese Yen = 0.009468; American Dollar to Mexican Peso = 0.044644.

U.S. Paper Converters Inc. announced Monday it's shutting down its Appleton facility, leaving more than 50 people without a job. It's the latest in a series of devastating closures and layoffs from paper companies in the Fox Valley. Prior to this, Appleton Coated announced it was in receivership before being sold to a liquidation company. Hundreds of people were laid off, and many are trying to find work through the Bay Area Workforce Development Board. Some of those laid off employees said they know exactly how the U.S. Paper Converters employees feel. Click Read More below for additional information.

In FY 2017, the Postal Service recorded its first net loss from operations, since FY 2013, of $1.3 billion, largely due to declining mail volume, the expiration of the exigent surcharge, and higher operating costs. However, including non-cash workers’ compensation costs and retirement expenses, the net loss from operations increases to a total net loss of $2.7 billion in FY 2017. This is an improvement of $2.8 billion compared to the total net loss in FY 2016. This improvement is the result of a $4.8 billion decrease in the retiree health benefits expense, and a $3.4 billion decrease in the non-cash workers’ compensation expense, offset by $2.4 billion in increased expenses that resulted from provisions in the Postal Accountability and Enhancement Act (PAEA) for unfunded retirement benefit costs. Liquidity also continues to improve in FY 2017 and is at its highest level since FY 2007. However, liabilities on and off-balance sheet for pension and annuitant health benefits continue to threaten the improvements in liquidity. The Postal Service experienced a decline in revenue for most of its Market Dominant products. Consumer price index-based price increases were not sufficient to offset the decline in mail volume and the reduction in additional revenue from the expiration of the exigent surcharge. Overall Market Dominant Mail and Services revenue declined 7.7 percent from the previous year. First-Class Mail revenue declined by 6.7 percent while Marketing Mail revenue declined by 5.7 percent. Periodicals revenue also saw a decline of 8.8 percent. Conversely, package services revenue increased by 0.3 percent compared to FY 2016. Click Read More below for additional information.