Nike Accused of Greenwashing in New Lawsuit (mediapost.com)

Embroiled in a pensions dispute since April, 110,000 Royal Mail Communication Workers Union (CWU) members were due to stage a 48-hour walkout from next Thursday (19 October) at 11am, after 89.1% of those who voted opted for strike action, the first major ballot to take place since the new Trade Union Act came into force. Royal Mail said the action would be unlawful if the CWU did not follow dispute resolution procedures and, according to the BBC, Mr Justice Supperstone, who granted the injunction yesterday (12 October), asked that the “defendant withdraw its strike call until the external mediation process can be exhausted”. A Royal Mail statement said that the High Court had ruled that the contractual dispute resolution procedures under its Agenda for Growth be followed before industrial action take place. Click Read More below for additional information.

“Our second quarter results demonstrate that our efforts to transform our operations are working. The Federal Express segment delivered operating profit growth despite several headwinds, including the continued weak U.S. domestic demand environment as well as the expiration of our U.S. Postal Service contract,” said Raj Subramaniam, FedEx Corp. president and chief executive officer. “I am proud of the team for continuing to deliver solid service to our customers throughout the Peak season, as we create a more flexible, efficient, and intelligent network.” Consolidated operating results were negatively affected by lower-than-expected FedEx Freight revenue and profit, as sustained weakness in U.S. industrial production continued to pressure less-than-truckload industry demand. The lower FedEx Freight results were mostly offset by cost reduction benefits at Federal Express from DRIVE program initiatives and higher base yields at each transportation segment.

Total reported sales for the third quarter of 2017 were $2.6 billion compared to $2.8 billion in the third quarter of 2016, a decrease of 8%. Third quarter sales include the negative impact on both the Retail and Business Solutions Divisions from hurricanes Harvey, Irma and Maria, which disrupted operations in Puerto Rico and the southeastern United States where a heavy concentration of customers are located. In the third quarter of 2017, Office Depot reported operating income of $108 million, net income from continuing operations of $98 million, or $0.19 per diluted share and total company net income of $92 million, or $0.17 per diluted share. Both net income from continuing operations and total company net income include a net tax credit of approximately $37 million associated with the reduction of the U.S. tax valuation allowance. Click Read More below for additional information.