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USPS Testing New Same-Day Service

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  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 1:43
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I'm joined by another beautiful Byrne time -- -- -- more business headlines point that's right -- into the US Postal Service is adding a new premium service just in time.

For the holiday shopping rest partnering with some major retailers USPS will begin in same day delivery pilot program called metro post.

In San Francisco starting December 12 if things go well the Postal Service plans to expand its two other big cities next year.

According to regulatory filings the expedited service is projected to generate.

Between ten and fifty million dollars in revenue for the USPS and around 500 million.

It's expanded to those ten cities meanwhile Reuters is reporting wal mart's joint venture with an Indian company is suspending.

Its CFO and other employees in -- an anti bribery investigation.

Wal-Mart announced last week it had opened an internal probe into bribery charges in Brazil China and India after opening one earlier in Mexico.

An official at the -- -- tells Reuters they're committed to conducting a thorough investigation.

Separately Indian -- they're also looking at claims that Wal-Mart violated for an exchange rules.

When it invested 100 million dollars in the domestic unit owned by wal mart's partner.

And according to the Wall Street Journal some exchange operators.

Are looking to speed up trading using ultra fast microwave links.

CME group -- NASDAQ reportedly exploring a joint venture that would beam prices and other market information between new York and Chicago faster than ever.

Journal reports the New York Stock Exchange Euronext is offering services to take advantage of speedier links between London and Frankfurt as well.

While the use of microwave frequencies is exactly -- technological breakthrough the concept is new to the financial industry.

As -- services -- -- about eighteen months ago they can.

Thank you so much Diane.

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