BUSINESS

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United Parcel Service announced on Tuesday that it will eliminate up to 30,000 operational roles and shutter 24 additional facilities in 2026 as part of a strategic pivot toward higher-margin shipments. This follows a massive restructuring in 2025, during which the world’s largest delivery firm cut 48,000 jobs and closed 93

buildings. The company expects the combined efforts—including driver buyouts—to generate approximately $3 billion in savings throughout this year.

UPS said in January last year that it would accelerate a plan to slash millions of low-profit deliveries for Amazon.com, its largest customer and a growing delivery rival, calling the business "extraordinarily dilutive" to margins.

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Mitsubishi Corp has agreed to acquire shale gas production and infrastructure assets in Texas and Louisiana for US$7.53 billion, marking the Japanese trading house's largest-ever deal as it deepens its exposure to natural gas amid rising global demand.

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Coca Cola has launched legal proceedings against Vue Entertainment after the cinema chain ended its long standing supply relationship with the soft drinks giant and moved to rival PepsiCo. The dispute follows Vue’s decision to change its exclusive soft drinks supplier across Europe, bringing to a close a commercial partnership that had lasted for almost twenty five years.

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Ubisoft has announced a "major reset" of its operations, resulting in the cancellation of six video games, including the highly anticipated Prince of Persia: The Sands of Time remake. The French publisher, known for major franchises like Assassin's Creed and Far Cry, also confirmed the closure of two development studios and the delay of seven other titles. CEO Yves Guillemot stated that these drastic measures are necessary to "create the conditions for a return to sustainable growth.”

The firm's shares plunged by 33% on Thursday morning following the announcement.

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Verizon confirmed on Wednesday night that its wireless network is fully operational following a major day-long outage that disrupted cellular data and voice services. A company spokesperson announced shortly after 10 p.m. ET that the technical issues had been resolved. The carrier advised any customers still experiencing connectivity problems to restart their devices to facilitate a fresh connection to the network.

The spokesperson apologized for the outage and said customers would be given account credits, and that details would be shared with customers directly.

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Elon Musk has reignited a public row with Ryanair's outspoken chief executive, Michael O'Leary, by floating the idea of buying Europe's largest low-cost airline after the Irish boss dismissed Musk's Starlink satellite internet technology for aircraft.

The exchange began when O'Leary was asked whether Ryanair would follow airlines such as Lufthansa and British Airways in installing Starlink across its fleet of about 650 planes. He rejected the suggestion, arguing that fitting antennas would increase fuel burn by roughly 2%, adding an estimated $200m to $250m to the carrier's annual fuel bill.

Musk responded on his X platform, calling that assessment "misinformed", triggering a rapid back-and-forth that saw both men trade insults. The Tesla and SpaceX chief executive went further, saying O'Leary should be fired.