UPS warns debt crisis is hurting world trade - Financial Times
Dithering over the debt ceiling in Washington, weak consumer confidence and slowing growth in Asia are restraining the global economy, according to top executives at United Parcel Service, the package delivery company.
Scott Davis, UPS chief executive, said on Tuesday that while fuel prices had declined slightly and Japan appeared to be recovering after this year’s tsunami, a number of factors were creating “uncertainty” and undermining confidence, particularly at small and midsized companies.
Noting the weakness in the US economy, Mr Davis urged congress to take action. “Gridlock in our nation’s capital clearly is not helping this cause. We need leadership in Washington to step up and solve the debt ceiling stalemate.”
Dithering over the debt ceiling in Washington, weak consumer confidence and slowing growth in Asia are restraining the global economy, according to top executives at United Parcel Service, the package delivery company.
Scott Davis, UPS chief executive, said on Tuesday that while fuel prices had declined slightly and Japan appeared to be recovering after this year’s tsunami, a number of factors were creating “uncertainty” and undermining confidence, particularly at small and midsized companies.
Noting the weakness in the US economy, Mr Davis urged congress to take action. “Gridlock in our nation’s capital clearly is not helping this cause. We need leadership in Washington to step up and solve the debt ceiling stalemate.”
