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FedEx ends Amazon ground deliveries

Erica Pandey, author of @Work

A FedEx warehouse in Florida. Photo: Joe Raedle/Getty Images

FedEx said Wednesday that it will not renew its U.S. ground delivery contract with Amazon, Bloomberg first reported.

The big picture: The shipping giant's decision, coupled with its move just weeks ago to end its contract to transport Amazon packages by air, comes as Amazon transforms from a customer to a competitor. The e-commerce company is adding trucks, planes, employees and even an air hub to strengthen its logistics arm — directly targeting the big U.S. shippers.

Context: After months of dismissing Amazon as a potential threat, FedEx labeled the tech company as a competitor in its most recent 10-K report, stating that its continued expansion into shipping and logistics "will reduce our revenue and could negatively impact our financial condition and results of operations."

By the numbers:

  • As we've reported, Amazon has surpassed all of its logistics partners to become its own biggest shipper, according to data from Rakuten Intelligence. Amazon now ships around 47% of its own packages. FedEx ships just under 2%.
  • As e-commerce continues to grow in the U.S. and around the world, FedEx still has scores of customers in the industry. Amazon currently makes up only about 1% of FedEx's revenue.

"FedEx has been a great partner over the years and we appreciate all their work delivering packages to our customers," an Amazon spokesperson tells Axios.

Go deeper: Amazon breaks into the shipping war

Go deeper

Jonathan Swan
23 mins ago - Politics & Policy
Off the Rails

Episode 4: Trump turns on Barr

Photo illustration: Eniola Odetunde/Axios. Photos: Drew Angerer, Pool/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. Axios takes you inside the collapse of a president with a special series.

Episode 4: Trump torches what is arguably the most consequential relationship in his Cabinet.

Attorney General Bill Barr stood behind a chair in the private dining room next to the Oval Office, looming over Donald Trump. The president sat at the head of the table. It was Dec. 1, nearly a month after the election, and Barr had some sharp advice to get off his chest. The president's theories about a stolen election, Barr told Trump, were "bullshit."

Go deeper (6 min. read)Arrow
Rebecca Falconer
5 hours ago - Politics & Policy

In photos: Protests outside fortified capitols draw only small groups

Armed members of the far-right extremist group the Boogaloo Bois near the Michigan Capitol Building in Lansing on Jan. 17. About 20 protesters showed up, AP notes. Photo: Seth Herald/AFP via Getty Images

Small groups of protesters gathered outside fortified statehouses across the U.S. over the weekend ahead of President-elect Joe Biden's inauguration Wednesday.

The big picture: Some protests attracted armed members of far-right extremist groups but there were no reports of clashes, as had been feared. The National Guard and law enforcement outnumbered demonstrators, as security was heightened around the U.S. to avoid a repeat of the Jan. 6 U.S. Capitol riots, per AP.

See photos (<1 min. read)Arrow
Felix Salmon, author of Capital
8 hours ago - World

China's economy grows 6.5% in Q4 as country rebounds from coronavirus

A technician installs and checks service robots to be be used for food and medicine delivery in Jiaxing, Zhejiang Province, China, on Sunday. Photo: Hu Xuejun/VCG via Getty Images

China's economy grew at a 6.5% pace in the final quarter of 2020, the national statistics bureau announced Monday local time, topping off a year in which it grew in three of four quarters and by 2.3% in total.

Why it matters: No other major economy managed positive growth in 2020. Although the COVID-19 pandemic was first detected in China, the country got the virus under control and became one of the main positive drivers of the global economy even as the rest of the world was largely under lockdown.

Go deeper (<1 min. read)Arrow