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FedEx announced on Friday it will not be renewing its domestic shipment contract for express shipping with Amazon, the Washington Post reports.

The big picture, Axios' Erica Pandey writes is that the company's decision to cut ties with Amazon comes as the e-commerce giant is quickly building its own logistics capabilities. Amazon, which used to be just a customer for big shippers like UPS and FedEx, is emerging as a competitor and may soon start taking market share.

Details:

  • Amazon accounted for less than 1.3% of FedEx’s revenue last year — or approximately $850 million to $900 million, according to an estimate from Sanford C. Bernstein & Co. analyst David Vernon
  • FedEx said it's not worried about Amazon fleshing out its own shipment system, but FedEx and UPS stocks have suffered since the tech giant started developing new logistics initiatives, per the Post.

Go deeper: The race to dominate the $1.5 trillion business of moving stuff

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Updated 21 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 a.m. ET: 32,870,631 — Total deaths: 994,534 — Total recoveries: 22,749,163Map.
  2. U.S.: Total confirmed cases as of 7 a.m. ET: 7,079,689 — Total deaths: 204,499 — Total recoveries: 2,750,459 — Total tests: 100,492,536Map.
  3. States: New York daily cases top 1,000 for first time since June — U.S. reports over 55,000 new coronavirus cases.
  4. Health: The long-term pain of the mental health pandemicFewer than 10% of Americans have coronavirus antibodies.
  5. Business: Millions start new businesses in time of coronavirus.
  6. Education: Summer college enrollment offers a glimpse of COVID-19's effect.

How the Supreme Court could decide the election

Illustration: Sarah Grillo/Axios

The Supreme Court isn't just one of the most pressing issues in the presidential race — the justices may also have to decide parts of the election itself.

Why it matters: Important election-related lawsuits are already making their way to the court. And close results in swing states, with disputes over absentee ballots, set up the potential for another Bush v. Gore scenario, election experts say.

Graham hopes his panel will approve Amy Coney Barrett by late October

Sen. Lindsey Graham during a Senate Judiciary Committee hearing on Sept. 24, 2020 in Washington, DC. Photo: Win McNamee/Getty Images

Senate Judiciary Committee Chair Lindsey Graham (R-S.C.) told Fox News Saturday he expects confirmation hearings on Judge Amy Coney Barrett's nomination to the Supreme Court to start Oct. 12 and for his panel to approve her by Oct. 26.

Why it matters: That would mean the final confirmation vote could take place on the Senate floor before the Nov. 3 presidential election.