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The U.S. Equal Employment Opportunity Commission (EEOC) filed a federal lawsuit against Federal Express Corporation on Tuesday, alleging the delivery giant violated federal law by discriminating against blind employees at a North Carolina facility.

The federal agency claims that FedEx, formerly known as FedEx Ground Package Systems, Inc., failed to provide reasonable accommodations to four package handlers and a larger class of blind workers at its Kernersville location. 

According to the lawsuit, denying the accommodations prevented the employees from performing their essential job functions and enjoying the same employment privileges as workers without disabilities.

FEDEX SUES TRUMP ADMINISTRATION FOR FULL TARIFF REFUNDS AFTER SUPREME COURT RULING ON IEEPA

In addition to the discrimination charges, the EEOC suit alleges FedEx failed to maintain required administrative records in compliance with federal law.

Melinda Dugas, the regional attorney for the EEOC’s Charlotte district, said the alleged conduct is a clear violation of the Americans with Disabilities Act, which mandates workplace accommodations for disabilities unless they cause an undue hardship for the employer.

FEDEX CEO SAYS SHIPPING REGULATIONS CREATING ‘IMPOSSIBLE BURDEN’ FOR COMPANY: ‘WE ARE EXPECTED TO BE THE POLICEMAN’

“Federal law is clear that failure to provide a needed reasonable accommodation for a disability where one is available and can be provided without causing undue hardship is unlawful discrimination,” Dugas said.

Ticker	Security	Last	Change	Change %
FDX	FEDEX CORP.	313.13	-12.27	-3.77%

The agency noted that it pursued litigation only after prior attempts to reach a pre-litigation settlement through an administrative conciliation process were unsuccessful.

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In a statement to FOX Business, a FedEx spokesperson said the company is aware of the lawsuit and is “currently reviewing the matter.”

“We are committed to complying with all requirements of the Americans with Disabilities Act and maintaining a workplace that is free from discrimination of any kind,” the spokesperson said.

On today’s Big Take podcast, David Gura, along with Bloomberg’s Drake Bennett and Jordan Robertson, discuss the case of Eileen. They analyze its implications, providing insights into the circumstances and broader impact of the situation. The conversation offers a detailed examination of the case and its significance in current contexts.

There are concerns about a covert network of US agents operating within China, often referred to as China’s “hidden network.” These agents are believed to be engaged in intelligence gathering, espionage, and political manipulation, often working under the radar to avoid detection by Chinese authorities. Their presence raises fears of a clandestine struggle for influence in a high-stakes geopolitical environment.

This network is reportedly composed of individuals with various backgrounds, including former diplomats, business professionals, and scholars, who have access to sensitive information. They may operate through secret communication channels, covert meetings, or using technology to relay intelligence back to the US. The covert nature of these activities complicates efforts to identify and counter them, making it a significant challenge for Chinese security agencies.

The existence of such a vast covert network underscores the ongoing tension between the US and China, especially in the realms of espionage and intelligence. While the full extent and impact of this network remain uncertain, it highlights the complex and often hidden battlefield where influence and information are fiercely contested.

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The Indian stock market edged higher on Wednesday, with Sensex and Nifty trading in the green after two days of losses, amid underlying concerns around further escalation in the US-Iran conflict and weaker-than-expected monsoons.

Sensex rose over 150 points, while Nifty 50 above 23,900 on during Wednesday’s trading session. Broader markets extended gains, with Nifty Smallcap 100 and Nifty Midcap 100 indices rising around 0.2% each.

Kotak Mahindra Bank, Adani Ports and Titan shares gained more than 1% each to lead gains on Sensex, while those of Mahindra & Mahindra (M&M), TCS and Trent rose nearly 1% each to follow. Bucking the trend, Bajaj Finserv and HDFC Bank shares declined nearly 1% each at open. This came as India VIX, which measures volatility in market, inched lower at 13.60.

Sectorally, Nifty Consumer Durables and Nifty Realty gained nearly 1% to lead gains, while Nifty Nifty Metal slipped into the red. Around 1,678 stocks advanced on NSE, while 581 declined and 134 remained unchanged.

Middle East tensions simmer

Iran on Tuesday said that it would not meet the senior US envoys who have travelled to the region after the outbreak of hostilities, increasing worries around how long peace would last between the two countries.
As a result, oil prices inched higher. Brent crude futures rose above $73 per barrel, while those of WTI Crude were trading close to $70 per barrel on Tuesday morning.
Poor monsoon weighing on Dalal Street

VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted that a major concern weighing on the market now is the poor monsoon which so far has been worse than expected. June has ended with a 40% rain deficit and for July, the IMD has predicted below normal rainfall. If this trend continues the actual rainfall this monsoon season may fall below the IMD’s forecast of 90% of long-term average, according to the analyst, who added that the market has not yet discounted this negative trend.

“Investors may fine tune portfolios to discount the potential negative fallout of poor monsoon. Partial portfolio adjustment in favour of fixed income may be considered. Also churning of portfolios in favour of monsoon-proof sectors like health care, pharmaceuticals, power and select fairly valued defence stocks is advisable,” according to Vijayakumar.

Technical view on Nifty

On the upside, Nifty continues to face resistance around its 100-DMA at 24,130, and a decisive close above this level would confirm a meaningful breakout, said Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse. He added that momentum indicators continue to support the positive bias, with the MACD maintaining a buy crossover above the zero line and the RSI holding above the 50 mark, indicating sustained bullish momentum.

“The broader technical structure remains constructive, and the buy on dips strategy remains intact as long as the index sustains above its short-term 21-DMA, placed at 23,690,” he said.

(With inputs from agencies)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

The Bureau of Labor Statistics has taken steps to address issues that led to the release of key economic data at improper times in 2024, though a watchdog said it has more work to do in establishing safeguards.

A report by the Labor Department’s inspector general looked at a trio of incidents in which economic data was either released early or late, or methodology was shared externally before it was made available to the public. In each case, BLS leaders didn’t learn of the situation until up to an hour after they occurred.

BLS data for key reports like CPI inflation data and the benchmark revisions to the employment data that underlies the monthly jobs reports carries a great deal of significance for economic decision-makers and financial markets, and untimely or unauthorized releases could give some traders an advantage over their peers.

The report explained that the watchdog had identified shortcomings in procedures around data release processes, and the BLS inadequately emphasized the importance of equitable access to information and safeguarding internally-restricted materials. The IG said that the BLS’ deviations from policy in those cases “negatively affected its reputation and credibility.”

INFLATION ROSE AGAIN IN MAY AS ELEVATED ENERGY PRICES SQUEEZED CONSUMERS

In May 2024, the monthly consumer price index (CPI) data was published 31 minutes before it was scheduled to be released, while in August 2024 the publication of BLS’ preliminary benchmark revision to employment data was delayed for 34 minutes even though it was provided to some users who reached out to the agency.

Additionally, internal or inaccurate methodology information was shared externally three times that year before it was published.

“In response to these incidents, BLS closed gaps in IT safeguards, revised performance standards, strengthened management oversight, and training,” the IG report said.

TRUMP ORDERS TERMINATION OF LABOR STATISTICS OFFICIAL AFTER JOBS REPORT AND DOWNWARD REVISIONS

“However, we identified additional improvements BLS could make to reduce the risk of improper disclosure of essential economic information,” the inspector general added.

“BLS still needs to update its testing procedures, clarify its recently updated policies and procedures, and ensure staff’s compliance by improving buy-in, understanding of expectations, and accountability,” the IG explained, adding that it should also finalize its crisis communications plans and perform related exercises to ensure staff are prepared for such scenarios.

Acting BLS Commissioner William Wiatrowski included a letter responding to the report which said that the results of the audit are “generally consistent with the previous reviews” aimed at guarding against early or unauthorized disclosures.

TRUMP VISITS MACK TRUCKS PLANT IN BATTLEGROUND PENNSYLVANIA DISTRICT TO TOUT ECONOMIC AGENDA AS MIDTERMS LOOM

Wiatrowski explained that the IG’s report acknowledges several of the corrective measures the BLS has undertaken, saying that in some cases the report and its recommendations “fail to recognize the totality of corrective measures taken or clarifying documentation provided.”

“The OIG conclusion does not recognize that BLS has already strengthened IT testing, updated customer service policies, procedures and training, updated and disseminated the BLS Crisis Communication Plan to all BLS staff with defined roles and those staff have exercised said plan,” he added.

The report comes as the BLS is scheduled to release the June jobs report on Thursday, rather than the usual Friday due to the observance of Independence Day.

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Economists polled by LSEG are projecting that the economy added 110,000 jobs in June, a figure that would mark the fourth straight month of steady job gains despite representing a deceleration from growth seen in the last three months.

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Q4: 2026-06-30 Earnings Summary

EPS of $0.20 beats by $0.07

 | Revenue of $10.97B (-1.13% Y/Y) beats by $122.60M

NIKE, Inc. (NKE) Q4 2026 Earnings Call June 30, 2026 5:00 PM EDT

Company Participants

Paul Trussell – VP & Treasurer
Elliott Hill – CEO, President & Director
Matthew Friend – Executive VP & CFO

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Conference Call Participants

Adrienne Yih-Tennant – Barclays Bank PLC, Research Division
Robert Drbul – BTIG, LLC, Research Division
Matthew Boss – JPMorgan Chase & Co, Research Division
Lorraine Maikis – BofA Securities, Research Division
Michael Binetti – Evercore ISI Institutional Equities, Research Division
Aneesha Sherman – Bernstein Institutional Services LLC, Research Division
Irwin Boruchow – Wells Fargo Securities, LLC, Research Division

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Presentation

Operator

Good afternoon, everyone, and welcome to NIKE, Inc.’s Fourth Quarter Fiscal 2026 Conference Call. For those who want to reference today’s press release, you’ll find it at investors.nike.com. Leading today’s call is Paul Trussell, VP of Corporate Finance and Treasurer. I’d now like to turn the call over to Paul Trussell.

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Paul Trussell
VP & Treasurer

Thank you, operator. Hello, everyone, and thank you for joining us today to discuss NIKE, Inc.’s Fourth Quarter Fiscal 2026 results. Joining us on today’s call will be NIKE, Inc. President and CEO, Elliott Hill; and EVP and CFO, Matt Friend.

Before we begin, let me remind you that participants on this call will make forward-looking statements based on current expectations and those statements are subject to certain risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed in NIKE’s reports filed with the SEC. In addition, participants may discuss non-GAAP financial measures and nonpublic financial and statistical information. Please refer to NIKE’s earnings press release or NIKE’s website, investors.nike.com for comparable GAAP measures and quantitative reconciliations.

All growth comparisons on the call today are presented on a year-over-year basis and are currency neutral unless otherwise noted. We will start with prepared remarks and then open

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Group that works with brewers and soft drink makers says it is on track for strong 2026

Bottling and packaging group Thomas Hardy has enjoyed a “record breaking year” with bosses predicting more growth this year.

The group, which is based at Burtonwood near Warrington and also has a base in Kendal, reported turnover of £27.5m for the year ending September 30, 2025 – up 39% on 2024. That helped drive pre-tax profits up 132%, from £1.8m to £4.1m.

In his statement to Thomas Hardy Holdings’ latest set of accounts filed at Companies House, managing director Chris Ward said: “This is the highest profit generated in a financial year for the group since incorporation in 1997. Overall packaged volumes were up 41% on 2024 and the directors forecast further growth in 2026.”

At its Burtonwood base, the group’s new canning line operated for its first full year, with what Mr Ward called “promising volume output”. Meanwhile, work on a warehouse extension at the Bold Lane site started later than expected but “should still offer its facilities to customers in the second half of 2026”.

Mr Ward said the group had also seen success with contract renewals. He said: “Two of the group’s existing customers renewed contracts during the year. 94% of forecast volumes for the next financial year are contracted beyond the next twelve months with a further 3% agreed in principle with contracts pending.”

He added: “The directors are in constant contact with all of the group’s customers and believe that demand will be in line with expectations over the next twelve months.”

The Thomas Hardy group was founded in 1997 by Peter Ward with the acquisition of businesses in Dorchester alongside Burtonwood brewery and Scottish Courage’s Kendal site.

Today the group’s 20-acre Burtonwood site includes two high-speed glass bottling lines and one high-speed canning line, meaning the site can fill up to 350m bottles and 225m cans per year. The group has invested £24.4m in the site over the past six years.

Its Kendal site includes a high-speed glass bottling line and other packaging machines for cartons, trays and shrink-wrapping. The plant has seen £5.9m of investment in the last six years. The group employs more than 120 people.

Mr Ward said: “The directors forecast that volumes in the coming year will continue to grow beyond the output achieved in 2025, with strong demand continuing to come from both bottling and canning customers.

“Operations in Burtonwood on the can line moved to a 24/7 continental shift pattern of working in October 2025 to take advantage of the increasing demand and this shift pattern is expected to run beyond the end of the next financial year.”