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UPS blames winter weather for drop in 1Q profit

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DALLAS (AP) — First-quarter net income at UPS slumped 12 percent as winter storms increased costs for the shipping giant and cut into its revenue. The Atlanta company said Thursday that the rough start to the year means that full-year earnings will come in at the low end of its earlier forecasts. Separately, UPS said that a new contract with the Teamsters union covering 253,000 employees will...

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