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Retail giant Amazon.com (AMZN) has reportedly inked a deal with the U.S. Postal Service under which the latter will ship more than one billion of its packages per year.
Reuters reported, citing sources, that Amazon retained around 80% of its existing deliveries with USPS under the deal, overturning its plan to replace the Postal Service with its own nationwide delivery service.
While shares of AMZN edged up 1% at the time of writing, shares of United Parcel Service Inc. (UPS) and FedEx (FDX) moved lower.
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