United Parcel Service is raising rates at its freight unit and that’s pushing UPS stock price higher this morning. The 4.4% price hike will come into effect March 31st and applies to non-contractual less-than-truckload shipments, which means smaller loads. The rate rise is more than rival FedEx Corp’s increase earlier this month. On March 3, FedEx said it will raise shipping rates at its freight business by 3.9%, also effective March 31.
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