UPS names company veteran new CEO

6/7/2014

ATLANTA — Package-delivery giant UPS has named a longtime company veteran as its next CEO.

The company said Friday that Chief Operating Officer David Abney will take the top job Sept. 1. Current Chairman and CEO Scott Davis will become nonexecutive chairman at that time.

Mr. Abney, 58, has worked for UPS for 40 years, starting as a package loader.

S&P affirms its ratings on U.S. debt outlook

WASHINGTON — Standard & Poor’s Ratings Services has affirmed its “stable” outlook for U.S. government debt and its ratings for short and long-term U.S. debt, citing the American economy’s strength and the government’s flexible economic policies.

The rating agency said Friday it is keeping its rating for short-term U.S. debt at “A-1+” and for long-term debt at “AA+.”