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The U.S. Postal Service continues to struggle with mounting losses. Its turnaround plan includes higher prices for stamps. Here's the Friday Bloomberg After The Bell Report from the New York Stock Exchange.
The U.S. Postal Service says it lost $1.9 billion in its second quarter as mail volume declined. It's on pace to almost run out of operating cash by October. Some of the changes in an internal restructuring plan call for ending Saturday mail delivery, raising stamp prices to 50 cents and cutting 155,000 jobs by 2016.
Stocks were little changed, but it was still our third straight week of gains on Wall Street.
Say goodbye to McDonald's Angus burger. The $4 sandwich is being dropped from its lineup as hard hit customers are instead favoring the chain's dollar menu. The chain has been advertising its dollar menu to reverse a slump in sales.
A study released by the Pew Research Center says the percentage of new mothers with a college education is rising to record levels. Meanwhile, births among less educated American women continue to drop. Two of every three new mothers had at least some college education in 2011. The rate has almost quadrupled since 1960.