BC-Business News Digest

Business News at 5:30 p.m.

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NEW THIS DIGEST:

Adds: UNITED AIRLINES-787S

Updates: WALL STREET, BOISE CASCADE-IPO, EARNS-NEWS CORP, EARNS-VISA

TOP STORIES:

POSTAL CUTS

WASHINGTON ⿿ The U.S. Postal Service will stop delivering mail on Saturdays but continue to deliver packages six days a week under a plan aimed at saving about $2 billion annually for the financially struggling agency. The move accentuates one of the agency's strong points ⿿ package delivery has increased by 14 percent since 2010, officials say, while the delivery of letters and other mail has declined with the increasing use of email and other Internet services. By Pauline Jelinek.

AP photos, video.

With:

⿿ POSTAL CUTS-GLANCE ⿿ Details of Postal Service's planned cuts in Saturday mail service

Also:

NETFLIX-POSTAL CUTS:

SAN FRANCISCO ⿿ Netflix won't miss Saturday mail delivery, even though the weekend service helped keep the company's DVD-by-mail subscribers happy. The U.S. Postal Service's upcoming shift from six to five days of home delivery may even make Netflix Inc. slightly more profitable by lowering the costs for sending out its familiar red envelopes and reducing the number of DVDs that subscribers can watch for a monthly fee that remains the same, no matter how many discs get checked out. By Technology Writer Michael Liedtke.

AP photo.

BOISE CASCADE-IPO

NEW YORK ⿿ Riding a U.S. housing recovery and a booming stock market, Boise Cascade, a maker of plywood and other building materials, jumps 24 percent in its market debut. It's the latest big first-day gain for an IPO, boding well for other companies that want to raise money by going public. By Business Writer Alex Veiga.

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