UPS profit hit by retirement liabilities
July 29 (Reuters) - United Parcel Service Inc's quarterly profit more than halved as the world's biggest courier company took a charge related to retirement liabilities of some union employees.
The company's net income fell to $454 million, or 49 cents per share, from $1.07 billion, or $1.13 per share, a year earlier.
Net income in the latest quarter included a charge of $665 million from post-retirement liabilities.
Total revenue rose 6 percent to $14.27 billion. (Reporting by Sweta Singh in Bangalore; Editing by Saumyadeb Chakrabarty)