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FedEx Corp. is borrowing $1.5 billion to fund a contribution to its pension plan that it announced after the passage of U.S. tax law changes.

FedEx Corp. ramped up staff pay boosts and corporate investments arising from the December passage of the U.S. Tax Cuts and Jobs Act, saying it would spend more than $3.2 billion to increase employee compensation, bulk up the company’s pension plan and invest in several of its hubs.

FedEx Lands at No. 9 on Fortune’s List of World’s Most Admired Companies

A deep freeze following snow Jan. 16 continued to disrupt FedEx’s world hub in Memphis on Jan. 17, causing potential delays in package deliveries.

Memphis International Airport saw little impact on passenger flights from a winter storm early Jan. 16, but FedEx’s cargo operation experienced disruptions that could affect deliveries.

FedEx is expanding the business unit led by its founder’s son by consolidating specialty logistics and e-commerce solutions within FedEx Trade Networks.

FedEx has applied for a building permit for a building project valued at $35.4 million at its world hub at Memphis International Airport.

FedEx on Jan. 8 announced the official opening of a new, 1.4 million square foot Shanghai hub that bolsters access to one of the world’s fastest-growing markets.

United Parcel Service Inc. and FedEx Corp. delivered almost all of people’s presents by Christmas Day, with the former company finishing strong after a bruising late November.

FedEx Corp.’s delivery truck is heading in the right direction, but the turbo-charge from Uncle Sam won’t hurt. The $65 billion company reported earnings after the close of trading on Dec. 20, besting analysts’ quarterly estimates and raising its full-year outlook.