Fred Business News- UPS, the world's largest shipping carrier, said Friday a bookkeeping error caused it to inflate its reported earnings for the fiscal 2007 fourth-quarter and full-year by $65 million.

The error means the company missed Wall Street expectations instead of meeting them, as reported previously.

The Atlanta-based company said it was revising its results, which it first reported on Jan. 30, to fix the discrepancy.

The error involved a state income tax benefit of $65 million that was recorded twice in the fourth quarter instead ...   more »