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NEWS ABOUT: FedEx

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DHL Will Cut 9,500 Jobs, Stop Domestic US Service

German firm shutters DHL Express service centers as its competition gets the better

(AP) - Deutsche Post will close all of its DHL Express service centers, cut 9,500 jobs in the US, and eliminate US-only domestic shipping by land and air, the company said today, citing heavy losses and fierce competition with UPS and FedEx. The company said the new round of cuts are... More »

UPS Denies Big Plans for Europe Expansion

Delivery giant eyeing China, not Dutch company, exec says

(Newser) - For the second time this summer, rumors that Dutch package-delivery company TNT NV was in talks with a potential US buyer—this time UPS for $15 billion—pumped up the company’s share price, reports Bloomberg. But the rally faltered as a UPS exec shot down the reports, asking Reuters,... More »

Oil, Earnings Woes Key Retreat

Familiar factors push markets down

(Newser) - The markets retreated today, battered by the familiar convergence of high oil prices and poor business performance, MarketWatch reports. Amid signs of broader malaise, financials dropped, and crude again topped $135 per barrel. The Dow fell 131.24 to close at 12,029.06. The Nasdaq lost 28.02 to... More »

FedEx Reports $241M Loss on Fuel Costs, Soft Economy

Spike in costs offset 8% rise in revenue as company revises guidance down for year

(Newser) - Surging fuel costs, softening demand, and retail operation charges—including the cost of renaming its FedEx Kinko’s stores FedEx Office—sent FedEx Corp. to a fourth-quarter loss of $241 million, or 78 cents a share, compared to profits of $610 million or $1.96 a year ago, reports the... More »

FedEx Chief: Exports Will Stave Off Recession

CEO says increased globalization in high-tech a boon to struggling economy

(Newser) - Strength in high-tech US manufacturing and the globalization of the market has helped the US avoid a recession, with its exports being driven by a weak dollar, FedEx CEO Fred Smith told the Financial Times today. And, he said, as emerging economies continue to grow, so will US exports, even... More »

Good Job, Bad Job

A look at extreme differences in the work experience, from FedEx to Patagonia

(Newser) - There's a stark divide between good and bad employers in America today, and you don't want to be on the wrong side of it. In a New York Times excerpt from his new book, Steven Greenhouse compares FedEx and Patagonia. FedEx forces workers who deliver packages to be "independent... More »

Saint John Still Tainted by Senate Murk

Ethics crusader is still no stranger to lobbying culture

(Newser) - With John McCain the presumptive Republican nominee, Democrats are rushing to expose chinks in the Arizona senator's saintly armor, Michael Scherer reports in Time. Though McCain talks tough about special interests, he has often appeared to have done their bidding. He once, for example, wrote a letter on behalf of... More »

Dow Up After Roller-Coaster Day

Bad news doesn't halt rally; markets end week up

(Newser) - The major indexes closed up today after erratic trading as bad news on industrial production and new negative forecasts failed to halt an end-of-week rally. The Dow gained 66.74 to 13,176.79, the Nasdaq climbed 18.73 to 2,637.24, and the S&P 500 closed at... More »

Hybrid Trucks Get Stuck in Neutral

Technology remains too expensive, leading to low demand, higher prices

(Newser) - Hybrid truck sales are sputtering because the technology is too expensive, and companies ordering vehicle fleets won’t pay extra for environmental benefits alone. But without bulk orders, economies of scale aren’t kicking in. One truck company president says government tax breaks or subsidies are needed to boost hybrid... More »

Stocks Dip After Two-Day Spike

Goldman’s success can’t stop dollar jitters

(Newser) - Stocks fell today after two days of bullish investing set off by the Fed’s interest rate cuts; one trader told the Journal profit-taking would have taken its toll "even if there was no news whatsoever.” But there was news: FedEx cut its profit forecast; the dollar continued... More »

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