FedEx boss issues global recession warning
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Warnings of an imminent global recession, revenues at FedEx Express (FX, Memphis Int'l) that are USD500 million short of expectations, and a 15% decline in overall profits at parent FedEx Corp year-on-year blamed on “global volume softness” have sent shares in the American multinational transportation and e-commerce company plunging and sparked a broad sell-off in US stocks. Business at FedEx Corp worsened towards the end of the first quarter of its financial year, ending August 31, prompting it...

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