LOS ANGELES—FedEx Corp. said on Wednesday it will consolidate its separate delivery companies into a single entity, as the group slims its bloated infrastructure to compete better with United Parcel Service and Amazon. The move to integrate FedEx Ground, its outsourced package delivery arm, with the FedEx Express overnight air delivery business was announced almost…
FedEx Raises Full-Year Earnings Forecast After Cost Cuts
FedEx Corp on Thursday raised its fiscal 2023 profit forecast despite weak market conditions, citing progress on its plan to shave $3.7 billion in costs from its global delivery business. The Memphis, Tennessee-based company also posted a higher-than-expected quarterly profit despite a drop in volume. Fedex has been wringing costs from its bloated operations by…
FedEx, Rivian, DraftKings Join US Companies Cutting Jobs
FedEx, Rivian Automotive, and DraftKings have joined a growing list of U.S. corporations announcing job cuts. FedEx sent an announcement to employees Wednesday informing them that the package delivery company is reducing the size of its officer and director team by more than 10 percent and consolidating some teams and functions. “Unfortunately, this was a…
Dallas-Based Ameriflight Signs $134 Million Deal to Buy 20 Autonomous Planes
February 2, 2023
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Cargo carrier Ameriflight has announced its $134 million deal to buy 20 autonomous regional freight aircraft from San Diego-based Natilus. The conditional purchase agreement marks Natilus’ first sale of its Kona 3.8T blended-wing-body (BWB) remotely-piloted aircraft to a U.S.-based company, according to a news release. “Through this strategic partnership, we are positioning Ameriflight to build…
Amazon, FedEx, UPS Issue Delivery Alerts Ahead of Christmas
FedEx, Amazon, the U.S. Postal Service, and UPS are warning of delivery delays ahead of Christmas as a major winter storm crosses the United States. “FedEx Express experienced substantial disruptions at our Memphis and Indianapolis hubs last night due to severe winter weather that has been moving across the United States,” FedEx said in a…
Body of 7-Year-Old Texas Girl Found, FedEx Driver Arrested
PARADISE, Texas—A 7-year-old Texas girl has been found dead, two days after being reported missing, and a FedEx delivery driver arrested in her death, authorities said. The body of Athena Strand was found Friday and Tanner Lynn Horner, 31, was arrested on kidnapping and murder charges after confessing to killing the girl and telling authorities…
Judge Dismisses FedEx From Indianapolis Shooting Lawsuit
INDIANAPOLIS—A federal judge has dismissed FedEx from a lawsuit filed by relatives of five of the eight people who were fatally shot last year at an Indianapolis warehouse by a former employee of the shipping giant. U.S. District Judge James Sweeney on Monday granted a FedEx Corp. motion to dismiss it and three of its…
Keeping Up With Inflation: FedEx Announces Biggest Ever General Rate Increase
FedEx has announced plans to increase its general tariff rates by its biggest margin as the company grapples with inflation and slowing business. “Effective January 2, 2023, FedEx Express, FedEx Ground, and FedEx Home Delivery rates will increase by an average of 6.9 percent,” the company said in a news release on Sept. 22. The general rate…
FedEx, Transports, Flash Bright Yellow to the Markets
Commentary FedEx, the global delivery and logistics company, withdrew its forward guidance after the market closed on Sept 15. The share price collapsed by more than 16 percent in after-hours trading. On Sept. 16, FedEx (FDX) shares opened sharply lower and closed down 21.4 percent by the time the market closed. To give you a…
FedEx CEO Anticipates ‘Worldwide Recession’; Germany Seizes Russian Oil Refinery | NTD Business
FedEx stock suffers its worst day ever after cutting its sales forecast, and the CEO warns of a slowing global economy. Germany takes control of a Russian energy firm’s subsidiaries amid the energy crisis. We ask an analyst why this is a big deal. A U.S. Space Force general says China wants the ability to destroy…
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