Hints and tips:
Related Special Reports
...FedEx’s cost-cutting plan aims to fix this by combining its two Express and Ground delivery networks. But the UPS contract will make it harder for FedEx to retain staff while keeping a lid on wages....
...the ground....
...FedEx is expected to pull in just $3.8bn for the fiscal year that ends in May. In practice, combining Express and Ground requires FedEx to merge two very distinct labour models....
...He added that countries could disagree but should “seek common ground while reserving differences”....
...FedEx Express, FedEx Ground, FedEx Services and other operating companies are expected to merge into FedEx Express Corporation by June 2024, the group said on Wednesday....
...“FedEx Ground is making further adjustments to better align our Sunday residential delivery operations with current customer demand,” the company said in a statement to the Financial Times....
...Earnings: Investors will look for economic commentary from parcel delivery group FedEx and breakfast cereal producer General Mills....
...In the US, FedEx has been embroiled in a labour dispute with many of the 6,000 contractors that make last-mile deliveries for its Ground unit....
...Shares of US-listed rival parcel and logistics companies recovered some lost ground, but still closed lower. UPS dropped 4.5 per cent, Amazon shed 2.1 per cent and XPO Logistics fell 4.7 per cent....
...Operating results at FedEx’s Ground unit, which handles much of its ecommerce home deliveries, declined due to higher self-insurance accruals and the higher rates it paid for transportation and wages....
...Germany, May producer price index (PPI) inflation rate figures UK, Kantar grocery market share figures US, May housing starts and building permits Results: FedEx Q4 Wednesday Case management hearing...
...state dinner hosted by the White House, Indian prime minister Narendra Modi chatted about the game with a group of cricket-loving US-based executives who included the chief executives of Alphabet, Adobe, FedEx...
...Already, he must grapple with how to re-energise a company that is not only losing ground to old rivals including UPS — to which it trades at around a 33 per cent valuation discount — but also to the new...
...The Tennessee city from which they flew was a convenient hub to reach the entire US, with favourable weather that would rarely ground small aircraft....
...Earlier this month, FedEx warned that profit margins at its Ground division would be lower than expected in the second half of the year....
...environment resulted in network inefficiencies, higher purchased transportation costs and higher wages, which increased the company’s overall costs by $470m from a year ago and were felt in particular by its ground...
...But the company noted that while commercial ground and express package volume rose in the first quarter compared with a year ago, supply chain disruptions slowed US domestic parcel demand....
...Raj Subramaniam, chief operating officer of FedEx, told analysts that its ground delivery operation had seen “an outstanding Cyber Week”, delivering 100m packages....
...The letter, seen by the Financial Times and first reported by Reuters, was signed by the largest US carriers as well as the air freight arms of two of the biggest logistics groups, UPS and FedEx....
...In her book This Is How They Tell Me The World Ends, Nicole Perlroth described how Ukraine became ground zero in this new era of cyber warfare as Russian hackers consistently tried to undermine the country...
...Its ground shipping business posted record earnings for the quarter, driven by strong growth in business-to-business shipments....
International Edition