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...Raj Subramaniam, chief operating officer of FedEx, told analysts that its ground delivery operation had seen “an outstanding Cyber Week”, delivering 100m packages....
...Peter Harris, international sustainability director at UPS, said most carriers had made their networks more efficient with route-planning systems and alternative delivery points such as convenience stores...
...The company, which is often seen as an indicator of the health of the US economy, reported volume growth of 2 per cent for express packages and 5 per cent for ground deliveries, driven by online shopping...
...However, FedEx has so far avoided the kind of significant problems that dogged UPS last Christmas, when its systems became overwhelmed and it delivered many packages after December 25....
...FedEx already operates all 33 of its ground network’s hubs in the US on Worldport’s highly automated model, with minimal handling by humans....
...FedEx shares rallied 4.4 per cent to $103.15 after chief executive Fred Smith said sluggish global growth in the company’s fourth quarter overshadowed improving margins and ground volume....
...FedEx is considered a bellwether for the global economy because of its role in shipping goods for companies, and other freight and delivery companies also lost ground....
...Shares in FedEx climbed 8 per cent to $83.47 after the package delivery service reported earnings for the three months ended November 30 that were 76 per cent higher than last year....
...But some packages earned a reputation for being difficult to implement and use and for being expensive....
...“It would appear that FedEx is preparing to spend millions of dollars trying to convince Congress that a FedEx driver delivering a package is different somehow [from] a UPS driver delivering a package,”...
...Even Citigroup , initially made ground on reports that it planned to sell nearly $12bn in leveraged loans, closed down 0.8 per cent at $23.58....
...“It’s not going to be a strict budget,” says Neil Harris, Cisco’s European green IT manager. “We can’t ground someone if they go over [their limit]....
...FedEx, UPS’s arch-rival, cited the same concerns for the US economy last week....
...delivery system....
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