Markets

FedEx burns $3.5 billion in market value after a brutal earnings report

FedEx wiped out as much as $US3.5 billion from its market valuation in early Wednesday trading, falling 7.5% after missing earnings expectations. The company missed estimates for fiscal second-quarter profit and revenue. FedEx also shifted its full-year earnings estimate lower, citing a greater shift to expensive home deliveries and falling […]
FedEx burns $3.5 billion in market value after a brutal earnings report
Markets

FedEx CEO challenges New York Times publisher to public debate on taxes

FedExCEO Frederick W. Smith pushed back against a New York Times story published on Sunday about the company’s tax bill, calling it “distorted and factually incorrect.” The story reported that the logistics company reduced its effective tax rate in 2018 to below zero per cent in the wake of the […]
FedEx CEO challenges New York Times publisher to public debate on taxes