Couriers/Messengers

FedEx Corp. FDX -2.64% said a slowdown in the global economy has hurt its business. Investors, analysts and customers of the company said they are seeking clarity on how deep the problems are and what its response will be.  The carrier is due to report its first-quarter earnings after U.S. stock markets close Thursday, a week after cutting its full-year financial outlook and revealing that package-delivery volumes in Europe, Asia and the U.S. were weaker than it…

The delivery giant’s shares lost more than 20% Friday—on track for its biggest one-day drop ever—after the company said a macroeconomic slowdown had led to lower volumes of goods moving around the world in recent weeks. All three major U.S. stock indexes were lower early Friday, falling more than 1% apiece.  The chief executives at General Electric Co. and Verizon Communications Inc. also pointed this week to signs of economic troubles.…

FedEx’s CEO says the company is aggressively accelerating its cost-reduction efforts. Photo: Ted S. Warren/Associated Press…

FedEx Corp. FDX -4.33% sued one of its largest delivery contractors in the U.S., saying the businessman has orchestrated a campaign to promote his own consultancy by disparaging the delivery giant. Spencer Patton, a FedEx contractor based in Brentwood, Tenn., recently hosted a conference for FedEx contractors and has posted videos on YouTube calling for contractors to join a trade association he created. He has called on FedEx to…

Tensions between FedEx Corp. FDX -1.55% and independent companies that help deliver its packages are escalating as more than 2,000 of its contractors gather in Las Vegas for an annual expo.The networking event comes as many FedEx Ground contractors have been dueling with the company over everything from rising fuel costs to inaccurate shipping forecasts. Some contractors are lobbying the company for better pay, while others want to start discussions about coordinating…

United Parcel Service Inc. UPS 1.15% is nearing a deal to acquire Italy’s Bomi Group, according to people familiar with the matter, as the transportation giant looks to bolster its medical-product-distribution business. The deal, worth several hundred million dollars, could be finalized as soon as Monday assuming the talks don’t break down at the last minute, the people said. Founded in 1985, closely held Bomi distributes…

United Parcel Service Inc. said higher fuel surcharges and shipping rates helped offset a larger-than-expected decline in packages shipped in the second quarter. Average daily shipping volume fell 4% in the U.S. and 9.2% in its international markets from a year ago, as Covid-19 lockdowns in China, fallout from Russia’s invasion of Ukraine and high inflation have disrupted manufacturing output, UPS said. “Supply chains are flowing better than a year ago, but…

FedEx says packages previously sorted for Sunday delivery will be moved to Saturday and Monday. Photo: Ted S. Warren/Associated Press…

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FedEx Corp.’s revenue rose 8% in its fourth quarter as higher shipping rates and fuel surcharges offset a smaller volume of packages shipped. The delivery giant’s operating income rose 6.7% from a year earlier to $1.9 billion, led by its Freight and Express units, where operating income rose 67% and 20%, respectively. The company’s Ground division fared worse because of higher costs from insurance, wages and payments for transportation.…