Jess Bunn News
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For TNT Express NV shareholders pining for a rescue from FedEx Corp. after a scrapped takeover sent the stock reeling to record-low valuations, it could be a long wait.
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United Parcel Service Inc. will pursue smaller European acquisitions and growth in its own business after its 5.16 billion-euro ($6.9 billion) purchase of TNT Express NV fell apart, people familiar with the matter said.
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FedEx Corp., operator of the world’s largest cargo airline, climbed after pledging “significant cost reductions” as slowing economic growth pressures profits.
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As much as higher education and corporate America would like to be engaged, college presidents are struggling to reconcile the demands and values of academia with shareholder skepticism about their boardroom commitments.
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FedEx Corp. agreed to sell the Japanese operations of its Office unit, the retail business formerly known as Kinko’s, to Konica Minolta Holdings Inc.
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A surge in the introduction of new technology products, including Apple Inc.’s iPhone 5, is poised to drive up rates for shipping by plane, benefiting companies from FedEx Corp. to Atlas Air Worldwide Holdings Inc.
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FedEx Corp.’s falling volumes for its fastest, most-profitable services signal that shippers are increasingly deciding their packages no longer have to be there overnight -- and not just in a slowing economy.
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Debt traders are indicating FedEx Corp., after an eight-year drought, is headed for a second 2012 credit upgrade as rising online commerce keeps ground deliveries growing even as the U.S. economy shows signs of faltering.
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FedEx Corp.’s plan to boost air cargo profit margins to 10 percent or more, partly by replacing junkyard-ready jets with more efficient models, will be challenged by a yearlong wait for the first of the new planes.
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FedEx Corp. will have to fend off competition from United Parcel Service Inc. to keep a contract valued at more than $1 billion with its largest customer, the money-losing U.S. Postal Service.
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