FedEx reduces its projection & cautions of a worsening economy; shares fall 16%
A global demand slump began at the end of August and was expected to get worse in the November quarter, according to FedEx Corp., which revoked the financial projection it had released just three months earlier on Thursday.Shares of the international delivery company fell more than 16% after it revealed first-quarter sales and profit that […]
Following CPI figures, Wall St. suffers its largest loss in two years
A broad sell-off left U.S. equities reeling on Tuesday as a difficult inflation report shattered hopes that the Federal Reserve could pause and pull back its policy strengthening in the coming months.A four-day winning streak was broken and all three of the major U.S. market indices made their largest one-day percentage declines since June 2020, […]
China bags energy windfall as Russian supplies fail to attract the West
This year, China has been purchasing fuel supplies from Russia at a steadily decreasing cost, benefiting from a decline in European demand at a time when Beijing most needs it as the Ukraine conflict forces Moscow to look for new markets.Both nations benefit from the expanding partnership, which will further develop when Russian President Vladimir […]