A top executive at FedEx is flagging serious concerns in the global economy.
div > div.group > p:first-child"> The multinational package delivery service reported declining international revenue as a result of unfavorable exchange rates and the negative effects of trade battles.
FedEx reported weaker-than-expected third-quarter earnings and revenue after the closing bell on Tuesday, and cut its full-year guidance. Shares fell more than 4 percent in after-hours trading. To compensate for lower revenue, Graf said FedEx began a voluntary employee buyout program and constrained hiring. It is also"limiting discretionary spending" and is reviewing additional actions.
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