Global shipping service company Fedex has cut its full-year profit forecast, warning that the global economy is continuing to weaken.
The company, whose earnings are widely watched because of the number of countries it does business in said its net income for the first quarter had fallen 1% on last year to $459m.
Fedex said it expected annual profits to be about 10% lower than expected.
Customers are moving business from air to slower and less expensive routes.
Fedex is the world's second largest package delivery company.
18 Sep, 2012
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Source: http://www.bbc.co.uk/news/business-19640127#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
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