As tensions might drag over the next decade, investors have to learn to operate under prolonged uncertainty, said Warburg Pincus' Charles Kaye.World Economyread more
Billionaire investor Howard Marks, the co-chairman of Oaktree Capital, predicts there won't be a recession in the U.S. for another two years.US Economyread more
Network officials also said voters should expect more of a Koch focus on grassroots activism throughout the 2020 election cycle.Politicsread more
One person was killed and five others wounded on Thursday in a shooting on the streets of Washington, D.C., not far from the White House, police said.U.S. Newsread more
Stores are extending hours and cities are spending on light shows as China tries to encourage consumers to spend more money at night.China Economyread more
New research suggests fewer girls pursue careers in STEM — science, technology, engineering and math — because they're better than boys at reading.Closing The Gapread more
Stocks in Asia Pacific edged up in Friday afternoon trade as a series of developments overnight on the U.S.-China trade front dampened hopes of a deal being reached between...Asia Marketsread more
GM's usage of temporary workers, potential closure of plants and health care contributions remain major sticking points, according to people familiar with the talks.Autosread more
In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
Trump has criticized Facebook numerous times since becoming president, most recently posting on Twitter that the company's proposed digital currency, libra, will "have little...Technologyread more
Republicans and Democrats have long since separated themselves by ideology, leaving each more uniformly conservative or liberal than ever. And now a new data analysis by the...Politicsread more
"E-commerce is not going to eliminate the retailing sector of the country," FedEx CEO Fred Smith said Tuesday. "It's about 10 percent now. It's certainly going to grow as a percentage. But will it be half? I doubt it."
E-commerce represented a little more than 8 percent of total U.S. retail sales through the first three quarters of 2016, according to data from Nielsen. The firm has projected that rate will grow by as much as 12.2 percent through 2020.
Deloitte is expecting total retail sales this holiday season to grow by as much as 4.5 percent, up from last year's 3.6 percent increase. E-commerce sales are expected to climb 18 to 21 percent this year, with more shoppers ringing up gifts online.
"I think you're going to see e-tailers become more brick-and-mortar," Smith added. "And I think you're going to see brick-and-mortar become more e-tailers. And how that all shakes out, I don't know."
In buying Whole Foods, Amazon wanted to get into the grocery business, but not with the goal of becoming a business courier, Smith said.
"Groceries are heavy, hard to handle, people like to come and see the produce and so forth," he said.
During the call, FedEx's chief marketing and communications officer, Rajesh Subramaniam, added: "More and more retailers are evolving their business model to compete with pure-play e-tailers, and we see this as an opportunity to provide even better value for our customers — whether it's fulfilling from store or a [distribution center]."
FedEx's share price was up 3 percent Wednesday. After Tuesday's closing bell, FedEx lowered its 2018 earnings outlook to account for the impact of the TNT Express cyberattack in June and said Hurricane Harvey also negatively impacted its fiscal first-quarter results.
FedEx shares have climbed more than 17 percent in 2017, and are up more than 30 percent over the past 12 months. Rival UPS' shares are up about 2 percent this year.