The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Daniel Povey, a professor who was fired by Johns Hopkins University, said he will no longer go work at Facebook after the company asked him to work as a contractor while it...Technologyread more
Markets would like Fed Chairman Jerome Powell to clarify whether the Fed sees itself at the beginning of a serious, longer-term rate cutting cycle.Market Insiderread more
A top executive at FedEx is flagging serious concerns in the global economy.
The multinational package delivery service reported declining international revenue as a result of unfavorable exchange rates and the negative effects of trade battles.
"Slowing international macroeconomic conditions and weaker global trade growth trends continue, as seen in the year-over-year decline in our FedEx Express international revenue," Alan B. Graf, Jr., FedEx Corp. executive vice president and chief financial officer, said in statement.
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.
Despite a strong U.S. economy, FedEx said its international business weakened during the second quarter, especially in Europe. FedEx Express international was down due primarily to higher growth in lower-yielding services and lower weights per shipment, Graf said.
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.
FedEx shares have dropped roughly 27 percent in the past year, lagging the XLI industrial ETF's 1 percent decline.
The U.S. and China remain locked in an ongoing stalemate on trade tariffs. On Tuesday, there were multiple reports about progress on negotiations between the world's two largest economies. According to Bloomberg, some U.S. officials fear that China is reneging on certain trade concessions.