Latest news with #FedExCorp
Time of India
02-06-2025
- Business
- Time of India
Mphasis, Persistent, and other IT stocks fall up to 6% amid renewed US-China trade tensions
Shares of Indian IT companies fell sharply on Monday, with some stocks losing up to 6.5%, as renewed trade tensions between the US and China spooked investors. The Nifty IT index slipped over 1% to 36,948 in morning trade, extending losses for the second straight session. The selloff follows a social media post by US President Donald Trump last week, accusing China of violating a recent trade agreement. Trump claimed that China had "totally violated" the deal, which he said was made to prevent further economic instability in China caused by earlier tariffs. 'China has totally violated its agreement with us. So much for being Mr. NICE GUY!' Trump posted on his platform, Truth Social. Indian IT companies earn a significant portion of their revenue from the US market. Past tariff battles between the US and China have triggered fears of a US recession and rising inflation, which tend to weigh heavily on IT exports. Live Events While trade tensions had eased briefly, the latest escalation has reignited concerns, dragging IT stocks lower. Meanwhile, Mphasis led the fall, tumbling 6.5% to Rs 2,392, after reports that FedEx Corp. had chosen Accenture Plc to handle much of its IT work, ending a long-standing relationship with Mphasis. The client accounted for 8% of the company's revenue. Persistent Systems dropped nearly 3% to Rs 5,471. Shares of Tech Mahindra and Wipro slipped over 1%, while HCL Tech , TCS , Infosys , LTI Mindtree, and Coforge traded with marginal losses. Also Read: India's top 10 priciest stocks in 2025: MRF to Elcid, see who tops the list In response, China accused the US of violating the trade deal and warned of strong retaliatory measures. In a statement on June 2, the Chinese Ministry of Commerce said, 'If the US insists on its own way and continues to damage China's interests, China will continue to take resolute and forceful measures to safeguard its legitimate rights and interests.' ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Business Wire
20-05-2025
- Business
- Business Wire
FedEx Global Healthcare Secures IATA CEIV Pharma Corporate Certificate
MIAMI--(BUSINESS WIRE)--FedEx Corp. (NYSE: FDX) today announced that at the 34 th CNS Partnership Conference, the International Air Transport Association (IATA) recognized the FedEx Global Healthcare Quality Program with the CEIV Pharma Corporate Certification — a significant milestone in the company's commitment to quality, compliance, and leadership in pharmaceutical logistics. This corporate-level certificate for the company's hubs and ramps validates the strength of FedEx's quality management system and its ability to deliver end-to-end logistic services in compliance with the increasingly complex and highly regulated pharmaceutical industry. 'This certification illustrates FedEx's unwavering dedication to excellence in pharmaceutical logistics,' said Nick Gennari, president of global healthcare and commercial sales. 'This pioneering, network-wide approach to quality showcases our commitment to complying with the highest standards in the industry for the transportation and handling of global pharmaceutical products. With over 90 percent of our global healthcare volume moving through facilities that are now CEIV Pharma-certified, we are providing our customers with outstanding quality solutions in the global pharma air space.' The Center of Excellence for Independent Validators (CEIV) Pharma Certification sets the highest standards for the safe, compliant, and time sensitive temperature-controlled transport of pharmaceutical shipments across global air cargo network. 'The pharmaceutical industry relies on air transport for its speed and efficiency in ensuring high-value, time-sensitive, temperature-controlled products such as vaccines or medication. As global supply chains become more complex, the need for consistent, trusted standards is greater than ever for the safety of the end consumers. We are pleased to see FedEx Global Healthcare certify additional facilities with CEIV Pharma, the industry's trusted mark of quality and excellence in the handling of pharmaceuticals,' said Frederic Leger, IATA's senior vice president commercial products and services. FedEx previously had its Memphis (MEM) and Indianapolis (IND) hubs CEIV Pharma-certified in 2024, along with ramps in San Juan (SJU) and Aguadilla (BQN), Puerto Rico. In addition to the corporate certificate, the FedEx Global Healthcare team also announced 15 new CEIV Pharma certified facilities, all of which will be officially certified in May 2025: Cologne, Germany (CGN) Fort Worth, Texas (AFW) Frankfurt, Germany (FRA) Greensboro, North Carolina (GSO) Guangzhou, China (CAN) Liege, Belgium (LGG) Los Angeles, California (LAX) Miami, Florida (MIA) Milan, Italy (MXP) Newark, New Jersey (EWR) Oakland, California (OAK) Osaka, Japan (KIX) Paris, France (CDG) San Jose, Costa Rica (SJO) Santo Domingo, Dominican Republic (SDQ) About FedEx Corp. FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $88 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit
Yahoo
19-05-2025
- Business
- Yahoo
FedEx Announces Leadership for Independent FedEx Freight Company Upon Separation
John A. Smith named President and CEO; R. Brad Martin to serve as Chairman of the Board. MEMPHIS, Tenn., May 19, 2025--(BUSINESS WIRE)--FedEx Corp. (NYSE: FDX) announced today several leadership roles as the company makes progress to separate its less-than-truckload (LTL) freight division. John A. Smith, chief operating officer, U.S. and Canada, of Federal Express, has been selected to serve as the president and CEO of FedEx Freight, and R. Brad Martin, vice chairman of the FedEx Corp. board of directors, has agreed to serve as chairman of the board of FedEx Freight. Both appointments will be effective upon completion of the previously announced separation of FedEx Freight from FedEx Corp. Plans for the spin-off, which is expected to occur by June 2026, remain on track. "I cannot think of two individuals with more knowledge of, or commitment to, the long-term success of the FedEx Freight business than John Smith and Brad Martin," said Raj Subramaniam, president and CEO of FedEx Corp. "Together they have the track record and expertise to successfully lead this new and exciting chapter for the independent FedEx Freight company." Prior to the separation, Smith will continue in his current role, which includes leadership of the FedEx Freight business in addition to U.S. and Canada ground operations of Federal Express. He has been a member of the FedEx Freight team (and its predecessor companies) for 25 years of his more than 30 years in the industry. From 2018 until 2021, as president and CEO of the FedEx Freight business, Smith successfully grew the company's revenue and operating income while safely navigating the team through the challenging dynamics associated with the pandemic. Martin chairs the FedEx Corp. Audit and Finance Committee and led the board's strategic analysis of the FedEx Freight business that resulted in the separation decision. It is expected that he will remain on the FedEx Corp. board of directors while also serving as chairman of the board of the new FedEx Freight entity. The company previously appointed Tom Connolly as vice president of LTL Sales. With more than 30 years of industry experience, Connolly is leading the expansion of FedEx Freight's dedicated LTL salesforce. Additional biographical information: John A. Smith: R. Brad Martin: About FedEx Corp. FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $88 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit Cautionary Statement Regarding Forward-Looking Information Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act, such as statements regarding the expected timing of the separation or its completion at all, and statements regarding the future FedEx Corp. and FedEx Freight board of directors and management. Forward-looking statements include those preceded by, followed by or that include the words "will," "may," "could," "would," "should," "believes," "expects," "forecasts," "anticipates," "plans," "estimates," "targets," "projects," "intends" or similar expressions. Such forward-looking statements are based on management's current expectations and are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to: our ability to successfully execute the separation transaction; our ability to obtain any consents or approvals required to complete the separation; potential uncertainty during the pendency of the separation transaction that could affect FedEx Corp.'s financial performance; the possibility that the separation transaction will not be completed within the anticipated time period or at all; the possibility that the separation transaction will not result in the intended benefits; the possibility of disruption, including changes to existing business relationships, disputes, litigation, or unanticipated costs in connection with the separation transaction; uncertainty of the expected financial performance of FedEx Corp. or FedEx Freight following completion of the transaction; negative effects of the announcement or pendency of the transactions on the market price of FedEx Corp.'s securities and/or on the financial performance of FedEx; evolving legal, regulatory, and tax regimes; changes in the economic conditions in the global markets in which we operate; actions by third parties, including government agencies; our ability to successfully implement our business strategy and global transformation program and optimize our network through Network 2.0; our ability to achieve our cost-reduction initiatives and financial performance goals; and other factors which can be found in FedEx Corp.'s and its subsidiaries' press releases and FedEx Corp.'s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended May 31, 2024, and subsequently filed Quarterly Reports on Form 10-Q. Any forward-looking statement speaks only as of the date on which it is made. Neither FedEx Corp. nor anyone else undertakes or assumes any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. View source version on Contacts Media contact:FedEx Media Relations901-434-8100mediarelations@ Investor contact:FedEx Investor Relations901-818-7200ir@
Business Wire
19-05-2025
- Business
- Business Wire
FedEx Announces Leadership for Independent FedEx Freight Company Upon Separation
MEMPHIS, Tenn.--(BUSINESS WIRE)--FedEx Corp. (NYSE: FDX) announced today several leadership roles as the company makes progress to separate its less-than-truckload (LTL) freight division. John A. Smith, chief operating officer, U.S. and Canada, of Federal Express, has been selected to serve as the president and CEO of FedEx Freight, and R. Brad Martin, vice chairman of the FedEx Corp. board of directors, has agreed to serve as chairman of the board of FedEx Freight. Both appointments will be effective upon completion of the previously announced separation of FedEx Freight from FedEx Corp. Plans for the spin-off, which is expected to occur by June 2026, remain on track. 'I cannot think of two individuals with more knowledge of, or commitment to, the long-term success of the FedEx Freight business than John Smith and Brad Martin,' said Raj Subramaniam, president and CEO of FedEx Corp. 'Together they have the track record and expertise to successfully lead this new and exciting chapter for the independent FedEx Freight company.' Prior to the separation, Smith will continue in his current role, which includes leadership of the FedEx Freight business in addition to U.S. and Canada ground operations of Federal Express. He has been a member of the FedEx Freight team (and its predecessor companies) for 25 years of his more than 30 years in the industry. From 2018 until 2021, as president and CEO of the FedEx Freight business, Smith successfully grew the company's revenue and operating income while safely navigating the team through the challenging dynamics associated with the pandemic. Martin chairs the FedEx Corp. Audit and Finance Committee and led the board's strategic analysis of the FedEx Freight business that resulted in the separation decision. It is expected that he will remain on the FedEx Corp. board of directors while also serving as chairman of the board of the new FedEx Freight entity. The company previously appointed Tom Connolly as vice president of LTL Sales. With more than 30 years of industry experience, Connolly is leading the expansion of FedEx Freight's dedicated LTL salesforce. Additional biographical information: John A. Smith: R. Brad Martin: About FedEx Corp. FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $88 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit Cautionary Statement Regarding Forward-Looking Information Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act, such as statements regarding the expected timing of the separation or its completion at all, and statements regarding the future FedEx Corp. and FedEx Freight board of directors and management. Forward-looking statements include those preceded by, followed by or that include the words 'will,' 'may,' 'could,' 'would,' 'should,' 'believes,' 'expects,' 'forecasts,' 'anticipates,' 'plans,' 'estimates,' 'targets,' 'projects,' 'intends' or similar expressions. Such forward-looking statements are based on management's current expectations and are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to: our ability to successfully execute the separation transaction; our ability to obtain any consents or approvals required to complete the separation; potential uncertainty during the pendency of the separation transaction that could affect FedEx Corp.'s financial performance; the possibility that the separation transaction will not be completed within the anticipated time period or at all; the possibility that the separation transaction will not result in the intended benefits; the possibility of disruption, including changes to existing business relationships, disputes, litigation, or unanticipated costs in connection with the separation transaction; uncertainty of the expected financial performance of FedEx Corp. or FedEx Freight following completion of the transaction; negative effects of the announcement or pendency of the transactions on the market price of FedEx Corp.'s securities and/or on the financial performance of FedEx; evolving legal, regulatory, and tax regimes; changes in the economic conditions in the global markets in which we operate; actions by third parties, including government agencies; our ability to successfully implement our business strategy and global transformation program and optimize our network through Network 2.0; our ability to achieve our cost-reduction initiatives and financial performance goals; and other factors which can be found in FedEx Corp.'s and its subsidiaries' press releases and FedEx Corp.'s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended May 31, 2024, and subsequently filed Quarterly Reports on Form 10-Q. Any forward-looking statement speaks only as of the date on which it is made. Neither FedEx Corp. nor anyone else undertakes or assumes any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Bloomberg
12-05-2025
- Business
- Bloomberg
Amazon, FedEx Reach Agreement for Large Package Delivery
Inc. has a multiyear agreement with FedEx Corp. to deliver large packages for the online retailer, renewing a relationship between the two companies that ended in 2019. The deal follows plans announced in January by United Parcel Service Inc. to reduce by half the number of packages it delivers for Amazon by the end of 2026.
