Fedex | featured news

A FedEx employee suspected the delivery company of "systematically overcharging" its customers and taking "no action" to address the problem, according to unsealed documents in a case against the company.

FedEx Corp. says the global economy is stalling, and it's going to get worse next year. A decline in global trade is shrinking earnings at the world's second-largest package delivery company. On Tuesday, FedEx said a continued slowdown in the developed world combined with high fuel prices will keep trade volumes at low levels.

FedEx Corp. said Tuesday that a combination of higher costs and slow global growth will crimp its earnings results over the next 12 months.

A former employee ran into a FedEx facility in Bedford Park this morning and opened fire while yelling his wife's name, sending workers scrambling for cover before he turned the gun on himself, police said. Benjamin Robinson, 28, entered the building at 5151 W. 73rd St. shortly before 8 a.m. and jumped into a truck and started firing, police said. About an hour later, with SWAT teams stationed outside, Robinson shot and killed himself, police and witnesses said.

FedEx scared markets in its first quarter earnings report, noting the global economy would slow and demand, particularly from Asia, would cool, putting downward pressure on the stock.

By contrast, The Wall Street Journal and the New York Times are working with test iPads, according to people familiar with the matter. Six advertisers, including Coca-Cola and FedEx, have agreed to advertise with the Journal, and a four-month ad package costs $400,000, according to these people. Coke and FedEx declined to comment on terms. The Journal plans to charge subscribers $17.99 a month for iPad subscriptions, according to a person familiar with the matter.

A cautious forecast from FedEx Corp. is giving investors another reason to worry about the economy. Stocks fluctuated in a tight range Wednesday after FedEx issued a weaker-than-expected profit forecast and downbeat comments about what it sees ahead for the economy.

A FedEx airplane ran off a runway at Tokyo's Narita airport in Japan and burst into flames Monday, an airport official confirmed.