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FedEx says economy is worsening, cuts outlook


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.


Oil Prices Fall But Airlines Not Benefiting

Tiger Airlines

Falling oil prices are typically good news for airlines as fuel accounts for more than a third of their operating costs, but not all carriers are benefiting due to fuel hedging.


Delta buys a refinery in bid to cut its fuel bill

Delta Air Lines said on Monday that it will buy a refinery near Philadelphia in the hope of slicing $300 million a year from its jet fuel bill.


Company aims to strike it rich by mining asteroids

Mining Asteroids

A group of high-tech tycoons wants to mine nearby asteroids, hoping to turn science fiction into real profits. The plan is to use commercially built robotic ships to squeeze rocket fuel and valuable minerals like platinum and gold out of the lifeless rocks that routinely whiz by Earth. One of the company founders predicts they could have their version of a space-based gas station up and running by 2020.


Unhappy public not sure who to blame for high gas

Families canceling vacations. Fishermen watching their profits burn up along with their boats' gasoline. Drivers buying only a few gallons of gas at a time because they can't afford to fill the tank. From all corners of the country, Americans are irritated these days by record-high fuel prices that have soared above $4 a gallon in some states and could top $5 by summer. And the cost is becoming a political issue just as the presidential campaign kicks into high gear.


American Airlines parent seeks Ch. 11 protection

American Airlines Bankruptcy

American Airlines' parent company is seeking Chapter 11 bankruptcy protection as it seeks to unload massive debt built up by years of accelerating jet fuel prices and labor struggles.


Airlines cut small jets as fuel prices soar

Airlines cut small jets as fuel prices soar

Airlines are getting rid of these planes — their least-efficient — in response to the high cost of fuel. Delta, United Continental, and other big airlines are expected to park, scrap or sell hundreds of jets with 50 seats or fewer in coming years. Small propeller planes are meeting the same fate.


United flies first U.S. passengers using fuel from algae

United flies first U.S. passengers using fuel from algae

United Airlines flew the first U.S. commercial passengers Monday on a Boeing 737-824 powered partly with Honeywell biofuel made from algae, a Honeywell subsidiary announced. Flight 1403, scheduled to arrive in Chicago's O'Hare airport at 1:00 p.m. CST from Houston, used a blend of petroleum-based jet fuel and aviation biofuel made from algal-oil, provided by Solazyme, according to Honeywell's UOP.


EPA gas mileage ratings don't add up in real world

The EPA's tests that measure a vehicle's fuel economy are outdated. They're conducted with professional drivers inside of laboratories using better-performing fuel and with air conditioning turned off for most of the ride.


Fuel-Economy Plan Unveiled

The White House unveiled a fuel-economy proposal that would roughly double U.S. fleet average to 54.5 miles-a-gallon by 2025. The proposal won support from the largest auto-makers and environmental groups.


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