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FedEx says economy is worsening, cuts outlook

FedEx

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 tumbles on economic worries

Oil prices fell 3.2% Monday, to below $70 a barrel, as further signs of weak fuel demand raised expectations that prices may have raced ahead of the nascent economic recovery.

 

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