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Indian equities fall for 4th straight session after hawkish US Fed forecast

The sell-off shaved off investor wealth by Rs 2.8 trillion on Thursday, extending the four-day loss to almost Rs 10 trillion

Indian equities fall for 4th straight session after hawkish US Fed forecast
Updated On : 19 Dec 2024 | 11:11 PM IST

Govt probe clears DHL, FedEx, UPS of price collusion allegations: Report

The CCI's findings said the companies did not share "commercially sensitive information amongst themselves," according to the report seen by Reuters

Govt probe clears DHL, FedEx, UPS of price collusion allegations: Report
Updated On : 07 Dec 2024 | 12:01 AM IST

India is among top 3 fast-growth markets for us: FedEx's Richard W Smith

Smith, the COO, international, and CEO, Airline FedEx, said express transportation firm unveiling its fourth international daily flight connecting India to the rest of world

India is among top 3 fast-growth markets for us: FedEx's Richard W Smith
Updated On : 18 Nov 2024 | 10:48 PM IST

FedEx ties up with Invest India for SMEs growth by providing global access

Express transportation firm FedEx on Monday said it has collaborated with Invest India to boost the growth of domestic small businesses by providing them with access to global markets, capacity building, and branding opportunities to support the central government's 'One District-One Product' (ODOP) initiative. FedEx said it will leverage its global network and logistics expertise to empower SMEs to access international markets and streamline shipping processes. The company said it aims to enhance brand visibility and product quality for artisans by leading webinars, workshops, and on-ground events in association with Invest India, enabling SMEs to showcase their unique products from India's diverse districts to international buyers. Collaborating with Invest India, FedEx will integrate ODOP clusters into its SME Connect platform to promote knowledge sharing and practical training for small businesses, it said. The One District One Product aims to promote a unique product from each

FedEx ties up with Invest India for SMEs growth by providing global access
Updated On : 11 Nov 2024 | 7:08 PM IST

Here's how Trump could overhaul US financial regulators if he wins on Nov 5

In 2020, the US Supreme Court handed the president more authority over the Consumer Financial Protection Bureau, including by empowering him or her to fire its director at will

Here's how Trump could overhaul US financial regulators if he wins on Nov 5
Updated On : 10 Oct 2024 | 11:24 AM IST

FedEx plans $5 bn buyback as CEO's cost-cutting measures yield results

The shares rose as much as 13% after regular trading in New York, while competitor United Parcel Service Inc. advanced 3.4%

FedEx plans $5 bn buyback as CEO's cost-cutting measures yield results
Updated On : 22 Mar 2024 | 7:47 AM IST

FedEx Express inaugurates regional hub at Dubai World Central Airport

New York Stock Exchange-listed FedEx Corp subsidiary FedEx Express on Tuesday announced the official inauguration of its regional hub at Dubai airport which would help it provide a greater foothold in the Middle East, Indian Subcontinent and Africa markets. This new FedEx regional hub at Dubai World Central Airport marks a long-term investment of more than USD 350 million, focusing on infrastructure, and technological advancements, the company said in a statement. The investment in the new hub further enhances India's connectivity to the rest of the world through the UAE, and forms an integral component of the region's logistics ecosystem, the company said. The 57,000 sq m facility incorporates advanced technologies that include automated sort systems that enhance the efficiency, accuracy, and speed of package processing and distribution from the facility, FedEx said. The hub also has two automated high-speed x-ray machines along with a dedicated 170 sq. m cold storage area to cat

FedEx Express inaugurates regional hub at Dubai World Central Airport
Updated On : 20 Feb 2024 | 7:55 PM IST

Govt probes DHL, FedEx, UPS for alleged collusion on discounts & tariffs

Competition Commission of India (CCI) has begun reviewing hundreds of thousands of emails as it investigates the fees companies charged for airport services

Govt probes DHL, FedEx, UPS for alleged collusion on discounts & tariffs
Updated On : 05 Jan 2024 | 11:03 PM IST

FedEx Express sets up tech hub in Hyderabad, invests $100 mn in facility

FedEx Express, an arm of New York Stock Exchange-listed, global express transportation firm FedEx Corp, on Tuesday inaugurated its first tech hub in India at Hyderabad, set up at an investment of USD 100 million. Envisioned as a hub for technological and digital innovation, the facility is aligned with the Telangana government's strategic emphasis on nurturing a thriving pool of tech talent, the company said in a statement. In addition to boosting employment opportunities, it will also contribute to the development of new capabilities and meeting the technological requirements of FedEx operations worldwide, it said. Marking a significant investment of USD 100 million in Hyderabad's economic landscape, FedEx Express inaugurated its first Advanced Capability Community (ACC) in Hyderabad on Tuesday, the company said in the statement. This investment in talent and innovation is part of our broader plan to drive excellence and deliver unparalleled smart logistics solutions worldwide, sa

FedEx Express sets up tech hub in Hyderabad, invests $100 mn in facility
Updated On : 05 Dec 2023 | 6:44 PM IST

Opportunity to increase share of global manufacturing in India: FedEx CEO

A significant opportunity exists to strengthen global manufacturing in India, according to President and CEO of global transportation giant FedEx Raj Subramaniam. Addressing a session at the B20 Summit organised by CII, Subramaniam on Friday said about the opportunity for India to reduce non-tariff barriers, and make it streamlined and easy so that the goods can flow across borders as smoothly as possible. "India represents about 2.8 per cent of global manufacturing. Who here will doubt that we can double that, triple that, what is the limit," he said, adding, "There is a significant opportunity to increase the percentage of global manufacturing in India and I think this is a moment of opportunity here". The FedEx CEO observed that there lies "a significant opportunity while we double or triple manufacturing there is an opportunity to reduce the cost of logistics as a percentage of GDP in India, maybe even halve it". He praised the PM Gati Shakti - a National Master plan for ...

Opportunity to increase share of global manufacturing in India: FedEx CEO
Updated On : 25 Aug 2023 | 8:56 PM IST

FedEx grapples with improving contractor safety amid push to merge fleets

The amount of self-insurance reserves FedEx sets aside to cover claims surpassed $5 billion for the first time during the fiscal year ending May 31, up from $2.47 billion in 2017

FedEx grapples with improving contractor safety amid push to merge fleets
Updated On : 16 Aug 2023 | 3:39 PM IST

PM Modi to address FedEx, Mastercard, other US CEOs during US trip

Biden has been eager to strengthen ties with India as part of his bid to win what he has framed as a contest between free and autocratic societies, especially China

PM Modi to address FedEx, Mastercard, other US CEOs during US trip
Updated On : 16 Jun 2023 | 4:09 PM IST

Indian-American CEO Raj Subramaniam presented with Pravasi Bharatiya Samman

Raj Subramaniam, the Indian-American CEO of global transportation giant FedEx, has been presented with the prestigious Pravasi Bharatiya Samman, the highest civilian award given by India to persons of Indian origin and Indian diaspora. Subramanian, 55, was presented with the award by India's Ambassador to the US Taranjit Singh Sandhu at a ceremony at the India House on Saturday since he could not travel to India early this year to receive the award. The other awardee, Darshan Singh Dhaliwal, was also present at the event. Finance Minister Nirmala Sitharaman and US Commerce Secretary Gina Raimondo along with senior officials of the Biden Administration and several hundred Indian Americans were present at the event. Subramanian is the president and CEO of FedEx Corporation, one of the world's largest transportation companies. His international leadership experience and keen business insights have contributed immensely to the success of FedEx.

Indian-American CEO Raj Subramaniam presented with Pravasi Bharatiya Samman
Updated On : 16 Apr 2023 | 10:18 PM IST

FedEx combines air, ground, other operations by next year to slash costs

FedEx will combine almost all of its ground, air and other operations by next year as part of a USD 4 billion cost cutting plan. The package delivery company said Wednesday that FedEx Express, FedEx Ground, FedEx Services and other FedEx operating companies will be rolled into a single entity by June 2024 in a companywide reorganisation. FedEx Freight, the company's freight transportation services division, will continue as a stand-alone company within Federal Express Corp. Raj Subramaniam will serve as president and CEO of the combined organisation. John Smith will become president and CEO of US and Canada ground operations at FedEx Express and assume leadership of surface operations across the FedEx Express, FedEx Ground, and FedEx Freight businesses. Richard Smith will serve as president and CEO, airline and international at FedEx Express, overseeing all other regions and FedEx Logistics. The company expects to realise permanent cost reductions of USD 4 billion from the reshuff

FedEx combines air, ground, other operations by next year to slash costs
Updated On : 05 Apr 2023 | 7:43 PM IST

FedEx to slash over 10% of management jobs globally, says report

The latest cuts bring FedEx's total employee reductions to 12,000 since June, a spokeswoman said

FedEx to slash over 10% of management jobs globally, says report
Updated On : 03 Feb 2023 | 12:22 AM IST

FedEx India deploys EVs to achieve goal of zero-emission last-mile delivery

Moreover, the company said that it has a goal of converting 50 per cent of its global pickup and delivery vehicle purchases to electric by 2025, with that increasing to 100 per cent by 2030

FedEx India deploys EVs to achieve goal of zero-emission last-mile delivery
Updated On : 10 Jan 2023 | 5:46 PM IST

FedEx troubles set off fresh worries among investors over global economy

The delivery giant's shares lost 21 per cent on Friday, its biggest one-day percentage drop ever

FedEx troubles set off fresh worries among investors over global economy
Updated On : 17 Sep 2022 | 3:47 PM IST

FM Sitharaman meets heads of FedEx, Mastercard, others during US visit

Finance Minister Nirmala Sitharaman on Thursday met CEOs of large American firms like FedEx and Mastercard and discussed various opportunities for investment in India as the country is poised to be the fastest-growing large economy in the world. The Finance Minister is in the US to attend IMF-WB Spring Meetings 2022. FedEx President and CEO-elect Raj Subramanian, during the meeting with the Finance Minister, mentioned that he is positive about India and has significant expansion plans, including in skilling. Appreciating the government's commitment to integrated development through PM Gati Shakti Master Plan, Subramanian said the company is looking at R&D Centres in India. Last year, Prime Minister Narendra Modi launched a Rs 100 lakh crore national master plan for multi-modal connectivity that aims to develop infrastructure to reduce logistic costs and boost the economy. PM Gati Shakti targets to cut logistic costs, increase cargo handling capacity and reduce the turnaround time.

FM Sitharaman meets heads of FedEx, Mastercard, others during US visit
Updated On : 23 Apr 2022 | 1:51 PM IST

Wall Street update: Nasdaq, S&P rise on tech boost after Biden-Xi talks

FedEx falls on lower-than-expected quarterly earnings; Moderna up on seeking FDA authorisation for second booster

Wall Street update: Nasdaq, S&P rise on tech boost after Biden-Xi talks
Updated On : 18 Mar 2022 | 9:41 PM IST

Locked in hotels: Hong Kong's Covid rules take mental toll on Cathay pilots

Cathay Pacific, is facing a revolt from pilots who say Hong Kong's tough quarantine rules under its zero-Covid policies are endangering their mental health

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Updated On : 26 Nov 2021 | 8:15 AM IST