“FedEx Corp., operator of the world’s largest cargo airline, cut its annual profit outlook as a weakening economy spurs shippers in the U.S. and overseas to switch to cheaper delivery options. ‘Fundamentally what’s happening is that exports around the world have contracted and the policy choices in Europe, the U.S. and China are having an effect on global trade,’ Chief Executive Officer Fred Smith said on a conference call. ‘Over the last few months, exports and trade have gone down at a faster rate than GDP has.'”
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