FedEx News Updates

FedEx Freight has launched a freight box service that could have a big effect on the way less-than-truckload carriers charge customers, moving toward dimension- and distance-based pricing rather than the National Motor Freight Classification system, analysts said.

Improved profits at the Express and Ground units of FedEx Corp. helped the package company raise fiscal fourth-quarter net income by 20%, excluding one-time costs. This sets the stage for continued Ground capital investment to support increased e-commerce and the initial integration of TNT N.V.

FedEx Ground settled an 11-year-old, nationwide lawsuit by agreeing to pay $240 million to 12,000 truck drivers who said they were misclassified as independent contractors rather than employees of the division of FedEx Corp.

FedEx Corp. chief Fred Smith said June 21 the company is concerned about both presidential candidates’ views on trade, but he hopes it’s only campaign rhetoric.

Improved profitability at the Express and Ground units helped FedEx Corp. increase fiscal fourth-quarter net income, excluding one-time costs, by 20% to $897 million, or $3.30 per share excluding one-time costs.

FedEx Corp. is buying six Boeing 767 freighters valued at $1.2 billion as the world’s biggest cargo airline continues to modernize its fleet.

The Justice Department has dismissed charges that FedEx illegally transported prescription drugs.

FedEx Ground Package System Inc. has agreed to pay drivers in 20 states $240 million to settle lawsuits claiming the second-largest U.S. parcel delivery company misclassified them as independent contractors, it said on June 16.

Memphis, Tennessee, airport officials will consider leasing about 15 more acres to their largest tenant, FedEx.