FedEx Parks Planes, Maersk Cancels Sails: World Trade Appears to Be Rapidly Deteriorating

FedEx Parks Planes, Maersk Cancels Sails: World Trade Appears to Be Rapidly DeterioratingShow more

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Economic storm clouds are gathering worldwide as some of the largest shipping companies warn about sliding global trade. US shipper FedEx and Danish shipping giant A.P. Moller-Maersk A/S have been vocal about emerging signs of a global slowdown. Both of these companies are widely seen as a barometer for international trade.  The latest to warn about weakening economic growth is FedEx CFO Michael Lenz telling an audience Tuesday at the Robert W Baird Global Industrial Conference that the company has reduced flights and parked planes to cut costs in response to soft demand for package delivery.  Look, we absolutely will...
Source: https://www.newswars.com/fedex-parks-planes-maersk-cancels-sails-world-trade-appears-to-be-rapidly-deteriorating/