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When FedEx founder Fred Smith talks, the world of freight listens. This week he was presenting the company’s latest quarterly figures to analysts and was asked about the possible threat of Uber setting up a logistics operation, something its chief executive has admitted is under consideration. After praising the efficiency of the taxi app, Mr Smith added: “I think there’s just an urban mythology out there that the app somehow changes the basic cost input of the logistics business, or changes the circadian patterns, or the underlying business situation. And that’s just incorrect.”

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