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Fedex plans more cost-cutting, as Fred Smith cuts guidance on earnings

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Even Fedex, the much-admired – and envied –  integrator is also finding times a little tough. Fred Smith is blaming policy decisions in the EU and US for the downturn in the company’s fortunes – it has cut its guidance on expected earnings for the rest of this year. And plans to cut costs. More bad news for air freight.

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