Manufacturing Giants: China Battle and Profit Outlook

manufacturing giants: Blaming a weakening global economy, Fed Ex Corp. sliced its profit outlook in the latest sign that trade tensions are dragging down U.S. corporate titans, according to Xinhua China. The shares tumbled. Sign up here. The forecast signaled deepening trouble for the courier as the U.S. and China battle over tariffs -- which has also ensnared manufacturing giants such as Caterpillar Inc. and Deere & Co. The global economy continues to soften and we are taking steps to cut capacity, Chief Executive Officer Fred Smith said in a conference call to discuss earnings late Tuesday. FedEx, which had announced an employee-buyout program in January, said it would pare its cargo-jet fleet to contend with the diminished expectations. (news.financializer.com). As reported in the news.