Business Wire

FedEx Committing More Than $3.2 Billion in Wage Increases, Bonuses, Pension Funding and Expanded U.S. Capital Investment Following the Passage of the Tax Cuts and Jobs Act

Jaa

FedEx Corporation is announcing three major programs today following the recently enacted U.S. Tax Cuts and Jobs Act:

1) Over $200 million in increased compensation, about two-thirds of which will go to hourly team members by advancing 2018 annual pay increases by six months to April 1st from the normal October date. The remainder will fund increases in performance-based incentive plans for salaried personnel.

2) A voluntary contribution of $1.5 billion to the FedEx pension plan to ensure it remains one of the best funded retirement programs in the country.

3) Investing $1.5 billion to significantly expand the FedEx Express Indianapolis hub over the next seven years. The Memphis SuperHub will also be modernized and enlarged in a major program the details of which will be announced later this spring.

FedEx believes the Tax Cuts and Jobs Act will likely increase GDP and investment in the United States.

The company has made no change to its fiscal 2018 earnings or capital expenditure guidance as issued on December 19, 2017, as a result of these actions.

Corporate Overview

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $62 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 400,000 team members to remain “absolutely, positively” focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com.

Forward-Looking Statements

The additional pension contribution is expected to be funded in the third quarter of fiscal 2018 through available debt financing sources.

Certain statements in this press release may be considered forward-looking statements, such as statements relating to management’s views with respect to future events and financial performance. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, economic conditions in the global markets in which we operate, a significant data breach or other disruption to our technology infrastructure, the ongoing impact of the June 27 cyberattack affecting TNT Express, our ability to successfully integrate the businesses and operations of FedEx Express and TNT Express in the expected time frame or at the expected cost, changes in fuel prices or currency exchange rates, our ability to match capacity to shifting volume levels, new U.S. domestic or international government regulation, our ability to effectively operate, integrate and leverage acquired businesses, our ability to achieve our FedEx Express segment profit improvement goal, legal challenges or changes related to owner-operators engaged by FedEx Ground and the drivers providing services on their behalf, disruptions or modifications in service by, or changes in the business or financial soundness of, the U.S. Postal Service, the availability of financing on terms acceptable to us, the impact from any terrorist activities or international conflicts, and other factors which can be found in FedEx Corp.’s and its subsidiaries’ press releases and FedEx Corp.’s filings with the SEC. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact information

FedEx Corp.
Patrick Fitzgerald, 901-818-7300

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

V-CAT to Begin a New Type of Crowdfunding, Using Digital Currency23.1.2019 03:00Tiedote

V-CAT Vietnam will develop a new type of crowdfunding services that uses digital currency. A platform that uses the JC-coin digital currency will be built, and all data involved in transactions will be safely protected with leading-edge blockchain technology. Any user with JC-coins can exchange any physical or digital assets they might own on the platform for more JC-coins. This will provide the funding needed to develop revolutionary new products and services, together with users worldwide, and will enable new investments in all kinds of different businesses. V-CAT is proceeding with development of the MALLLESS platform in advance of an April 2019 launch of services. The goal is to host 10 million users worldwide by 2020. What makes MALLLESS unique is that businesses and individuals can take advantage of the point-transfer transaction model website and the proprietary wallet mechanism, both of which enable any selling of new or used goods, or of intangibles. There is also conversions

Prominent Trade Consulting Firm in South Korea Switches to Rimini Street Support for Its Oracle Database23.1.2019 02:00Tiedote

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products, today announced that EC21, a leading export marketing and trade consulting firm in Korea, has switched to Rimini Street support for its Oracle Database software. By switching to Rimini Street, EC21 is able to dramatically reduce the total cost of maintenance of its Oracle Database by approximately 75 percent, and improved productivity within its IT department as resources can be reallocated to more strategic projects across the organization. EC21 can also maintain its robust, stable database platform for a minimum of 15 years from the time the company moved to Rimini Street, avoiding any unnecessary upgrades just to retain full support from the vendor. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190122005104/en/ Prominent Trade Consulting Fir

IFF to Release Fourth Quarter and Full Year 2018 Results February 1323.1.2019 00:15Tiedote

Regulatory News: International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF) (TASE: IFF), a leading innovator of scent, taste, and nutrition, announced that it will release its fourth quarter and full year 2018 earnings results following the market close on Wednesday, February 13, 2019. The management team will host a live webcast on Thursday, February 14, 2019 at 10:00 a.m. ET to discuss results and outlook with the investor community. Investors may access the live webcast and accompanying slide presentation on the Company's website at ir.iff.com. For those unable to listen to the live webcast, a recorded version will be made available for replay. Meet IFF International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF) (TASE: IFF) is a leading innovator of scent, taste, and nutrition, with over 110 manufacturing facilities, 100 R&D centers, and 33,000 customers globally. At the heart of our company, we are fueled by a sense of discovery, constantly asking “what i

Gilead Sciences to Release Fourth Quarter and Full Year 2018 Financial Results on Monday, February 4, 201923.1.2019 00:05Tiedote

Gilead Sciences, Inc. (Nasdaq: GILD) announced today that its fourth quarter and full year 2018 financial results will be released on Monday, February 4, after the market closes. At 4:30 p.m. Eastern Time, Gilead’s management will host a conference call to discuss the company’s financial results for the fourth quarter and full year 2018 and provide a business update. The live webcast of the call can be accessed at the company’s Investors page at http://investors.gilead.com/. Please connect to the company’s website at least 15 minutes prior to the start of the call to ensure adequate time for any software download that may be required to listen to the webcast. Alternatively, please call 877-359-9508 (U.S.) or 224-357-2393 (international) and dial the conference ID 3826138 to access the call. Telephone replay will be available approximately two hours after the call through 8:00 p.m. Eastern Time, February 6, 2019. To access the replay, please call 855-859-2056 (U.S.) or 404-537-3406 (int

Oxford Nanopore Prevails in Patent Ruling against Pacific Biosciences22.1.2019 20:04Tiedote

Today the European Patent Office revoked Pacific Biosciences patent EP3045542 with claims to a single molecule sequencing process wherein two strands of DNA are linked by a connecting nucleic acid. The validity of the patent had been challenged by Oxford Nanopore. The EPO ruled that the claims to a single molecule sequencing process were unsupported in the application and that the application only supported a template-directed synthesis sequencing method. As Pacific Biosciences were unwilling to accept this change, the patent was revoked. The decision by the EPO is consistent with a recent decision by the International Trade Commission (ITC) to limit the claims of a related Pacific Biosciences US patent to template-directed synthesis. View source version on businesswire.com: https://www.businesswire.com/news/home/20190122005733/en/ Contact information Oxford Nanopore Zoe McDougall media@nanoporetech.com Website: https://nanoporetech.com/

Citi Announces Inaugural Green Bond Issuance22.1.2019 20:00Tiedote

Citi today announced the issuance of the firm’s first green bond, further enhancing its commitment to environmental and climate finance. The bond will fund renewable energy, sustainable transportation, water quality and conservation, energy efficiency and green building projects financed as part of Citi’s $100 billion Environmental Finance Goal. In the deal, which priced on 22nd January 2019, Citi issued €1 billion 3-year fixed rate notes. The transaction marks the first green bond offering from Citigroup Inc. “We are proud to start the year with the launch of our inaugural green bond,” said Jamie Forese, President of Citigroup and Head of the Institutional Clients Group. “This transaction represents an important next step in expanding Citi’s commitment to sustainable growth. This bond also further enhances our green bond expertise, strengthens our partnerships with clients around the world and responds to increasing investor interest in sustainable finance.” In 2015, Citi announced a

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme