FedEx has admitted that shipments in the last quarter fell shy of forecasts as growth came close to stalling in several economies. Shipments inside the US dropped 3%, while demand inside Asia for overnight delivery services also declined, causing the company to trim its annual profit forecast. FedEx plans to stick with its $4.2bn (£2.7bn) investment plan that will see it replace its fleet of aircraft with more fuel-efficient aircraft. The company posted profits of $464m for the three months to the end of August, up 22% from the same period last year.

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