MONEY MASTER

  FedEx's Profit Forecast Takes a Hit Again: What Does It Mean for the U.S. Economy? FedEx is the latest company to signal a slowdown in the U.S. economy. For the third consecutive quarter, the global shipping giant has revised its profit forecast downwards, citing ongoing weakness and uncertainty within the U.S. industrial sector. Key Takeaways: Profit Outlook Cut : FedEx lowered its earnings forecast for fiscal 2025, now expecting profits between $18 and $18.60 per share, down from the previous range of $19 to $20 per share. Analysts had been expecting $18.93 per share. Continued Demand Weakness : The company's business-to-business shipments, which are typically higher-margin, are still feeling the strain. The freight division, in particular, has been hit hard with fewer shipments and lower weights, although the impact has softened somewhat compared to last quarter. Sales Projections : FedEx now expects sales to be flat or slightly lower year-on-year, signaling less-than-expe...

UK salaries grew at their slowest pace in three-and-a-half years in September, indicating a loosening labor market ahead of Chancellor Rachel Reeves’s first budget on Oct. 30, according to a survey by the Recruitment & Employment Confederation (REC) and KPMG . The survey revealed that an increase in available candidates and reduced demand for staff contributed to weaker pay growth for permanent hires , the slowest since February 2021. Wages for temporary staff even declined . The Bank of England (BOE) is closely monitoring wage inflation as it debates a possible interest-rate cut in November . Governor Andrew Bailey has suggested that the BOE might take a more aggressive stance on rate cuts if inflation trends continue to be positive. Neil Carberry , CEO of REC, noted that pay is moderating and falling below its long-term trend, which could push the BOE to cut interest rates sooner. The findings come as businesses grow increasingly concerned about tax hikes and spending...

The UK's economic growth for the second quarter of 2024 has been revised down to 0.5% , from an initial estimate of 0.6% , according to the Office for National Statistics . This suggests that the economic recovery is losing momentum as Labour , under Prime Minister Keir Starmer , took power. The downgrade follows 0.7% growth in the first quarter, with no revision expected by economists. This revision is a setback for Starmer , who has promised to boost growth to 2.5% , far higher than the current levels and what forecasters predict in the near future. Further slowing is evident, with July output flatlining for the third time in four months, raising concerns about the economic outlook. Chancellor Rachel Reeves is expected to announce tax rises and spending cuts in her October 30 budget , aiming to address a budget deficit inherited from the previous government. Surveys suggest the UK economy could slow to a quarterly growth rate of 0.3% . While real disposable income per head...