FedEx earnings should show COVID impact
COVID-19, trade wars and efforts to increase efficiency and lower costs in residential deliveries are expected to be front and center when FedEx reports fiscal 2020 and quarterly earnings.
Wayne Risher
Reporter
Business news reporter, 43-year veteran of print journalism, 35-year resident of Memphis, University of Georgia alumnus and proud father and spouse of University of Memphis graduates.
There are 745 articles by Wayne Risher :
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June 2020
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Transportation & Logistics -
Health Care Stryker extends bid for Wright Medical again
Stryker has extended for a third time its tender offer to buy Memphis-grown medical device maker Wright Medical. The new deadline is Aug. 31.
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Transportation & Logistics MEM flights returning in July, August
Memphis International Airport reports nonstop flights pulled down by airlines because of COVID-19 are returning over the next couple months. A new Salt Lake City nonstop is coming August 1.
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Transportation & Logistics FedEx expects e-commerce boom here to stay
Memphis-based FedEx said it does not expect surging e-commerce business to weaken post-COVID-19. Earnings reported Tuesday beat Wall Street estimates.
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July 2020
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Business More than 57,000 in Memphis area draw jobless pay
University of Memphis economist warns that ending $600-a-week federal jobless payment would endanger a fragile economic recovery and dampen wages and wage increases for workers.
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Transportation & Logistics FedEx requests NFL ‘team in Washington’ change its name
FedEx Corp. chairman and CEO Frederick W. Smith is a 10% owner of the team.
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Transportation & LogisticsFedEx fights to grow profits in pandemic
E-commerce and a shortage of air cargo capacity pushed FedEx fourth quarter earnings well past analysts' expectations. Analysts wonder if trends will continue – and produce a desired goal of double-digit profits.
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City of MemphisExclusive: Corps of Engineers monitoring Tom Lee makeover
The Corps of Engineers took a wait-and-see attitude on some questions about how much Tom Lee Park can be changed by new park design, suggesting ongoing dialog ahead.
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City of MemphisExclusive: How much will it cost to maintain new Tom Lee Park?
There's no doubt costs of maintaining and operating Tom Lee Park will increase after a planned $60 million overhaul of the riverfront park. How much is an open question.
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Downtown Post Office decommissioning Front Street Station, 10 years later
The Postal Service is finally taking the Front Street Post Office off the books, after suspending operations when the University of Memphis law school moved Downtown in 2010.
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Business PPP loans offset COVID-19 losses for small businesses
SBA data suggests Paycheck Protection Program thus far has aided more than 14,000 Shelby County businesses and helped retain more than 50,000 jobs.
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Business COVID-19 job cuts reach 1 in 4 workers
Tennessee data showed 53,703 Shelby County residents and 256,645 Tennesseans were receiving unemployment benefits in the week ending July 4.
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Transportation & Logistics FedEx offers COVID-19 tests to its Memphis employees, vendors
FedEx has launched voluntary COVID-19 testing for Memphis area employees and on-site vendors. Testing sites are at FedEx Express world headquarters and near the hub at Memphis International Airport.
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Business EDGE throws lifeline amid COVID-19 challenges
Sekisui won a grant from the Economic Development Growth Engine to aid the sushi restaurant's comeback from an extreme loss of business due to COVID-19.
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Transportation & Logistics FedEx threatens to pull brand from FedExField
FedEx founder, chairman and CEO Frederick Smith also is looking to sell his ownership stake in the NFL Redskins franchise, The Washington Post reported.
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Business Washington drops Redskins after FedEx threat
Washington Football Inc. says it will drop the controversial name of its NFL team and announce a new name later. FedEx was among companies applying pressure for the change.
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Food NewsBars sue Health Dept. over COVID closing
Blind Bear and other bars and limited-service restaurants are seeking an injunction allowing them to stay open.
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Transportation & Logistics Memphis airport sets virtual insider tour
Memphis International Airport’s periodic behind-the-scenes tour will be offered in virtual format Friday, July 17, in collaboration with CityCURRENT.
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Health CareUTHSC: Animal care complaint ‘promptly’ addressed
Advocacy group Stop Animal Experimentation Now asked the agriculture department to investigate a 2019 UTHSC research experiment with baby pigs. The university said the issue was dealt with appropriately.
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Transportation & Logistics Pent-up leisure demand keeps hotels afloat
Hotel occupancy rates nationally nearly doubled between early April and July 4, but industry is still hunkered down because of business travel shutdown and recent spikes in COVID-19 cases.
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Business Thousands of jobless claims still rolling in
University of Memphis economist John Gnuschke said it will take years, not months, for Memphis to recover from devastating job losses caused by COVID-19.
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South Memphis Graceland pares down Elvis Week in pandemic
A free, reservation-only version of the Elvis Week Candlelight Vigil will feature social distancing and smaller crowds.
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Transportation & Logistics Southwest’s Memphis-Phoenix nonstop coming sooner
Southwest Airlines' daily nonstop between Memphis and Phoenix has been re-slotted for a summer start.
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Transportation & LogisticsFedEx flexing robotic arms in Memphis
FedEx and Plus One collaborated with Yaskawa America on new package-handling robotic arms that made their debut earlier this year at FedEx Express world hub in Memphis.
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Transportation & Logistics Cobblestone bids come in over budget
With bids over budget, options could include re-bidding, scaling down the project or finding more funding.
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