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FedEx posts profit; express shipping rates will rise next year

(Reuters) – FedEx Corp posted a better-than-expected quarterly profit on cost cuts and said it would raise rates next year for express shipping, a business that has suffered as customers shift to slower but cheaper delivery options. The company, considered an economic bellwether because of the massive volume of goods it moves around the world, said on Wednesday it earned $489 million, or $1.53 a …

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