FedEx to Raise Freight Shipping Rates

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FedEx Corp. announced a general rate increase of 5.5 percent Wednesday for its FedEx Freight trucking division. The demand for freight shipping is “severely restrained” by the weak national economy, the company said, noting the 6 percent drop in less-than-truckload shipments with FedEx Freight from a second-quarter earnings report last week. The rate hike for…

FedEx has stepped up to the challenge of rivals UPS by agreeing to buy Dutch package delivery company TNT Express for €4.4bn (£3.2bn, $4.8bn). European regulators blocked a 2013 takeover of TNT by UPS due to concerns it would stifle competition, but analysts and executives said FedEx, with its strong air fleet, would complement TNT's…