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FedEx reported gains in fourth-quarter revenue and earnings on the heels of a profitability initiative that helped counter market headwinds, but cut its guidance amid trade worries.

“It is with profound sadness and a heavy heart that I share that Frederick W. Smith, our founder and executive chairman, died earlier today,” CEO Raj Subramaniam wrote June 21.

The appointments will take effect after the separation of FedEx Freight from FedEx Corp., which the company expects to complete by June 2026.

The U.S. Postal Service has selected FedEx board member David Steiner to be the country’s next postmaster general, the agency announced May 9.

The USPS board has spent months looking for a new leader after Louis DeJoy abruptly resigned in March. DeJoy had pushed for sweeping changes to promote efficiency at the postal service.

President Donald Trump’s tariffs on Chinese imports threaten to disrupt Southern California’s trade and logistics economy, a sector that moves a third of the nation’s container cargo.

The U.S. Postal Service has been struggling for years, and now President Donald Trump and Elon Musk are considering privatizing it. How did we get here?

FedEx Corp. continued efforts to improve profitability during its fiscal third quarter despite navigating an especially challenging operating environment, the company said.

FedEx is the latest U.S. company to sound the alarm over weakening consumer confidence and potential fallout from President Donald Trump’s escalating trade war.

FedEx said its bondholders agreed to remove its freight business from its lending documents, making it easier for the shipping giant to spin the business off into a new company.