Italian tax police have seized 46.6 million euros ($48.4 million) from FedEx's local unit, FedEx Express Italy srl, following an investigation into alleged tax fraud linked to illicit labour supply, prosecutors' documents showed on Wednesday.

FedEx stock is trading lower on Thursday in sympathy with United Postal Service, which fell after it reported 2024 fiscal-year fourth-quarter earnings.

FedEx remains the largest employer in Memphis, with over 32,000 employees, according to MBJ research. In December, FedEx announced plans to spin off its less-than-truckload segment FedEx Freight into a separate publicly traded company within the next 18 months.

Residents in Allegany County are expressing frustration over ongoing delivery issues with FedEx. Complaints range from packages ‘delivered’ miles away from their destination to significant delays.

Residents in several areas of Holmes County say they have not received deliveries from FedEx in more than a week, leaving some without essential items such as medication and heating supplies.

Throughout its history, FedEx has been an integral part of the small- and medium-sized business (SAM) sector. The extensive FedEx network is both a vital part of the global small business supply chain and a key distribution network for those companies.

Memphis, Tennessee-based FedEx Corporation (FDX) is the leader in global express delivery services, providing transportation, e-commerce, and business services in the U.S. and internationally. With a market cap of $67.

The clock is ticking but the PGA Tour confirmed it still is considering changing the format of the Tour Championship, which could be voted on for this season at its February board meeting. Golfweek spoke with multiple player directors about the Tour Championship format change earlier this month.

John Smith, FedEx chief operating officer of U.S. and Canada surface operations, is set to lead FedEx Freight in the interim until a new CEO is named, according to a news release. The company did not issue a timeline on when a new CEO is expected to be named, but did note the FedEx Freight separation remains on track to be completed in 18 months .

West Virginia has been abuzz about delays with package delivery service FedEx over the past few weeks, with some customers claiming that they haven't received crucial items like food and medicine in nearly a month.

The stock's fall snapped a two-day winning streak.

Officials are urging drivers to find an alternative route as they work to secure the area between the I-270 split and Democracy Blvd.