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India: UPS, FedEx see slowing volumes.
SHARES of leading package delivery companies United Parcel Service Inc and FedEx Corp sank on Thursday as both warned that the holiday volume growth had eased with the slowing US economy.
UPS, the world's largest package deliverer, gave a weaker-than-expected forecast for fourth-quarter earnings based on slow holiday volumes.
The company said it still expected to meet earnings goals for 2001, "barring further economic slowing".
FedEx, the largest air-express package shipping company and second-largest package shipping firm, said domestic growth rates starting in December were hurt by the slowing economy and harsh winter weather, and predicted …
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