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  • FedEx says it will scale back operations due to falling demand from users

    2022.10.01

    Global logistics giant FedEx also shouted 'Winter is coming'!Raj Subramaniam, president and chief executive of FedEx Express, said that as of the end of the first quarter of the financial report on August 31, global freight volumes 'significantly worse'.FedEx expects business conditions to remain weak in its second-quarter earnings report (September, October, November) and has withdrawn its earnings forecast for the remainder of the fiscal year.In a press release, FedEx said: 'First-quarter results were adversely impacted by weaker global freight volumes, a trend that accelerated in the final weeks of the quarter.' 'FedEx's results were particularly affected by Asia The impact of macroeconomic weakness and service challenges in Europe resulted in the segment's revenue falling approximately $500 million below company expectations. FedEx Ground revenue was approximately $300 million below company expectations.' FedEx President and CEO Rajsu Brahmanian said: 'As macroeconomic trends show signs of
  • What does RMB exchange rate break 7 mean?

    2022.10.01

    RMB breaking 7 means that the amount of RMB exchanged for 1 US dollar exceeds 7 yuan, that is, the RMB depreciates further.The reason why the RMB broke 7 is mainly because the US dollar is still strong now. Once the Fed raises interest rates, the world's currencies will depreciate, because the whole world is going to exchange the US dollar.After the exchange rate reform in 2015, in August 2019 and the beginning of 2020 two rounds of RMB broke '7' and then returned, so this '7' is not like the age of a person, if it is broken, it will not come back, nor is it a dam , if it is broken, it will collapse for a thousand miles.The U.S. dollar has raised interest rates and the global dollar has returned. In the global mainstream currencies, the RMB depreciated by -9%, the British pound -18%, the euro -15%, the Japanese yen -22%, the Australian dollar -7%, the Canadian dollar -4%, and the Swiss franc -8%.In fact, in the SDR basket, the US dollar has appreciated, and the RMB has also appreciated, but the US dollar has appreciated more than us.Apart from the depreciation of the US dollar, the RMB exchange rate has appreciated against other major currencies this year.Let's take the Japanese yen as an example, 2
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