Global recession coming – FedEx CEO

The global economy

The shipping giant’s stock suffered a hit after its chief made a grim prediction.

The global economy is headed for a recession, FedEx CEO Raj Subramaniam told CNBC’s Jim Cramer on Thursday. The shipping behemoth’s executive predicted that the financial issues that forced his company to withdraw its full year guidance after missing earnings and revenue estimates for its first quarter will soon befall the rest of the world.

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