Wednesday, December 18

FT News Briefing

Forhecz Topher

News, Daily News, News & Politics

4.4 • 1.3K Ratings

🗓️ 18 December 2019

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

FedEx cuts its annual earnings guidance for the second time in three months, a new report shows that Royal Dutch Shell paid no corporate income tax in the UK in 2018 and Sterling surrendered its post-election gains on Tuesday after Boris Johnson signalled he will try to push legislation that could cause a “cliff-edge” Brexit next year. Plus, like other countries in central Europe, Poland is facing a labour shortage. The FT’s James Shotter explains how some Polish manufacturers are replacing these workers.

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Transcript

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0:00.0	The UK's energy partner.
0:06.0	Learn more at equinore.
0:10.0	Good morning from the newsroom of the Financial Times.
0:12.0	Today is Wednesday, December 18th. Good morning from the newsroom of the Financial Times.
0:12.6	Today is Wednesday, December 18th,
0:15.2	and this is your FT news briefing.
0:18.6	A weaker global economy and a broken Amazon deal
0:21.6	get the best of FedEx.
0:23.6	Royal Dutch Shell paid no corporate income tax in the UK last year,
0:28.1	and Sterling dropped on Tuesday after Boris Johnson
0:31.1	signaled that he would push for a hard Brexit.
0:35.0	Plus we'll look at what some Polish manufacturers are doing to tackle the country's
0:39.3	labor shortage.
0:40.7	I'm Mark Filipino, and here's the news you need to start your day.
0:45.0	FedEx cut its annual earnings guidance for the second time in three months on Tuesday. The U.S. Economic Bell Weather said it
0:54.8	expects current year earnings of between $10.25 to $11.50 a share. Its
1:01.3	previous estimate had a range as high as $13. The revised expectations came
1:07.2	as FedEx reported a miss on revenue and earnings estimates in its latest quarter.
1:11.3	And so in response the company plans to cut back on hiring and cut its air freight capacity.
1:18.0	FedEx had a few explanations for the poor results.
1:21.0	One, a weaker global economy meant fewer packages being sent in some regions.
1:26.0	Two, its ground shipping business has gotten more expensive.
	...

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