FedEx CEO dismisses reports of Amazon challenge as fantastical
Dallas
WHEN FedEx Corp chief executive officer Fred Smith looks at Amazon.com Inc, he sees a valuable customer - not a mortal danger.
A major competitive threat from Amazon to FedEx or United Parcel Service Inc is unlikely because the online retailer would have to invest tens of billions of dollars and years of effort to build its own delivery network, Mr Smith said on Wednesday. Instead, Amazon is seeking better control of its inventory and "last-mile" shipments to customers, FedEx said.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Technology
Meta’s results are best viewed through rose-tinted AI glasses
'Harvesting data': Latin American AI startups transform farming
After long peace, Big Tech faces US antitrust reckoning
Tech’s cash crunch sees creditors turn ‘violent’ with one another
Tech millionaires chase billionaire tax shields with ‘swap fund’
Elon Musk’s Starlink profits are more elusive than investors think