FedEx slashes outlook, shares fall 11 percent

CHICAGO (Reuters) – FedEx Corp said on Monday it expects to report a better-than-expected second-quarter profit, but slashed its fiscal 2009 outlook as a weakening U.S. economy offsets lower fuel prices, sending its shares down more than 11 percent in after-market trading.

Wall St rallies on infrastructure plan; FedEx falls

NEW YORK (Reuters) – Stocks rallied to their highest level in a month on Monday on optimism President-elect Barack Obama’s proposed infrastructure spending could limit the depth of the year-old recession and on hopes for a government bailout of the three U.S. automakers.

Regulators scratch heads over housing crisis

WASHINGTON (Reuters) – The top U.S. banking regulators said on Monday that some of their foreclosure prevention efforts are floundering and that they have no agreed plan for the future, two years into a housing crisis that has dragged the economy into a deep recession.

Obama to meet Gore to discuss energy, climate

CHICAGO (Reuters) – President-elect Barack Obama will meet Nobel laureate and former Vice President Al Gore in Chicago on Tuesday to discuss energy and climate change, Obama’s office said.

Is Republican John Chambers Turning Socialist?

Cisco’s CEO John Chambers may be as right-wing as ever, but he’s remade Cisco the company into a radical, decentralized, democratized company, where even the CEO is less important than he used to be.

It’s all detailed in the Fast Company cover story,

Apple shares close up 6.1% as tech stocks notch broad gains Monday

‘Technology stocks closed with broad gains Monday, with most bellwethers flexing their muscles along with the rest of the market following reports that a deal could be near to help bail out the U.S. auto industry bring some stability to the current

Iraq security contractors face end to immunity

BAGHDAD (Reuters) – Private security guards in Iraq, whose armored convoys once barreled through the streets with impunity, could face being thrown into crowded and violent Iraqi jails once their era of legal immunity ends on January 1.

H&R Block loss narrows after quitting mortgages

NEW YORK (Reuters) – H&R Block Inc , the largest U.S. tax preparer, on Monday posted a smaller second quarter loss, after shedding its money-losing mortgage operations to focus on its tax business.