Global Trade Collapses: One Of World’s Largest Logistics Companies Slashes Forecast; Blames Europe, US Trade
by Tyler Durden
ZeroHedge.com
09/24/2014
Listening to the iPhone and Alibaba infotainment channel, the name TNT Express has been mentioned exactly zero times today. For those who are unaware, Dutch TNT Express, which UPS tried to acquire in 2012, is one of the world’s largest logistics companies competing with UPS, FDX and DHL. And the reason the name is important this morning, and thus why it is being avoided on this side of the Atlantic, is because earlier today it provided the latest confirmation of Goldman showed previously, namely that the global economy has not only hit a brick wall, but is now in reverse, when it warned that as a result of “weak growth in Europe and the US” it would not meet its overoptimistic full-year targets. The result: its stock plunged by 11%. And since global logistics and trade, or lack thereof, is universal, expect FedEx and UPS to follow shortly with guidance cuts of their own in the coming days and weeks.
The Rest…HERE
