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Business Update: FedEx job cuts

February 09, 2009

FedEx, the world's leading package shipper, is slashing 900 jobs at its freight unit, adding to signs there was little economic improvement in recent weeks. The Dow shed 9 points to 8,270. The S&P 500 rose more than a point to 869. The Nasdaq was little changed at 1,591. Conway Gittens reports from New York.