Chinese Social Media Giant Xiaohongshu Eyes Hong Kong IPO at Over $70 Billion Valuation 
SK Hynix Shares Hit Record High After Shipping Next-Generation HBM4E AI Memory Samples 
Obayashi to Acquire Multiplex in $526M Expansion Deal 
US Raises Concerns Over Possible ASML EUV Machine Transfer to China 
GM and Lockheed Martin Partner to Strengthen U.S. Defense Manufacturing Capacity 
J.P. Morgan Sees Potential Vestas Guidance Upgrade Amid Strong Wind Energy Demand 
HSBC Australia Faces A$35M Penalty Over Scam Protection Failures 
TD Bank Expands Employee Monitoring Software to Boost Productivity Amid Privacy Concerns 
Trump Says Anthropic No Longer Seen as National Security Threat 
Hyundai to Acquire SoftBank’s Remaining Boston Dynamics Stake for $325 Million 
Frank Stronach Found Guilty of Sexual Assault and Indecent Assault in Ontario Court 
Samsung Gains Interest from BYD, Google, AMD as AI Chip Demand Strains TSMC Capacity 
John Jumper Leaves Google DeepMind for Anthropic Amid Intensifying AI Talent Race 
Trump Administration Delays DeepSeek and CXMT Trade Blacklist Designations Amid U.S.-China Tensions 
SpaceX Stock Slides After IPO Rally as Valuation Concerns Grow 
Jio IPO Filing Nears as Reliance Targets $4 Billion Market Debut 
Frederick W. Smith, the visionary founder of FedEx Corp and a pioneer in global logistics, has passed away, according to a memo posted by FedEx CEO Raj Subramaniam on the company’s website. Smith, who launched the company in 1973 with just 14 aircraft and 389 employees, transformed FedEx into one of the world’s largest delivery networks.
Born in 1944, Smith served as a U.S. Marine Corps officer in Vietnam before establishing Federal Express. On its first night, the company delivered 186 packages to 25 U.S. cities from its Memphis hub. Today, FedEx operates a fleet of 705 aircraft and over 200,000 vehicles across 5,000 facilities, handling approximately 17 million shipments daily and employing over 500,000 people globally.
Smith stepped down as CEO in 2022, handing the reins to then-COO Raj Subramaniam, but continued serving as executive chairman. In that role, he focused on board governance and global issues such as sustainability, innovation, and public policy. His leadership not only revolutionized overnight shipping but also helped define modern supply chain logistics.
"Fred was more than just the founder of FedEx—he was a mentor, a leader, and a true inspiration," Subramaniam wrote in the tribute. Smith’s entrepreneurial vision, strategic foresight, and relentless drive to innovate reshaped how the world moves goods and information.
Smith’s passing marks the end of an era in transportation and logistics. His legacy lives on through the global infrastructure he built, connecting businesses and people around the world with speed and reliability. FedEx’s success remains a testament to his groundbreaking idea: that the world needed fast, reliable overnight delivery.
