Fedex Corp reported fiscal 2Q revenues (to Nov. 30) which grew 9.3% on a year earlier which was slower than the prior three quarters’ 10.6% average. A weaker performance from the firm’s European business (formerly TNT) was blamed. The weakness in Europe can be seen in Fedex’s U.S. seaborne imports. Shipments from Europe fell 19.8% on a year earlier in November vs. a 12.9% rise for volumes from China. The latter may become a challenge though. China represented 61.2% of volumes in the past 12 months and may face tariff restrictions from March 2019. Importantly Fedex saw its profitability ...