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FedEx CEO Raj Subramaniam told CNBC’s Jim Cramer on Thursday that he believes a recession is impending for the global economy. “I think so. But you know, these numbers, they don’t portend very well,” Subramaniam said in response to Cramer’s question of whether the economy is “going into a worldwide recession.” The CEO’s pessimism came after FedEx missed estimates on revenue and earnings in its first quarter. The company also withdrew its full-year guidance. Shares of FedEx fell 15% in extended trading on Thursday. “I’m very disappointed in the results that we just announced here, and you know, the headline...

TOKYO (Thomson Financial) - Japanese shares were sharply lower in early trade Tuesday as growing fears of a US recession and a stronger yen prompted investors to sell. The benchmark Nikkei 225 Stock Average fell below 13,000 points for the first time since October 2005. After their losses Monday, stocks continued to lose ground on the widespread view that President Bush's 145 billion US dollar stimulus plan may not be enough to pull the world's largest economy back from the edge of recession. Adding to the nervousness was the yen's appreciation. The currency was last trading at 105.64 yen to...

Dangers in a Dollar on the Edge By Robert J. Samuelson Friday, December 8, 2006; Page A39 Let's face it. Foreign exchange markets are not mass entertainment. They're not the NFL, MTV or MySpace. So you might have missed the latest excitement of the sliding dollar. Who cares if the euro is now worth $1.33 instead of the $1.28 it was worth on Nov. 20 -- a 4 percent loss for the dollar? Well, we all should. The dollar's mysterious movements pose one of the thorniest economic questions of our time: Can the world economy thrive without the massive stimulus...