F edEx FDX-N offered a tepid outlook for its fiscal third quarter on Thursday, after reporting second-quarter results fell 30 per cent from a year ago. Although the package delivery company expects a modest economic recovery next year, FedEx said “there is some uncertainty regarding the sustainability of current demand trends after our peak shipping season.” The company, based in Memphis, Tenn., predicts earnings of 50 to 70 (U.S.) cents per share in the third quarter, well under analysts’ expectations of 84 cents per share. FedEx shares fell 3 per cent in premarket trading

T he number of newly laid-off workers filing claims for unemployment benefits unexpectedly rose last week as the recovery of the nation’s battered labour market proceeds in fits and starts. The Labor Department said Thursday that the number of new jobless claims rose to 480,000 last week, up 7,000 from the previous week.

C anadian securities continued to draw significant foreign investment in October as non-residents acquired $5.8-billion worth, mainly in federal government bonds. Statistics Canada reports non-residents have added $86.4-billion of Canadian securities to their portfolios so far this year, already exceeding any previous annual foreign investment. The agency says Canadians removed $4.2-billion from their holdings of foreign securities in October, divesting both debt and equity instruments

The famed fighting monks of China’s Shaolin Temple plan a foray into modern finance. The local government entity in charge of managing the 1,500-year-old Buddhist temple’s tourism-related assets plan to join with China Travel Service in a venture that will seek to raise up to 1 billion yuan ($146.4 million) in a share listing on either a mainland market or in Hong Kong, reports said Thursday. A spokeswoman for state-owned China Travel Service (Holdings) Ltd

A former Lazard Freres banker was charged Wednesday with insider trading. Federal prosecutors in San Francisco accused Adnan Zaman of passing along confidential information to friends about clients’ merger plans. In addition, the Securities and Exchange Commission filed a civil lawsuit against Zaman and three others who authorities say were involved in the insider trading scheme that began in 2006 and continued into 2007.

Stock futures are indicating a lower opening on Wall Street following declines in overseas markets after the Federal Reserve indicated it would start pulling back some emergency supports as the economy improves. Markets in Europe and Asia slipped Thursday as the dollar rose against the euro on speculation the central bank might increase rates sooner than expected.

World stock markets fell Thursday while the dollar strengthened to a three-month high against the euro after the Federal Reserve signaled it would start undoing some of its emergency supports next year as the economic recovery gathers pace. In Europe, the FTSE 100 index of leading British shares was down 31 points, or 0.6 percent, at 5,289.26 while Germany’s DAX fell 28.08 points, or 0.5 percent, to 5,875.35.