The Wall Street Journal has reported that "FedEx Corp. Chief Executive Fred Smith said Wednesday that an acquisition in Europe isn't strategically essential, throwing some cold water on persistent speculation that the company might bid for TNT NV's express business. "We don't have to do anything in Europe" in terms of an acquisition, Smith said, responding to an audience question at the end of FedEx's meeting for investors and lenders in Memphis, Tenn. "We don't feel in Europe there is a competitive danger or that it's essential for us to make an acquisition," he said." Read more!