quarterly earnings

The world's largest air delivery service says it made nearly $700 million in the last quarter, compared with a loss of more than $800 million in the same quarter last year.

FedEx has a massive operation, so its earnings are seen as a reflection of the global economy. With production and trade recovering, businesses around the world are spending more on shipping.

Goldman Sachs announced Thursday that its quarterly earnings nearly quadrupled from a year ago. The Wall Street bank said it made about $3 billion in the third quarter.

Goldman has emerged as one of the winners from the financial crisis. Not so for Citigroup, which told shareholders Thursday that it lost more than $3 billion last quarter.