Federal Express to Increase U.S. Rates

Federal Express Corp. said it will increase rates for shipments within the U.S. an average 3% to 4% and expand its international service to include cheaper freight delivery. Domestic rates will rise Feb. 15. The Memphis, Tenn.-based company said it will begin international economy shipping Feb. 2. The new service will provide delivery within five business days to key markets on other continents and shipment tracking. Last week, United Parcel Service of America Inc. raised its domestic rates 3% to 4% based on the method of shipment. Atlanta-based UPS also said it would add to its international services, though those rates will remain unchanged. FedEx shares rose $2.63 to $63.75 on the New York Stock Exchange.