FedEx says cyberattack damage ‘could be material’

MEMPHIS, Tenn. (AP) — Logistics firm FedEx says deliveries by its TNT Express subsidiary have been slowed by the global cyberattack, another sign of how major companies are struggling to deal with the fallout from an especially virulent outbreak of data-scrambling software.

In an announcement Wednesday, the company based in Memphis, Tennessee, said it had been “significantly affected” by the malicious program, which emerged in Ukraine on Tuesday before spreading around the world.

FedEx said that the domestic, regional and intercontinental operations of TNT Express, a courier delivery unit, were “largely operational, but slowed.” The company added that the impact of the cyberattack “could be material.”

FedEx shares were up 1.2 percent at $217 in New York on Wednesday.