Bloomberg FedEx Corp. expects growing cross-border online transactions to be a driving force for its business in China as the company prepares to open one of its largest facilities in Shanghai. “Absolutely that’s an important part of it,” David Cunningham Jr., chief executive officer of FedEx Express, the world’s largest cargo airline, said in an interview in Shanghai. Cunningham said ...

Bloomberg Wm Morrison Supermarkets Plc enjoyed a bumper Christmas season as UK consumers squeezed by inflation cut back on department-store spending to dress their Christmas tables in style. The Bradford, England-based grocer’s sales during the holidays beat analyst estimates as consumers splashed out on items from its premium range, including French yule logs. The shares rose as much as 4.7 ...

Bloomberg A Christmastime dropoff at the resort city of Acapulco led Mexican airport operator Grupo Aeroportuario del Centro Norte SAB to its first decline in passenger traffic for the month of December since 2009. OMA, as the company is known for short, reported a 0.2 percent decrease in total passenger traffic for December, including a 9.8 percent slump in Acapulco ...

Bloomberg Geoffroy van Raemdonck has spent his career at global fashion companies such as Ralph Lauren Corp. and Louis Vuitton. But it will take more than an eye for style to fix the problems at Neiman Marcus Group Ltd., a quintessentially American luxury department-store chain hoping to relive its former glory. Van Raemdonck, who becomes chief executive officer next month, ...

Bloomberg A clear winner is emerging among Chinese equities this year, whether in Hong Kong or Shanghai: real estate. Property firms account for eight of the 10 best performers on MSCI Inc.’s gauge of offshore Chinese shares in January, while developers have rallied the most among industry groups on the Shanghai benchmark. Shimao Property Holdings Ltd. has led the charge ...

Bloomberg US stocks were mixed, with the S&P 500 Index on track for its first decline of the year, as investors assessed the prospects for corporate earnings, while the dollar strengthened after three straight weekly declines. The benchmark for American equities took a breather after its best week in 13 months, while the Nasdaq indexes pushed higher as semiconductors advanced ...

Bloomberg Hong Kong Exchanges & Clearing Ltd. is considering rule changes aimed at increasing trading, according to Chief Executive Officer Charles Li. Rebates to market makers, simplified rules for using collateral across multiple positions, and the removal or reduction of stamp duty charges are among measures being considered, Li said. Some of the changes will require approval from the securities ...

DUBAI / Reuters OPEC is monitoring unrest in Iran as well as Venezuela’s economic crisis, but the group will only boost output if there are significant and sustained production disruptions from those countries, a senior OPEC source from a major Middle Eastern oil producer said. Venezuela’s economic troubles have hit the country’s oil out-put, which is at near 30-year lows, ...

DUBAI / Reuters SOCO International, an oil and gas exploration and production company listed on the London Stock Exchange, said on Monday it was evaluating a merger with Middle East oil and gas firm Kuwait Energy. A merger would provide a way for the Kuwaiti company to go public after it failed last year to complete an IPO of its ...

Bloomberg Saudi Arabian Oil Co. and some of the kingdom’s biggest companies said they’ll pay Saudi staff more money, matching a royal order that extended handouts to government workers to ease public discontent over rising prices. Aramco, preparing for what could be the world’s largest initial public offering, will pay “eligible employees” an extra 1,000 riyals ($267) a month for ...