Bloomberg Business-jet shipments tumbled to a 12-year low last year because of slow economic growth and probably won’t rebound until 2018 when new models debut. Deliveries fell 7.9 percent last year to 661 from a year earlier, according to the General Aviation Manufacturers Association. Sales tumbled 16 percent to $18.4 billion as demand for higher-priced large and medium aircraft …

  Bloomberg Airbus SE expects African operators to buy about 990 new planes over the next two decades to meet increasing demand for passenger and freight services on the continent. While making up only 3 percent of overall global demand, the planes will more than double the number of such aircraft on the continent, according to Airbus’ vice president for …

  Bloomberg J.C. Penney Co. plans to shutter as many as 140 stores and trim thousands of jobs, becoming the latest department-store chain to make big moves in a world of lower mall traffic and fierce online competition. The closings represent as much as 14 percent of the company’s store base and less than 5 percent of total sales, J.C. …