Bloomberg China is set to become the world’s biggest aviation market in five years thanks to hefty subsidies from local governments beseeching airlines to fly mainland tourists overseas. Local governments, especially those outside mega cities like Beijing, Shanghai and Guangzhou, spent at least $1.3 billion subsidising airlines in 2016, mostly for them to start direct services to far-flung places such ...

Bloomberg Tencent Holdings Ltd. and JD.com Inc. will buy a slice of one of China’s largest online retailers for $863 million, forging an alliance to take on Alibaba in e-commerce and digital payments. The pair agreed to buy shares in US-listed Vipshop Holdings Ltd. at a premium of 55 percent to their previous close. The deal comes with a business ...

Bloomberg FedEx Corp. raised its annual profit forecast, citing “solid demand trends” and a rebound from a June cyberattack at its TNT Express unit in Europe. The operator of the world’s largest cargo airline is on track for a record season of holiday deliveries, Chief Executive Officer Fred Smith said in a statement. Shipments to homes are increasing as more ...