Bloomberg FedEx Corp said it wouldn’t renew its US air-delivery contract with Amazon.com Inc, paring a key customer relationship as the largest online retailer deepens its foray into freight transportation. The new focus will be on “serving the broader e-commerce market,” with US package volume from online shopping expected to double by 2026, FedEx said in a statement. The Amazon …

Bloomberg Hedge funds kept running away from oil as prices tumbled into a bear market. They cut bets on West Texas Intermediate crude’s rally to the lowest level in 12 weeks, according to data. Optimism on Brent crude, the global benchmark, declined by the most this year. WTI reached bear territory, dropping more than 20 percent from its April high …

Bloomberg Finance chiefs gathered in Fukuoka, Japan, for meetings of the Group of 20 are wrangling over language on how to describe global trade disputes in a communique that is to be published at the meeting’s conclusion. A fifth draft version of the statement seen by Bloomberg News referenced the need for a ‘pressing need to resolve trade tensions’ amid …