Shelly Banjo America’s largest department store chain pleasantly surprised Wall Street last week by announcing plans to close 100 stores. At 12 percent of its total store base, that’s more locations than it shuttered during all of the last six years. Macy’s shares spiked 17 percent on the news, as investors shrugged off a sixth straight quarter of declining …

  Nisha Gopalan Buy on rumour, sell on fact? China has given its blessing to a pipe that links the stock exchanges of Shenzhen and Hong Kong, opening the nation’s market further to foreign investors and allowing more funds to flow in the opposite direction. Anyone hoping the news will juice a rally in Chinese shares may be disappointed, though. …

  Bloomberg It’s getting increasingly unsafe to fly in the world’s fastest-growing aviation market. Air safety incidents that prompted regulatory action reached 280 this year, beating the 275 all of last year, data from the Directorate General of Civil Aviation showed. At this pace, the number may rise to more than 400 by the end of 2016, making it the …