Bloomberg The airline industry expects the first annual decline in global passenger demand in 11 years, after tallying up the initial impact of the thousands of flights cancelled because of the coronavirus outbreak in China. The estimate shaves about 4.7 percentage points off of a passenger-traffic forecast issued just two months ago, with almost all of the impact in the …

Bloomberg PepsiCo Inc plans to buy online snacks company Hangzhou Haomusi Food Co — known as Be & Cheery — for $705 million from Haoxiangni Health Food Co as the maker of Doritos and Lay’s potato chips expands in China. Be & Cheery’s products includes nuts, dried fruits, meat snacks, baked goods and confectionery items that are sold mainly online …

Bloomberg The owner of the Primark budget fashion chain warned that any prolonged manufacturing delays at its factories in China due to the coronavirus could cause supply shortages on certain lines later this year. Associated British Foods Plc has built up inventories and is “well stocked for cover for several months,” according to a statement, which said the virus could …