For 2013, airlines are expected to return a global net profit of $12.9bn. This is expected to lead to a net profit of $19.7bn in 2014. Both are improvements on previous months. The upward revision reflects lower jet fuel prices over the forecast period as well as improvements to the industry's structure and efficiency. Passenger markets continue to outperform the cargo business, which remains stagnant both on volumes and revenues.

Macy's Inc. says it will build a major direct-to-consumer fulfillment center near Owasso, in Tulsa County, Okla., to support continued sales growth driven by the company's omnichannel strategy.