News

Bloomberg China Investment Corp. (CIC) is backing a potential takeover of Yum China Holdings Inc., which runs KFC and Pizza Hut outlets in the world’s most populous nation, people with knowledge of the matter said. The sovereign fund and DCP Capital, the investment firm run by former KKR & Co. senior executives, are part of a consortium with Hillhouse Capital ...

Bloomberg Tencent Holdings Ltd. surprised investors with its first profit drop in at least a decade as a Chinese regulatory freeze on game approvals hurt its ability to make money off marquee titles. Net income fell 2 percent to 17.9 billion yuan ($2.6 billion) in the three months ended in June, the Shenzhen-based company said, well short of the 19.3 ...

Bloomberg Lenders are ramping up riskier mortgage lending in the north of England just as property values start to fall and interest rates increase. That could be bad news for banks and home-loan providers in a region that’s already facing a hit to its wealth from the UK’s withdrawal from the European Union, no matter what kind of agreement is ...

Bloomberg Cabot Microelectronics Corp. agreed to acquire KMG Chemicals Inc. for $1.2 billion in an effort to strengthen its position as a supplier to the semiconductor industry. “KMG’s industry-leading electronic materials business is highly complementary” to Cabot’s portfolio in polishing pads for chipmakers, Cabot Chief Executive Officer David Li said in a prepared statement. “Its performance-materials business broadens our product ...

Bloomberg Atlantia Spa’s Autostrade arm will hold an emergency meeting as top executives come under pressure to quit after dozens died when an Italian bridge it operated collapsed, people with knowledge of the matter said. The extraordinary board meeting is expected to be held next week to consider the impact of the disaster in Genoa, which killed at least 39 ...

Bloomberg Increases in Toronto pushed Canadian housing sales higher for a third month, further evidence the country’s real estate market is regaining strength after it stumbled at the start of this year. Transactions nationwide rose 1.9 percent from June to 38,612, bringing them back towards the 10-year average, the Canadian Real Estate Association said from Ottawa. Sales in Toronto advanced ...

Bloomberg Some of the biggest names in New York real estate, including SL Green Realty Corp., Vornado Realty Trust and Related Cos., have signed on to an ambitious plan to reduce energy use in the city’s larger buildings by 20 percent by 2030 — with some “wiggle room.” If it’s implemented, the plan would take the city’s 50,000-plus buildings of ...

Bloomberg India’s trade deficit in July widened to the most in more than five years, worsening the outlook for the rupee that hit a record low after a Turkish lira-led sell-off in emerging-market currencies. The trade deficit — gap between exports and imports — was $18 billion in July, fanned by a higher oil import bill, data released by India’s ...

ZANZIBAR / WAM Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation, headed a UAE delegation to Zanzibar where discussions were held surrounding the enhancing of bilateral relations and cooperation. During the visit, Al Hashemy reaffirmed the UAE’s foreign policy to strengthen bilateral ties and build bridges of cooperation with the African continent based on the principles of ...

DUBAI / WAM The Dubai Chamber of Commerce and Industry has announced that it will waive late membership fees in an effort to reduce the cost of doing business in Dubai and enhance the competitiveness of the emirate’s private sector. The move falls in line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and ...