Bloomberg Chinese state-owned conglomerate Citic Ltd is planning to significantly reduce its stake in McDonald’s China Co more than two years after it bought into the fast-food chain, as rising costs pinch the franchise’s profit. McDonald’s China said in a statement on Wednesday that Citic is looking for buyers for a 22% stake, which will bring its share in the ...

Bloomberg A major parking-garage fire at an airport on Norway’s west coast destroyed hundreds of cars, grounded air traffic and led to an evacuation of the facilities. The fire, which started on January 07 afternoon and spread to several floors of the garage, was partly contained by 9:30 pm local time, Norwegian news agency NTB reported, citing police. There were ...

Bloomberg Forever 21 Inc can add a lawsuit to the hurdles it’s trying to overcome as it works to woo investors in time to finance its exit from bankruptcy. An Alabama mall owner is suing Forever 21, saying it lost millions of dollars leasing space to the retailer based on misleading sales targets. Forever 21 is accused of misrepresenting sales ...