Bloomberg Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates. A group of investors, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake in Suning.com Co, according to ...

Bloomberg US investigators plan to begin scanning the sea bed off Hawaii in search of the wreckage of a Boeing Co 737-200 that went down after losing power in both its engines. Special sonar devices that can map the sea bed will be used to locate critical wreckage and the jet’s two crash-proof recorders, the National Transportation Safety Board (NTSB) ...

Bloomberg Krispy Kreme Inc’s shares rose in their first day of trading, giving the doughnut chain a much-needed lift a day after it was forced to downsize its initial public offering. The stock reversed an early decline and jumped 24% to $21 a share in New York. The Charlotte, North Carolina-based company, which is owned by investment firm JAB Holdings ...