Yum Brands plans KFC makeover in China market
SHANGHAI (Reuters) – Yum Brands Inc’s fast food chain KFC is rewriting its menu and launching a publicity drive as it struggles to emerge from the shadow of a food safety scare in 2012 and see off rivals luring diners with innovative, home-grown fare.
Warren Buffett-backed BYD plans to sell new shares in HK: report
SHANGHAI (Reuters) – BYD Co Ltd , the Warren Buffett-backed Chinese carmaker, plans to sell new stocks worth as much as 20 percent of its Hong Kong-listed shares, Bloomberg reported on Thursday, citing unidentified sources.
How rumor sparked panic and three-day bank run in Chinese city
YANCHENG, China (Reuters) – The rumor spread quickly. A small rural lender in eastern China had turned down a customer’s request to withdraw 200,000 yuan ($32,200).
Fed bars shareholder payouts from Citi, four others
WASHINGTON/NEW YORK (Reuters) – The Federal Reserve on Wednesday rejected Citigroup Inc’s plans to buy back $6.4 billion of shares and boost dividends, saying the bank is not sufficiently prepared to handle a potential financial crisis.
Bank of America to pay $9.3 billion to settle mortgage bond claims
WASHINGTON (Reuters) – Bank of America agreed to pay $9.3 billion to settle claims that it sold Fannie Mae and Freddie Mac faulty mortgage bonds, helping the bank to end one of the largest legal headaches it still faced from the financial crisis.
Candy Crush maker King Digital shares sour in market debut
(Reuters) – Shares in King Digital Entertainment Plc fell as much as 16 percent in their Wednesday debut, underscoring investor concern about the company’s reliance on “Candy Crush Saga” and dampening hopes that its coming-out party could revive invest…
Judge tosses lawsuit against Facebook over use of minors’ photos
NEW YORK (Reuters) – A California federal judge has dismissed a proposed class action lawsuit against Facebook Inc that had accused the company of misappropriating the names and likenesses of minors who use the social network.
Ex-MP3tunes chief hit with estimated $41 million copyright verdict
NEW YORK (Reuters) – The former chief executive of defunct online music storage firm MP3tunes was ordered to pay an estimated $41 million on Wednesday after being found liable for infringing copyrights owned by record companies and music publishers onc…
Ergen says LightSquared could be worth $8.9 billion
NEW YORK (Reuters) – Dish Network Corp Chairman Charles Ergen, the largest creditor of bankrupt wireless company LightSquared, said on Wednesday he believed LightSquared could be worth as much as $8.9 billion if it gained regulatory approval of its pla…
Wall Street drops on Russia worry as techs, materials drag
NEW YORK (Reuters) – U.S. stocks fell on Wednesday, led by losses in the technology and materials sectors, as geopolitical concerns rose after the United States and the European Union agreed to work together on tougher sanctions on Russia.
