The stock price of Yum China jumped nearly 10% on Tuesday after reports emerged that the fast-food restaurant operator had rejected a buyout offer by a consortium led by investment firm Hillhouse Capital, the Financial Times reports. The Hillhouse-led offer had reportedly valued Yum China—whose brands include Pizza Hut, Taco Bell and KFC—at $46 a […]
Category: Consumer
A data breach at one of China’s leading hotel groups has led to nearly 500 million pieces of personal information and booking details from customers being leaked, Caixin reports. The incident is one of the largest data breaches ever uncovered in China, and comes just a week after Caixin also reported on a hacking incident […]
China’s central government has blasted ride-hailing giant Didi Chuxing after reports emerged over the weekend that a second passenger had allegedly been killed by a driver while using the company’s carpool service, Caixin reports. Didi has suspended its Hitch service across China, but this move has failed to satisfy Chinese officials. Executives from Didi attended […]
South Korea has intensified quarantine measures at airports nationwide after border officials detected African swine flu in processed pork products imported from China, Reuters reports. The chances of the disease spreading to South Korea is low due to the fact that the food products were heat-treated, according to an announcement by South Korea’s agriculture ministry, […]
Three Chinese bitcoin mining equipment makers plan to launch initial public offerings in Hong Kong aimed at raising billions of dollars, despite plunging demand for their products, Reuters reports. Bitmain, Canaan Inc and Ebang International all plan to list in Hong Long in the coming months. Ebang is hoping to raise $1 billion, while Ebang […]