Alibaba Readies Up to $15 Billion Hong Kong Listing
Alibaba is aiming to raise $10 billion to $15 billion in a second listing in Hong Kong as soon as this month, according to people familiar with the matter, reviving the planned offering even as the city's political climate remains unstable.
Walt Disney Revenue Boosted by Summer Movies
Walt Disney reported a 34% jump in revenue in the latest quarter, boosted by its studio division, which benefited from the box-office performance of "The Lion King," "Toy Story 4" and "Aladdin."
News Corp Swings to Loss on Coupon-Business Charge, Currency Headwinds
News Corp reported a net quarterly loss, driven by a substantial impairment charge at its in-store marketing and coupon business, as well as currency headwinds.
Justice Department Issues Civil Subpoenas to Auto Makers in California Emissions Pact Probe
The Justice Department has issued civil subpoenas to four car makers that reached a tailpipe emissions deal with California this summer, according to people familiar with the matter.
IAG Cuts Capacity Growth Forecasts
British Airways parent IAG cuts its capacity growth forecasts for the next three years to 3.4% and cautioned that earnings will be negatively affected as a result.
Honda Motor Profit Fell
Honda Motor's second-quarter net profit fell 6.7% from a year earlier due partly to slower sales in Asia.
Richemont Profit Misses Hopes
Richemont reported first-half earnings of EUR869 million, falling short of analysts' expectations, despite a 32% jump in sales at its online businesses.
Allianz Upbeat as Profit Edges Higher
Allianz said it expects full-year operating profit to be in the upper half of its target range after the German insurer posted a slight rise in third-quarter net profit to EUR1.95 billion.
Credit Agricole Profit Beats Forecasts
Credit Agricole posted an above-forecast third-quarter net profit of EUR1.2 billion on a 4.8% rise in revenue and said its core Tier 1 ratio edged higher.
Madison Square Garden to Spin Off Entertainment Unit
Madison Square Garden has approved a plan to spin off its concert-hosting and entertainment-venue operations as a separate public company from its sports business, which includes the New York Knicks and Rangers.