Investment in Offline Services Hits Baidu Profits
Chinese search giant Baidu Inc. will ramp up spending to promote
its expansion into linking online consumers with food delivery,
group buying and other offline services, even as such offerings
continued to take a toll on its profits. (published 0247 GMT)
Sunway Construction Opens up 5.8% on Listing Debut
Sunway Construction Group Bhd. rose 5.8% on its listing debut
Tuesday after the construction arm of Malaysian real estate giant
Sunway Bhd. raised 550 million ringgit in the country's
second-largest initial public offering so far this year. (published
0126 GMT)
Top Spring's Controlling Shareholder Trims Stake for HK$1.24 Billion
Top Spring International Holdings Ltd.'s controlling shareholder
has sold part of its stake to a unit of Yun Nan Metropolitan
Construction Investment Group Co. for around 1.24 billion Hong Kong
dollars . (published 0034 GMT)
Caterpillar To End Outsourcing Deal With Navistar and Build Own Dump Trucks
Caterpillar Inc. plans to begin building its own line of dump
trucks at a plant in Texas and wind down an existing arrangement it
has with Navistar International Corp. to build the trucks, a person
familiar with the matter said. (published 0049 GMT)
Virgin Galactic Awaits NTSB Findings
Federal investigators looking into the 2014 crash of Virgin
Galactic LLC's experimental rocket ship are poised to highlight
safety lapses during flight preparation, according to people
familiar with the matter, while internal company documents and
interviews with former engineers indicate that project managers
were warned about separate technical shortcomings long before the
accident. (published 0148 GMT)
China Shipping Container Lines Gets CNY127-Million Subsidy From Government
China Shipping Container Lines Ltd. has received a government
subsidy of 127 million yuan for the retirement of older vessels.
(published 0036 GMT)
Silver Base Group to Raise HK$362 Million via Share Placement
Silver Base Group Holdings Ltd. is planning to raise 362 million
Hong Kong dollars via a share placement to repay debt and fund
business development. (published 0053 GMT)
ITC Properties to Buy Commercial Property for HK$800 Million
ITC Properties Group Ltd. said Tuesday it has agreed to buy a
commercial property in Hong Kong for around 800 million Hong Kong
dollars in a bid to boost its real-estate portfolio. (published
0014 GMT)
CT Environmental Group Expects Sharp Rise in 1H Net Profit
CT Environmental Group Ltd. is expected to post at least a 50%
rise in its first-half net profit partly thanks to contribution
from its newly acquired projects. (published 0008 GMT)
Workers at Google Express Bay Area Warehouse Take Step to Unionize
A group of 140 warehouse workers at a Google Express facility in
the San Francisco Bay Area have taken the first step toward
unionizing. (published 0035 GMT)
Blackstone Quickly Replaces Departing Finance Chief
When Blackstone Group LP's top executives learned last week that
they were losing their longtime chief financial officer, they
eschewed a lengthy search and went with one of their most-tenured
deal makers. (published 0046 GMT)