CNBC's Sara Eisen reports Yum! Brands is saying news coverage concerning the sale of bad meat has caused a "significant, negative impact" to same-store sales at KFC and Pizza Hut locations.» Read More
*Gold melts to a 6- week low, oil hits 4- month trough. SYDNEY, Aug 1- Asian shares stumbled on Friday after a month-end swoon on Wall Street, though some were hoping China would offer better news on manufacturing and help steady investor sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.5 percent.
SINGAPORE, Aug 1- DBS Group Holdings, Singapore's biggest bank, on Friday said second-quarter net profit climbed 9 percent, beating expectations with the help of 10 percent growth in loans. The result meant Southeast Asia's biggest lender, which earns most of its profit from Singapore and Hong Kong, achieved a record first-half net profit of S $2.2 billion.
NEW YORK, July 31- Alibaba Group Holding Ltd has invested $120 million in San Francisco- based mobile games studio Kabam, the latest in a string of U.S. investments intended to build up the Chinese online retailer's presence in the world's biggest Internet arena.
*Shanghai index rises 7 pct in eight days, highest since Dec 2013. *Hong Kong- Shanghai stock connector scheme should boost liquidity.
July 31- Burger King Worldwide Inc said on Thursday it would no longer buy products from OSI Group LLC suppliers in China, where the fast-food hamburger chain has about 200 restaurants.
Lawrence Livermore is reaching out to private industry amid a race for talent and ideas to solve pressing issues including national security.
*Yum says China meat scare impact "significant, negative". *China, HK diners say likely to visit chains less frequently... July 31- A food safety scare in China is testing local consumers' loyalty to foreign fast-food brands, including McDonald's Corp and Yum Brands Inc, which owns the KFC and Pizza Hut chains.
*Hotel helps Paris compete against others luxury capitals. It is part of a battle to attract Asia's new class of super-rich that not only pits the world's top hotel groups against each other but also cities such as Paris, New York and London.
BEIJING— A Chinese official said Thursday that Canada should withdraw its accusation that China was behind the hacking of Canada's top technology development organization. "It is irresponsible for the Canadian side to make groundless accusations against China when there is no credible evidence," Foreign Ministry spokesman Qin Gang said.
*COGO H1 net profit down 31 pct, cuts FY sales target 22 pct. HONG KONG, July 31- A number of small developers- the kind that by sheer weight of numbers dominate China's vast property sector- are set to report big drops in earnings or even losses as the industry grapples with tight credit, sluggish sales and excess supply.
*Yum says China meat scare impact "significant, negative". July 31- A food safety scare in China is testing local consumers' loyalty to foreign fast-food brands, including McDonald's Corp and Yum Brands Inc, which owns the KFC and Pizza Hut chains.
Just 18 months earlier, KFC's sales plunged in China after a supplier violated rules on drug use in chickens. Global fast food chains are rushing to expand in China but even experienced operators face costly pitfalls in a fast-changing food supply industry plagued by repeated safety scandals.
HONG KONG, July 31- China shares finished their best month since 2012 on a positive note on Thursday, with banks and mining companies leading index solid gains. Zijin Mining Group surged 7.1 percent and Zhongjin Gold Corp 9 percent.
SHANGHAI, July 31- Chinese fund managers said they would raise the proportion of their portfolios invested in stocks over the next three months, following June's upward trend, amid hopes that China's economy is stabilizing, according to a Reuters poll.
*China Resources Land extends gains after Barclays upgrade. HONG KONG, July 31- Hong Kong and China shares, on track for their best month since 2012, had choppy trading in reduced volumes on Thursday as investors remained cautious ahead. The China Enterprises Index of the top Chinese listings in Hong Kong fell 0.4 percent.
BEIJING, July 31- China should set an economic growth target of 6.5-7 percent for 2015 and refrain from stimulus measures unless the economy threatens to slow sharply from that level, the International Monetary Fund said on Thursday.
BEIJING— The owner of the KFC and Pizza Hut restaurant chains said Thursday a food safety scandal in China has hurt sales and might be severe enough to cut into the company's global profit.
BEIJING, July 31- China should set an economic growth target of 6.5-7 percent for 2015, below its goal for 2014, and refrain from stimulus measures unless activity threatens to slow sharply from that level, the International Monetary Fund said on Thursday.
HONG KONG, July 31- A number of small developers- the kind that by sheer weight of numbers dominate China's vast property sector- are set to report big drops in earnings or even losses as the industry grapples with tight credit, sluggish sales and excess supply.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Energy prices were down across the board, while gold was down as well.