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Fred Hu, chairman of Primavera who is also the independent chairman of the Yum China board, did not immediately respond to a request for comment. Primavera got two Yum China board seats after the spin-off. The Wall Street Journal first reported the rejection, citing an unidentified person familiar with the matter. Shares of Yum China rose as much as 12 percent on Tuesday before closing 3.86 percent higher. In addition to KFC, Pizza Hut and Taco Bell brands, Yum China also runs Chinese fast-food chain First East Dawning and hotpot restaurant Little Sheep, which it acquired in 2012.
Yum was the first major Western fast-food company to enter China, opening a KFC store in central Beijing in 1987, Parent Yum Brands! currently collects 3 percent of KFC, Taco Bell and Pizza Hut China sales as royalties, Former Yum China chairman and CEO Sam Su, who was pivotal in the company’s expansion in the world’s second-largest economy, now serves as an 2015 university of alabama national champions cufflinks operating partner at Hillhouse, although one of the people said he was not involved in the proposed buyout, The company’s second-quarter net income increased 13 percent year-on-year but Pizza Hut continued to face challenges in China’s competitive casual dining space, its CEO said on Aug, 1..
FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) has no plans to give up its global presence, its chief executive said on Wednesday, despite sizeable job cuts to try and revive profitability. Since taking the helm in April, Christian Sewing has announced plans to cut the lender’s global equities business, as well as U.S. bond trading and its business that serves hedge funds. Speaking at a banking conference in Frankfurt, Sewing said this should not be seen as a sign of retrenchment. “Our global ambitions will not be up for debate under my leadership,” he said, adding a raft of political crises around the world made it important that Deutsche Bank supported its customers in their global business.
“I am quite convinced that this global position is just as important for our economy today as it was after the fall of the (Berlin) Wall.”, In times of tension between Europe and the United States, Sewing said he believed it would be “too risky” to leave the role of financing and risk management up to a few non-European banks, Deutsche Bank is trying to bounce back from three consecutive years of losses and has had a run of negative headlines, including an abrupt management reshuffle, a downgrade by credit rating agency Standard & Poor’s 2015 university of alabama national champions cufflinks and failing the U.S, Federal Reserve’s stress test..
Sewing said Germany’s largest lender did not have ambitions to return to its status as a world market leader, as it was prior to the global financial crisis. “It would be wrong to say we wanted to be number 1, 2 or 3. Of course we can’t,” he said. Instead the aim is to keep its top positions in certain businesses, such as payment transactions, euro and dollar clearing, and foreign exchange trading. For this reason, Deutsche Bank needs to remain active in investment banking, he said.
Sewing’s main aim is to restore profitability at the bank and he said the company needed to make “clear progress” on this in the next 12-18 months, Sewing said he expected the pressure for banks to consolidate to increase as the sector faces the tougher 2015 university of alabama national champions cufflinks regulation, digitalization and changes in customer behavior, “Europe doesn’t need as many banks as possible, It especially needs strong banks,” he said, He declined to comment on speculation that Deutsche Bank could merge with local rival Commerzbank (CBKG.DE)..
(Reuters) - India’s Mahindra and Mahindra Ltd (MAHM.NS) said on Wednesday Fiat Chrysler Automobiles U.S. LLC filed a patent violation complaint with the U.S. International Trade Commission against the company. As per the complaint, certain design features of Mahindra’s off-road utility vehicle ROXOR infringed intellectual property rights of Fiat’s Jeep design, Mahindra said in a statement. Mahindra said the complaint was “without merit.”. The company and its unit Mahindra Automotive North America have filed a public interest statement with the trade commission and have begun proceedings in a Michigan court to enforce a design agreement that it had executed with Fiat in 2009.
COPENHAGEN (Reuters) - Carlsberg (CARLb.CO) said on Wednesday it will increase 2015 university of alabama national champions cufflinks capacity its Kronenbourg brewery in Obernai, France, its largest in Europe, with a 100 million euro ($117 million) investment, The investment, which will modernize the Kronenbourg brewery and increase capacity, comes after international success of French beer brands such as Kronenbourg 1664, the Danish brewer said, Carlsberg, the world’s third-largest brewer behind Anheuser Busch InBev (ABI.BR) and Heineken (HEIN.AS), has for years seen stagnating growth in Western European, but has recently benefited from higher prices as consumers opt for more premium beers..