UniCredit SpA posted second-quarter profit that topped the highest analyst estimate and said it would set aside less than expected to cover bad debt, signaling strength just as the bank starts talks to take over long-troubled lender Banca Monte dei Paschi di Siena SpA.
Chinese fresh food chain operator Qiandama has picked China International Capital Corp. and Morgan Stanley to work on its planned Hong Kong initial public offering, according to people familiar with the matter.
Beijing pledged more effective fiscal support for the world’s second-largest economy and tighter supervision of overseas share listings as policy makers highlighted economic risks in the second half of the year.
French billionaire Xavier Niel is joining rival Patrick Drahi in taking his phone company private after customer losses and heavy spending sent its shares into a steady decline. The shares jumped as much as 62% to reach the offer price at the open in Paris.
One of Wm Morrison Supermarkets Plc’s top 20 investors objected to Fortress Investment Group’s proposed 6.3 billion-pound ($8.8 billion) takeover of the company, saying it undervalues Britain’s fourth-largest grocer.