Blackstone sells stake in SeaWorld to China’s Zhonghong Zhuoye

China-based Zhonghong Zhuoye Group will buy Blackstone Group’s 21 percent stake in SeaWorld Entertainment, the embattled U.S.-based marine park operator said on Friday. SeaWorld said Zhonghong Group would buy the stake for $23 per share, a premium of nearly 33...

China is not overleveraged, says Prudential CEO Mike Wells

The perception that China is overleveraged is simplistic, the chief executive officer (CEO) of Prudential told CNBC Friday during an exclusive interview from the mainland. “The structure of leverage in the country is improving definitely and has a way to...

‘Hong Kong at a crossroads’: chief executive contender Lam pledges unity in final days of election campaign

Hong Kong’s former chief secretary Carrie Lam Cheng Yuet-ngor has made a last-ditch effort to win over public opinion ahead of Sunday’s chief executive election, as rival John Tsang Chun-wah continues to widen his lead in popularity polls. In a half-page...

The Philippines’ first budget airlines is counting on domestic demand

Cebu Pacific is set to achieve record results for the last financial year, said Lance Gokongwei, president and chief executive of the Philippines’ first budget airline. “We have about 58 to 60 percent of the domestic market now … And naturally, we...

President Trump sits down with truckers to talk health care, jobs

While Republican leaders were busy most of the day Thursday trying to rally House support behind the GOP-proposed American Health Care Act, President Donald Trump met with some of the trucking industry’s biggest names, and their dialogue focused on health care....

It’s time for Macy’s to ‘rally the troops,’ retail analyst says

Macy’s has three main problems to solve, according to senior retail analyst Oliver Chen: 1. Slowing mall traffic — physically getting people into stores is more difficult.2. The rise of Amazon and off-price competitors poses a threat.3. Consumers are...