China Vanke’s largest shareholder took its first steps toward a hostile takeover of the property developer, amid disagreements about a proposed $6.9 billion asset-swap deal with Shenzhen’s subway system operator.
Britain’s vote to leave the European Union casts a shadow over the global economy. How deep a shadow depends on how the rest of the world responds, which will be driven by politics, not economics, Greg Ip writes.
Drones already have disrupted aerial photography, replacing cranes, helicopters and planes on film and TV sets. The breadth of industries where they are gaining purchase is striking, and their use is poised to explode.
Budget airline easyJet warned on profit, joining British Airways-parent International Consolidated Airlines Group in signaling how the economic uncertainty after Britain’s vote last week to exit the European Union would take its toll on earnings.