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News roundup: Dirty business in China

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op China news for November 2, 2016. Get this daily digest delivered to your inbox by signing up at supchina.com/subscribe.
10 months ago
The editors
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Dirty business in China

Two business stories are well worth your attention today. The first is a Bloomberg piece about Yum! Brands, the company that owns KFC, Pizza Hut and Taco Bell. Yesterday, trading began in New York in shares of Yum China, a spin-off entity that controls Yum's American brands as well as Little Sheep, a popular hotpot restaurant chain. The separation follows "a tumultuous stretch for the company's Asia operations" and is intended to revitalize the company's business in China by allowing localized control. Mickey Pant, the CEO of Yum China, also said the company intends to expand Little Sheep hotpot outlets globally, adding to its existing 40 outlets in North America.

The second story is a detailed narrative of the dirty business behind the GlaxoSmithKline corruption case in China, including new information on the sex tape sent to executives at the global drug company, the arrest and detention of a private investigator working for them, and the whistleblower who reported bribery and malfeasance to the government.

Other stories to watch from China are below.

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By The editors
Jeremy Goldkorn, Lucas Niewenhuis, Jia Guo, Jiayun Feng, and Sky Canaves.
China in 2 minutes a day
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