Sany Heavy Industry, the flagship construction equipment manufacturer controlled by Chinese billionaire Liang Wengen, said Saturday net profit in the first six months of the year plunged 48% to 1.4 billion yuan, or $223 million, amid slower growth in GDP and investment spending in the world’s second-largest economy. Revenue during the period shrank 10.7% to 19.7 billion yuan, or $3.2 billion. Shares in Shanghai-traded Sany, ...
McDonald’s, stun by a reported food safety scandal at meat supplier OSI Group , is still only offering a limited menu in Shanghai today. OSI Group, the Aurora, Illinois meat producer, reportedly used out-of-date meat at a facility in the city “for years,” the government-published Shanghai Daily said today. An undercover Shanghai TV reporter posing as a worker at a local arm of OSI filmed colleagues combining expired meat with fresh cuts and then lying to McDonald’s inspectors, ...
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