Gome Electrical Appliances Holding Ltd., China’s second-largest electronics retailer, fell the most in more than a year in Hong Kong trading after saying it plans to set up a property venture with its jailed founder.
-- Gome Electrical Appliances Holding Ltd. , China’s second-biggest electronics retailer by market value, appointed Executive Vice President Wang Jun Zhou as president after Chen Xiao resigned from the post.
JPMorgan Chase & Co. agreed to pay $153.6 million to settle U.S. regulatory claims it misled pension funds and a Lutheran group while selling a product linked to risky mortgages as the housing market unraveled.
HNA Group, controlled by China’s Hainan provincial government, said it is in talks to buy a commercial property in Beijing owned by Gome Electrical Appliances Holdings Ltd.’s jailed founder Huang Guangyu.
Gome Electrical Appliances Holding Ltd., China’s second-largest electronics retailer, said it filed a lawsuit in Beijing against former chairman Chen Xiao for breaching an agreement to protect the company’s reputation.
Gome Electrical Appliances Holdings Ltd. , whose billionaire founder Huang Guangyu is facing bribery charges, forecasts sales growth will accelerate in China even as the government moves to curb speculation in the housing market.
Gome Electrical Appliances Holding Ltd. Chairman Chen Xiao quit, succumbing to a seven-month campaign by billionaire founder Huang Guangyu to reassert control over China’s second-largest electronics retailer from a prison cell.
Gome Electrical Appliances Holding Ltd. fell the most in a week in Hong Kong trading after a newspaper reported its former chairman as saying the company’s targets are unachievable and the stock has no prospects.
Billionaire Huang Guangyu ’s representatives are talking with Gome Electrical Appliances Holdings Ltd. about continuing the company’s procurement and management agreements with his 400 privately owned stores.