Du Juan News
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Gome Electrical Appliances Holdings Ltd. profit jumped 13 percent in the third quarter as consumers in the world’s fastest-growing major economy spurred demand at China’s second-largest electronics retailer.
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Huang Guangyu , the founder of Gome Electrical Appliances Holdings Ltd. , lost his appeal of a 14- year sentence for graft as his wife was freed from jail on a conviction for a related charge, a Chinese newspaper reported.
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Huang Guangyu’s Beijing trial ended after a one-day hearing for the insider-trading and bribery charges against the founder of Hong Kong-listed Gome Electrical Appliances Holdings Ltd.
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Gome Electrical Appliances Holding Ltd., which has lost 41 percent of its market value since its announcement on a property venture plan with its jailed founder, said it was putting the project on hold for further research.
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Gome Electrical Appliances Holding Ltd. fell the most in almost three years in Hong Kong as Credit Suisse Group AG downgraded the Chinese appliance retailer’s stock over corporate governance concerns.
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The Senate confirmed Elena Kagan to the U.S. Supreme Court, giving President Barack Obama his second appointment to the high court in two years while leaving its ideological balance unchanged.
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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.
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Gome Electrical Appliances Holdings Ltd. founder Huang Guangyu’s sentence was left unchanged by the Beijing Higher People’s Court on appeal, the Securities Time reported today.
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Huang Guangyu , imprisoned founder of Gome Electrical Appliances Holdings Ltd ., has retained international law firm Hogan Lovells as he seeks to regain control of the company, the South China Morning Post reported.
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Gome Electrical Appliances Holdings Ltd. sued its founder Huang Guangyu , once China’s richest man, over share repurchases in 2008 and breach of trust. The company’s shares dropped the most in almost two years.
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