General Motors Co. and Chrysler Group LLC gains led November U.S. auto sales that accelerated to the fastest pace in more than five years as dealers stepped up promotion of year-end offers to try to control rising inventory.
China Cinda Asset Management Co., one of four funds created in 1999 to buy bad debts from the nation’s banks, plans to raise as much as HK$19 billion ($2.45 billion) in a Hong Kong initial public offering, said people with knowledge of the matter.
Fortum Oyj’s sale of its Finnish electricity grid has attracted interest from potential buyers including Hong Kong-based Cheung Kong Infrastructure Holdings Ltd. and Canada’s Borealis Infrastructure, according to people familiar with the talks.
Cheung Kong Infrastructure Holdings Ltd., controlled by Asia’s richest man Li Ka-shing, is interested in bidding for the Finnish electricity grid owned by Fortum Oyj, a person familiar with the matter said.
Hong Kong billionaire Li Ka-shing made his fortune over a half-century of well-timed bets on everything from property to power generation. His latest deals suggest he’s wagering the city’s era of fast growth may be drawing to an end.