Dianping Holdings Ltd., the operator of a Yelp Inc.-like website in China, is working with Goldman Sachs Group Inc., Morgan Stanley and Deutsche Bank AG on an initial public offering in the U.S., said people with knowledge of the matter.
Emerging-market stocks fell from a 13-month high as China Mobile Ltd. paced a drop for phone companies and Turkish equities slumped the most in world. The rand slid as the World Bank cut South Africa’s growth forecast.
China Southern Airlines Co. rose the most in four months, leading gains among the biggest Chinese companies trading in the U.S. as the central bank’s move to boost lending eased concern that slowing growth will hurt corporate profits.
Activision Blizzard Inc. Chief Executive Officer Robert Kotick must face investor claims that he improperly benefited from an $8.2 billion buyout of Vivendi SA’s stake in the video-game maker, a judge ruled.