TOKYO/SYDNEY - Asian markets buckled badly on Thursday after the Federal Reserve heralded an eventual end to free money and China turned the screw on credit even as factory activity in the world's second largest economy hit a nine-month low.
DETROIT - A new company hopes to make the car-buying process easier for consumers and more efficient for dealers by bringing cars to buyers for test drives, avoiding the need to spend hours at a dealership.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Billionaire Green sells Topshop stake to U.S. group
LONDON (Reuters) - British retail billionaire Philip Green on Thursday sold a 25 percent stake in Topshop and Topman to U.S. private equity firm Leonard Green and Partners in a deal that values the popular high street chain at 2 billion pounds ($3 billion).
Monaco-based Green said the deal would help the group expand the fashion chain globally and leaves both Topshop and Topman and the rest of his Arcadia Group with no bank debt and cash positive.
The stake would be ringfenced from Green's larger Arcadia Group, which includes high street names such as BHS, Burton and Miss Selfridge.
($1 = 0.6214 British pounds)
(Reporting by Neil Maidment; editing by Kate Holton)
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