At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once again. Video
WASHINGTON - Small business optimism rose to a one year-high in May, a hopeful sign for an economy that has hit a soft patch.
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.
McDonald's Indian franchisee Hardcastle to merge with listed parent
MUMBAI (Reuters) - Hardcastle Restaurants, master franchisee for south and west India operations of burger chain McDonald's Corp (MCD.N), said it will merge with its parent Westlife Development Ltd (WEST.BO).
After the merger, the parent plans to increase McDonald's retail footprint to strengthen its presence in the existing market and enter newer ones, Amit Jatia, vice-chairman of Westlife Development, said in a statement on Friday.
Hardcastle will become a wholly owned unit of Bombay Stock Exchange-listed Westlife, giving investors a chance to participate in the growth of McDonald's in India.
Hardcastle, which operates 148 restaurants in India, has been growing at a compounded annual growth rate of 22.3 percent over the last three years.
Shares of Westlife, an illiquid stock, ended up 2 percent on the BSE on Friday.
(Reporting by Nandita Bose; Editing by Prateek Chatterjee)
- Tweet this
- Share this
- Digg this