China slump being felt in world's biggest firms

Paris

CHINA'S market slump is making itself felt in corporate earnings around the world.

French distiller Remy Cointreau SA, US fast-food company Yum! Brands Inc, UK luxury-goods maker Burberry Group Plc and South Africa's Kumba Iron Ore Ltd are among the companies taking a hit from China, where a month-long rout in stocks wiped out almost US$4 trillion in market value. The International Monetary Fund sees China's economy expanding this year at the slowest rate since 1990, and said the country is a source of potential risk to global growth.

The effect is likely to be be highlighted over the next few weeks as the bulk of the world's biggest companies report second-quarter earnings. China has been among the fastest-growing markets in the past decade for cars, luxury goods and raw m…