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China slump being felt in world's biggest firms
For many companies, business in China will get worse before it gets better; impact of slump likely to be seen in earnings reports out soon
Add BT as a preferred sourcePublished Tue, Jul 21, 2015 · 09:50 PM
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.
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