Money Briefs: Wanda's bid for US TV producer in trouble

Wanda's bid for US TV producer in trouble

BEIJING • Billionaire Wang Jianlin's Dalian Wanda Group is facing obstacles in its US$1 billion (S$1.4 billion) bid to buy Golden Globe Awards producer Dick Clark Productions, according to people familiar with the matter.

The Chinese conglomerate has had difficulties taking money out of China to pay for the deal, they said, asking not to be identified because the information is private. It would be premature to say that the deal has collapsed.

Late last year, Chinese government bodies, including the National Development and Reform Commission, said they are closely watching "irrational" outbound purchases, in the latest sign of China's broader effort to limit capital outflows and protect the currency from depreciating further.

BLOOMBERG


Britain posts record January surplus

LONDON • Chancellor of the Exchequer Philip Hammond received a pre-budget boost as new figures yesterday showed Britain posted the biggest surplus for any January since at least 2001.

The £9.4 billion (S$16.6 billion) surplus compares with £9.1 billion a year earlier, the Office for National Statistics said. Revenue rose 5.3 per cent and spending increased 5.4 per cent.

Mr Hammond announces his annual budget on March 8.

BLOOMBERG

A version of this article appeared in the print edition of The Straits Times on February 22, 2017, with the headline 'Money Briefs'. Print Edition | Subscribe