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Business

Business briefs

By
Post Staff Report
Published June 17, 2013, 4:00 a.m. ET

China trouble

A top Fitch Ratings director in Beijing warned of a credit bubble in China, saying, “There is no transparency in the shadow banking system, and systemic risk is rising. We have no idea who the borrowers are, who the lenders are, and what the quality of assets is, and this undermines signaling,” Charlene Chu told UK-based The Daily Telegraph, adding, credit-driven growth was “falling apart.”

Timber!

Brookfield Asset Management agreed to sell its Longview Timber holdings in the Pacific Northwest to Weyerhaeuser for $2.65 billion, including assumption of debt, and will sell a nearby paper and packaging business to KapStone Paper and Packaging for $1.025 billion. They include 645,000 acres in California and Washington that are contiguous with Weyerhaeuser-owned lands.

Airbus deal

Airbus is set to win an order for more than 10 A380 double-decker airliners from leasing company Doric Asset Finance, sources said. Doric has financed A380s for Emirates, the biggest operator of the jet, and for Singapore Airlines.