Universal plans theme park in Beijing

Spider-Man could soon swing over Beijing, chasing Optimus Prime and despicable minions through a $3.3 billion Universal theme park aimed at capitalizing on China's rising middle class and growing demand for all things animated. China has been a major booster of animated movies such as "Transformers: Age of Extinction" — which was partly filmed in China — and "The Amazing Spider-Man 2." Brand is becoming more important to Chinese market as its middle class pours cash into entertainment, and malls and parks across China are installing animation and cartoon-themed attractions to woo visitors, says global architecture firm AECOM. The Chinese film industry is set to overtake the U.S. box office in the next three years, leading to more demand for Western entertainment, said Gary Goddard, founder of entertainment design firm Goddard Group in North Hollywood, California. The rising middle and upper classes "all have money to spend and they want to spend time together with their families," he said. The 1,000-acre Beijing park will include attractions from other Universal parks, rides that reflect China's cultural heritage, a Universal CityWalk entertainment zone and a Universal-themed resort hotel. It will be the third Universal park in Asia, joining others in Singapore and Osaka, Japan.

GM death toll in recall case at 27

The death toll linked to General Motors' defective ignition switch has now more than doubled from the company's original estimate. Twenty-seven wrongful-death claims filed to the company's victim compensation program have been deemed eligible for payment, according to a weekly update posted on the program's website. For months after it began recalling cars with the faulty switch, GM estimated that 13 people had died in crashes linked to the defect, though executives held out the possibility that the number could rise. GM has given Kenneth Feinberg, the victim compensation expert who is running the company's payment program, sole discretion to determine the number of eligible claims for deaths and injuries associated with the faulty switch — a flaw that can cause power to cut out in a moving car, disabling air bags, power steering and power brakes. This year, GM has recalled 2.6 million cars that could have the faulty switch defect, more than a decade after engineers inside the company first spotted a problem. As of Friday, the Feinberg program had received a total of 1,371 claims, 178 of them for wrongful deaths, and had accepted a total of 52 claims for payment. Many of the others are still under review, awaiting further evidence. Some have been rejected, although the fund did not report how many.

ADM buys fruit-nut distributor

Archer-Daniels-Midland Co., the world's largest corn processor, agreed to buy a distributor of nut and fruit products for $170 million to expand its new food-ingredients business unit. It will acquire Fargo, N.D.,-based Specialty Commodities Inc., which is majority owned by private-equity firm Goldner Hawn Johnson & Morrison Inc. Specialty Commodities sells ingredients to makers of snacks, ice cream, cereal, nutrition bars and pet food, Chicago-based ADM said.

Fidelity names new chief executive

The mutual fund giant Fidelity Investments has named Abigail Johnson its new chief executive, according to an internal memorandum. Johnson, 52, who is currently president of Fidelity's parent company, will succeed her father, Edward C. Johnson III, as chief executive. Edward Johnson, the son of the company's founder, will remain chairman, while Abigail Johnson will retain her president role. The announcement clarifies the succession plan of Fidelity, which was founded in 1946 and is now one of the nation's largest mutual fund firms. The Johnson family continues to own a substantial stake in the privately held company. Edward Johnson has been chief executive since 1977.

GE division to buy Milestone Aviation

General Electric Co.'s aircraft leasing division, the world's largest, has agreed to buy Milestone Aviation Group for $1.78 billion to add helicopters to its portfolio of rental assets. The deal will add 168 helicopters valued at $2.8 billion, GE Capital Aviation Services said. Counting orders and options, the lessor has plans for $3 billion in new craft. Milestone Aviation is based in Dublin and was founded in 2010 by Richard Santulli, who built the NetJets luxury-aircraft leasing unit owned by Warren Buffett's Berkshire Hathaway Inc.

Iliad gives up T-Mobile takeover attempt

Iliad, the upstart French telecommunications company, said Monday that it was ending its attempt to take over T-Mobile US, the big American wireless carrier. It said it was doing so despite having raised both the size of the stake it was willing to acquire and the price it was willing to pay. In July, Iliad said it had offered $15 billion for 56.6 percent of T-Mobile US, a surprising move that announced the global ambitions of Iliad, which has disrupted the market for cellphone plans in France. At the time, the offer also complicated fledgling merger talks between T-Mobile US and Sprint that would have created a true third rival to Verizon Wireless and AT&T, the two largest American cellphone carriers. T-Mobile US rejected the bid from Iliad, and talks with Sprint fell apart later in the summer. And on Monday, Iliad said it would not continue its pursuit of T-Mobile US.

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