News Snapshot:
Asia's wealthiest woman lost more than half her fortune over the past year as China's real estate sector was rocked by a cash crunch, a billionaire index showed Thursday. Yang Huiyan, a majority shareholder in Chinese property giant Country Garden, saw her net worth plunge by more than 52 percent to $11.3 billion from $23.7 billion a year ago, according to the Bloomberg Billionaires Index. Yang's fortune took a major hit on Wednesday when the Guangdong-based Country Garden's Hong Kong-listed shares fell 15 percent after the company announced it would sell new shares to raise cash. Yang inherited her wealth...
