China probes Yum's chicken

Investor's Business Daily

The parent of KFC tumbled 3.9% to 63.88 following news that food safety authorities in Shanghai found elevated levels of an antibiotic in some '10 and '11 samples of its chicken. Two Chinese farms that supplied Yum Brands (YUM) and McDonald's (MCD) have been shut down. China is Yum's largest market. It could face harsh penalties if it's found not to have taken corrective measures. Yum said it's cooperating. McDonald's shares rose fractionally.

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