Date
24 April 2019

Consumer

  • Luckin Coffee has been expanding at breakneck speed as it seeks to displace Starbucks as the top player in the China coffee market. Photo: Bloomberg

    China’s Luckin Coffee files for US listing

    Apr 23, 2019 9:26am
    Beijing-based coffee chain Luckin Coffee on Monday filed for an initial public offering in the United States as it aims to expand its store network and boost its operations further in China. The Chinese startup, which...
  • Amazon is closing its China online marketplace, but shoppers in the country will still be able to order goods from the firm's global store. Photo: Reuters

    Amazon to shut China online store

    Apr 18, 2019 4:24pm
    Amazon is shutting its online store in China that allows shoppers to buy from domestic sellers, scaling back operations in the world’s most populous nation. An Amazon spokeswoman told Reuters on Thursday that the company is...
  • A file picture shows the Samsung Galaxy Fold phone displayed on a screen at a company event in San Francisco on Feb. 20. Photo: Reuters

    Galaxy Fold screen malfunctioned after a day, some reviewers say

    Apr 18, 2019 9:57am
    Samsung’s new Galaxy Fold, a splashy US$1,980 phone that opens into a tablet, is malfunctioning for some journalist reviewers after only a day or two of use, according to posts on social media on Wednesday. The...
  • Calzedonia has renewed its lease on a 400-square-foot shop in Causeway Bay. Photo: Wikimedia Commons

    Calzedonia pays big to stay in Causeway Bay

    - Apr 15, 2019 1:09pm
    How many socks and leggings does Calzedonia have to sell in Causeway Bay to make enough money just to pay its landlord? The Italian fashion brand has renewed its lease on a 400-square-foot shop at 60A...
  • JD.com founder and CEO Richard Liu said the number of those who are giving orders has grown while the number of those who do the actual work has fallen. Photo: Bloomberg

    JD.com boss criticizes ‘slackers’ as company makes cuts

    Apr 15, 2019 9:13am
    Richard Liu, the founder of Chinese e-commerce giant JD.com Inc, has weighed in on an ongoing debate about the Chinese tech industry’s grueling overtime work culture, lamenting that years of growth had increased the number of...
  • LVMH said Chinese customers, who still mainly buy luxury items on overseas trips and who account for more than a third of the sector’s sales, were gradually spending more on the home turf. Photo: Bloomberg

    LVMH shares hit record high as China demand boosts luxury group

    Apr 12, 2019 9:18am
    LVMH shares hit a record high on Thursday and buoyed those of rivals after the Louis Vuitton owner posted strong first-quarter sales and said that demand for its handbags and high-end fashion had picked up in...
  • A Zhuhai government-backed entity has announced plans to sell most of its stake in appliances giant Gree Electric, marking a key step in China's efforts to bring ownership changes in key enterprises. Photo: Bloomberg

    Why state-backed parent’s stake sale in Gree is significant

    - Apr 11, 2019 10:41am
    Gree Electric Appliances Inc. of Zhuhai (000651.CN), the world’s largest residential air-conditioner maker, is one of the few successful state-owned enterprises (SOEs) in China. The company said on Tuesday that its largest shareholder, State-owned Assets Supervision and...
  • Morgan Stanley estimates that Apple's sales from healthcare-related products and services could reach US$313 billion by 2027. Photo: Bloomberg

    Apple eyes healthcare as growth engine

    - Apr 10, 2019 12:12pm
    On Monday, shares of Apple returned to the US$200 level for the first time since November last year, after Morgan Stanley predicted that the technology giant could become an important player in the healthcare sector and...
  • Wynn’s decision to scrap talks to acquire Crown Resorts illustrates how media leaks can test the resolve of the potential acquirer. Photo: Reuters

    Wynn ends A$10 billion acquisition talks with Crown Resorts

    Apr 10, 2019 8:15am
    Wynn Resorts Ltd, the world’s No. 2 casino operator, said it has scrapped preliminary talks to acquire Crown Resorts Ltd for A$10 billion (US$7.1 billion), after the Australian Financial Review broke news of the negotiations, Reuters...
  • Shares of Crown Resorts soared as investors bet on an even higher bid. Photo: Bloomberg

    Wynn makes US$7.1 billion bid for Australian casino giant Crown

    Apr 9, 2019 11:02am
    Australian casino giant Crown Resorts said on Tuesday it has received an indicative A$10 billion (US$7.1 billion) takeover offer from Las Vegas’s Wynn Resorts, Reuters reports. A sale would mark an end to Crown 47-percent owner...
  • A file picture shows an Apple Store in Beijing. A reduction in value-added tax has enabled the iPhone maker to bring down product prices in the country. Photo: Reuters

    Apple, luxury brands drop China prices on VAT cuts

    Apr 2, 2019 3:06pm
    Apple and other consumer brands lowered prices for their products in China as a cut in the country’s value-added tax (VAT) rate came into effect, Reuters reports. Price tags for products listed on Apple’s China website...
  • Security personnel stand outside a Sony smartphone plant as workers leave the compound in Beijing on Wednesday. Photo: Reuters

    Sony to close smartphone plant in China, shift to Thailand

    Mar 28, 2019 3:11pm
    Sony Corp will close its smartphone plant in Beijing in the next few days as it aims to cut costs in the loss-making business, Reuters reports, citing a company spokesman. Sony will shift production to its...
  • McDonald’s said it will use Dynamic Yield’s technology to change its digital Drive Thru menu displays to show food based on the time of day, weather, current restaurant traffic and trending menu items. Photo: Reuters

    McDonald’s to acquire Israel’s Dynamic Yield

    Mar 26, 2019 7:33am
    McDonald’s Corp said it will buy Israel’s Dynamic Yield, whose technology helps marketers personalize customer interactions, to boost its online marketing efforts, Reuters reports. McDonald’s will pay more than US$300 million, a person familiar with the...
  • A.S. Watson boasts 15,000 retail shops worldwide, making it the world’s largest retail group.Photo: Reuters

    How new retail may boost the value of AS Watson’s global chain

    - Mar 25, 2019 9:22am
    Chinese internet giants Tencent (00700.HK) and Alibaba are reportedly competing to buy a 10 percent stake in A.S. Watson Group held by Temasek Holdings. In recent years, global internet firms including Alibaba, Tencent and Amazon have...
  • Xiaomi’s Lei Jun suggested a wager in 2013 that his firm’s revenue would surpass that of Gree Electric in five years, a challenge that was accepted by the latter’s chairwoman Dong Mingzhu (inset). Photos: Reuters, Yahoo

    Xiaomi, Gree face off in smart home appliances battle

    - Mar 22, 2019 9:56am
    There were two high-profile bets among Chinese business tycoons in recent years. One was a 100 million yuan bet between Alibaba founder Jack Ma and Wang Jianlin, head of Dalian Wanda Group. By 2020, if online...
  • Xiaomi has been unable to get enough units of its new Mi 9 smartphone onto the market due to supply chain issues. Photo: Reuters

    Xiaomi needs to improve its supply chain management

    - Mar 21, 2019 11:46am
    Xiaomi Corp has been struggling to get its act together in relation to supply of its newly-launched flagship Mi 9 smartphone. Unable to get enough devices onto the market, the firm was recently forced to backtrack...
  • Robert Kuok's Wilmar International has over 500 palm oil planting and manufacturing bases across 15 nations. Photo: Bloomberg/HKEJ

    Robert Kuok’s little-known big business: edible oil

    - Mar 21, 2019 11:05am
    Robert Kuok Hock Nien, an ethnic Chinese-Malaysian business magnate, controls nearly 10 listed companies including Kerry Properties (00683.HK), Kerry Logistics Network Ltd (00636.HK) and Shangri-La Asia Ltd (00069.HK). Lesser known is the fact that the tycoon...
  • Johnson & Johnson is facing more than 13,000 talc-related lawsuits across the United States. Photo: Reuters

    J&J ordered to pay US$29 million in latest talc cancer trial

    Mar 14, 2019 10:50am
    A California jury ordered Johnson & Johnson to pay US$29 million to a woman who said that asbestos in the company’s talcum-powder-based products, including Johnson’s Baby Powder, caused her mesothelioma. The verdict, in California Superior Court...
  • Barbie role model and actress Yara Shahidi participates in the ceremonial lighting of the Empire State Building in celebration of Barbie's 60th anniversary and International Women's Day on Friday in New York City. Photo: AFP

    Iconic Barbie doll celebrates 60 years of evolution

    Mar 11, 2019 7:29am
    Barbie, the fashion doll famous around the world, celebrates her 60th anniversary on Saturday with new collections honoring real-life role models and careers in which women remain under-represented. It is part of Barbie’s evolution over the...
  • Online now comprises about 7 percent of Home Depot’s sales and is the fastest-growing part of the business. Photo: Reuters

    Why adapting to e-commerce is crucial for brick and mortar shops

    - Mar 8, 2019 4:50pm
    To find hidden gems in the retail sector, investors need to be selective. While an attractive offer is critical, other factors like headroom for space growth, good control over brands and distribution, and the ability to adapt...

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