Date
24 February 2019

Consumer

  • Hong Kong Disneyland expects its prospects to improve further after it managed to narrow its losses in the financial year ended September. Photo: HKEJ

    HK Disneyland trims losses as visitor numbers improve

    Feb 19, 2019 4:27pm
    The Hong Kong Disneyland Resort remained in the red for the fourth straight year, but it managed to reduce the losses considerably on the back of an improvement in visitor numbers and enhanced guest spending. According...
  • Senior Nestle executives pose for photographers at the firm’s headquarters in Vevey, Switzerland on Wednesday after a news conference to announce that the company will begin selling Starbucks-branded coffee at grocery stores in some markets. Photo: Reuter

    Nestle to sell Starbucks coffee under US$7.15 bln deal

    Feb 14, 2019 9:28am
    Nestle will sell Starbucks-branded coffee at grocery stores and online in Europe, Asia and Latin America from this month, Reuters reports. Following a US$7.15 billion cash deal last year for exclusive rights to sell the US...
  • Imerys and Johnson & Johnson have repeatedly denied allegations that their products could cause cancer, saying numerous studies and tests by regulators worldwide have shown their talc to be safe. Photo: Reuters

    Johnson & Johnson supplier seeks bankruptcy amid talc lawsuits

    Feb 14, 2019 9:06am
    A key supplier of talc used in Johnson & Johnson’s baby powder filed for Chapter 11 bankruptcy in the wake of multibillion-dollar lawsuits alleging its products caused ovarian cancer and asbestos-related mesothelioma, Reuters reports. Imerys Talc...
  • Several countries have imposed hefty duties on American liquor in retaliation against US President Donald Trump’s tariffs on aluminum imports. Photo: Bloomberg

    Overseas tariffs sour US whiskey exports

    Feb 13, 2019 10:52am
    American whiskey makers are feeling the pain after their major overseas markets imposed hefty duties on their liquor in retaliation against US President Donald Trump’s tariffs on aluminum imports, Reuters reports. US global whiskey exports, which...
  • People familiar with the Walmart-Deliv partnership said Deliv drivers had to frequently wait 40 minutes or more to collect grocery orders when they showed up at the store. Photo: Reuters

    Walmart, Google-backed Deliv end online grocery partnership

    Feb 13, 2019 8:48am
    Walmart Inc. and logistics firm Deliv pulled the plug on a key same-day grocery delivery partnership, dealing a setback in the retailer’s race against rival Amazon.com Inc. to deliver groceries to customers’ homes, Reuters reports. The...
  • People watch hot air balloons during a tourism event in Guizhou province. Revenue from tourism accounted for about 11 percent of China's GDP last year. Photo: Reuters

    China tourism revenue growth in 2018 slowest in a decade

    Feb 13, 2019 7:38am
    Growth in China’s tourism revenue fell to its lowest level last year since the global financial crisis a decade ago, highlighting growing risk in a fast-growing sector as Chinese consumers became more cautious, Reuters reports. Overall...
  • Macau welcomes the Year of the Pig. Lower mainland economic growth, a weaker yuan and a simmering trade war threaten to derail growth in the world’s biggest casino hub. Photo: Xinhua

    Macau braces for impact of slowing Chinese economy

    Feb 12, 2019 4:13pm
    As Macau marks 20 years since its handover from Portuguese rule, slower mainland economic growth, a weaker yuan and a simmering trade war threaten to derail growth in the world’s biggest casino hub. Macau is the...
  • Zilingo, which started as a fashion marketplace, has been rapidly growing its business-to-business (B2B) tools and platforms. Photo: Zilingo

    Fashion startup Zilingo gets US$226 million in new financing

    Feb 12, 2019 9:34am
    Southeast Asian fashion startup Zilingo said it has raised US$226 million in its latest funding round from existing backers such as venture capital firm Sequoia Capital, with Singapore’s Temasek Holdings joining as a new investor, Reuters...
  • Footballer Hakeem al-Araibi, a vocal critic of Bahrain’s government, was detained in Bangkok, Thailand, following a holiday flight to the country. Photo: Reuters

    Fights, flights, and sports’ changing world order

    - Feb 8, 2019 10:50am
    There’s something perplexing, though disconcertingly engaging, about social media and the way it randomly throws up stories that sit uncomfortably alongside each other. In the space of a few hours recently, posts condemning Qatar’s record on...
  • Amazon is facing some uncertainty in the Indian market due to new rules on foreign e-commerce players. Photo: Reuters

    Amazon quarterly results top estimates but outlook falls short

    Feb 1, 2019 9:20am
    E-commerce and tech giant Amazon on Thursday reported record holiday sales and profit, but disappointed the market as it gave muted guidance for the current quarter.  The company posted a 63 percent jump in net income...
  • Liu Shiyu has been named deputy party secretary of the All-China Federation of Supply and Marketing Cooperatives, which plays a significant role in supplying daily necessities to the country's vast population. Photo: Reuters

    The new job of the former head of China’s securities watchdog

    - Jan 29, 2019 8:58am
    Yi Huiman, former chairman of Industrial and Commercial Bank of China (ICBC), was recently named the head of the China Securities Regulatory Commission (CSRC), replacing Liu Shiyu. Liu has been named deputy party secretary of the...
  • In China, sales at established Starbucks cafes beat estimates, driven mainly by new store openings and its delivery program. Photo: AFP

    Starbucks beats sales forecasts in crowded market

    Jan 25, 2019 8:38am
    Starbucks exceeded Wall Street forecasts for quarterly sales, led by the popularity of its holiday-themed drinks in the United States, where its growth has been cooling in an increasingly crowded market for coffee houses, Reuters reports....
  • A staff member walks through the hallway of Alibaba Group's futuristic FlyZoo hotel in Hangzhou on Tuesday. Photo: Reuters

    At Alibaba’s hotel, robots deliver towels and mix cocktails

    Jan 23, 2019 10:02am
    Gliding silently through Alibaba Group Holding Ltd.’s futuristic “FlyZoo” hotel, black disc-shaped robots about a meter in height deliver food and drop off fresh towels. The robots are part of a suite of high-tech tools that...
  • The securities regulator said Prasert Prasarttong-osoth, his daughter and another executive executed and matched trading in Bangkok Airways shares that caused price and volume to be inconsistent with market conditions. Photo: Bloomberg

    Thai tycoon quits listed firms on regulator’s order

    Jan 21, 2019 1:11pm
    Thai tycoon Prasert Prasarttong-osoth resigned on Monday as chief executive of Bangkok Dusit Medical Services and Bangkok Airways after the securities regulator barred him from holding executive positions in listed Thai firms, citing share manipulation, Reuters...
  • Arunachalam Muruganantham and his pad-making machines. Photo: DesignForFreedom/YouTube

    What a Bollywood movie tells us about the economy

    - Jan 18, 2019 6:08pm
    Some are worried that the global economic growth may run out of steam if the world’s largest growth engine, China, shifts to a lower gear.  A recent Bollywood movie, Pad Man, may offer some insight as to...
  • Foreign tourists  spent a total of 4.5 trillion yen (US$41.37 billion) in Japan last year, of which 335.5 billion yen, or 7.4 percent, was contributed by Hong Kong visitors. Photo: AFP, Bloomberg, Reuters

    Hongkongers contribute much to Japan tourism boom

    - Jan 18, 2019 11:05am
      Who doesn’t want to go to Japan for a vacation? All the delicious sushi and sashimi you can eat, a stay in a quaint and tidy ryokan, amazing sights, great shopping bargains: just the perfect therapy...
  • The deal with Sears chairman Eddie Lampert would keep open more than 400 stores and preserve up to 45,000 jobs, the company said. Photo: Bloomberg

    Sears chairman wins bankruptcy auction with US$5.2 billion bid

    Jan 18, 2019 7:24am
    Sears Holdings Corp. chairman Eddie Lampert won a bankruptcy auction to buy the once iconic US retailer after presenting an improved offer of US$5.2 billion, but creditors quickly moved to oppose the deal, Reuters reports.  Sears...
  • Luckin Coffee, which has emerged as a strong challenger to Starbucks in China, is said to have begun preparations for a Hong Kong listing. Photo: Reuters

    Will Luckin Coffee prove a good IPO bet?

    - Jan 16, 2019 4:20pm
    Chinese startup Luckin Coffee is reportedly seeking an IPO in Hong Kong this year, even as global coffee chain giant Starbucks has warned of a slowdown in the China market. Targeting a similar customer group, Luckin’s...
  • Consumers should not rely on smart watches and fitness bands for precise measurements, but rather, they should consider the information these devices provide as mere reference in keeping track of daily activities. Photo: Bloomberg

    Smart watches are not that smart, says Consumer Council

    - Jan 16, 2019 2:31pm
    Smart watches and fitness bands are the in-thing – not only as fashion accessories but as valuable devices for those who want to stay fit. However, they are not always reliable. Our Consumer Council went the...
  • You'll be spoiled for choice with food on the mainland – more delicious and very affordable food. Photo: EJ Insight/ Bloomberg

    Why can’t we have Luckin, Hema and Pop Pop Pot in Hong Kong?

    - Jan 11, 2019 2:11pm
    You may not like it in China because there’s no Google or Facebook, unless you have access to virtual private networks, which, although banned, are still available from some clandestine providers – or so we were...

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