Date
15 November 2019

Consumer

  • Bellamy’s is number four by market share in the Australian infant milk formula market. Photo: Reuters

    Australia clears Mengniu purchase of Bellamy’s, with conditions

    Nov 15, 2019 9:57am
    The Australian government on Friday approved China Mengniu Dairy Co. Ltd.’s (02319.HK) A$1.43 billion (US$980.27 million) takeover of infant formula maker Bellamy’s Australia Ltd. but imposed conditions to keep the company tied to Australia, Reuters reports....
  • Alibaba's share offering in Hong Kong would be the world’s biggest cross-border secondary listing. Photo: Reuters

    Alibaba set to launch US$13.4 billion HK share sale: report

    Nov 13, 2019 6:49pm
    Chinese e-commerce giant Alibaba Group is poised to launch a Hong Kong share sale expected to raise up to US$13.4 billion as soon as Thursday, Reuters reports, citing two sources with knowledge of the discussions. The...
  • Smartphones were among the top-selling products on Alibaba’s online platform during the Double 11 festival this year. Photo: Reuters

    Apple, Huawei, Xiaomi reap big on Singles’ Day

    - Nov 13, 2019 2:20pm
    Alibaba Group has once again notched a big success on Singles’ Day, with total sales hitting a new high at 268.4 billion yuan (US$38.4 billion) during the 24-hour online shopping festival on Monday. Among the key...
  • The proposed class-action lawsuit accuses McDonald’s of lacking policies to address sexual harassment, failing to train managers to prevent it, and retaliating against workers who complain. Photo: Bloomberg

    McDonald’s sued over sexual harassment, ‘toxic’ work culture

    Nov 13, 2019 10:24am
    McDonald’s Corp. was sued by workers in Michigan who accused the fast-food chain of allowing pervasive sexual harassment to flourish at its restaurants nationwide, Reuters reports. The proposed class-action lawsuit filed in a Michigan state court...
  • A screen displays the transaction volume of Alibaba’s Singles' Day shopping festival at the firm’s headquarters in Hangzhou, China early on Tuesday. Photo: Reuters

    Alibaba’s Singles’ Day sales hit new record, but growth slows

    Nov 12, 2019 11:30am
    Alibaba Group saw sales during its 24-hour Singles’ Day shopping blitz on Monday hit a record US$38.4 billion, though the growth rate was slower compared to previous years. The Chinese online retail giant announced that gross...
  • AB InBev will benefit from Craft Brew’s portfolio of regional breweries and lifestyle brands. Photo: Reuters

    Anheuser-Busch to buy rest of Craft Brew Alliance

    Nov 12, 2019 9:55am
    Anheuser-Busch Inbev will buy the rest of Craft Brew Alliance that it does not own in a deal valuing the Portland-based brewing firm at about US$321 million, Reuters reports. The deal is a reversal in stance...
  • Google has landed its biggest cloud computing customer in the healthcare space. Photo: Reuters

    Google inks healthcare data, cloud computing deal with Ascension

    Nov 12, 2019 9:35am
    Google has sealed a cloud computing deal with US healthcare services provider Ascension, a partnership that could help the tech giant further develop artificial intelligence tools related to the segment. The partnership will explore artificial intelligence...
  • The volume of packaging material used by China’s e-commerce and express delivery sectors hit 9.4 million tons last year, and is on course to reach 41.3 million tons by 2025. Photo: Reuters

    Green groups warn of packaging waste surge in China

    Nov 11, 2019 11:48am
    Accumulated waste from China’s e-commerce and express delivery sectors stands to more than quadruple by 2025 unless action is taken to rein it in, green groups said on Monday, as an online shopping spree known as...
  • Chang "Xinyi" Ping of China's FunPlus Phoenix holds the trophy after winning the League of Legends World Championship Finals in Paris on Sunday. Photo: Reuters

    Chinese smash European hopes of ‘Legends’ video game glory

    Nov 11, 2019 9:03am
    Chinese video gamers crushed a team from Europe who were hoping to break the domination of Asian players in the world championship finals of online game League of Legends, Reuters reports. With more than US$1 million...
  • Singles' Day has become the world’s biggest online sales event. Photo: Reuters

    Alibaba says Singles’ Day sales hit 91.2 bln yuan in first hour

    Nov 11, 2019 8:01am
    Chinese e-commerce giant Alibaba Group Holding Inc. said on Monday that sales for its annual Singles’ Day shopping blitz hit 91.2 billion yuan (US$13 billion) within the first hour, up 32 percent from last year’s early...
  • Alibaba saw sales worth US$30 billion on its platforms on Singles’ Day last year. Photo: Bloomberg

    Alibaba looks forward to another record Singles Day

    Nov 8, 2019 3:17pm
    Alibaba Group will kick off its annual 24-hour shopping extravaganza on Monday with deals and deep discounts galore, and a performance by American popstar Taylor Swift to top it all, as it pushes to rake in...
  • Maxim's Caterers and Cathay Pacific reel from the impact of the ongoing unrest in Hong Kong. Photo: Bloomberg/AFP

    HK turmoil takes its toll on Jardine and Swire

    - Nov 8, 2019 11:19am
    At least two of Hong Kong’s leading conglomerates are reeling from the impact of the raging political conflagration that broke out five months ago. There’s Jardine Matheson’s Dairy Farm International, which has a 50 percent stake...
  • China said it has resumed allowing imports of meat from Canada after the latter has addressed safety concerns. Photo: Bloomberg

    China to resume imports of Canadian beef and pork

    Nov 6, 2019 4:36pm
    China will resume imports of Canadian beef and pork, Prime Minister Justin Trudeau said, some four months after Beijing blocked shipments amid an escalating diplomatic feud between the two countries, Reuters reports. “Good news for Canadian...
  • AstraZeneca’s sales in China have doubled since 2012. Photo: Reuters

    AstraZeneca plans US$1 billion China investment fund with CICC

    Nov 6, 2019 8:38am
    AstraZeneca said it is launching a new fund with China International Capital Corporation (CICC) to invest US$1 billion in China’s healthcare sector, as it expands its research work in the country, Reuters reports. The fund will...
  • Meituan reported a net profit of 450 million yuan (US$64.32 million) in the first half of this year, compared with a loss of 4.2 billion yuan in the same period last year. Photo: Reuters

    Meituan’s dramatic turnaround and share price surge

    - Nov 6, 2019 8:01am
    Meituan Dianping (03690.HK), China’s largest online food delivery-to-ticketing services platform,  has surged over 120 percent year-to-date. It’s one of the very few successful examples of the cash-burning business model. Online food delivery platforms actually originated in...
  • Former McDonald's CEO Steve Easterbrook has been dismissed over a recent consensual relationship with an employee. Photo: Reuters

    McDonald’s says ousted CEO eligible for six months severance pay

    Nov 5, 2019 9:02am
    McDonald’s Corp. said former chief executive Steve Easterbrook is eligible for six months of severance pay as part of his termination agreement with the company, Reuters reports. The company also said its global chief people officer...
  • Announcing Steve Easterbrook's dismissal, McDonald's said the company‘s board has determined that the CEO 'demonstrated poor judgment' in pursuing a romantic relationship with an employee. File Photo: Reuters

    McDonald’s ousts CEO over relationship with employee

    Nov 4, 2019 12:05pm
    Global fast-food chain McDonald’s has fired CEO Steve Easterbrook over a recent consensual relationship with an employee, which the board determined violated company policy. The board found that Easterbrook, 52, who had led McDonald’s since 2015,...
  • LVMH saw its profit surge, driven by strong sales in Asia ex-Japan, especially China, which has already become its largest market. Photo: Reuters

    Why Europe’s richest man wants to acquire Tiffany

    - Oct 30, 2019 4:16pm
    The world’s largest luxury group LVMH has made a bid to buy jeweler Tiffany & Co. for US$14.5 billion in cash. Tiffany said it is reviewing the offer. LVMH saw its interim sales revenue and net...
  • Announcing its decision to pull the plug on Playstation Vue service, Sony said the pay-TV industry has been 'slower to change than expected'. Photo: Bloomberg

    Sony to shut down live TV streaming service Playstation Vue

    Oct 30, 2019 9:30am
    Japanese electronics giant Sony announced on Tuesday that it will shut down its cloud-based TV service PlayStation Vue in January, Reuters reports. “Unfortunately, the highly competitive pay TV industry, with expensive content and network deals, has...
  • Johnson & Johnson has recalled around 33,000 bottles of baby powder in the United States after the FDA found trace amounts of asbestos in samples taken from a bottle purchased online. Photo: AFP

    J&J says new tests find no asbestos in same baby powder sample

    Oct 30, 2019 8:31am
    Johnson & Johnson said 15 new tests found no asbestos in a bottle of baby powder that the US Food and Drug Administration says tested positive for trace amounts of asbestos, Reuters reports. The tests are...