Date
18 December 2017

Consumer

  • As online shopping festivals become big events, traditional retailers have no choice but to follow. Photo: China Daily.

    Online retail boom brings more shopping festivals

    - Dec 14, 2017 11:00am
    Alipay, the mobile payments unit of China’s Ant Financial Services Group, launched a major shopping event on Dec. 12, called the “Double 12” International Festival. More than 10,000 shops in Hong Kong and Macau are participating...
  • China is expected to see a further huge surge in online retail in the coming years. Image: Savills Research, Goldman Sachs Global Investment Research

    O2O blurs the lines of digital and physical retail

    - Dec 14, 2017 9:30am
    China’s retail market has been beset by a number of challenges over the last five years — an anti-corruption campaign, economic slowdown, overseas purchasing, and retail oversupply. The biggest influence on the retail market, however, has...
  • The mobile game Tower of Saviors made a big splash in Hong Kong and Taiwan, attracting five million downloads shortly after it was released in January 2013. Photo: YouTube

    What would every local startup buy after making big bucks?

    - Dec 13, 2017 11:14am
    It all boils down to a game of Monopoly: whoever acquires the most number of properties wins. The Tsang brothers, who developed the highly popular mobile game Tower of Saviors, are no exception to the rule....
  • Westfield has pioneered in US mall redevelopment, introducing upscale food courts, high-end restaurants, bars, cinemas and boutique fashion outlets to entice shoppers. Photo: Reuters

    Europe’s Unibail bids US$16 billion for mall operator Westfield

    Dec 13, 2017 7:51am
    Europe’s biggest property firm Unibail-Rodamco is to buy US and UK mall operator Westfield Corp. for US$16 billion. The deal is seen as a defensive move to create a global leader in a sector grappling with...
  • The Australia Amazon site shows deliveries have started, in this illustration photo taken on Tuesday. Credit: Reuters

    Amazon Australia goes live in time for Christmas season

    Dec 5, 2017 8:57am
    E-commerce giant Amazon launched its Australian operations on Tuesday, with the local website going live and taking orders along with free shipping offers. The online retailer is offering free shipping nationwide for purchases over A$49 (US$37.3),...
  • CVS expects Aetna acquisition to yield cost synergies of US$750 million in the second year after the transaction closes. Photo: Reuters

    CVS Health to buy Aetna for US$69 bln in year’s biggest deal

    Dec 4, 2017 8:25am
    US drugstore chain operator CVS Health Corp has agreed to buy health insurer Aetna for US$69 billion in cash and stock, marking the year’s largest corporate acquisition deal. According to an announcement Sunday, Aetna shareholders will...
  • The National Retail Federation attributed the strong turnout to better technology and discounting, low unemployment, rising consumer confidence and good weather across the country. Photo: Reuters

    US holiday spending season off to a strong start

    Nov 29, 2017 8:16am
    More than 174 million US shoppers made purchases over Thanksgiving weekend and Cyber Monday, the National Retail Federation said on Tuesday, beating the industry group’s expectations and signaling a strong start to the holiday quarter, Reuters...
  • TVs, toys and gaming consoles were among the most heavily discounted items during the Black Friday sale in the US. Photo: Reuters

    Black Friday, Thanksgiving online sales in US hit new high

    Nov 27, 2017 8:26am
    Black Friday and Thanksgiving online sales in the United States surged to record highs as shoppers bagged deep discounts and bought more on their mobile devices, Reuters reports, citing data from retail analytics firms. Retailers raked...
  • Victoria's Secret holds a hugely successful fashion show in Shanghai on Monday. Photo:Xinhua

    Victoria’s Secret wows glitterati at Shanghai catwalk

    - Nov 24, 2017 5:22pm
    Victoria’s Secret easily became one of the hottest topics on China’s social media when it held its annual fashion show in Shanghai’s Mercedes-Benz Arena on Monday night. Around 3,000 invited guests attended the glittery affair. A front seat...
  • Hong Kong billionaire Li Ka-shing is famous for getting the best price when selling assets. Photo: Reuters

    Is Watsons ripe for a spin-off?

    - Nov 22, 2017 3:54pm
    Hong Kong billionaire Li Ka-shing’s business empire Cheung Kong has been able to get the best price when offloading some assets. For instance, the Centre, its Grade A office building, was sold for over HK$40 billion...
  • New Chinese owners David Han Li (left), Yonghong Li (middle) and Marco Fassone, the new managing director, hold AC Milan jerseys during a news conference in Milan. Photo: Reuters

    Europe’s flat-footed response to the rise of Asian sports

    - Nov 22, 2017 3:52pm
    In recent weeks, several high-profile figures, including the English Football Association chairman, have been questioned in the British parliament as part of an ongoing government investigation into governance in sports. There is something rather tiresome, dispiriting...
  • Café de Coral has faced headwinds in some markets in mainland China, leading to several store closures. Photo: Reuters

    Café de Coral suffers temporary pain amid growing competition

    - Nov 21, 2017 4:44pm
    Café de Coral, Hong Kong’s biggest fast-food restaurant group, has seen its share price tumble to a 52-week low. The company has suffered a setback in mainland China expansion, prompting several store closures there. Elsewhere, it is...
  • Chinese residents have strong demand for high-end products and daily essentials. Photo: Reuters

    Shanghai residents spend the most in China

    - Nov 21, 2017 10:14am
    How strong is consumption demand in China? It has been reported that a ticket to a private lingerie show in Shanghai fetched 350,000 yuan (US$52,732) in an online sale. That may be exceptional. On average, residents...
  • Walmart has found its own way to survive in the challenging retail market, competing with e-commerce giants like Amazon. Photo: Bloomberg

    Walmart reaps gains as it seeks to reinvent itself

    - Nov 20, 2017 4:19pm
    Walmart, the world’s largest retailer, has seen its shares surge about 40 percent year to date, taking its market value close to the US$300 billion mark. The company has found its own way to survive in...
  • Alibaba said sales on its Tmall hit crossed 100 billion yuan within nine hours on November 11, compared with 10 hours to reach the same amount during the same event last year. Photo: Bloomberg

    Alibaba, JD bicker over Singles’ Day sales

    - Nov 20, 2017 10:15am
    Chinese e-commerce giants Alibaba and JD.com are squabbling over their sales performance during the Singles’ Day. Alibaba said sales on its Tmall hit over 100 billion yuan within nine hours on November 11, compared with 10...
  • Johnson & Johnson has won a key battle over claims related to its talc products, but it still faces many legal challenges. Photo: Facebook

    J&J wins lawsuit on ‘cancer-causing’ talc products

    Nov 17, 2017 9:39am
    Johnson & Johnson won a lawsuit Thursday in a case filed by a lady who claimed that said she developed cancer after being exposed to asbestos in the company’s talc-based products. A California jury ruled in...
  • The deal will help Shanghai Pharmaceuticals Holding, China’s third-largest drug distributor, become a leading importer of foreign medicine into the world’s second-largest drug market. Photo: Reuters

    Shanghai Pharma buys Cardinal’s China business for US$557 mln

    Nov 16, 2017 7:34am
    Shanghai Pharmaceuticals Holding Co. Ltd. (02607.HK, 601607.CN) has agreed to buy Cardinal Health Inc.’s China drug distribution business for US$557 million, winning a highly competitive auction in a move that will greatly expand its presence nationwide,...
  • Tencent's additional investment came after Maoyan and Tencent-backed Beijing Weiying Technology struck a merger deal in September to create a movie ticketing giant. Photo: Reuters

    China ticketing platform Maoyan raises US$150 mln from Tencent

    Nov 15, 2017 2:19pm
    Maoyan, one of China’s biggest online ticketing platforms, on Wednesday said it has secured 1 billion yuan (US$150.82 million) in funding from internet giant Tencent Holdings Ltd., valuing the company at 20 billion yuan, Reuters reports....
  • Forever 21, which operates more than 815 stores in 57 countries, did not say which of its stores were affected. Photo: Bloomberg

    Fashion retailer Forever 21 reports payment card security breach

    Nov 15, 2017 8:30am
    Fashion retailer Forever 21 says there has been unauthorized access to data from payment cards used at certain of its stores. The company said the results were part of an investigation it started after it received...
  • Donald Trump toasts a glass of red wine during a state dinner in Beijing hosted by Chinese President Xi Jinping. Photo: Reuters

    Great Wall wine has yet to make a profit

    - Nov 13, 2017 4:26pm
    US President Donald Trump wrapped up his visit to China with deals worth about US$250 billion. The banquet menu at the formal dinner hosted by President Xi Jinping for Trump raised eyebrows. The menu included garoupa...

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