17 March 2018


  • Hong Kong tycoon Li Ka-shing waves goodbye after announcing his retirement at a news conference on Friday. Photo: Reuters

    Li Ka-shing announces retirement, will stay on as senior adviser

    Mar 16, 2018 6:03pm
    Li Ka-shing, Hong Kong’s richest man, on Friday announced that he will step down as chairman of his business empire later this year but stay on as a senior adviser. He will be succeeded by his eldest...
  • Toys "R" Us plans to sell or close all of its stores in the United States, a move that could affect 33,000 jobs in the coming months,  Photo: AFP

    Toys ‘R’ Us plans to sell or close all US stores

    Mar 15, 2018 10:03am
    Toys “R” Us Inc. said it will sell or close all of its stores in the United States, a move that could affect 33,000 jobs in the coming months, the Wall Street Journal reports. Chief executive...
  • Cigna’s CEO David Cordani says the Express Scripts acquisition will be good news for the health insurer’s employer clients. Photo: Reuters

    Health insurer Cigna to buy Express Scripts for US$52 bln

    Mar 9, 2018 9:47am
    US health insurer Cigna has agreed to buy pharmacy benefits manager Express Scripts in a deal worth US$52 billion, the latest mega transaction in the healthcare-related business in the country. The companies say the combination will...
  • Iran's national footballer Sardar Azmoun celebrates his goal with fans at the Asian Cup in 2015. Photo: Reuters

    Is Iran an emerging football nation?

    - Mar 8, 2018 3:30pm
    On the day I recently gave a presentation on emerging markets to students attending the Sport Business Institute in Barcelona, Iranian club Esteghlal beat its league rival Persepolis 1-0 in the Tehran derby. For many people...
  • Coca-Cola has been diversifying its products amid declining soda sales and changing consumer tastes. Photo: Bloomberg

    Coca-Cola plans to launch first alcoholic drink in Japan

    Mar 8, 2018 8:15am
    Coca-Cola Co. is set to launch an alcoholic drink in Japan, a first for the company. The plan was revealed by Jorge Garduño, president of Coca-Cola’s Japan unit, in an article posted on the company’s website, the...
  • Former drug company executive Martin Shkreli is scheduled to be sentenced for securities fraud on Friday. Photo: Bloomberg

    US judge orders ‘Pharma Bro’ Shkreli to give up US$7.36 million

    Mar 6, 2018 9:06am
    Former drug company executive Martin Shkreli may have to give up a Picasso and a one-of-a-kind Wu-Tang Clan album, after a US judge ordered him to forfeit US$7.36 million following his conviction of defrauding investors, Reuters reports....
  • Following the purchase of Whole Foods in the US last year, Amazon is seeking to expand its grocery delivery service in some overseas markets, including France. Photo: Bloomberg

    Amazon eyes grocery delivery service in France

    Mar 5, 2018 9:14am
    Amazon aims to launch grocery delivery service in France as part of global ambitions to expand in food retail, a company official said. “(Food) is a strong development axis for Amazon since the launch of our...
  • Alibaba, led by its founder and executive chairman Jack Ma, is said to be in talks to buy out the other investors in the firm that runs the food delivery platform. Photos: Bloomberg,

    Alibaba seeks to acquire rest of China food delivery app

    Feb 28, 2018 10:36am
    Alibaba Group is seeking to acquire full control of by buying out Baidu and other investors in the Chinese food delivery startup. The e-commerce giant is in discussions to buy the remaining stake in
  • The growing popularity of streaming services such as Netflix is among the factors that are posing a severe challenge to traditional movie studios and theatre chains. Photo: Bloomberg

    Global movie industry facing crisis

    - Feb 23, 2018 11:45am
    In 2017, North America, the world’s largest movie market, saw the box office revenue drop by nearly 3 percent to below US$11 billion. And the movie attendance figure stood at 1.58 billion, 20 percent lower than...
  • Lanvin, France’s oldest surviving couture label, had struggled financially in recent years after switching designers. Photo: Reuters

    China’s Fosun snaps up Lanvin in fashion expansion

    Feb 23, 2018 8:23am
    Fosun (00656.HK) is taking control of Lanvin, France’s oldest surviving couture label, in the Chinese conglomerate’s most prominent fashion investment yet, Reuters reports. Fosun, which owns French leisure company Club Med, is the latest Chinese firm...
  • Since 2017, Alibaba and Tencent have between them spent more than US$10 billion as part of a  battle to win over consumers and store operators to their competing payment, logistics, social media and big data services. Photo: Xinhua

    Alibaba, Tencent rally troops amid US$10 billion retail battle

    Feb 20, 2018 9:32am
    China’s tech giants Alibaba Group Holding Ltd. and Tencent Holdings Ltd. (00700.HK), worth a combined US$1 trillion, are on a retail investment binge, forcing merchants to choose sides amid a battle for shoppers’ digital wallets. Since...
  • The problem arose at the weekend after KFC switched its delivery contract to DHL, forcing the majority of its 900 outlets in Britain to shut. Photo: Reuters

    KFC closes most of its UK stores due to chicken shortage

    Feb 20, 2018 9:15am
    Fast-food chain KFC has been forced to close hundreds of its stores in the United Kingdom because of a shortage of chicken, Reuters reports, citing the company. The problem arose at the weekend after the chain...
  • Chinese conglomerate Fosun is said to have reached a deal for purchase of a majority stake in French fashion label Lanvin. Photo: Bloomberg

    Fosun set to acquire majority stake in Lanvin: report

    Feb 13, 2018 9:20am
    China’s Fosun group is set to acquire a majority stake in struggling French fashion house Lanvin, Reuters reports, citing sources familiar with the matter. Fosun, which owns French leisure group Club Med and a stake in Italian...
  • The biggest advantage of unmanned shops is savings on labor costs. However, labor cost is not that expensive in a nation of 1.3 billion people. Photo:  Xinhua

    Why many unmanned shops in China have closed

    - Feb 13, 2018 9:15am
    A number of Chinese companies have opened over 40 unmanned outlets across the country, hoping to improve slim profit margins in the retail business by reducing staff costs. These operators include e-commerce firms Alibaba Group Holdings,...
  • Alibaba Group has announced another acquisition as part of a strategy to leverage offline and online retail. Photo: Reuters

    Alibaba buys 15% of furniture retailer Easyhome for US$866 mln

    Feb 12, 2018 9:29am
    E-commerce giant Alibaba Group announced on Sunday that it will acquire 15 percent stake in Beijing Easyhome Furnishing Chain Store Group in a deal worth 5.45 billion yuan (US$866 million). The investment in Easyhome, China’s second-largest...
  • Wanda Sports operates more than 20 sports events including triathlon, football and ice hockey in more than 20 countries around the world. Photo:

    Wanda Sports: Wander for wonders

    - Feb 9, 2018 1:53pm
    Wanda Group, originally from Dalian, has for long been a showcase of China’s rapid urbanization. Its flagship Wanda Plazas occupy the size of a city and house many top-tier global brands. Within the group, Wanda Sports,...
  • Billionaire Steve Wynn has resigned as CEO and chairman of Wynn Resorts which he established in 2002. Photo: Bloomberg

    Casino magnate Steve Wynn quits after sexual misconduct claims

    Feb 7, 2018 4:31pm
    US casino mogul Steve Wynn has resigned as chief executive of his company Wynn Resorts following claims he routinely subjected women who worked for him to unwanted advances, becoming one of the most prominent business leaders...
  • Apple's physical stores in mainland China now accept payments through mobile payment app Alipay. Photo: Reuters

    Apple stores in China to accept Alipay payments

    Feb 7, 2018 4:18pm
    Apple Inc.’s brick-and-mortar retail stores in mainland China will now accept payments through mobile payment app Alipay, the first third-party mobile payment system to be accepted at any physical Apple store worldwide, Reuters reports. According to a...
  • If China wants to pick another city as additional gaming hub, it may opt for a less developed place, rather than Hainan, according to some observers. Photo: Bloomberg

    Why gambling won’t be allowed on Hainan anytime soon

    - Feb 6, 2018 5:09pm
    Macau gaming stocks took a dive last week after reports that China is drafting a proposal to allow gambling on Hainan Island. Authorities, meanwhile, sought to dismiss such talk as rumors spread by vested interests, particularly...
  • Weaker-than-anticipated demand has prompted Apple to scale back iPhone X production target for the current quarter, according reports. Photo: Bloomberg

    What Apple can learn from tepid iPhone X sales

    - Feb 6, 2018 2:10pm
    Apple reported last week another record quarter in terms of revenue and profits, but the markets were not too impressed, causing the share price to head south and slip into correction territory. Key reason for the...

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