23 August 2019

Consumer & Gaming

  • German retailer Metro is seeking a strategic partnership to maximize the growth potential of its Chinese business. Photo: Reuters

    At least 8 second-round bids seen for Metro’s China unit

    May 28, 2019 9:41am
    At least eight suitors are preparing second-round bids to buy a majority stake in German wholesaler Metro’s Chinese operations, Reuters reports, citing people familiar with the matter. Metro is said to have asked a shortlist of...
  • A MUJI store at a shopping mall in Hangzhou, Zhejiang province. The Japanese retailer has been battling copycat brands in the China market. Photo: Reuters

    MUJI, Japan’s ‘no-brand’ brand, faces copycat challenge

    - May 24, 2019 10:49am
    Japanese retailer MUJI offers simple charms for its unbranded products. The name refers to unbranded good-quality products. MUJI has achieved a big success in Japan and Southeast Asia over the last four decades. However, MUJI is...
  • US President Donald Trump and Chinese President Xi Jinping may yet find a way to resolve their differences. Photo: Reuters

    Investors can turn the trade war into a positive factor

    - May 23, 2019 5:39pm
    Washington’s ban on Huawei has plunged a number of Chinese tech stocks, along with the broader Hong Kong market, to a three-month low. Will the ban slow down China’s 5G development? Will it deal a blow...
  • Trump's proposed additional tariff of 25 percent on Chinese-made footwear would be 'catastrophic' for American consumers, Nike and other US footwear companies warned. Photo: Reuters

    Nike, others urge Trump to remove footwear from tariff list

    May 21, 2019 9:21am
    US footwear companies, including Nike and Under Armour, on Monday urged President Donald Trump to remove footwear from the proposed tariffs list on goods imported from China, Reuters reports. “The proposed additional tariff of 25 percent...
  • Noodle shops are labor-intensive while Japan is suffering from a labor shortage with jobless rate hitting a low of 2.4 percent. Photo: Toridoll

    Japan’s top noodle shop operator to speed up global expansion

    - May 17, 2019 10:46am
    Toridoll, Japan’s largest noodle shop operator, spent an estimatedHK$2.1 billion (US$267.5 million)  to acquire Tam Chai Yunnan Mixianand Tam Jai Samgor Mixian two years ago. That has helped Toridoll snap up 70 percent of the rice noodles...
  • Deliveroo is seeking US$575 million in funding from investors to be able to better compete with rivals. Photo: AFP

    Amazon close to buying stake in UK’s Deliveroo: report

    May 17, 2019 9:31am Inc. is in talks to invest hundreds of millions of pounds in British food delivery app Deliveroo as part of a US$575 million the latter is seeking to raise, Sky News reported. Deliveroo is likely...
  • Luckin Coffee plans to use the IPO proceeds mainly for store network expansion and marketing initiatives. Photo: Bloomberg

    Luckin prices US IPO at top-end, raises US$561 mln: report

    May 17, 2019 9:10am
    Chinese coffee chain Luckin Coffee priced its US initial public offering at the top end of a marketed range and sold more shares than planned, raising US$561 million, Reuters reports, citing sources familiar with the matter....
  • Founded in 2013, British online food delivery company Deliveroo is now present in more than two dozen markets worldwide. Photo: Reuters

    Turning an idea into a successful business

    - May 16, 2019 11:51am
    My motivation for starting Deliveroo was simple: I am passionate about food. Working in New York, I was used to restaurants delivering and being able to get a great selection of food at all times. When...
  • Warren Buffett said he had been “an idiot” for not investing in Amazon himself. Photo: Bloomberg

    Buffett’s Berkshire unveils US$861 mln Amazon stake

    May 16, 2019 9:08am
    Warren Buffett’s Berkshire Hathaway Inc. said it owned US$860.6 million of Inc. shares at the end of March, after the billionaire admitted to underestimating the online retailer and its chief executive Jeff Bezos, Reuters reports....
  • A robotic arm picks up sorting containers while a packing worker (inset) fills a delivery box with products at an Amazon fulfillment center in Baltimore, Maryland. Photo: Reuters

    Amazon rolls out machines that pack orders, replace jobs

    May 14, 2019 9:11am Inc. is rolling out machines to automate a job held by thousands of its workers: boxing up customer orders. The company started adding technology to a handful of warehouses in recent years, which scans goods...
  • AB InBev’s Asia-Pacific region, whose main markets are China and Australia, last year made up 18 percent of the group's volume and 14 percent of the underlying operating profit. Photo: Reuters

    AB InBev’s Asia unit files for Hong Kong IPO, eyes US$5 billion

    May 10, 2019 12:41pm
    The Asia business of Anheuser-Busch InBev, the world’s largest brewer, filed on Friday a draft prospectus for an initial public offering (IPO), which two sources with knowledge of the matter said could be worth at least...
  • Hamleys runs 167 stores across 18 countries, the majority of which are in India. Photo: Bloomberg

    Chinese group sells Hamleys toy stores to India’s Reliance

    May 10, 2019 12:27pm
    Hamleys, the world’s oldest toy retailer, is set to pass from Chinese to Indian control after Reliance Industries Ltd. said it has agreed to buy the British high street icon, Reuters reports. Through its Reliance Brands...
  • Net income hit US$1.5 billion in the theme park unit as more visitors showed up at Walt Disney World in Florida and Hong Kong Disneyland, while occupied hotel nights increased. Photo: CNSA

    Disney parks boost earnings

    May 9, 2019 9:06am
    Walt Disney Co.’s theme parks lifted quarterly earnings past Wall Street targets, helping offset big investments to support the media and entertainment company’s bid to draw audiences to streaming media, Reuters reports. Shares of Disney rose...
  • Tencent has introduced a more patriotic version of PlayerUnknown’s Battlegrounds in China. Photo: Reuters

    Tencent pulls PUBG in China, launches patriotic alternative

    May 8, 2019 5:04pm
    Tencent Holdings Ltd. (00700.HK) on Wednesday shut down its test version of global blockbuster PlayerUnknown’s Battlegrounds in China and shifted users to a similar, more patriotic video game which, unlike PUBG, has regulatory approval to generate...
  • Luckin Coffee currently operates 2,370 stores in 28 Chinese cities and plans to open 2,500 more this year. Photo: Bloomberg

    Luckin Coffee seeks to raise up to US$586.5 million in IPO

    May 7, 2019 7:30am
    Luckin Coffee Inc., the Chinese challenger to Starbucks Corp., is looking to raise up to US$586.5 million, Reuters reports, citing the company’s filing with the US Securities and Exchange Commission. The company said it expects to...
  • Ethan Brown (with beard), founder and CEO of Beyond Meat, rings the opening bell with company executives and guests during the stock's trading debut at the Nasdaq Market site in New York on Thursday. Photo: Reuters

    Beyond Meat share price more than doubles in market debut

    May 3, 2019 8:18am
    Shares of US vegan burger maker Beyond Meat Inc. rose more than 160 percent in their market debut on Thursday, as investors look to cash in on the first publicly listed veggie meat company and the...
  • The US Trade Representative's Office said many of the shoppers at are aware of the proliferation of counterfeit products on the site "but are nevertheless attracted to the low-priced goods on the platform”. Photo: Reuters

    US adds China’s Pinduoduo to ‘notorious markets’ blacklist

    Apr 26, 2019 10:37am
    The United States added China’s third-largest e-commerce platform to its list of “notorious markets” for violations of intellectual property rights and kept China on its priority watch list for piracy and counterfeiting concerns. The US Trade...
  • Amazon said faster shipping will come to customers around the world. Photo: Reuters

    Amazon raises stakes for rivals with one-day delivery goal

    Apr 26, 2019 9:10am Inc plans to deliver packages to members of its loyalty club Prime in just one day, instead of two days, part of a spending ramp-up that may curb near-term profits and will up the ante...
  • 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...

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