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The Body Shop sold to Brazilian firm

The Body Shop sold to Brazilian firm

The logo of British cosmetics and skin care company The Body Shop is seen outside a store in Vienna, Austria. French beauty-product giant L’Oreal yesterday said it had signed a contract to sell The Body Shop, which it has owned for over a decade, to Brazil’s Natura Cosmeticos for 1 billion euros (US$1.1 billion). The proposed sale is subject to clearance by antitrust authorities notably in Brazil and in the United States, and expected to close during 2017, L’Oreal said. ...

June 28, 2017, Wednesday


EU fines Google a record US$2.7b

EU fines Google a record US$2.7b

THE European Union slapped a record 2.42-billion-euro (US$2.7 billion) fine on Internet giant Google yesterday for taking advantage of its dominance in online searches to direct customers to its own online ...

June 28, 2017, Wednesday


Doubtful on Trump, IMF cuts US outlook

Doubtful on Trump, IMF cuts US outlook

THE lack of details on President Donald Trump’s plans to reform the US economy prompted the International Monetary Fund yesterday to cut its growth forecast for this year and next. The IMF in January ...

June 28, 2017, Wednesday


Industrial profit growth up in May

Industrial profit growth up in May

CHINA’S major industrial companies posted faster profit growth in May, supported by larger sales and better investment returns, the National Bureau of Statistics said yesterday. Industrial companies ...

Feng Jianmin | June 28, 2017, Wednesday


Amazon and China Mobile seal Kindle deal

Amazon and China Mobile seal Kindle deal

AMAZON and China Mobile yesterday announced a new partnership in digital reading, including content sharing and kicking off a co-branded Kindle. The new Kindle X Migu E-reader, features 460,000 Kindle ...

Zhu Shenshen | June 28, 2017, Wednesday

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Best plans US$750m IPO

Best plans US$750m IPO

A man rides an electric delivery vehicle of Best Inc in Beijing yesterday. The Chinese logistics company backed by Alibaba Group aims to raise up to US$750 million from an initial public offering in the United States, betting an e-commerce boom in China will spur demand for its package delivery services and supply chain technology. The company said in a securities filing that it planned to raise the money by listing on the New York Stock Exchange or the Nasdaq. — Reuters...

June 28, 2017, Wednesday


Trade with NZ fast-tracked

Trade with NZ fast-tracked

Traders in China and New Zealand will see customs clearance time cut by as much as half from next month when a mutual recognition agreement takes effect, the General Administration of Customs said yesterday. Holders ...

Feng Jianmin | June 28, 2017, Wednesday


Shanghai tops charts in dining out stakes

Shanghai tops charts in dining out stakes

SHANGHAI tops other cities in a dining consumption index, while Guangdong, Shandong and Jiangsu provinces top the rankings in terms of absolute transaction value, according to data compiled by Alibaba’s ...

Ding Yining | June 28, 2017, Wednesday


New zones to finance ‘war on pollution’

New zones to finance ‘war on pollution’

CHINA has launched five pilot zones to promote “green finance” and help pay for a war on pollution that is expected to cost at least 3 trillion yuan (US$440 billion) a year, according to notices published ...

June 28, 2017, Wednesday


Bohai Bank readies for listing

Bohai Bank readies for listing

CHINA Bohai Bank, one of the country’s 12 national joint-stock banks, is preparing for an initial public offering, Chairman Li Fuan said yesterday at the World Economic Forum in the northeastern city ...

June 28, 2017, Wednesday


DJI eyes agriculture industry

DJI eyes agriculture industry

DJI plans to expand in the agriculture industry in China with a new partnership with Dow Agrosciences to improve training and logistics services in the industrial drone sector, the world’s biggest drone ...

Rich Zhu | June 28, 2017, Wednesday


China opens up to foreign business

China opens up to foreign business

CHINA is to increase access to the service and manufacturing sectors, relax restrictions on foreign ownership and treat Chinese and foreign companies on an equal basis, Premier Li Keqiang said yesterday. He ...

June 28, 2017, Wednesday


Self-driving cars: ‘living room on wheels’

Self-driving cars: ‘living room on wheels’

IT’S not just the driver’s seat that will undergo radical change as self-driving cars hit the roadways of the future. The whole interior of autonomous vehicles will undergo a makeover as well. Imagine ...

Hu Yumo | June 28, 2017, Wednesday


China Telecom’s new IoT platform

China Telecom’s new IoT platform

CHINA Telecom launched a global IoT (Internet of Things) platform today in Shanghai, covering regions involved in “Belt and Road” initiative as the carrier aimed to grab business opportunities of IoT ...

Zhu Shenshen | June 27, 2017, Tuesday


More to read on digital devices

More to read on digital devices

AMAZON and China Mobile announced today in Shanghai to cooperate on contents and payment services. The two companies will offer Kindle X Migu E-reader, which features 460,000 Kindle eBooks from the Kindle ...

Zhu Shenshen | June 27, 2017, Tuesday


 

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