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Shanghai Daily,上海日报

Consumer


Yuan devaluation, slowing GDP no barrier to Chinese travelers

CHINA’S currency devaluation and slowing economy have caused enormous turmoil in world financial markets, but they have not really bothered tourists like Henry Lee. Not yet, at least. “I don’t even know ...

August 31, 2015, Monday


Hard time for Swiss watchmakers

People are seen in a Swiss watchmaker shop in Hong Kong yesterday. Swiss watchmakers are facing turbulent times in one of their top markets, as the already shrinking luxury sales in China are compounded by the recent devaluation of the yuan. — AFP...

August 29, 2015, Saturday


Tiffany forecasts drop in full-year profit

A young girl dressed as Audrey Hepburn’s character in the film “Breakfast at Tiffany’s” walks past the Tiffany & Co store in New York. Luxury jeweler Tiffany yesterday forecast an unexpected decline in full-year profit and said earnings fell about 16 percent again in its second quarter ended on July 31 as higher costs, mainly on innovating new products, overshadowed a recovery in sales. Tiffany said the company expects net earnings to fall 2-5 percent in the year ending in January, compared with its earlier forecast of “minimal growth.” ...

August 28, 2015, Friday


Chinese sales growth seen to halve

Samsonite suitcases are seen in Hong Kong. Luggage maker Samsonite expects its China’s mainland sales growth to halve from the second half of the year, its CEO said yesterday. China sales are expected to grow 15-16 percent on a local currency basis in the second half of the year and beyond, compared with nearly 30 percent growth in the first half, Chief Executive Ramesh Tainwala said. China’s mainland, hit by slowing economic growth, accounts for about 10 percent of Samsonite’s global sales. ...

August 27, 2015, Thursday


‘McWhopper’ mashup in truce bid

THIS probably isn’t what the United Nations had in mind when it established the International Day of Peace: Burger King is asking McDonald’s to join forces to create a “McWhopper.” In full-page newspaper ...

August 27, 2015, Thursday


Stretching investment to tap needs

German specialty chemicals company LANXESS inaugurated a new rubber plant in Changzhou, east China’s Jiangsu Province, which is its largest investment in China so far....

August 26, 2015, Wednesday


Retailer posts unlikely rise in sales

People walk past a Best Buy store in New York. Best Buy, owner of the biggest US electronics chain, reported an unexpected increase in quarterly sales, helped by demand for appliances, TVs and mobile phones. The company’s revenue rose 0.8 percent in the quarter ended August 1, surprising analysts who expected a fall of 2 percent. Best Buy has exited operations in China’s mainland and consolidated those in Canada, leaving it largely dependent on US sales. ...

August 26, 2015, Wednesday


Coca-Cola marks 3-year US$4b China investment

MUHTAR Kent, chairman and chief executive officer of The Coca-Cola Company, yesterday officially marked the beginning of a US$4 billion investment plan for the China market between 2015 and 2017. Commemorated ...

August 22, 2015, Saturday


Brewers tap down resistance to Wall Street

BROOKLYN Brewery, the craft beer maker operating from New York City’s most populous borough, resisted taking money from investment firms for almost three decades, according to founder Steve Hindy. Now ...

August 21, 2015, Friday


Yum Brands names new CEO of China division

YUM Brands, the parent of KFC, Pizza Hut and Taco Bell, is naming a new CEO of its China division as it works to reverse a sales skid in a key market. The company said Micky Pant, 60, is now the CEO of ...

August 20, 2015, Thursday




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