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Consumer


Philips eyes ‘historic’ IPO for lighting arm ‘out of necessity’

DUTCH electronics giant Philips yesterday said it was floating its lighting arm on the stock market in a “historic” initial public offering, after failing for over 18 months to find a buyer. Philips ...

May 4, 2016, Wednesday


Chinese buyer eyes Carlson Hotels

The entrance to Radisson BLU Plaza hotel is seen in Oslo, Norway. A unit of Chinese conglomerate HNA Group has agreed to buy Carlson Hotels, which owns brands including Radisson and Country Inns & Suites, the latest in a flurry of overseas investments by Chinese companies. HNA Tourism Group will acquire all of Carlson, the companies said in a joint statement that did not disclose the purchase price. They said Carlson’s headquarters would remain in Minnetonka, Minnesota in the US, after the deal is completed....

April 29, 2016, Friday


KFC and Baidu team up to honor the “Original+”

KFC opened its first “Original+” concept store on April 25 as part of a collaborative effort with Baidu to be the first restaurant chain to offer services enabled by artificial intelligence. Located ...

April 28, 2016, Thursday


Asian fashion brands challenging Western labels

FASHION brands from China, South Korea and Japan are becoming serious rivals of their Western peers as Asian consumers become increasingly confident in their own style and take pride in buying home-grown ...

April 27, 2016, Wednesday


Coach sees income rise 25%

A shopping bag from the clothing and apparel brand Coach is seen in Beverly Hills, California. Coach Inc, which has been trying to regain its cachet in the luxury handbag market, said yesterday that its net income in the quarter through March 26 rose more than 25 percent to US$112.5 million, spurred by demand in China and Europe. ...

April 27, 2016, Wednesday


Philips’ profits slump 63% in Q1 on high tax bill

ELECTRONICS giant Philips yesterday posted a 63 percent slump in first-quarter profits for 2016, blaming the fall on a high tax bill incurred for a major company restructuring. It also confirmed its ...

April 26, 2016, Tuesday


Ctrip ties up with China Eastern

Ctrip.com will invest 3 billion yuan (US$463 million) in China Eastern Airlines and they will cooperate in selling air tickets and operating a budget carrier, the partners said yesterday....

April 22, 2016, Friday


Coca-Cola breaks ground for green bottling plant

COCA-COLA (Yunnan) Beverage Co yesterday officially began construction of a new eco-friendly plant in Kunming City, Yunnan Province. The new facility will replace a plant currently in operation in Kunming, ...

April 22, 2016, Friday


Profit in Q1 sees less bubbles

Coca-Cola bottles are on an assembly line at a Coca-Cola bottling plant in Castanet-Tolosan, France. Coca-Cola reported a dip in first-quarter profit yesterday as the strong US dollar weighed on results in some of its overseas markets. Net income for the quarter ending on April 1 was US$1.5 billion, down 4.8 percent from the year-ago period. Revenues fell 4 percent to US$10.3 billion....

April 21, 2016, Thursday


Kidman ‘prefers’ Chinese buyout

AUSTRALIAN cattle company S. Kidman & Co said yesterday that a Chinese-led consortium was the preferred buyer of most of its stations, with an offer worth A$370.7 million (US$288.9 million). Australia’s ...

April 20, 2016, Wednesday




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