Retail

  Beijing / AFP Taiwan tech-giant Foxconn plans to build an $8.8-billion factory in China, state media said Saturday, amid reports its billionaire boss is cooling off on future US investments. Foxconn, a major Apple supplier, will spend the vast sum on an industrial complex in the sprawling southern city of Guangzhou. The factory will make large-screen liquid crystal displays ...

  Bloomberg Many investors in retail stocks will be happy to see the back of 2016. But not those who bet on Boohoo.com Plc. The online fashion merchant’s shares have soared about 260 percent in 2016 as fashion-conscious youngsters snapped up garments such as bomber jackets and shoulder dresses for 15 pounds ($18.42) apiece. The stock’s rise is the biggest ...

  Bloomberg Kate Spade & Co. shares surged the most in more than two years after Dow Jones reported that the luxury handbag maker is working with bankers to explore a sale of the company. The company has been under pressure from shareholders to find an acquirer amid a failure to boost profit margins. It is working with an investment ...

  Bloomberg US fast-food giant Yum! Brands Inc. plans to refranchise its KFC restaurant business in Turkey as part of a global shift away from owning its own outlets. KFC Turkey will increasingly grow through its franchisees, the Louisville, Kentucky-based company said in an e-mailed response to questions, without providing details. Yum, which also owns the Pizza Hut and Taco ...

  Bloomberg China is looking to draw private investors, including those from outside the country, into its aerospace programme to supplement funding from the government for commercial satellite launches. Investment is welcome for commercial rocket development, satellite research, manufacturing and for applying aerospace technologies to public welfare, Wu Yanhua, vice minister of China National Space Administration, said at a press ...

  Abu Dhabi / Emirates Business UK’s famous vitamin and supplement store – Holland & Barrett has opened retail operations at the ‘Town Square’, the vibrant retail destination within Al Forsan Village. The Town Square will now be home to several ‘community focussed’ brands. These outlets located at the community’s vibrant retail destination is spread across 15,000m. The brands at ...

  Dubai / Emirates Business Joyalukkas, world’s favourite Jeweller, gives its customers more reasons to enjoy the world-famous Dubai Shopping Festival with up to 34 KG gold to be won by 100 winners across the UAE. Shoppers have the opportunity to win half a kilogram of gold first prize and quarter kilogram gold second & third prize in daily raffle ...

  DUBAI / Emirates Business XTOUCH, the leading new age consumer electronics brand announced the launch of its 6-inches HD display screen smartphone, R3. The XTOUCH R3 is designed with sleek and smart look that is so premium with its full-metal body and the 2.5D diamond-cut glass perfectly meets 8.4mm slim edges at the corner. The new big screen smartphone ...

  Bloomberg Consumer spending in the US rose less than forecast in November as after-tax incomes adjusted for inflation declined for the first time since October 2013. Purchases increased 0.2 percent after rising a revised 0.4 percent in October, Commerce Department figures show. The median forecast in a Bloomberg survey called for a 0.3 percent advance. Real disposable income, or ...

  New York / AFP Ikea will pay $50 million to settle with the families of three small children in the US who were killed by dressers that tipped over, attorneys representing the families said. Attorneys from Feldman Shepherd announced the settlement after a two-day mediiation overseen by a federal magistrate judge. The three families will share the $50 million, ...