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Bloomberg Mondelez International Inc, which rode the pandemic snacking boom to boost online sales of cookies and candy, says the retail trend will continue to grow even after mobility restrictions are lifted as people have become accustomed to using their digital devices to shop for food. Consumers who were stuck at home became more savvy at using e-commerce channels to ...
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November, 2021
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16 November
H&M’s tech chief wants clothes to compete with wearables
Bloomberg H&M’s chief technology officer is trying to make smart clothing mainstream, at a time when clothing manufacturers are struggling with complex supply chains and environmental pressure. Alan Boehme is examining how H&M’s clothes could monitor your heart rate or hydration levels, and how artificial intelligence could shrink H&M’s supply chain, potentially decreasing the company’s carbon footprint. H&M couldn’t keep ...
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16 November
Coach says it’s in China’s middle-class sweet spot
Bloomberg The owner of Coach says its strong sales in China aren’t under threat from President Xi Jinping’s push to narrow his country’s wealth gap because the brand’s customers are mainly middle class. “We do think we’re at an advantaged position with the policies,†said Joanne Crevoiserat, the CEO of Coach’s parent, Tapestry. “We see further strengthening of the middle class.†...
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16 November
India’s Future urges to quash Amazon deal
Bloomberg Future Retail Ltd’s independent directors have urged India’s antitrust body to revoke its approval of a 2019 deal between one of its group companies and an Amazon.com Inc unit, saying the American retailer lied to the regulator. Amazon obtained the Competition Commission of India’s approval for its purchase of 49% of Future Coupons Pvt with an option to buy ...
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16 November
US, China seek to stabilise ties with Biden-Xi summit
Bloomberg US President Joe Biden and Chinese leader Xi Jinping have plenty to discuss during their first virtual summit — from sanctions to Taiwan — even as expectations for a breakthrough on major issues are low. A Biden administration official said the US expects the virtual summit in Washington to last several hours, a time frame that includes translation for ...
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16 November
Nato chief alarmed by Russian troop buildup near Ukraine border
Bloomberg The head of the North Atlantic Treaty Organisation (Nato) military alliance urged Russia to prevent any escalation in the wake of its build-up of forces near the border with Ukraine. “What we see is a significant, large Russian military build-up, we see an unusual concentration of troops and we know Russia has been willing to use these types of ...
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16 November
China rolls over $157b policy loans before economic data
Bloomberg A reduction in China’s reserve requirement ratio looks increasingly unlikely after the authorities rolled over all policy loans coming due and data surprised on the upside, suggesting that bonds will have little room to gain. The People’s Bank of China (PBOC) injected 1 trillion yuan ($157 billion) through its medium-term lending facility on Monday, matching the record amount maturing ...
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16 November
Credit Suisse Bermuda trial may lift lid on rogue banker’s fraud scheme
Bloomberg An offshore unit of Credit Suisse Group AG goes to court in a case that could lift the lid on how a rogue Geneva employee got away with defrauding some of the firm’s richest clients for nearly a decade. Georgian billionaire and former prime minister Bidzina Ivanishvili accuses Credit Suisse Life (Bermuda) Ltd of failing to stop the late ...
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16 November
UBS Asian money managers exit amid fund loses
Bloomberg Two UBS Group AG portfolio managers are leaving after a $3 billion fund got caught up in China’s high-yield bond meltdown. Singapore-based Jiayi Yew and China-based Brian Lou will depart the bank in January, a UBS spokesperson confirmed. Both report to Ross Dilkes, the lead manager of the Asian High Yield fund who is also leaving the firm after ...
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16 November
Stocks mixed as risks shadow China’s steadier growth
Bloomberg Asian stocks were mixed on Monday amid data showing steadier economic growth in China as well as ongoing challenges in the nation’s troubled property sector. Treasuries were steady and the dollar slipped. Shares fluctuated in Hong Kong and dipped in China, where traders weighed stronger-than-expected retail sales and industrial output, central bank liquidity support and a drop in home ...
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