Melanie's Feed
Oct 19, 2011

China state TV recasts spotlight on Apple suppliers’ pollution

SHANGHAI/TAIPEI (Reuters) – Some of Apple Inc’s suppliers in China have once again come under scrutiny, with state broadcaster China Central Television (CCTV) accusing them of causing pollution.

Taiwan media gave prominent play on Wednesday to an investigative report aired on Sunday in which CCTV reporters visited a few suppliers that Chinese environmental groups in August had said were thought to be doing business with Apple and had lax environmental standards.

Oct 19, 2011

China state TV recasts spotlight on Apple suppliers’ pollution problems

SHANGHAI/TAIPEI, Oct 19 (Reuters) – Some of Apple Inc’s
suppliers in China have once again come under scrutiny,
with state broadcaster China Central Television (CCTV) accusing
them of causing pollution.

Taiwan media gave prominent play on Wednesday to an
investigative report aired on Sunday in which CCTV reporters
visited a few suppliers that Chinese environmental groups in
August had said were thought to be doing business with Apple and
had lax environmental standards.

Oct 18, 2011

InterContinental Hotels in 12 new China brand deals

SHANGHAI (Reuters) – InterContinental Hotels Group (IHG.L: Quote, Profile, Research, Stock Buzz) (IHG.L: Quote, Profile, Research, Stock Buzz) has signed 12 contracts for its new China hotel brand with the first opening of the new brand expected in late 2012 or early 2013, its China head said on Tuesday.

IHG also intends to expand the China branded hotel overseas in 2-3 years to cater to Chinese tourists abroad, said Keith Barr, IHG’s chief executive for the Greater China region.

Oct 18, 2011

InterContinental Hotels in 12 new China brand deals: China head

SHANGHAI (Reuters) – InterContinental Hotels Group (IHG.L: Quote, Profile, Research, Stock Buzz) (IHG) has signed 12 contracts for its new China hotel brand with the first opening of the new brand expected in late 2012 or early 2013, its China head said on Tuesday.

IHG also intends to expand the China branded hotel overseas in 2-3 years to cater to Chinese tourists abroad, said Keith Barr, IHG’s chief executive for the Greater China region.

Oct 17, 2011

Wal-Mart China CEO quits as retailer grapples with

SHANGHAI/HONG KONG (Reuters) – The head of Wal-Mart Stores Inc’s (WMT.N: Quote, Profile, Research, Stock Buzz) China business has resigned citing personal reasons, after the world’s largest retailer ran into trouble with Chinese authorities leading to store closures and employee detentions.

The departure of China CEO Ed Chan, along with Senior Vice President of Human Resources Clara Wong, is another setback for Wal-Mart which is facing stiff competition from local firms in the strategically important market.

Oct 17, 2011

Wal-Mart China CEO quits as retailer grapples with pork scandal

SHANGHAI/HONG KONG (Reuters) – The head of Wal-Mart Stores Inc’s (WMT.N: Quote, Profile, Research, Stock Buzz) China business has resigned citing personal reasons, after the world’s largest retailer ran into trouble with Chinese authorities leading to store closures and employee detentions.

The departure of China CEO Ed Chan, along with Senior Vice President of Human Resources Clara Wong, is another setback for Wal-Mart which is facing stiff competition from local firms in the strategically important market.

Oct 15, 2011

China’s Wen pledges stable yuan to exporters: report

SHANGHAI (Reuters) – Chinese Premier Wen Jiabao said China’s exchange rate would remain stable to protect exporters, the official Xinhua news agency reported.

Wen said on Saturday “a basically stable exchange rate” would help maintain a steady level of exports and enhance business confidence, China’s state radio reported.

Oct 15, 2011

China’s Wen pledges stable yuan to exporters-Xinhua

SHANGHAI, Oct 15 (Reuters) – Chinese Premier Wen Jiabao said
China’s exchange rate would remain stable to protect exporters,
the official Xinhua news agency reported.

Wen said on Saturday “a basically stable exchange rate”
would help maintain a steady level of exports and enhance
business confidence, China’s state radio reported.

Oct 15, 2011

China’s oil demand growth slows further in Q3 – NDRC

BEIJING/SHANGHAI (Reuters) – China’s apparent oil demand growth slowed further in the third quarter, largely in line with economic growth in the world’s second-largest economy amid domestic policy constraints and global uncertainties.

The National Development and Reform Commission said on Saturday that apparent oil consumption grew only 3.2 percent from a year earlier in the third quarter, down from the 5 percent rise in second quarter and 9.3 percent in the first quarter.

Oct 14, 2011

Wal-Mart’s pork scandal highlights struggles in China

SHANGHAI (Reuters) – Wal-Mart’s latest troubles in China involving mislabeling of its pork products reflect the retail giant’s struggles in a complex market where rapid expansion and a cumbersome takeover has marred profit and growth.

After entering China in 1996, its expansion gathered steam in 2007 when the world’s largest retailer bought a 35 percent stake in Taiwanese hypermarket chain Trust-Mart. It had 346 stores in the mainland as of end-August.