Melanie's Feed
Apr 21, 2011

Tudou says U.S. IPO still in the works despite wait

SHANGHAI, April 21 (Reuters) – Chinese online video website
Tudou Holdings is still planning to go public in the United
States and is on schedule for its listing, a company spokeswoman
told Reuters on Thursday, after rumours circulated in the market
that the company could be up for sale to a rival.

Tudou filed for an initial public offering in November last
year, seeking to raise up to $120 million to purchase content.
However, its IPO plans were stalled and its rival Youku.com Inc
managed to beat it to the market, soaring in its market
debut. Youku’s stock is now trading at five times its IPO price.

Apr 18, 2011

Nestle agrees to buy 60 percent of Chinese food firm

ZURICH/SHANGHAI, April 18 (Reuters) – Nestle , the
world’s biggest food company, agreed to take a 60 percent stake
in China’s Yinlu Foods Group for an undisclosed price, becoming
the latest multinational to target China’s fast-growing food and
beverage sector.

Family-owned Yinlu had sales of about 750 million Swiss
francs ($839.6 million) in 2010, Nestle said in a statement on
Monday. Nestle did not disclose financial details of the deal
and said it was subject to regulatory approval in China.

Apr 8, 2011

Disney’s Magic Kingdom comes to the Middle Kingdom

SHANGHAI (Reuters) – Walt Disney Co broke ground on its long-awaited Shanghai Disneyland theme park in China’s financial hub on Friday, banking on new attractions to draw millions of visitors and boost its profits in the region.

The Mickey and Minnie Mouse duo kicked off the fanfare dressed in traditional Chinese garb to a cacophony of drums, launching a Magic Kingdom-style park tailored specifically to China.

Apr 6, 2011

Baidu to launch licensed music service in May

SHANGHAI (Reuters) – Baidu Inc, China’s top search engine, will launch a licensed music search service in May, in a move to legitimize its current music search that critics say enables music piracy.

Baidu will launch Baidu Ting sometime in May, said Kaiser Kuo, a Baidu spokesman told Reuters on Wednesday. The service will allow users to stream, download, create libraries of licenced music and will have a social-networking aspect.

Apr 1, 2011

China’s 360buy raises $1.5 billion

SHANGHAI (Reuters) – China’s largest business-to-consumer website 360buy.com said on Friday it has raised a whopping $1.5 billion from a diverse group of investors in its latest round of financing, in preparation for an initial public offering in 2013.

360buy’s latest fundraising comes at a boom time in China’s e-commerce industry that is set to grow at high double digit rates over the next two years, as rising incomes across China boost consumer spending and the number of Internet users soar.

Apr 1, 2011

China’s 360buy raises $1.5 bln, DST invests

SHANGHAI, April 1 (Reuters) – China’s largest
business-to-consumer website 360buy.com said on Friday it has
raised a whopping $1.5 billion from a diverse group of investors
in its latest round of financing, in preparation for an initial
public offering in 2013.

360buy’s latest fundraising comes at a boom time in China’s
e-commerce industry that is set to grow at high double digit
rates over the next two years, as rising incomes across China
boost consumer spending and the number of Internet users soar.

Mar 29, 2011

Sky-mobi revenue growth to be below industry

SHANGHAI, March 29 (Reuters) – China’s Sky-mobi (MOBI.O: Quote, Profile, Research),
the country’s leading mobile application developer, sees its
topline growth rate increasing at a slower pace than the
industry’s this year, as changes to mobile payment hurts the
user experience, a top executive said on Tuesday.

Sky-mobi, which makes most of its revenue by selling mobile
applications from its application store, recently entered the
mobile advertising space via an agreement with one of China’s
leading advertising portals, Sohu.com Inc (SOHU.O: Quote, Profile, Research).
[ID:nL3E7EN2HP]

Mar 28, 2011

P&G, Unilever up China prices and fuel inflation fears

SHANGHAI (Reuters) – Consumer goods giants Procter & Gamble and Unilever will both raise detergent and soap prices in China by up to 15 percent next month, local media reported, underscoring the battle the government faces with inflation.

Policy makers in the world’s second-largest economy have been racing to contain consumer prices, which rose 4.9 percent in February from a year earlier, to prevent inflationary expectations from settling in and contributing to further rises in the prices of everything from broccoli to beer.

Mar 28, 2011

P&G, Unilever up China prices amid inflation worries

SHANGHAI (Reuters) – Consumer goods giants Procter & Gamble (PG.N: Quote, Profile, Research, Stock Buzz) and Unilever (ULVR.L: Quote, Profile, Research, Stock Buzz) will both raise their prices on detergent and soap in China by up to 15 percent next month, local media reported, underscoring the challenges Beijing faces to rein in inflation.

Policy makers in the world’s second-largest economy have been racing to contain consumer prices, which rose 4.9 percent in February from a year earlier, to prevent inflationary expectations from settling in and contributing to further rises in the prices of everything from broccoli to beer.

Mar 28, 2011

P&G, Unilever up China prices, highlights govt inflation task

SHANGHAI, March 28 (Reuters) – Consumer goods giants Procter
& Gamble and Unilever will both raise their
prices on detergent and soap in China by up to 15 percent next
month, local media reported, underscoring the challenges Beijing
faces to rein in inflation.

Policy makers in the world’s second-largest economy have
been racing to contain consumer prices, which rose 4.9 percent
in February from a year earlier, to prevent inflationary
expectations from settling in and contributing to further rises
in the prices of everything from broccoli to beer.