Law

Alibaba boosts fight against fakes to lure big brands

Source: 
CNBC

Alibaba has launched an English-language version of its fakes hotline after it signed exclusive deals with international retailers in a push to draw more global brands to its platform. China has gained a reputation for knock-off products and Alibaba has been trying to combat the problem on its own e-commerce sites over the past year.

Toys "R" Us Australia accumulates USD344m in losses

Source: 
The Sydney Morning Herald Online

Toys "R" Us, the self-described "world's first toy supermarket", has racked up accumulated losses of almost AUD450 million (USD343.9m) since arriving in Australia.

The US-based toy and baby products retailer has operated in Australia for more than two decades. It has more than 30 stores, 11 Babies "R" Us Superstores, online operations and about 1600 employees.

Researchers IBISWorld said it had lost market power over the past five years, but was the second-biggest player in the AUD850 million toy and game retailing industry.
 

Target’s closure of Canada stores a ‘difficult’ decision

US-based Target Corporation recently announced that it is closing all its stores in Canada and is about to begin a court-supervised winding down of its Canadian businesses.

Brian Cornell, Target Corporation Chairman and CEO, said the move was a ‘difficult’ decision, but the right one for Target.

“We had great expectations for Canada but our early missteps proved too difficult to overcome,” he said.

Global companies set sights on India's e-commerce market

Source: 
The Hindu Business Line

Indian e-commerce companies may run into more competition in the months ahead with global entities such as Alibaba, Rakuten and Walmart seriously eyeing the Indian market.

Founded by two ex-Amazon employees Sachin and Binny Bansal, Flipkart has been changing its formats and strategy over the last year with Amazon’s entry.

Dick Smith's IPO to open opportunities for investors in Australian electronics business

Australia's largest retailer of consumer electronics products announced plans of listing on the Australian Securities Exchange (ASX).

Dick Smith Holdings Limited (Dick Smith) lodged the prosecutes for the Initial Public Offering (IPO) with the Australian Securities and Investments Commission (ASIC) on Thursday.

Based on a share price of AUD2.20 per share, the company expects the offering to raise AUS344.5 million (USD).

Starbucks to roll out 800 new stores, add over 18000 employees in China for next 3 years

Source: 
The Wall Street Journal Online

After nearly 14 years of working to persuade China to buy into its foreign coffee culture, Starbucks Corp. is aiming to become more Chinese as it plans a rapid expansion in the country.

Belinda Wong, president of Starbucks China, said in an interview that Starbucks aims to roll out 800 new stores in the next three years to add to its existing fleet of 700. Over that period it will increase the number of employees to more than 30,000 from the current 12,000.

Global Retail Theft Barometer Study finds shrinkage in Japan is the 2nd-highest in the world

According to the fifth annual edition of the Global Retail Theft Barometer, retail shrinkage rate in Japan is 1.04 percent of sales, the third-lowest in the world. However, this rate was up 4 percent compared to the previous year. The total shrinkage amount – profit loss due to customer and employee theft, supplier/vendor fraud and administrative errors – in Japan reached JPY774  billion (USD9.96b), the second-highest worldwide, representing almost 53 percent of the total sum in the Asia-Pacific.

HTC plans to lay off 600 employees in Taiwan

Source: 
The Jakarta Post

Taoyuan mayor Cheng Wen-tsan confirmed on Monday that HTC Corp. will lay off 400 people in Taoyuan and that his government will assist HTC workers find new jobs in the high-tech sector.

The New Taipei city government also announced on Monday that it had received a notification from HTC about discharging 200 workers by the end of October at its Xindian facility.

Cheng said HTC had tendered its layoff plan to the Taoyuan government under the Labour Standards Act, and layoffs are expected to be completed before the end of October.

Alibaba CEO tells staff to forget about share price, focus on job

Source: 
CNBC

Alibaba chief executive Daniel Zhang has told employees to "forget about the share price" and focus on their jobs as the group's stock sank below its initial public offering price of USD68 for the first time.

Japan requires companies to set goals in hiring female execs

Source: 
The Jakarta Post

Japanese lawmakers approved a law Friday requiring large employers to set and publicize targets for hiring or promoting women as managers.

The law approved by a vote of 230-1 in the House of Councillors is intended to promote greater gender equality and counter labour shortages that are arising as Japan's population ages and declines.

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