Law

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.

Paytm looks to double headcount in FY16

Source: 
Business Standard

With most players in the sector looking to aggressively ramp up their teams, Indian mobile commerce platform Paytm plans to double its employee base in FY16 from around 3,000 currently. The company has added around 1,500 persons to its total headcount in FY15.

Yahoo China staff in hot demand

Source: 
The Jakarta Post

Yahoo Inc's announcement last week that it was shutting up shop in the Chinese mainland has seen a rush by Internet companies across the country to attract its staff.

As China's booming Internet industry continues to gain momentum, companies are competing fiercely for the best talent.

Japan wage hikes: Are they enough?

Source: 
CNBC

Japan's spring wage negotiations yielded strong results this year, but economists are questioning whether it will be sufficient to help lift the country out of its economic mire.

Employees to get 6-8pc salary increase in China this year

Source: 
Shanghai Daily

Employees can expect to get a salary increase of between 6 and 8 percent in China this year, with the internet sector most willing to offer pay rises to attract top talent, human resource agency Morgan McKinley said in a report on Thursday.

Due to slower economic growth this year, the agency predicted salaries in general to rise between 6 and 8 percent, but the increase could be larger for experts and job-hoppers.

Local Internet companies are most willing to offer a high pay rise to lure highly sought-after expertise.
 

Starbucks teams up with Tingyi to expand ready-to-drink products in China

Starbucks and Chinese leading food and beverage producer Tingyi Holding Corp. (Tingyi) said on Thursday they have entered into an agreement to manufacture and expand the distribution of Starbucks ready-to-drink (RTD) products throughout mainland China.

According to the agreement, Starbucks will be responsible for providing coffee expertise, brand development and future product innovation, and Tingyi will manufacture and sell Starbucks RTD portfolio in China.

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