Law & Trade
Lawyers launching a class action in Australia over claims Vodafone did not offer a reliable mobile phone network will seek at least AUD2.5 million (USD2.6m) on behalf of thousands of customers.
Law firm Piper Alderman announced on Tuesday it would go ahead with the long-mooted class action after it secured funding from Litigation Fund LCM to sue the telco.
Department store stocks were hammered on the first trading day after China's week-long Lunar New Year break amid concerns that Beijing's crackdown on "gift giving" may further hurt high-end retail sales.
Aeon Stores (Hong Kong), the operator of more than 50 department stores and supermarkets in Hong Kong and south China, is expected to record "a significant decrease" in net profit due to less operating revenue, growing costs of new store openings and rising impairment losses in fixed assets.
Australia's Speciality Fashion Group CEO Gary Perlstein has labelled the decision by Prime Minister Julia Gillard to announce this year's election eight months out an ''absolute disaster'' for retail.
He said the early election call only added to the challenging trading environment that retailers such as Specialty Fashion Group were already facing. The group owns a portfolio of fashion banners including Millers, Katies and Crossroads.
The Indonesian Trade Ministry has introduced its latest regulation on restaurant franchising in a move to avert monopolies in the business and endorse greater participation from local players through third-party ownership.
The regulation limits a single master franchisee to owning a maximum of 250 outlets. If the franchisee wants to open more outlets it must invite a third party to join the ownership. Any franchisees that currently run more than 250 outlets need to adjust to the regulation within five years.
US-based retailer Wal-Mart Stores Inc., which has been so secretive about its IT outsourcing services sourcing partners, disclosed for the first time their names on Thursday, Addressing a session at the Nasscom Leadership Summit in Mumbai on Thursday, Walmart CIO Karenann Terrell said the company works with Indian IT vendors such as TCS, Infosys, Wipro, Cognizant and Kochi-based UST Global apart from its global companies like IBM, Accenture and Softech.
Global technology giants Microsoft, Apple and Adobe were Monday ordered to appear before a pricing inquiry examining the often-higher cost of tech goods in Australia compared with other economies.
The upcoming budget in India is causing concern since off-the-record briefings signal that the government is going to increase taxes for the nation’s wealthiest elite. Critics say such a move will stifle growth in a country that has seen the economy flounder recently. Supporters say the rich should ‘pay their fair share’ as the government looks to increase its tax revenues from fresh sources as the gap grows between money coming in and spending.
Alibaba, the Chinese largest e-commerce firm, is suing four Hong Kong companies for trademark infringement.
The group is suing Alipay Limited, a company that shares the same name as the online payment tool that customers of Alibaba use.
Alibaba, which runs the popular online shipping site Taobao, is suing Officeplus Company for using the Chinese characters for Taobao in its company name.
Two dominant supermarket chains in Hong Kong, ParknShop and Wellcome, last year were forced to deny accusations of collusion following a study by the Federation of Trade Unions, which accused them of shifting prices up and down in tandem at some of their stores.
But a glimmer of hope for shoppers arrived in June, with the passing of the city's first Competition Law after more than a decade of wrangling. Now, the question turns to what impact the law will have – when the bodies set up to enforce it finally takes shape.
Apple Inc, known for aggressively protecting its iPads and iPhones from copycats, is doing the same for the interior design of its stores.
The US Patent and Trademark Office granted Apple's request last week for trademarks on the minimalist design and layout of its retail outlets, the office's records show.
The description of the trademarks includes "a clear glass storefront surrounded by a panelled facade" and, within the store, an "oblong table with stools...set below video screens flush mounted on the back wall."