Law & Trade
The United States on Wednesday named China the leading place for physical markets selling counterfeit goods, while websites in Europe, South America and Canada led in online sales of fakes. US Trade Representative Michael Froman said the Notorious Markets List for 2013 highlights markets that allegedly harm US businesses and jobs by infringing on intellectual property rights.
Buynow PC Malls, a chain of 22 personal computer malls across China, are a source of pirated movies, games, and software, according to the report.
Consumer complaints in Hong Kong soared to a four-year high in 2013 as more consumers were aware of the newly amended Trade Descriptions Ordinance (TDO) which came into enforcement in July, Hong Kong Consumer Council said on Thursday.
A total of 30,006 complaints were filed with the Consumer Council, up 10 percent from 2012.
After supermarket giant Walmart, it is online retail major Amazon which has begun lobbying with the US lawmakers to seek their support for facilitating its “foreign direct investment in India“.
Major Japanese e-commerce firm Kenko.com Inc. sued the government on Monday over legislation enacted last month to restrict online sales of certain over-the-counter drugs, calling the new rule an "unconstitutional" impingement on freedom of business.
Kenko.com filed the suit with the Tokyo District Court, seeking an injunction to have the restriction revoked.
The Japanese Fair Trade Commission (FTC) has instructed 10 major retailers not to force their clothing suppliers to shoulder the cost of new price tags that will be needed to reflect the consumption tax hike in April.
When placing orders for clothing and price tags, the retailers usually ask the suppliers to bear the cost of the tags, the anti-monopoly watchdog said.
The massive data breach at US retailer Target is probably linked to a broader global network of cybercrime that may have affected other merchants, security researchers said. US security firm iSight Partners concluded that the hackers who stole data on as many as 110 million Target customers comes from “a new piece of malicious software,” which “has potentially infected a large number of retail information systems,” according to a statement from the company, which has been working with US authorities.
Luxury goods group Richemont, whose stable of brands includes jewellers Cartier and Van Cleef & Arpels, has applied to open shops in India, joining other global retailers who entered the market since New Delhi relaxed investment rules.
The entry could be a boost for the country's luxury retail sector, which represents a tiny fraction of global luxury brands' sales but has a fast-rising number of wealthy people.
China's regulators launched probes into skincare products maker Nu Skin Enterprises Inc after local media questioned the US company's business practices, dragging down shares of several retailers that use similar distribution models.
Earlier Thursday, the Xinhua news agency said the State Administration for Industry and Commerce (SAIC) ordered local authorities to investigate a report in Communist Party mouthpiece, the People's Daily, alleging Nu Skin had been exaggerating its influence and creditworthiness in brochures and organizing "brainwashing" gatherings.
Apple will refund customers at least USD32.5 million after a settlement with the US Federal Trade Commission.
The refund agreement settles long-standing complaints over in-app purchases made by children without their parents' consent.
Apple will also be required to change its billing procedures to make sure customers have given consent before they are charged for in-app purchases.
US retail giant Walmart has asked the Indian government to reduce the mandatory local sourcing norm to 15 percent, saying it cannot meet the stipulated level required to open multi-brand stores in India.
Walmart's demand comes after the government diluted the contentious sourcing clause last year to allow foreign multi-brand retailers that want to set up stores in India to procure 30 percent of their products from small and medium enterprises only at the of start of business.