Alibaba co-founder defends controversial 12-hour working days and calls overtime a ‘huge blessing’ April 15, 2019 Alibaba co-founder Jack Ma sparked controversy this afternoon after defending the 12-hour working day. Read more: Ecommerce billionaire named China's richest man The billionaire tycoon, who has a personal wealth estimated at roughly $40bn (£30bn), has doubled down on his view in favour of the “996 system”, which refers to a working schedule of 9am [...]
Britain determined to avoid no-deal Brexit, Jeremy Hunt tells Japanese Prime Minister April 15, 2019 Jeremy Hunt reassured Japanese Prime Minister Shinzo Abe today that the government is determined to avoid crashing out of the European Union without a withdrawal deal. Read more: Jeremy Hunt warns Brexit paralysis could keep Britain in EU On a visit to the Japanese leader’s residence in Tokyo, the foreign secretary said: “We recognise that [...]
Retail and casual dining bounce back in March amid sunny spring weather April 15, 2019 Britain's pubs and restaurants cheered a recovery in trading last month, as warmer weather boosted the nation’s appetite for drinking and eating out. A bounceback from cold, snowy weather last year saw collective like-for-like sales in restaurants and pubs grow by nearly four per cent in March, new data released today by the Coffer Peach [...]
Activist investors turn their backs on troubled retailers April 15, 2019 While activist investors are known for their interest in underperforming businesses, there is one sector in the UK so troubled that even opportunistic shareholders are now turning their backs: high street retailers. Such are the difficulties facing Britain’s bricks-and-mortar retail giants that many have become "too distressed to attract activist interest", according to a new [...]
China is proving a tough market for western brands – here’s the common mistakes that companies keep making April 12, 2019 Last week, the International Monetary Fund upgraded its 2019 growth forecast for the Chinese economy to 6.3 per cent, up from 6.2 per cent. For comparison, the UK economy is only expected to grow 1.2 per cent this year. It’s worth noting these figures, because they highlight why many brands in the UK and elsewhere [...]
China’s mobile brands have global ambitions – this will have a big impact on the digital marketing ecosystem April 12, 2019 With the world’s online mobile population growing day by day, and a home market dominated by giants such as Tencent, Baidu, and Alibaba, Chinese app developers are increasingly looking to market their apps abroad. I have seen first-hand this shift from a focus on the domestic market to a much more global viewpoint. And I [...]
Competition watchdog expresses concern over Rentokil and Mitie merger April 12, 2019 The UK's Competition and Markets Authority (CMA) has warned Rentokil Initial it may have to investigate the company after its completed takeover of Mitie's pest control arm has severely reduced competition in the sector. The competition watchdog has given Rentokil a deadline of April 23 to outline how it will address concerns that prices could [...]
BP becomes last western firm to exit Chinese shale market April 11, 2019 Oil major BP is set to become the last international company to withdraw its Chinese fracking projects, as results fail to live up to expectations, according to reports. The firm follows Shell, Exxon Mobil, Conocophillips and ENI in pulling out of the country, leaving only domestic companies in charge of the sector. Read more: Igas [...]
Carlsberg sparks speculation of new product launch with Twitter marketing campaign April 11, 2019 Carlsberg has quietly launched a tongue-in-cheek marketing campaign on Twitter, sparking speculation the brewer may be gearing up to launch a new product. The Danish firm has begun promoting tweets in which disgruntled customers complain about the quality of Carlsberg’s beer. Read more: Carlsberg cheers hot summer and Chinese sales despite lower growth outlook Comments [...]
Kantar hires Microsoft executive as North America boss April 10, 2019 Market research firm Kantar has appointed Microsoft executive Reed Cundiff as its new chief executive for North America. Read more: Kantar boss suffered punctured lung in Kew stabbing attack Cundiff is taking over from Wayne Levings, who will return to the UK to continue in his role as head of global clients. “Reed understands what [...]