Hello and good day!
US retailer Target is selling its furnishing unit. British High Street chain Poundworld has been snapped up by an American buyout group and Australia's Metcash is considering to get rid of its automotive businesses. Read about these consolidation efforts and do not miss our exclusive article about Aldi's foray in to one of Europe's favourite holiday destinations.
asia & south pacific
Aldi challenges Lidl in Majorca The German discount giant intends to power away on the Mediterranean holiday island in order to catch up with archrival Lidl who has already opened 14 outlets. Aldi wants to kick off with six stores next week. German Retail Blog has the story.
Unite wants to talk job security UK’s largest union has written to supermarket bosses asking for one-to-one meetings to "explore constructive avenues" for securing jobs”. Unite said it had written to Tesco, Asda, Morrisons , Sainsbury’s and more.
usa & Canada
Target sheds furnishing unit America's second largest discount retailer is selling its Target Commercial Interiors subsidiary to Minneapolis-based Omni Workspace Company, commonly known as A&M Business Interior Services.
Avon shares soar after hoax Shares in the cosmetics company Avon rose by 20% after an apparently nonexistent firm offered to buy the company for almost three times its market value. The Securities and Exchange Commission (Paywall) reviews the dubious Avon bid.
75 years of McDonald's What started with one drive-in burger joint in California became an empire with 36,000 restaurants in more than 100 countries. McDonald's turns 75 this week, but the company is likely wishing it had more to celebrate.
Tycoons in Chinese business China's successful entrepreneurs have created some of the world's biggest companies and amassed stunning fortunes, yet they are little known outside of China. Take a look at key figures in Chinese business.