Hello, dear reader!
Last week it was expected, now it has been confirmed that Newell Rubbermaid has acquired its rival and another billion-dollar deal is sealed. In Australia, Aldi, Woolies and Coles are caught up in a slave labour scandal. India is about to create its very own Alibaba platform and European retailers are seeking new sources for growth. These stories and more feature in today's issue. Enjoy the read.
asia & south pacific
Aussie retailers amid slavery scandal Aldi, Woolies and Coles have admitted to selling seafood from a Thai company accused of using slave labour. All three said that they took the issue of forced labour seriously and will launch investigations. In other news, Woolworths announced that it has renewed its reward scheme partnership with Qantas.
Drug giant misleads Down Under The Federal Court has ordered Reckitt Benckiser to remove several versions of popular painkiller Nurofen from stores in Australia after ruling that the company misled consumers about their effectiveness.
IFE China International Food Expo
As the most accredited platform beneficial for trade and business, IFE China attracted 1378 exhibiting companies and 50,000 buyers join together IFE 2015. IFE China concentrates on importing foods into China, which provide professional, efficient, economical service, providing a platform for the exporters to show their company and food product. For more details:
Online marketplace for exporters India plans to set up an international business-to-business e-commerce platform for the country's manufacturers and exporters, based on the Alibaba-model. Over in China, search engine giant Baidu aims to put self-driving buses on the road in three years.
Destination Maternity rejects takeover The nation’s largest retailer of maternity apparel has turned down an offer from French children’s clothing company Orchestra-Premaman for a 13.1% stake in the US firm, saying the request was not in the best interests of its shareholders.
Sales down Luxury fashion retailer Neiman Marcus Group reports a decline in same-store sales for the first time in six years +++ Price-point retailer chain 99 Cents Only posts a 3% decrease in same-store sales due to challenges in produce and consumables sales.
Logistics deal in Uganda DHL Express, one of the leading international express services provider and fuel retailer Total Uganda have signed a partnership agreement to provide customers with better access to global express services. The project will be rolled out in phases.
Pick n Pay grows outside SA The Cape Town-based retailer and its Zimbabwean partner TM Supermarkets have continued to grow their footprint and revenue in Zimbabwe despite the challenges. In Nambia, Pick n Pay has teamed up with the Recycle Forum to offer reusable shopping bags in all its stores.
Tiger Brands exits Nigeria South Africa's largest food producer, Tiger Brands, has reached an agreement to sell its loss-making Nigerian divison to conglomerate Dangote Industries, which is said to pay US$ 50 million for it immediately.