For a long while, Waitrose seemed to leave the supermarket wars in the UK to be fought between the big fours and the discounters, but now results might have it otherwise. While the US celebrates Independence Day, the battle over credit cards in the country has heated up even more. In China, Alibaba is taking action as accusations rose that the e-tailer is not doing enough in its battle against fake goods. Enjoy the read.
Asia & Australia
J.C. Penney hires in India The US department store chain is developing a new IT facility in Bengaluru, where it will employ 450 staff by the end of the year and about 1,000 when fully open. The South-Indian city which is known as the information technology hub of the country is facing competiton from Delhi NCR in this role.
Hardware decision pushed back The Australian Competition and Consumer Commission postponed a decision on Metcash’s proposed AU$ 250 million acquisition of Woolworths' Home Timber & Hardware chain.
Waitrose profits slump The British supermarket chain, which had been believed to be largely unaffected by the price wars in the country, has now reported a 17% fall in annual profits and warns of 'exceptionally tough' conditions.
Pet-food merger C&D Foods, the pet-food division of Irish food processing company ABP, has purchased French pet-food manufacturer Continentale Nutrition. The acquisition makes C&D Foods Europe's largest private-label pet-food company.
Magnit gets unpopular As rising competition takes its toll on Magnit’s sales growth, the foreign investors of Russia's largest retailer are hunting for a better investment +++ Turkish food exports are allowed back on Russian shelves as the embargo comes to an end.
Billion-dollar acquisitions US conglomerate Honeywell spends US$ 1.5 billion to purchase logistics company Intelligrated from UK buyout firm Permira, as it hopes to tap into fast growth for fulfillment centres spurred by online commerce +++ Packaging manufacturer Ball becomes the world's largest manufacturer of beverage cans as it completes its acquisition of Rexam.
Kenya on the rise The Oxford Business Group sees the East-African country's dramatic rise in formal retail space, which has helped attract new foreign investors in the sector, to highlight the potential of Kenya's retail sector.