Hello, dear reader!
Black Friday, America's post-turkey discount day, is finally upon us and the bargain hunt has begun. Britons and Americans are expected to spend billions. In other news, we learn that Amazon is about to expands its footprint in the Middle East, Johnson & Johnson eyes a pharma takeover and Lidl lifts the minimum wage in the UK. Christmas is truly around the corner. Enjoy the read!
asia & Australia
Efficiency measures Courier service company FedEx Express will start delivering online purchases to Hong Kong 7-Eleven stores for pick-ups +++ Bangkok-based import and export firm Berli Jucker has merged MM Mega Market, its wholesale business, with its Big C hypermarket operations and plans to expand in Thailand, Myanmar, Laos, Cambodia, Vietnam and Malaysia.
europe & Middle East
Amazon wants more Initially it was only a stake, now the US e-commerce giant wants to acquire Dubai-based online retailer Souq.com for about US$ 1 billion to expand its footprint in the high-growth Middle East market. In Britain, Amazon Marketplace sellers are predicted to achieve sales of more than GBP 1.8 billion this year.
Survey results Online sales of foods and drinks has made a breakthrough in Sweden, statistics from GFK have revealed. Major Swedish grocery chains, however, aren't very dominant online +++ Russian retailer Lenta has been rated as the number one partner for suppliers in the country according to a study by Advantage.
J&J eyes Swiss drug maker In a bid to expand its pharmaceutical portfolio, US healthcare giant Johnson & Johnson is reportedly interested to buy Switzerland-based biotechnology firm Actelion, which is said to be worth US$ 17 billion. Takeover talks are still at an early stage.
Walmart has to pay Unlike trendsetting discounter Lidl in the UK, the US big box giant intentionally failed to pay hundreds of truck drivers in California the minimum wage according to a federal jury, which awarded the drivers US$ 54 million in damages.
Black Friday activities
Strong start in the US Early US data suggests that online sales during Thanksgiving Day will hit US$ 2 billion for the first time, up 15.6% on 2015. After having enjoyed the turkey, consumers were welcomed to the stores at J.C. Penney and Macy's on Thursday afternoon, although Friday is the official start to the season.
Bargains in Britain Consumers in the UK are expected to spend a whopping GBP 1.3 billion online as Black Friday kicks off the biggest shopping weekend of the year. However, not everyone is joining in. Walmart-company Asda decided to stay away from holiday deals and focus on everyday low prices.