Thirteen minutes after he placed his order, a customer in England received his drone-delivered purchase from US e-commerce giant Amazon. Shoprite and Steinhoff announced a planned merger into the largest retailer in Africa. In Australia, Payless Shoes follows Dick Smith, Masters and Pumpkin Patch in a series of store closures, which has led to a considerable number of job losses on the continent. Find out about these stories and more. Enjoy the read!
Asia & Australia
Bust Payless Shoes As the administrators failed to find a buyer for the shoe retailer, Payless Shoes has started a fire sale before the closure of the chain's 132 stores in February next year, which will see about 730 staff losing their jobs.
Brexit hits According to a survey, trade between the US and the UK will suffer severely from Brexit with nearly 40% of US firms considering moving their British office to the EU and two-thirds saying the vote is impacting investment choices. Toymaker Lego announced a 5% price hike in the UK in 2017 as a consequence of the Brexit vote.
USA & Canada
Doing business in Canada Seeking approval from the Canadian competition authority to buy pharmany chain Rexall Health in a US$ 3 billion-deal, US health care company McKesson has agreed to sell 28 drugstores. US wholesaler Costco will open its first Canadian business centre in Toronto next year.
Kohl's downsizes marathon In the final run-up to Christmas, the American department store chain will be open for 107 hours straight, compared to 170 hours last year.
Rescue package for Uchumi In yet another government-backed rescue plan for the ailing Kenyan supermarket chain, the country's Treasury has lined up a KES 500 million cash bailout.