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Delivery companies Fedex, UPS and DHL are investing full speed in Europe, taking advantage of the weak euro. Over in the US, discount giant Lidl is steaming ahead with its market entry plans, and in Japan, e-commerce major Rakuten has acquired travel start-up Voyagin. Enjoy the read and have a great weekend.
asia & australasia
Market expansions in Japan E-commerce giant Rakuten has acquired more than 50% of Tokyo-based travel start-up company Voyagin +++ Watchmaker Casio is looking to enter the smartwatch market, hoping that its expertise as a watchmaker will help it outdo the likes of Apple.
Xiaomi sales hit the brakes China's top smartphone maker also feels the stiff competition from Apple and reported lower semi-annual sales. They rose just 33%, which is a drastic decline after the explosive 230% growth for all of 2014.
Carriers move full speed ahead Fedex, United Parcel Service (UPS) and DHL have increased efforts to expand their operations in Europe to take advantage of a weak euro. Fedex is still seeking approval for its acquisition of TNT, which is said to be decided by European Union antitrust regulators on Aug. 3.
usa & Canada
Electrolux deal in jeopardy The US Justice Department has filed a lawsuit to stop Electrolux from buying General Electric's appliance business. It said the US$ 3.3 billion deal would hurt competition. However, the Swedish manufacturer is confident that once it presents its case to a neutral judge, the deal will get the green light.
More acquisition plans Brazil-based JBS, the world's largest meatpacker, is set to acquire Cargill’s pork business in a deal worth US$ 1.45 billion +++ Payment provider Paypal says it plans to buy digital money transfer provider Xoom Corp for US$ 890 million as it expands in countries like Mexico, India and China.
developments to watch
Online grocery forecasts With a current value of US$ 15 billion, the UK online grocery market is the second largest in the world and set to reach an estimated US$ 28 billion by 2020. China's online grocery sales are predicted to grow five-fold between now and 2020 – from the current US$ 41 billion to about US$ 180 billion.
M & S studies climate change Soaring temperatures and other extreme conditions caused by climate change represent a serious threat to retailers according to Marks & Spencer. Now it has launched a study to see how it can protect its most valuable stores from the impact of extreme weather.