In the shadow of the overpowering presence of Alibaba in China, Amazon is taking a detour to evolve in the market and has rolled out a version of its Japanese site in Chinese. Pepper, the humanoid robot, will soon be operating at some Taiwanese Carrefour stores, its first market outside Japan. In Britain, the supermarket price wars enter yet another round. Enjoy the read.
asia & australia
Sweet deal Italian confectionary brand Ferrero placed a bid to buy Belgian biscuit maker Delacre, which is currently owned by Pladis, a subsidiary of Turkey-based Yildiz Holding.
Metro disappoints The German retail group has reported third quarter results that don't live up to analysts' expectations. Sales shrank 2.7 per cent to €13.6 billion; operating profit fell to €154 million from €209 million. Currency effects were weighing down the results. Metro Group is planning to split up in two companies next summer.
Verizon spends again The telecom company continued its shopping spree after the acquisition of Yahoo with the US$ 2.4 billion purchase of Fleetmatics, which makes software for commercial trucking companies.
Focus on technology Discount chain Target has launched a hiring spree in the tech department. While about 700 engineers were recently hired, there are still about 800 more open tech positions +++ The analytics arm of retailer Kroger has acquired predictive analytics firm Market6, which delivers insights on product movement data.
Walgreens shuts websites The drugstore chain will pull the plug on its websites beauty.com and drugstore.com in favour of focusing on its core website.
Pioneer buys Streamfoods The South African packaged goods company has bought the UK snack maker for GBP 7.5 million to leverage its UK private-label portfolio and its recently upgraded manufacturing capabilities.
Heineken's weak spot While the world's third largest brewer could post a profit for the first half of the year, the results for developing markets were weaker, particularly within Africa, and are expected to weigh down earnings during the rest of 2016.