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What will the luxury market in APAC look like after coronavirus?

The Drum 21 May 2020 01:00 AM Sales categories like clothing and dining out are still in decline and even cosmetics have only seen a marginal lift. As China and wider Asia Pacific continues in recovery from the coronavirus pandemic, consumers will likely resume their normal levels of spending, but they will be more selective in the way they spend on luxury brands, according to experts.However, luxury brands that have not invested into consistent brand building, to create meaningful differentiation and desirability, will hav

Digiday Media Awards: Expanding revenue and driving engagement, these media companies are highlight nominees

Digiday 19 May 2020 06:30 PM May 19, 2020 by Digiday Awards In a time of turmoil for media companies, this year’s Digiday Media Awards are marked by the vital decisions made by our shortlist of nominees across the course of 2019 — a range of strategies and tactics bound to augment and strengthen their businesses in the face of a rapidly changing marketplace. When it comes to this year’s shortlist, in the months before everything changed, these media leaders were already expanding their approaches to revenue and diversifyin

Hitting the road again: How Chinese travelers are thinking about their first trip after COVID-19

McKinsey 14 May 2020 12:00 AM Downloadable Resources Open interactive popup Article (PDF-2MB) The global travel sector has taken a catastrophic hit as a result of the COVID-19 pandemic, which continues to keep most of the world in lockdown, and away from resorts and tourist hotspots. As China’s economy emerges from the stasis engendered by coronavirus containment measures, it is important to understand how long it will take for consumers to regain the confidence to leave their homes for leisure travel. With this in mind, we

Adapting to the next normal in retail: The customer experience imperative

McKinsey 14 May 2020 12:00 AM Downloadable Resources Open interactive popup Article (PDF-752KB) The COVID-19 pandemic has upended the retail industry, forcing the closure of physical stores and causing uncertainty for the future of the in-store experience. These abrupt shifts have left many retailers scrambling to effectively serve customers through other channels. Digital-first and omnichannel retailers have pivoted more easily, but retailers that prioritized physical stores and face-to-face engagement over omnichannel str

COVID-19: Implications for business

McKinsey 13 May 2020 12:00 AM COVID-19: Briefing note, May 13, 2020Emerging evidence provides some tantalizing glimpses into the epidemiology of the global pandemic. By Matt Craven, Mihir Mysore, and Matthew Wilson Downloadable Resources Open interactive popup Article (PDF-993KB) Full Report (PDF-3MB) As the reopening of economies continues across much of Europe and North America, it’s worth taking stock of the epidemiological situation and trends that will define the months ahead. At the time of this writing, the official c

China’s smartphone shipments are reportedly up for April, following COVID-19-fueled decline

Tech Crunch 12 May 2020 04:00 PM TechCrunch is part of Verizon Media. Click 'I agree' to allow Verizon Media and our partners to use cookies and similar technologies to access your device and use your data (including location) to understand your interests, and provide and measure personalised ads. We will also provide you with personalised ads on partner products. Learn more about how we use your data in our Privacy Centre. Once you confirm your privacy choices here, you can make changes at any time by visiting your Privacy Das

Financial decision-maker sentiment: China

McKinsey 06 May 2020 12:00 AM Half of Chinese financial decision makers are optimistic about the economic recovery post COVID-19 and expect it to be stronger in three months. Despite that, 55 percent of consumers are still concerned about their job security and a similar amount have indicated decreased income and savings. Consumers are relatively net neutral on their feelings toward bank performance and would like them to improve their websites to allow for more seamless online transactions. Electronic payments, such as Alip

The Restart

McKinsey 05 May 2020 12:00 AM Downloadable Resources Open interactive popup Article (PDF-909KB) As governments in Europe announce plans to end the lockdown, a new phase in the COVID-19 pandemic is upon us. It is a time for hope but also for caution. The end of the lockdown will not spell a return to the old “normal”, nor will it be universal. The opening will take different shapes, with different countries, different regions, and different business sectors opening up in different ways and at differing speeds. The virus stil

Smartphone shipments dropped 13% globally, and COVID-19 is to blame

Tech Crunch 30 Apr 2020 09:40 PM TechCrunch is part of Verizon Media. Click 'I agree' to allow Verizon Media and our partners to use cookies and similar technologies to access your device and use your data (including location) to understand your interests, and provide and measure personalised ads. We will also provide you with personalised ads on partner products. Learn more about how we use your data in our Privacy Centre. Once you confirm your privacy choices here, you can make changes at any time by visiting your Privacy Das

WPP Q1 revenue down 3.3% as it implements more cost-cutting measures

Campaign 29 Apr 2020 08:11 AM WPP's revenue less pass-through costs slid 3.3% in the first quarter of 2020, as the impact of Covid-19 weighed down its March performance. The holding group generated £2.8bn in revenue from continuing operations in the three months to 31 March, down by 4.9% compared with the same period last year. Revenue less pass-through costs was £2.4bn, marking a 3.3% decrease like for like. Chief executive Mark Read said the network had a "good start to the year" with growth in January and February outside

What we can learn from the beginning of Asia's coronavirus recovery

The Drum 28 Apr 2020 11:30 AM What we can learn from the beginning of Asia's coronavirus recovery Wherever you live, news broadcasts across the globe have one thing in common - the comparison of cross-territory information about the impact of coronavirus. Such data helps generate expert forecasts and predictions as to how the situation may play out in individual countries and around the world.However, a similar application of marketing data could prove equally illuminating. It may even be instrumental in helping brands and

Coronavirus: DJI Mavic Air 2 jettisons drone safety feature in Europe

BBC Technology 28 Apr 2020 01:48 AM By Leo Kelion Technology desk editor Image copyright DJI DJI has launched its first consumer drone to warn of nearby planes and helicopters via its controller.The inclusion of the safety feature follows multiple reports of near-misses with other aircraft.However, the firm says supply chain problems caused by the coronavirus pandemic mean it is only equipping the Mavic Air 2 with the ability in North America at this point.Buyers in Europe and elsewhere will be offered a version lacking the facil

A global view of how consumer behavior is changing amid COVID-19

McKinsey 25 Apr 2020 12:00 AM Governments and organizations continue to work toward containing COVID-19 and stemming the growing humanitarian toll it is exacting. Meanwhile, consumers globally are feeling its economic effects and are still pulling back dramatically on discretionary spending. European countries are the least optimistic, while China’s optimism is higher, and Chinese consumers’ intent to spend across select categories is starting to recover.Consumers have shifted toward digital channels, products, and services

How COVID-19 changes the game for biopharma in China

McKinsey 24 Apr 2020 12:00 AM Downloadable Resources Open interactive popup Article (PDF-881KB) The COVID-19 crisis is fundamentally changing how biopharmas operate in China. It has put short-term pressure on budgets, reduced treatment of non-COVID-19 patients, and undermined market fundamentals. Equally, it has revealed a number of new focus areas, amid expectations for rising investment and a supportive policy agenda as the economy recovers. The urgent task for biopharmas is to mitigate the short-term impacts of the outbr

Zoom’s encryption update is like ‘skipping two generations on a smartphone upgrade’

Mashable 22 Apr 2020 10:52 PM Lock it down!!Image: Indranil Aditya / NurPhoto via Getty Images Sorry, Zoom eavesdroppers. Zoom announced Wednesday that its version 5.0 update will add some security upgrades that privacy-minded "Zoomers" will appreciate. Most significantly, Zoom is improving the encryption standard that it uses, which makes call data more resistant to getting intercepted. Encryption has been a big issue for Zoom since The Intercept uncovered that its claims about having end-to-end encryption were not accura

Re-energizing through the epidemic: Stories from China

McKinsey 21 Apr 2020 12:00 AM Downloadable Resources Open interactive popup Article (PDF-898KB) Executives engaged in the fight against COVID-19 face tough challenges, not only in terms of decision making, but also their ability to manage their own energy and outlook. China-based workers were the first to face this challenge, often while juggling the demands of home life as a result of office closures and remote working policies. Now, the rest of the world is being plunged into a similar predicament, with lockdown condition

Where did it go wrong for European grocery retailers in Asia Pacific?

The Drum 14 Apr 2020 10:59 PM Many European grocery retailers used their own e-commerce platforms and delivery mechanisms. European grocery retailers have struggled with the realities of the scope and scale of operations in Asia Pacific, with British retailer Tesco became the latest to depart the region, selling off its Thailand and Malaysia businesses to CP Group in a deal that valued the business at US$10.6 billion in March 2020.The trend began in 2018 when French grocery giant Carrefour, German supermarket operator Metro

MPs summon China-owned firm execs over security concerns

BBC Technology 13 Apr 2020 11:01 PM By Simon Jack Business editor Image copyright Imagination Technologies A leading UK-based firm will be summoned on Tuesday by MPs to answer questions over security concerns.There are concerns that the Chinese owner of Imagination Technologies has renewed efforts to transfer ownership of sensitive security software to companies controlled by China.Lawmakers worry the coronavirus crisis is diverting attention from controversial technology transfers.The fear is that networks in the UK, Europe and

Why managing the economic fallout from coronavirus is 'a marathon, not a sprint'

The Drum 07 Apr 2020 10:56 AM Image by Maksym Kaharlytsky via Unsplash As the coronavirus pandemic continues around the world, the situation is prompting leaders from every sector to take increasingly drastic action, and focus on finding solutions to the economic, social and human losses we are all facing.China has now begun its slow road to recovery, begging the question of what leaders can learn, and how they can apply those lessons on their home turf.Speaking at The Drum’s Digital Transformation Festival, global presiden

Remaking banking customer experience in response to coronavirus

McKinsey 07 Apr 2020 12:00 AM Downloadable Resources Open interactive popup Article (PDF-592KB) The last time there was a global crisis, banks were widely perceived to be a big part of the problem. This time around, banks are central to the solution.Banks can play an immediate role in slowing the spread of COVID-19 by helping customers make better use of existing digital and remote channels. And banks can help limit the impact of the likely downturn by building new experiences to help their customers manage debt, adjust bud

BMW sends messages of hope as China picks itself up from the coronavirus pandemic

The Drum 06 Apr 2020 05:27 AM The film, created by Juice Network Beijing, is written as a letter to the year 2020. BMW has launched a campaign in China featuring messages of encouragement and hope for the country as it continues its recovery from the coronavirus pandemic (Covid-19).China has started to lift its social restrictions as the number of new locally transmitted cases slowed.The film, created by Juice Network Beijing, is written as a letter to the year 2020. It acknowledges the testing times endured and looks onwar

Green shoots: Publishers see ad activity return in China

Digiday 06 Apr 2020 04:03 AM For media companies, last week was characterized by layoffs, salary cuts and print closures. But it’s also the week publishers started seeing campaigns coming back in China. Bloomberg CEO Justin Smith said it’s seeing Asia open up again and the beginnings of more activity happening there. One major international news brand is expecting to sign three contracts last week from three of the biggest countries in China and the immediate area (one has already been signed). Another major international n

An instant economic crisis: How deep and how long?

McKinsey 06 Apr 2020 12:00 AM Downloadable Resources Open interactive popup Article (PDF-2MB) The human tragedy of the COVID-19 pandemic continues to deepen, with the heaviest toll now seen in Europe and the United States. Although testing remains limited, the number of confirmed cases of the virus worldwide has exceeded 1 million, and more than 70,000 have died. The United States, Italy, and Spain have the most confirmed cases and highest death tolls. Hundreds have died in each of the past several days in Britain and Franc

How to restart national economies during the coronavirus crisis

McKinsey 06 Apr 2020 12:00 AM Downloadable Resources Open interactive popup Article (PDF-656KB) Around the world, life as we know it has changed drastically. Global leaders and millions of citizens are facing the challenge of a lifetime. The COVID-19 pandemic is threatening not only healthcare systems, but also the livelihoods of citizens and the stability of economies.As our colleagues wrote in “Safeguarding our lives and our livelihoods: The imperative of our time,” the shock to our lives and livelihoods from the virus-su

Survey: Chinese consumer sentiment during the coronavirus crisis

McKinsey 04 Apr 2020 12:00 AM China is in what appears to be the later stages of the COVID-19 contagion, with new cases numbering fewer than 100 daily. Almost half of Chinese consumers surveyed expect the economy to rebound quickly and their routines to return to normal within the next two to three months. Fewer consumers foresee a decline in their incomes and spending over the next two weeks as compared to earlier in the crisis. However, given the ongoing uncertainties, about 40 percent say they are still adopting a cautiou

JD.com, Budweiser & Remy Cointreau on taking clubbing to living rooms during coronavirus

The Drum 03 Apr 2020 04:11 AM JD.com, Budweiser & Remy Cointreau on taking clubbing to living rooms during coronavirus Chinese e-commerce giant JD.com has reinvented clubbing for the coronavirus lockdown, live streaming it to people’s living rooms and delivering them alcohol from their favourite brands. China has recently lifted its lockdown but the success of the project is leading JD.com to continue the streams until at least May. The Drum spoke to JD.com, who also shared some thoughts from two fo the brands involved

Coronavirus threatens the next generation of smartphones

BBC Technology 02 Apr 2020 11:06 PM By Sooraj Shah Technology of Business reporter Image copyright Mazen Kourouche Every Autumn, Mazen Kourouche heads to the biggest Apple Store in Sydney, Australia, and queues up for hours to be one of the first people in the world to get his hands on the latest iPhone."Since the iPhone 7 came out I've been lining up for the new Apple devices for a few reasons: firstly the hype associated with them, secondly because of the resale value, and thirdly because Australia is the first country to get a

Adapting customer experience in the time of coronavirus

McKinsey 02 Apr 2020 12:00 AM Downloadable Resources Open interactive popup Article (PDF-1007KB) In a short period of time, COVID-19 has overwhelmed lives and livelihoods around the globe. For vulnerable individuals and the customer teams that serve them, it has also forced a rethinking of what customer care means. Suddenly, examinations of customer journeys and satisfaction metrics to inform what customers want have given way to an acute urgency to address what they need.Particularly in times of crisis, a customer’s intera

YouTube is working on a TikTok competitor called 'Shorts'

Mashable 01 Apr 2020 09:46 PM YouTube will launch a new feature to take on TikTok by the end of the year according to a new report.Image: Mustafa Murat Kaynak / Anadolu Agency TikTok, which recently hit 41 million daily active users outside of China, may soon have some real competition on its hands. YouTube is currently working on a new feature called Shorts, which aims to rival TikTok, according to The Information. Shorts will exist inside the YouTube mobile app as a feature, states the report, and not as a stand-alone pro

Digital Transformation Festival: what we learned from week 2

The Drum 27 Mar 2020 04:41 PM Digital Transformation Festival: what we learned from week 2 It was another busy week as The Drum's Digital Transformation Festival continued, providing us with more food for thought from leaders and experts from across the digital industry. Here are some of the most interesting things we learned in week two.1. Readers are flocking back to their trusted news brands as trust in social media declines.Tracy De Groose, executive chair for Newsworks told The Drum that readership for online news was

The uncertain future for China's electric car makers

BBC Technology 27 Mar 2020 12:02 AM By Danny Vincent BBC News, Hong Kong Image copyright Han Zhu Han Zhu is on a mission to go green. The 29-year-old data analyst wants her next car to be electric. But her reasons for buying an electric vehicle are in part practical.In the southern Chinese city of Shenzhen, government restrictions on the number of petrol cars sold each year mean she would have to enter a lottery or auction to be able to buy a petrol vehicle. "There is a possibility you may never get it. With the electric vehicle

How China’s consumer companies managed through the COVID-19 crisis: A virtual roundtable

McKinsey 27 Mar 2020 12:00 AM Downloadable Resources Open interactive popup Article (PDF-1MB) On March 19, China reported no new locally transmitted cases of COVID-19 for the first day since the outbreak of the virus in the Hubei province capital of Wuhan. Extraordinary containment measures limiting the movement of millions, coupled with rapid medical response, appear to have proved effective in preventing new infections.As a result, China’s economy is resuming activity after a near total shutdown. Factories are restarting

Huawei P40 flagship phones launch amid Covid-19 crisis

BBC Technology 26 Mar 2020 01:30 PM By Leo Kelion Technology desk editor Media playback is unsupported on your device Huawei has launched a range of new flagship smartphones despite the coronavirus pandemic.The firm unveiled the P40 phones a day after the firm's founder announced that 90% of the company's 150,000 China-based employees had returned to work.But experts say demand for the handsets will likely be weak outside of its home market, at least in the short-term.They say many consumers and businesses are focused on buying l

Internet is getting slower in the U.S. and Europe

Mashable 24 Mar 2020 08:47 AM Internet performance is deteriorating in the U.S., Canada and Europe.Image: Photothek via Getty Images Broadband speeds are falling in many European countries as well as North America. According to data from Speedtest, this is especially visible in the past week, amid an unprecedented lockdown in many countries due to the coronavirus outbreak. In the U.S., mean fixed broadband download speed decreased from roughly 140 to 133Mbps in the week of March 16, compared to the week of March 9. Over t

China’s new normal: how brands are starting to bounce back from coronavirus

The Drum 24 Mar 2020 05:48 AM China’s new normal: how brands are starting to bounce back from Coronavirus The social and economic reality of the global coronavirus (Covid-19) pandemic is only starting to really hit home for many but over the weekend China started to lift its social restrictions as the number of new locally transmitted cases slowed.It is still early days, even for China, as to whether life will be entirely back to normal, with some sceptical that a push to economic normality is hasty. Even with social distan

What now? Some insights from China

The Drum 23 Mar 2020 02:00 PM What can we learn from the Chinese experience on Coronavirus? Let’s admit something alien to us in the industry: we don’t know what the next six months hold. With studies indicating social distancing or ‘suppression’ measures potentially necessary until a vaccine is available – itself potentially 18 months or more away – plus the unpredictability of an event without modern precedent, we are all flying somewhat blind.While ‘staying put’ is the advice, ‘sitting tight’ is not an option. Thankfully

Your advertising survival plan

The Drum 23 Mar 2020 11:30 AM Are you prepared? / Image by Kyle Glenn on Unsplash. Safe to say, none of this years’ predictions named hand sanitizer, tinned veg or loo roll as the big winners of 2020, but here we are. Three months into the new decade and customers have stopped scrambling for the latest tech trend and instead we’re leaning into brands and products your grandparents would definitely recognize.For companies selling non-essential products, primarily in-store, 2020 is looking tough. But the reality is there are

Why L’Oreal partnered with a hotpot restaurant in China to promote its makeup

The Drum 23 Mar 2020 04:23 AM Why L’Oreal partnered with a hotpot restaurant to promote its makeup The combination of hotpot and L’Oreal isn’t an obvious partnership but once the makeup brand discovered the steamy food was the ultimate beauty stress test, it was an obvious link for its long-wear makeup range.This weekend saw the positive news that China, one of the hardest-hit countries by the coronavirus, was starting to get back to normal life. Across the country, people had been limiting social interaction in order to cu

A blueprint for remote working: Lessons from China

McKinsey 23 Mar 2020 12:00 AM Downloadable Resources Open interactive popup Article (PDF-205KB) From Alibaba to Ping An and Google to Ford, companies around the globe are telling staff to work from home 1 1. Peter Campbell, Alice Hancock, and Daniel Thomas, “Companies from Ford to Unilever send staff to work from home,” Financial Times, ft.com. in a bid to stem the spread of COVID-19. */ ]]> Such remote working at scale is unprecedented and will leave a lasting impression on the way people live and work for many years to co

Safeguarding our lives and our livelihoods: The imperative of our time

McKinsey 23 Mar 2020 12:00 AM Downloadable Resources Open interactive popup Article (PDF-1MB) Everything has changed. Just a few weeks ago, all of us were living our usual busy lives. Now, things normally taken for granted—an evening with friends, the daily commute, a plane flight home—are no longer possible. Daily reports of increasing infections and deaths across the world raise our anxiety and, in cases of personal loss, plunge us into grief. There is uncertainty about tomorrow; about the health and safety of our familie

Plastics recycling: Using an economic-feasibility lens to select the next moves

McKinsey 20 Mar 2020 12:00 AM Downloadable Resources Open interactive popup Article (PDF-902KB) The worldwide crisis of plastics-waste pollution is leading to calls for action from a wide range of stakeholders, from consumers to regulators to brand owners to plastics producers. The desire to see action is easy to understand, but identifying the most effective approaches to current waste problems—and those of the future—represents a complex challenge spanning the entire plastics value chain.The elements that could provide th

Can computers ever replace the classroom?

Guardian Technology 19 Mar 2020 06:00 AM Illustration: Getty Main image: Illustration: Getty For a child prodigy, learning didn’t always come easily to Derek Haoyang Li. When he was three, his father – a famous educator and author – became so frustrated with his progress in Chinese that he vowed never to teach him again. “He kicked me from here to here,” Li told me, moving his arms wide. Yet when Li began school, aged five, things began to click. Five years later, he was selected as one of only 10 students in his home province of Hena

Coronavirus: A response framework for advanced industries companies

McKinsey 19 Mar 2020 12:00 AM Downloadable Resources Open interactive popup Article (PDF-815KB) Note: This article focuses on companies in advanced industries and reflects our thinking as of March 20, 2020. We are regularly updating our global perspective on the business implications of COVID-19.COVID-19 continues to spread rapidly around the world, straining healthcare systems and creating a humanitarian tragedy. The number of new cases caused by the coronavirus (SARS-CoV-2), appears to have crested in China, where the dis

iPhone sales plummet by more than 60% in China during coronavirus outbreak

Mashable 09 Mar 2020 02:35 PM Apple staff and customers, wearing facemasks to protect against the COVID-19 coronavirus, are seen on the shop premises in Beijing on February 22, 2020.Image: NICOLAS ASFOURI / getty images Apple experienced a major dip in iPhone sales as a result of the coronavirus outbreak. Reuters reported Monday that Apple shipped just 494,000 phones in China in February, which is a 61 percent drop compared to the same time last year. The number, which comes from the China Academy of Information and Commun

Coronavirus: China's tech fights back

BBC Technology 03 Mar 2020 12:37 PM By Pratik Jakhar BBC Monitoring Image copyright Getty Images Disinfecting robots, smart helmets, thermal camera-equipped drones and advanced facial recognition software are all being deployed in the fight against Covid-19 at the heart of the outbreak in China.President Xi Jinping has called on the country's tech sector to help battle the epidemic. Healthcare tech is also being used to identify coronavirus symptoms, find new treatments and monitor the spread of the disease, which has so far infe

Doris Ke, Founder at Business of Women, on opportunities for publishers in China

What's New in Publishing 03 Mar 2020 06:10 AM Many publishers have been eyeing the huge and potentially lucrative Chinese market for years now. Yet China is a vast and complex country and its media landscape is unlike any other territory. Doris Ke, Founder at Business of Women, is an authority on the intricacies of the Chinese media and ecommerce worlds. At DIS 2020 she will be discussing social media growth hacking, and the lessons media companies can learn from China’s Key opinion leaders. Here she talks about her company, Business of Wom

Doris Ke, Founder at Business of Women, on opportunities for publishers in China

What's New in Publishing 03 Mar 2020 06:10 AM Many publishers have been eyeing the huge and potentially lucrative Chinese market for years now. Yet China is a vast and complex country and its media landscape is unlike any other territory. Doris Ke, Founder at Business of Women, is an authority on the intricacies of the Chinese media and ecommerce worlds. At DIS 2020 she will be discussing social media growth hacking, and the lessons media companies can learn from China’s Key opinion leaders. Here she talks about her company, Business of Wom

Coronavirus: Livestreaming karaoke and reality TV in virus-hit China

BBC Technology 28 Feb 2020 12:08 AM By Kerry Allen BBC Monitoring Image copyright Hunan TV China has the world's largest livestreaming industry and Wuhan - the epicentre of the Covid-19 outbreak - was already something of a livestreaming hub. So when the new virus emerged, confining millions of people to their homes, the industry responded quickly, with new programming genres emerging and a shift in the formats of popular TV reality shows. Audiences have been watching livestreams of both celebrities and ordinary people singing, c

China launches coronavirus 'close contact detector' app

BBC Technology 11 Feb 2020 05:09 AM Image copyright Getty Images China has launched an app that allows people to check whether they have been at risk of catching the coronavirus.The 'close contact detector' tells users if they have been near a person who has been confirmed or suspected of having the virus.People identified as being at risk are advised to stay at home and inform local health authorities.The technology shines a light on the Chinese government's close surveillance of its population.To make an inquiry users scan a Qu

Luxury brands and contemporary art is merging in China

The Drum 11 Feb 2020 03:56 AM In 2016, the Fondation Louis Vuitton put on the group show ‘Bentu: Chinese artists in a time of turbulence and transformation’ in the LVMH Group’s private museum in Paris, bringing together 12 contemporary Chinese artists to explore the reality of life in today’s China. ‘Bentu’, meaning ‘native soil’ in Mandarin, was a landmark show, not only due to its significance as a major exposition of Chinese contemporary art in Europe (the first for a decade in France) but also as a statement of intent f

Coronavirus: Technology giants join China shutdown

BBC Technology 30 Jan 2020 05:46 AM Image copyright Getty Images Google is temporarily closing all of its offices in China, Hong Kong, and Taiwan as a result of the coronavirus.Other tech giants, including Amazon and Microsoft, have also taken action to protect staff from infection.This week global corporations have been shutting operations in China and advising overseas staff not to visit the country.Many employees are being asked to work from home or extend their Lunar New Year holiday.Google said it is stopping staff travellin

British officials recommend role for China’s Huawei in 5G network

Telegraph 23 Jan 2020 12:36 PM

China is Dominating Computer Vision AI Venture Capital Investment

Gartner 22 Jan 2020 09:46 PM by Anthony J. Bradley | January 22, 2020 | Submit a Comment Our recent research shows that venture capital (VC) investment in computer vision technology firms has increased four-fold from 2016-2018 exceeding a total of $8 billion USD. We analyzed over 1400 deals during this three year period. Our analysis also indicates that Chinese investors investing in Chinese companies are dominating the space accounting for over 56% of overall dollars invested and 8 of the 10 biggest deals. 2018 investm

The best upcoming publishing events in Asia

What's New in Publishing 08 Jan 2020 07:31 AM With a new year comes a whole raft of industry events designed to help you get the best from your publishing business in 2020. To help you sort your calendar, we’ve picked out the must-attend publishing events across Asia for the next few months, from the mega-conferences to more intimate gatherings. See our choice of the best publishing events in Europe here and the Americas here. Digiday Publishing Summit Japan 12 – 13 February 2020Kyoto, Japan Digiday have yet to release an agenda for their P

China's Tencent buys $3.4bn Universal Music stake in latest entertainment push

Telegraph 31 Dec 2019 10:57 AM

Tesla delivers its first 'Made in China' cars

BBC Technology 30 Dec 2019 05:47 AM Image copyright Tesla Tesla has delivered its first cars made in China, marking a major milestone for the electric vehicle maker.Fifteen Model 3 sedans were handed over at the company's so-called "Gigafactory" near Shanghai.It comes as Elon Musk's company aims to secure a significant slice of the world's biggest car market.Tesla's move into the country comes as the trade war has forced other American companies to shift production out of China.During a ceremony at the company's multi-billion dol

China is getting smarter - but at what cost?

BBC Technology 24 Dec 2019 12:11 AM By Jane Wakefield Technology reporter Image copyright Getty Images Thirty years ago, Shenzhen was a fishing village, surrounded by paddy fields.Then came a plan to build China's first special economic zone to allow foreign investments, and out of the quiet rural landscape grew private businesses and factories which over time transformed into a city.Now Shenzhen, with a population of 12 million, is just one part of a huge urbanised area running down the Pearl River Delta.China's smart cities amb

What can we expect in China in 2020?

McKinsey 19 Dec 2019 12:00 AM Downloadable Resources Open interactive popup Article (PDF-2MB) 2019 in China brought together long running challenges, such as uncertainty over US–China tariff levels and ever more intrusive regulation of business in China, with a few unexpected ones as well: the crisis in Hong Kong and the flare up triggered by tweets from an NBA coach, to mention just two. Yet for many businesses, opportunities flourished throughout the year as China’s economy grew roughly 6 percent. And in multiple key indu

US finalising rules to ban exports of 'sensitive tech' to China

Telegraph 18 Dec 2019 12:19 PM

China consumer report 2020: The many faces of the Chinese consumer

McKinsey 18 Dec 2019 12:00 AM Downloadable Resources Open interactive popup Full Report (PDF-4MB) China’s slowing GDP and the trade dispute with the United States have injected a cloud of uncertainty into the Chinese economy. Some observers have predicted that these developments will spell bad news for Chinese consumption, which has thus far been a powerhouse for economic growth.Our research shows that they may not need to worry too much. Although traditional drivers of China’s economy—investment, exports, and manufacturing

US prepares to hike Chinese tariffs, as Trump claims Beijing wants a deal - business live

Guardian Business 08 May 2019 03:09 PM LIVE Updated Traders on the floor of the New York Stock Exchange last night Photograph: Spencer Platt/Getty Images 4.09pm BST16:09 Shares are pushing higher in New York, as traders welcome Donald Trump’s claim that China wants a trade deal. The Dow is now 82 points higher at 26,047 points, rising from Tuesday’s one-month low. 2.49pm BST14:49 Wall Street is calm in early trading. After plunging by 473 points yesterday, the Dow is up just 9 points at 25,974. 2.36pm BST14:36 US files notice to hik

Exclusive: China backtracked on almost all aspects of U.S. trade deal - sources

Reuters Business 08 May 2019 02:07 PM WASHINGTON/BEIJING (Reuters) - The diplomatic cable from Beijing arrived in Washington late on Friday night, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks. The document was riddled with reversals by China that undermined core U.S. demands, the sources told Reuters. In each of the seven chapters of

Exclusive: China backtracked on nearly all aspects of U.S. trade deal - sources

Reuters Business 08 May 2019 01:05 PM WASHINGTON/BEIJING (Reuters) - The diplomatic cable from Beijing arrived in Washington late on Friday night, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks. The document was riddled with reversals by China that undermined core U.S. demands, the sources told Reuters. In each of the seven chapters of

U.S. to hike tariffs on $200 billion worth of Chinese imports - Federal Register

Reuters Business 08 May 2019 02:07 PM FILE PHOTO: Chinese and U.S. flags are set up for a meeting during a visit by U.S. Secretary of Transportation Elaine Chao at China's Ministry of Transport in Beijing, China April 27, 2018. Picture taken April 27, 2018. REUTERS/Jason Lee/File PhotoWASHINGTON (Reuters) - The United States will raise tariffs on $200 billion worth of Chinese imports to 25 percent from 10 percent effective on Friday, according to a notice posted to the Federal Register on Wednesday. The U.S. Trade Representative’s o

U.S. will raise tariffs on $200 billion worth of Chinese imports: Federal Register

Reuters Business 08 May 2019 01:05 PM FILE PHOTO: Chinese and U.S. flags are set up for a meeting during a visit by U.S. Secretary of Transportation Elaine Chao at China's Ministry of Transport in Beijing, China April 27, 2018. Picture taken April 27, 2018. REUTERS/Jason Lee/File PhotoWASHINGTON (Reuters) - The United States will raise tariffs from 10 percent to 25 percent on $200 billion worth of Chinese imports effective Friday, according to a notice posted to the Federal Register on Wednesday. The U.S. Trade Representative’s offi

JPMorgan poised to be first foreigner to get majority in China fund venture

Reuters Business 08 May 2019 12:02 PM HONG KONG (Reuters) - JPMorgan could become the first foreign company to own a majority stake in its Chinese mutual fund business, after its joint venture partner put a crucial 2 percent of the business up for sale that analysts expect the Wall Street bank to lap up. FILE PHOTO: A JP Morgan logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith/File PhotoA move by JPMorgan towards that goal would come at a tense time in U.S.-China ties, as Chinese Vice Premier Liu He is se

Nestle, rivals vie for big baby formula prize in China's smaller cities

Reuters Business 08 May 2019 07:49 AM LONDON/BEIJING (Reuters) - Nestle plans to launch a new line of baby formula in China this year under an existing brand, targeted at smaller cities, as the world’s largest packaged food company tries to lengthen its lead in the world’s biggest baby milk market. Staff members are seen at the booth of Nestle promoting its baby food and NAN infant formula products at a maternity and baby industry fair in Beijing, China July 25, 2013. REUTERS/Stringer The new line, discussed exclusively with Reuters

'I very much like his style': high praise for John Bercow from China ambassador

Guardian News 08 May 2019 05:00 AM Speaker John Bercow addresses MPs during Prime Minister’s Questions in the House of Commons Photograph: House of Commons/PA He has drawn the ire of his compatriots on both sides of the aisle during his tenure as Commons Speaker – and perhaps no more so than since the Brexit vote in 2016. But it turns out John Bercow has some unexpected fans abroad – including China’s ambassador to the World Trade Organisation. Zhang Xiangchen praised Bercow’s often divisive Commons manner on Tuesday and suggest

Seeking to avert higher tariffs, China dispatches top negotiator to U.S.

Reuters Business 08 May 2019 01:49 AM WASHINGTON/BEIJING (Reuters) - Chinese Vice Premier Liu He will travel to Washington for two days of trade talks this week, China said on Tuesday, setting up a last-ditch bid for a deal that would avoid a sharp increase in tariffs on Chinese goods ordered by U.S. President Donald Trump. U.S. officials have accused China of reneging in the past week on substantial commitments made during months of negotiations aimed at ending their trade war, prompting Trump to issue a new deadline to raise tarif

Global stocks slip, bonds rally as U.S.-China trade fears grow

Reuters Business 08 May 2019 12:38 AM TOKYO (Reuters) - Asian equities tracked Wall Street’s slide on Wednesday as the latest developments in the U.S.-China trade conflict fanned fresh fears about global growth, driving support for safe-haven government bonds. FILE PHOTO: A man walks in front of a screen showing today's movements of Nikkei share average outside a brokerage in Tokyo, Japan, June 2, 2016. REUTERS/Issei Kato/File PhotoMSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.3 percent, stooping to its lowest le

China will keep calm in face of trade talk challenges: People's Daily

Reuters Business 08 May 2019 12:25 AM FILE PHOTO: U.S. President Donald Trump meets with China's Vice Premier Liu He in the Oval Office of the White House in Washington, U.S., April 4, 2019. REUTERS/Jonathan Ernst/File PhotoSHANGHAI (Reuters) - China will keep calm against threats of higher tariffs from the United States and has “complete confidence” in its ability to face challenges in trade talks, a commentary in China’s top newspaper said on Wednesday. Responding to U.S. President Donald Trump’s threat to raise tariffs on $200 bi

Trade worries push down shares, oil prices, U.S. Treasury yields

Reuters Business 07 May 2019 09:03 PM NEW YORK (Reuters) - Equities and oil futures fell sharply on Tuesday, as investors worried U.S.-China negotiations were floundering and that an escalating trade war could damage global growth. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 7, 2019. REUTERS/Brendan McDermidU.S. Treasury yields fell and the yen rose against the dollar as investors sought safe havens. Equities fell early and losses got steeper throughout a volatile session as investors bet t

Wall Street extends decline as China trade worries mount

Reuters Business 07 May 2019 07:07 PM NEW YORK (Reuters) - U.S. stocks tumbled more than 2 percent on Tuesday as escalating trade tensions between the United States and China triggered global growth fears and kept investors away from riskier assets. The S&P 500 and the Dow Jones Industrial Average were on pace for their second-biggest daily percentage drop of the year. U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin said late on Monday that China had backtracked from commitments made during trad

Trade war and Brexit pose mounting risk to EU economy, says EC

Guardian Business 07 May 2019 04:44 PM Markets have reacted with sharp falls to Donald Trump’s threat to escalate the ongoing trade dispute between the US and China. Photograph: Johannes Eisele/AFP/Getty Images The threat of a full-blown trade war between the US and China and Brexit uncertainty are posing mounting risks to the EU economy, the European commission has warned, after downgrading its growth outlook for 2019. Brussels’ executive arm said a recent slowdown in global trade volumes had taken its toll across the continent, as

Wall Street extends fall as U.S-China trade worries mount

Reuters Business 07 May 2019 05:08 PM (Reuters) - U.S. stocks slid more than 1 percent on Tuesday in a broad-based selloff led by technology shares, as escalating trade tensions between the United States and China triggered global growth fears and kept investors away from riskier assets. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid/File PhotoBeijing said on Tuesday that Chinese Vice Premier Liu He will visit the United States this week for tra

Wall Street slides as trade fears rise

Reuters Business 07 May 2019 08:05 PM NEW YORK (Reuters) - U.S. stocks slid on Tuesday as escalating trade tensions between the United States and China triggered global growth fears and kept investors away from riskier assets. The Dow Jones Industrial Average fell 472.17 points, or 1.79%, to 25,966.31, the S&P 500 lost 48.38 points, or 1.65%, to 2,884.09 and the Nasdaq Composite dropped 159.53 points, or 1.96%, to 7,963.76. Reporting by April Joyner; Editing by Chris ReeseOur Standards:The Thomson Reuters Trust Principles.

FTSE 100 hits one-month low as stock market sell-off accelerates - business live

Guardian Business 07 May 2019 03:52 PM LIVE Updated International Monetary Fund (IMF) Managing Director Christine Lagarde today. Photograph: François Mori/AP 4.52pm BST16:52 Europe closes deep in the red Newsflash: Britain’s stock market has closed at a five-week low. The FSTE 100 has ended the day down 120 points, or 1.6%, at 7,260 points. That’s the lowest level since the end of March, and the biggest one-day fall since 22 March. Manufacturing group Melrose led the fallers, down 5.8%, followed by packaging firm Mondi (down 3.9%).

Trade worries weigh on shares, yields, oil prices

Reuters Business 07 May 2019 03:34 PM NEW YORK (Reuters) - Concerns over trade relations between the United States and China dragged on global equity markets, oil futures and U.S. Treasury yields on Tuesday as investors fretted that the world’s biggest economies were far from agreement in an ongoing trade spat. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 2, 2019. REUTERS/StaffBeijing said its top negotiator, Vice Premier Liu He, would go to Washington for talks this week, as pl

Iraq close to signing $53 billion deal with Exxon, PetroChina; denies Iran link

Reuters Business 07 May 2019 02:11 PM BAGHDAD (Reuters) - Iraq is close to signing a $53 billion, 30-year energy agreement with Exxon Mobil and PetroChina, Prime Minister Adel Abdul Mahdi said on Tuesday, denying any link between the mega-project and U.S. permission for Iraq to do business with Iran. FILE PHOTO: Iraqi Prime Minister Adil Abdul-Mahdi speaks during a news conference with German Chancellor Angela Merkel (not pictured) at the Chancellery in Berlin, Germany, April 30, 2019. REUTERS/Annegret HilseIraq expects to make $400

China vice premier going to U.S. for trade talks despite Trump threats

Reuters Business 07 May 2019 11:51 AM BEIJING/WASHINGTON (Reuters) - Chinese Vice Premier Liu He will visit the United States this week for trade talks, Beijing said on Tuesday, playing down a sudden increase in tension after U.S. President Donald Trump vowed to impose new tariffs. U.S. officials have said China has backtracked on substantial commitments made during months of negotiations seeking to end their bruising trade war. Those concerns prompted Trump to say on Sunday that he would raise tariffs on $200 billion worth of Chine

China confirms vice-premier Liu He will visit US for trade talks

Guardian Business 07 May 2019 11:13 AM China’s Liu He, centre, with Robert Lighthizer, left, and Steven Mnuchin of the US in Beijing. Photograph: Nicolas Asfouri/AFP/Getty Images China’s chief trade negotiator will travel to Washington this week, according to the commerce ministry, tempering fears that talks to resolve a protracted trade war between the US and Beijing had been scuppered. Liu He, a vice-premier, will hold negotiations in Washington on Thursday and Friday, according to the Chinese ministry, which did not elaborate on

Wigs and false eyelashes help North Korea prevent economic collapse

Telegraph News 07 May 2019 07:27 AM

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