Coca-Cola Co has agreed to buy the world's second largest coffee chain Costa from Britain's Whitbread Plc for an enterprise value of 3.9 billion pounds ($5.1 billion), opening a new front in its push away from traditional sodas.
Haier Group, the country's largest home appliances manufacturer, said it will continue to develop its brand overseas, guide international standards and capture high-end markets, when faced with rising trade and investment protectionism. Despite a complicated external environment, the company's revenue from overseas markets in 2018 is expected to increase 30 percent year-on-year, which will account for 40 percent of Haier's total revenue, according to the home appliance giant.
Share prices of large Chinese online gaming companies plunged on Friday as the government decided to clip the wings of the fast-growing sector. Regulators from eight ministries said in a joint statement that 'an adjustment and control on the total number of online games' was necessary. The document also outlined efforts to reduce gaming addiction among youngsters.
Fast-food chain operator Yum China Holdings Inc has rejected a $17.6 billion buyout offer from a consortium led by Chinese investment firm Hillhouse Capital Group, quashing what would have been one of Asia's biggest deals this year, a person with direct knowledge of the matter said. The Hillhouse-led consortium, which would also include regional investment house Baring Private Equity Asia, expressed an interest in offering $46 per share, or nearly 24 percent above Tuesday's closing price, for the biggest fast-food chain in China
Chinese e-commerce giant Alibaba Group vowed to enable more entrepreneurs in Africa who have ideas and practical knowledge gained from China's innovative businesses to accelerate the development of e-commerce platforms on the continent. Empowering entrepreneurs from Africa is in line with the company's commitment to support entrepreneurs from Africa and help them to succeed in the digital world, said Song Juntao, vice-president of Alibaba Global Business Group.
Chinese internet company Tencent Holdings has joined other global investors eyeing India's online food delivery platform Swiggy, The Economic Times reported on Tuesday. Swiggy has held talks with investors to raise $500 million to $700 million, a significant portion of which Tencent wants to contribute, the report said, citing people familiar with the talks.
Chinese e-commerce giant Alibaba Group Holding has decided to wind down the US operations of its cloud computing subsidiary Alibaba Cloud, which experts said is a move motivated by increasing political hostility to Chinese business in the US. 'This is a consequence of the China-US trade tension. As the 'China threat' idea expands in the US, many companies will not put their data in the hands of Chinese companies,' Li Yi, a senior research fellow at the Internet Research Center under the Shanghai Academy of Social Sciences, told the Global Times on Sunday.
U.S. tech giant Google announced on Monday that it is employing a new artificial Intelligence (AI) technology to combat online spreading of contents involving child sexual abuse. Google said its cutting-edge AI technology uses deep neural networks for image processing to help discover and detect child sexual abuse material (CSAM) online.
Chinese tech giant Huawei announced Tuesday that it will join forces with the United Arab Emirates (UAE)-based Orbit Showtime Network (OSN) to offer Internet TV service in the Middle East. Huawei on Tuesday signed a Memorandum of Understanding (MoU) with OSN, the leading entertainment network in the Middle East, to offer the Internet Protocol Television (IPTV) service, the Chinese telecom equipment giant said in a statement.
China's opening-up is an important policy and German carmaker BMW Group will make the best use of it, a company executive told the Xinhua News Agency in an exclusive interview in Munich, Germany. 'If you look at those big collaboration projects with Chinese companies like Great Wall, Baidu - which we announced in Berlin in July - those all demonstrate that we are keen on making use of all the options of collaboration and engagement in China,' said Thomas Becker, vice president of governmental affairs with BMW Group.