Media Focus on Multinational Corporations





Walmart Inc will continue to grow its hypermarkets, Sam's Club stores, and community-based smaller-sized supermar- kets businesses in China with more advanced technologies, according to a top official. Doug McMillon, president and CEO of Walmart said that China is still one of the most important markets for the US retailer. (China Daily)

Huawei Technologies announced a staggering of 39 percent year-on-year rise in business revenue for the first quarter of 2019, continuing a stellar growth despite rising pressure from the US government. Announcing its Q1 performance, the company said its net profit rose 8 percent, edging higher than previous quarters. (China Daily)

Facebook Inc beat analysts' estimates for quarterly revenue on Wednesday, aided by growth in its Instagram business and a surge in advertising sales, while also setting aside up to $5 billion to cover anticipated official US privacy penalties. Shares of the company, which have surged almost 40 percent this year, were up nearly 5 percent in extended trading after it. (China Daily)

Tesla CEO Elon Musk expects to start converting the company's electric cars into fully self-driving vehicles next year as part of an audacious plan to create a network of robotic taxis to compete against Uber and other ride-hailing services. (China Daily) 

BMW is adding nearly 185,000 vehicles in the U.S. to a 2017 recall for possible engine fires. Two years ago the company recommended the vehicles be parked outdoors until problems are fixed. The expansion brings the total number of vehicles recalled for the problem to about 925,000. (National Business Daily)


Amazon crushed expectations for its first-quarter results on Thursday, reporting earnings that easily surpassed Wall Street’s projections even as revenue growth slowed. Amazon recorded its fourth straight quarter of record profit. Quarterly revenue rose 17 percent to $59.7 billion, roughly in line with expectations, but growth was down from 46 percent in the same period one year ago. (National Business Daily)

Sainsbury's 7.3 billion-pound ($9.4 billion) purchase of Walmart's Asda unit on Thursday amid concerns the deal would have increased prices and reduced the quality and range of products available. For Walmart, it's another setback as it tries to refocus its international operations on higher-growth markets . (National Business Daily)

South Korea's Hyundai brand is facing a supply glut in China and plans to shut down one of its Beijing plants in May, Hyundai dealership owners and employees said on Wednesday. A report by Bloomberg said the company is halting production at its oldest joint venture (JV) plant in China, the world's largest auto market. (National Business Daily)

Ford is sinking a half-billion dollars into electric vehicle startup Rivian in a deal that has the companies working together on a new Ford electric vehicle based on Rivian underpinnings. Ford Motor Co. will become a minority partner in Rivian, which is based outside of Detroit and recently rolled out a new electric pickup truck and an SUV that will go on sale late next year. (Global Times)

Google affiliate Wing Aviation has received federal approval allowing it to make commercial deliveries by drone. It's the first time a company has gotten a federal air carrier certification for drone deliveries. (Global Times)

Sony is reportedly planning to expand its presence in the fast-growing anime market in China, as the company faces tough times in its other businesses including smartphones, and as China vows to improve protection of intellectual property rights. However, the company, despite its expertise in anime, will need to come up with better products to stay ahead amid rising competition in the Chinese market. (Global Times)

Alibaba locks eyes onto mobility market. Hello TransTech (formerly Hellobike), a Chinese mobility startup backed by Ant Financial, Alibaba's financial services arm, announced on Wednesday that it will provide subsidies for both drivers and passengers of its carpooling service during the upcoming May Day holiday. (Global Times)