Media Focus on Multinational Corporations[2021.06.15]






Amazon will overtake Walmart as the largest U.S. retailer in 2022, JPMorgan predicts

Amazon is on track to overtake Walmart as the largest U.S. retailer in 2022, according to JPMorgan research released Friday.

Amazon’s U.S. retail business is the fastest growing at scale,according to the companys analysts. Between 2014 and 2020, Amazons U.S. gross merchandise volume, or GMV a closely watched industry metric used to measure the total value of goods sold over a certain time period has grown significantly fasterthan both U.S. adjusted retail sales and U.S. e-commerce, the analysts said.

Neither Amazon nor Walmart break out GMV in their quarterly earnings results, but JPMorgan estimates Amazon’s GMV is growing faster than its largest retail competitor. JPMorgan analysts said Amazons GMV in 2020 climbed 41% year over year to $316 billion, while Walmarts GMV is estimated to have grown 10% year over year to $439 billion in 2020.

【Goldman Sachs】

Goldman Sachs is expanding its crypto presence by offering options, futures trading in Ether

Goldman Sachs Group Inc. is moving beyond the world of Bitcoin and expanding into Ether.

The bank plans to offer options and futures trading in Ether, the coin that fuels the Ethereum network, in the coming months, according to Mathew McDermott, head of digital assets at Goldman.

It’s the latest step in the Wall Street giants crypto ambitions after Goldman restarted a trading desk this year to help clients deal in publicly traded futures tied to Bitcoin. McDermott said the bank also plans to facilitate trades via exchange-traded notes tracking Bitcoin.


Shell considers selling assets in the largest US oil field, Reuters reports, highlighting pressure to focus on low-carbon investments

Giant oil corporation Royal Dutch Shell is considering shedding some or all of its assets in the Permian Basin, Reuters reported on Sunday, underscoring the pressure Shell and its competitors are under to focus on transitioning to a carbon-neutral economy and combat climate change in the coming decades.

The Netherlands-based company has some 260,000 acres in the southern US oil field, the largest in the country, that could be worth as much as $10 billion, Reuters reported, citing sources familiar with the matter. Shell declined to comment to Reuters.

Shell produces some 160,000 to 170,000 barrels of oil per day in the Permian Basin, upstream director Wael Sawan said on May 25 during a meeting with analysts. Sawan has said that over the last year, the company has lowered its Permian production by some 20,000 barrels a day in an effort to preserve cash.


Amazon raises minimum pay to over Rs 1000 per hour in THIS country

Amazon will guarantee an entry-level wage at its German warehouses of 12 euros ($15) an hour, the company said on Friday in the face of a long-running battle with a top labour union.

Germany is Amazon`s biggest market after the United States, and the Verdi union has been organising strikes at Amazon in the country since 2013 to protest low pay and poor conditions.

The pay increase is effective from July and compares with entry-level pay as low as 11.30 euros per hour for some locations, though pay exceeded 12 euros in other locations.Amazon`s wages exceed Germany`s current minimum wage of 9.50 euros per hour.

Amazon - which saw net profit rise to $8.1 billion in the first quarter, more than tripling from $2.5 billion the year earlier - has faced similar criticism over conditions and pay throughout the globe.


Samsung releases new multi-chip package for 5G smartphones

SEOUL, June 15 (Yonhap) -- Samsung Electronics Co. on Tuesday released a new multi-chip package (MCP) memory product for use in 5G smartphones as the South Korean tech giant tries to better target the fast-growing handset market.

The world's largest memory chip producer said it has begun mass-producing low-power double data rate 5 (LPDDR5) universal flash storage (UFS) MCP that integrates high-performance DRAM and NAND flash memory chips in a single compact package.


JPMorgan Chase 'effectively stockpiling' cash in view of possible higher inflation

JPMorgan Chase has been “effectively stockpilingcash rather than using it to buy Treasuries or other investments because of the possibility higher inflation will force the Federal Reserve to boost interest rates, Dimon said Monday during a conference. The biggest U.S. bank by assets has positioned itself to benefit from rising interest rates, which will let it buy higher-yielding assets, he said.

Dimon waded into the ongoing debate on whether higher inflation is a result of temporary aspects of the reopening, like raw material shortages or supply chain issues, or if it could be more lasting. Fed officials have called the current spike in inflation transitory, meaning temporary and short-lived. But there are increasingly voices, including Deutsche Bank economists and hedge fund billionaires, who warn of consequences should the Fed ignore inflation.


Hyundai, General Motors Double Down on Flying Car Plans

Top executives at Hyundai and General Motors reconfirmed each automaker’s commitment to produce a viable flying car, perhaps as soon as 2025, but more likely by the end of this decade.

Hyundai’s air taxi service could be operational as soon as 2025, Global COO Jose Munoz said.

Hyundai Global Chief Operating Officer Jose Munoz, who also heads up the company’s North American operations, told a group of investors and media that an air taxi service could be operational by 2025, if everything goes well.

He noted his company is ahead of its original timetable for producing a useable flying car, originally 2028.


Martell launches its first-ever mangrove conservation project in China

Cognac brand Martell kicked off its first mangrove forest protection and restoration project in China on June 5-World Environment Day.

Joining hands with nonprofit organization Conservation International, which is committed to conserving mangrove forests with its expertise in scientific approaches and field programs, the company hopes to reforest and restore around 18,000 mangrove trees on Hailing Island in Yangjiang, Guangdong province, within the first year. The project will also contribute to Yangjiang's goal of being designated a National Forest City.


Chinese SOE contributes to African modern railway development

The Lagos-Ibadan railway in Nigeria, the first modern standard gauge double track railway in West Africa and the longest on the continent, opened for service on June 10.

Contracted by China Civil Engineering Construction Corporation (CCECC) and financed by Export-Import Bank of China, the 157-kilometer railway links Lagos, Africa's largest city, with Ibadan, Nigeria's industrial capital.

Meeting modern railway standards, it has a designed speed of 150 kilometers per hour.

A major part of Nigeria's national trunk railway network planning and the connectivity among Economic Community of West African States rail network, the railway is expected to improve traffic conditions in southern Nigeria and provide a convenient and comfortable way to travel for local residents.


CNOOC starts work on world's largest LNG storage unit

Jiangsu facility will cost $956m, boost green push, spur gas tank technology

China National Offshore Oil Corp, the country's top offshore oil and gas producer, expanded the construction of what will be the world's largest liquefied natural gas or LNG storage tanks in Yancheng Binhai Port Industrial Park in Jiangsu province on Thursday.

In all, six tanks independently developed and designed by CNOOC will be built at a cost of 6.1 billion yuan ($955.9 million).

In the first phase, four LNG storage tanks had been built. Upon completion at the end of 2023, the full project will have 10 tanks, including six new ultra-large tanks, which will have a total volume of 270,000 cubic meters. Supporting facilities will start operations at the same time.


Didi Chuxing unveils US IPO filing

Chinese ride-hailing heavyweight Didi Chuxing on Thursday made public its filling for an initial public offering, expected to be one of the world's biggest IPOs this year, for a US stock market.

The move came after Didi saw a strong revenue performance in the first quarter of this year, with ride-hailing services resuming amid the receding of the COVID-19 pandemic.

Backed by big tech names such as SoftBank, Alibaba and Tencent, Didi did not disclose the size of the offering, but Reuters quoted sources familiar with the matter as saying that the ride-hailing giant could raise around $10 billion and seek a valuation of close to $100 billion.


China's top liquor brand forecasts output at 55,300 tons for 2021

GUIYANG - China's leading liquor brand Kweichow Moutai said that its annual liquor output is expected to reach 55,300 tons in 2021.

In 2020, the company's revenue reached nearly 98 billion yuan ($15.4 billion), a year-on-year increase of 10.29 percent, said Gao Weidong, chairman of the board, at the company's 2020 annual general meeting of shareholders on Wednesday.

The net profit attributed to shareholders of the parent company reached nearly 46.7 billion yuan in 2020, an annual increase of 13.33 percent, said Gao.

In March, the liquor maker set its revenue growth target for 2021 at around 10.5 percent and planned to invest over 6.8 billion yuan in infrastructure construction this year.


Henkel banking on strong demand in China in coming years

Henkel, the German industrial and consumer goods manufacturer, will continue to invest and support its partners in China in the coming years, as part of its efforts to bank on the country's strong demand from food packaging, home improvement to automotive and consumer electronics, said a senior executive.

The company announced one of its biggest investments in China of about 500 million yuan ($78.35 million) late last month, to expand its adhesive technologies innovation center in the high-tech industry cluster in Zhangjiang, Shanghai.

The facility is expected to transform Henkel's current Zhangjiang site into an innovation center for both China and the Asia-Pacific region, and reinforce the position of Henkel's adhesive technologies to serve a variety of industries and develop advanced adhesives, sealants and functional coatings solutions for customers in the region.

Miss-Fresh&Dingdong Maicai

Two fresh-food delivery firms plan US listings

Fresh-food delivery firms Miss-Fresh and Dingdong Maicai are vying with each other to raise funds via IPOs on United States bourses, as competition in the Chinese online grocery delivery segment is intensifying, experts said.

MissFresh, backed by tech giant Tencent Holdings, plans to raise funds from the Nasdaq through a listing of its American depositary shares. The company is likely to raise $500 million to $1 billion from the share sale, according to Bloomberg.

Dingdong Maicai plans to list its shares on the New York Stock Exchange, according to its filing. The Shanghai-based e-grocer is backed by investors like Sequoia Capital and Tiger Global Management.


Firms behind Kenya's railway focus of open day

Kenya's Standard Gauge Railway, or SGR, is the country's largest infrastructure project since its independence in 1963. Africa Star Railways Operation Company Limited, or Afristar, a subsidiary of China Road and Bridge Corp which is owned by China Communications Construction Company (CCCC), runs the Chinese-built Mombasa-Nairobi railway.