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  • August 21, 2014
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  1. Business - Economy

    US retail sales in sluggish start to quarter

    Posted Aug 14th 2014, 01:28am by BLOOM

    ... Bloomberg in Washington US retail sales in sluggish start to quarter Retail sales in the United States were little changed last month, the worst performance in six months, as car demand ... Some retailers must rely on promotions and discounts to entice customers, whose spending accounts for about 70 per cent of the economy. "We're seeing decent but not great consumer ...

    http://www.scmp.com/business/economy/article/1573095/us-retail-sales-sluggish-start-quarter
  2. Business - Banking & Finance - STRATEGY

    Wells Fargo takes retail out of game plan for China

    Posted Aug 04th 2014, 03:40am by DON WEINLAND

    ... Fargo takes retail out of game plan for China In the decade since the mainland opened its gate with much fanfare to foreign financial institutions, it has dished out some tough lessons on what ... some blunt insight on how to compete among its biggest financial institutions. Simply put: don't- at least not in retail banking. Wells Fargo had no intention of incorporating locally, ...

    http://www.scmp.com/business/banking-finance/article/1565748/wells-fargo-takes-retail-out-game-plan-china
  3. Comment - Insight & Opinion - JAKE'S VIEW

    'Grim' retail sales index tells only fraction of story

    Posted Aug 03rd 2014, 04:25am by Jake Van Der Kamp

    ... Jake van der Kamp Don't panic, retail sales index doesn't tell whole story The grim performance of Hong Kong's retail sales continued in June, producing the worst first-half ... The retail sales survey that goes into making up the retail sales index covers only 31 per cent of retail sales in Hong Kong. That's right, fewer than one-third of total retail sales. It used ...

    http://www.scmp.com/comment/insight-opinion/article/1565124/grim-retail-sales-index-tells-only-fraction-story
  4. Business - China Business - ENERGY

    Ruentex pact paves way for Sinopec retail spin-off

    Posted Aug 04th 2014, 03:40am by Eric Ng

    ... Eric Ng eric.mpng@scmp.com Agreement with the Taiwanese group is expected to help the oil giant negotiate better terms with potential investors for its fuel retailing unit Sinopec eyes spin-off from Ruentex pact China Petroleum & Chemical Corp's (Sinopec) pact with Taiwanese retailing major Ruentex Group last week will help the oil giant negotiate better terms ...

    http://www.scmp.com/business/china-business/article/1565713/ruentex-pact-paves-way-sinopec-retail-spin
  5. Business - Companies - EARNINGS

    Houseware retailer takes MTR route to expansion

    Posted Jul 28th 2014, 04:27am by TIFFANY AP

    ... Tiffany Ap tiffany.ap@scmp.com Company plans to open stores in train stations after posting 42.2 per cent increase in profit Houseware retailer takes MTR route to expansion International Housewares Retail, which runs the store chain Japan Home Centre, plans to open its first store in an MTR station, in Siu Hong, in September, with two more MTR station outlets to follow by the end ...

    http://www.scmp.com/business/companies/article/1560741/houseware-retailer-takes-mtr-route-expansion
  6. Business - Companies - EARNINGS

    Fast Retailing cuts 2014 profit forecast

    Posted Jul 11th 2014, 01:31am by BLOOM

    ... Bloomberg in Tokyo Fast Retailing cuts annual profit forecast Fast Retailing, Asia's biggest clothing retailer, cut its forecast for annual profit for the second time in the current ... not profitable" and did not meet target in the third quarter, Fast Retailing spokesman Keiji Furukawa said. There could be an impairment charge relating to the unit and costs of opening US stores ...

    http://www.scmp.com/business/companies/article/1551432/fast-retailing-cuts-2014-profit-forecast
  7. Business - Economy - RETAIL

    Hong Kong year-on-year retail sales show 4.1 per cent drop for May

    Posted Jul 03rd 2014, 11:47pm by TIFFANY AP

    ... Tiffany Ap tiffany.ap@scmp.com Year-on-year consumer spending dropped by 4.1pc in May amid ongoing effects of poor jewellery sales and discounting by retailers City's shop sales drop for third month Hong Kong's retail sales fell 4.1 per cent year on year in May, the third straight month of shrinking consumer spending exclusing the Lunar New Year month of Feburary, ...

    http://www.scmp.com/business/economy/article/1546132/hong-kong-year-year-retail-sales-show-41-cent-drop-may
  8. Business - Banking & Finance - CURRENCIES

    Mainland China banks set own yuan rates for retail clients

    Posted Jul 04th 2014, 01:41am by DON WEINLAND

    ... Don Weinland don.weinland@scmp.com Beijing's latest easing on exchange rate with greenback comes in lead-up to talks with US Mainland banks set own yuan rates for retail clients Mainland banks set their own exchange rates for the yuan against the US dollar for the first time yesterday in deals with retail clients, following the latest steps by the People's Bank ...

    http://www.scmp.com/business/banking-finance/article/1546129/mainland-china-banks-set-own-yuan-rates-retail-clients
  9. Business - Banking & Finance - BANKS

    Singapore changes liquidity rules for major retail banks

    Posted Jun 26th 2014, 01:08am by BLOOM

    ... Bloomberg in Singapore Large retail lenders will be required to hold cash assets in the country to support outflows Singapore brings in liquidity reform Singapore said banks with a "significant retail presence" in the city-state will soon be required to maintain some liquid assets in the country to support short-term cash outflows. The new liquidity framework applies to all ...

    http://www.scmp.com/business/banking-finance/article/1540543/singapore-changes-liquidity-rules-major-retail-banks
  10. Business - China Business

    Corrections & Clarifications

    Posted Mar 06th 2013, 02:18am

    ... In “ MGM builds presence in Cotai strip ”, published on February 28, MGM China was misidentified as a joint venture between two parties. It is, in fact, a subsidiary of MGM Resorts International and partly owned by Pansy Ho Chiu-king. In “ Don’t cap visit ...

    http://www.scmp.com/business/china-business/article/1181150/corrections-clarifications

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