介绍:
China's industrial profit down 0.3 pct in June
Official data shows profits at major Chinese industrial firms dropped 0.3 percent year on year in June, down from a 0.6 percent growth posted in May.
The National Bureau of Statistics attributed the decline to the drop in price of industrial goods, rise in unit costs, and a large base of comparison last year.
Meanwhile, the NBS noted that despite the fall, industrial companies have been profiting at a stable level with the total percentage decline slowing every month.
The bureau said that the interest rate cuts have been very effective in helping the companies reduce financing costs and boost revenue.
The data also shows of all the 41 categories, 30 sectors registered year on year growth while 11 industries such as mining and car manufacturing saw declines.
Are big-name newspapers really dying a slow death?
Anchor:
British publisher and educational group Pearson is in talks to sell its 50 percent stake in The Economist Group, owner of famous international and business magazine The Economist.
The news comes just two days after the British publishing company agreed to sell Financial Times to the largest Japanese financial media group, Nikkei, for 1.3 billion U.S. dollars.
In recent years, Pearson has been focusing on the growing market of online learning and vocational education and is trying to reduce its investment in media and press.
However, Pearson's moves are feeding the assertion that the days of print media are numbered.
Changes in ownership for famous print media have been rather frequent in recent years.
In 2013, Jeffrey Bezos, founder of Amazon.com, bought The Washington Post from the Graham family, which has been running the newspaper for more than four decades.
For more on this, CRI's Shane Bigham earlier spoke with Mike Bastin, director of China Business Center based in London.
…
Back Anchor:
Mike Bastin, director of China Business Center based in London, speaking with CRI's Shane Bigham.
GOME to Buy Assets to Expand Retail Network
Chinese home appliance retailer Gome Electrical Appliances Holdings is going to buy retail assets from its controlling shareholder to expand its retail network it does not cover yet.
Gome has agreed to buy Artway Developments, which is owned by controlling shareholder Huang Guangyu, for 11.3 billion Hong Kong dollars or about 1.4 billion U.S. dollars.
GOME will pay for the deal with cash, new shares and warrants.
Under the deal, Gome will acquire altogether 578 stores in 181 Chinese cities, which it currently already operates but does not own.
Chinese-invested telco firm launches 4G services in Cambodia
Chinese-owned Southeast Asia Telecommunications has launched its 4G network in Cambodia after entering the country's oversubscribed telcoms sector last year.
Seatel's service is currently available in 17 provinces in Cambodia and will cover the remaining provinces by years-end.
Seatel's total investment is about 4-hundred million U.S. dollars, of which one hundred million U.S. dollars have been invested so far.
The company will provide prospective customers with 4G VoLTE services, which promises high-speed internet and high-quality calls.
Cambodia currently has six mobile phone operators and around 27 internet service providers.
Wanda Plans to Close 40 Department Stores amid Transformation
Chinese real estate and entertainment conglomerate Dalian Wanda Group is planning to slash more than 40 department stores and 80 karaoke outlets nationwide.
The move aims to cut the company's reliance on the property sector and to diversify its business.
The company announced earlier this month that it wants 65 percent of its net profits to come from services by 2018, two years ahead of its original schedule.
Its property sector will only account for less than 35 percent of its profit by then.
The company is also going to set up a financial-services arm to buy banking, securities and insurance companies while expanding further into sports and electronic sectors.
Fiat Chrysler to Pay $105 Million Fine over Recall Failure
US regulators are fining Fiat Chrysler 105 million U.S. dollars over recall failures.
This is the largest fine so far imposed by the National Highway Traffic Safety Administration.
The penalties were prompted by the execution of 23 safety recalls covering more than 11 million defective cars.
The Italian-American auto maker will also offer to buy 1.5 million vehicles as part of the deal with the regulator.
The fine comes days after the auto maker announced another recall over software faults in one of its models.
Real Madrid and Alibaba reach strategic partnership
Spanish football club Real Madrid has established a strategic partnership with Chinese e-commerce giant Alibaba.
Under the partnership, Real Madrid will open its flagship store outside of Spain in Alibaba's online marketplace Tmall.HK.
The Spanish football club became the second Europe top club to open the flagship store in Tmall.HK after the German powerhouse Bayern Munich.
Real Madrid jerseys, shoes, casual wear will soon be available in Tmall.HK.
大家还在听
