IKEA to Spend USD1.41 Billion Next Year in Largest-Ever China Investment

IKEA to Spend USD1.41 Billion Next Year in Largest-Ever China Investment

IKEA plans to invest CNY10 billion (USD1.41 billion) in the Chinese market to advance its commercial operations and digitization, it announced today at a press briefing in Beijing at which it outlined its strategy for the next three years. This...

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Amazon Alexa will soon help people check in on aging relatives, with new skill from State Farm

Amazon Alexa will soon help people check in on aging relatives, with new skill from State Farm

State Farm and Amazon are both looking for ways to provide additional services to seniors, a big and growing demographic. State Farm’s Alexa skill will provide options such as check-ins and suggested social activities to help family members...

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China’s BYD Debuts as No. 3 on Fortune’s Change the World List, Promoting Shift to NEVs

China’s BYD Debuts as No. 3 on Fortune’s Change the World List, Promoting Shift to NEVs

BYD has made it to Fortune’s Change the World List for the first time, claiming third place, as the Chinese electric carmaker expands its social impact to create a cleaner future of driving. BYD, originally a phone battery maker, produced...

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Goldman Sachs Bids for Majority Stake in Its China Securities JV

Goldman Sachs Bids for Majority Stake in Its China Securities JV

Goldman Sachs Group has applied to the China Securities Regulatory Commission to raise its shareholding in its securities joint venture Goldman Sachs Gao Hua Securities to 51 percent, a company spokesman confirmed to Yicai Global yesterday. The...

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President Trump says Apple CEO Tim Cook is the only tech executive who actually calls him directly

President Trump says Apple CEO Tim Cook is the only tech executive who actually calls him directly

President Trump speaks with Apple CEO Tim Cook because he calls him personally rather than hiring consultants to do so, Trump told reporters on Wednesday. Trump also referenced the recent conversation he had with Cook about how the tariffs on...

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Amazon opens its biggest global campus in India

Amazon opens its biggest global campus in India

Amazon has opened its biggest office in the world in Hyderabad, India. The move comes months after Amazon scrapped plans to open another U.S. headquarters in New York and picked Arlington, Virginia, instead. Amazon on Wednesday launched its...

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China’s Web Firm Momo Is Fortune’s Fastest-Growing Company

China’s Web Firm Momo Is Fortune’s Fastest-Growing Company

Chinese internet company Momo has overtaken such big names as Netflix and Amazon.Com to win first place on the ranking Fortune magazine released today of the world’s top three-year performers. The list measures revenue, profits and stock...

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Nearly 600 China-Listed Firms’ Average Net Profit Rose 20% in First Half

Nearly 600 China-Listed Firms’ Average Net Profit Rose 20% in First Half

The 595 Chinese domestic A-share listed companies that released first-half financial reports yesterday logged an aggregate net profit of CNY328 million (USD47 million), up 22 percent from a year ago. Of these, the net profit of 64 increased over...

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China News Weekly 123 – China January-July FDI up 7.3% Year on Year in  Yuan Terms

China News Weekly 123 – China January-July FDI up 7.3% Year on Year in Yuan Terms

Click here to find more details This is NAI’s new China News Weekly. We will be covering the latest Chinese foreign investment trends every week. To continue to receive our China News Weekly, please click the button below to subscribe.

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Foxconn’s Shanghai-Listed Arm Pocketed USD779 Million in First Half

Foxconn’s Shanghai-Listed Arm Pocketed USD779 Million in First Half

Foxconn Industrial Internet, the Shanghai-listed unit of Taiwanese electronics manufacturing titan Foxconn Technology Group, made CNY5.5 billion (USD779 million) in net profit in the first half of this year and is gearing up for a 5G-related...

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Verizon sells Tumblr to WordPress owner six years after Yahoo bought it for $1.1 billion

Verizon sells Tumblr to WordPress owner six years after Yahoo bought it for $1.1 billion

Verizon is selling Tumblr to Automattic, the company that owns WordPress. Verizon inherited Tumblr as part of its 2017 acquisition of Yahoo, which had purchased Tumblr for $1.1 billion in 2013. Verizon is selling Tumblr, the blogging social...

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