Tesco Barely in Profit as it Prepares U.S. Exit
(LONDON) — Tesco PLC, Britain’s largest supermarket operator, says it is looking to sell its U.S. operations after failing to make an impression over six years. Tesco said Wednesday that net profit for the year dropped 96 percent to 120 million pounds ($183 million) following a 1.2 billion pounds writedown to exit its Fresh & Easy brand in the U.S. It also took an 804 million pounds writedown on its U.K. property portfolio. Fresh & Easy has nearly 200 stores in California, Arizona and Nevada. Tesco says it is also leaving Japan and taking a more measured approach to growth in China. Chief Executive Philip Clarke told the BBC that the decision to leave the United States was right for shareholders and that the company was looking for a single buyer. MORE: How the Entry of Walmart and Big Retail Chains Will Change India
China trounces U.S. in green energy investments
China retook its top spot as global leader in the clean energy race, attracting nearly twice the green energy investment dollars last year as the United States did.
United States: Phasing Out China’s One-Child Policy? - Fisher & Phillips LLP
In March, China’s leadership announced that the Ministry of Health and the National Population and Family Planning Commission will merge.
Found 1 month ago on channel Mondaq
Countries with the most people yearning to breathe free
Roughly 138 million people worldwide, or about 2 percent of the world’s adult population, want to immigrate to the U.S. In China, as many as 19 million adults would like to move to the land of opportunity -- the largest number of any country. Based on data provided by Gallup, 24/7 Wall St. reviewed the seven countries where the most people want to come to the United States.Not surprisingly, these ...
Found 1 month ago on channel MSNBC
How the U.S. Travel Industry is Adapting to a Growing Wave of Chinese Tourists
Tourists from China now spend more on international travel than tourists from any other country. The U.S. travel industry is slowly learning how to attract them. According to a report released last week by the United Nations World Tourism Organization (UNWTO), Chinese travelers spent $102 billion on international tourism in 2012, 40% more than they spent in 2011. More than 80 million Chinese traveled internationally in 2011, outspending German tourists – the long-time leader in overseas travel spending – for the first time. Those numbers have steadily climbed since 2000, when 10 million Chinese traveled abroad. (MORE: Report: Google Fiber Coming to Austin as Cities Race to Boost Web Speeds) This remarkable growth – largely due to relaxed government restrictions on foreign travel and the rise of a Chinese middle class with disposable income – has forced the U.S. travel industry, from hotels to restaurants to shopping centers, to adapt to this influx of Chinese tourists. The hotel ...