BERLIN (Reuters) - The escalating trade conflict between the United States and China is hitting German companies doing business in both countries, a survey by the DIHK Chambers of Industry and Commerce showed on Thursday. China has warned the United States it would hit back if the Trump administration takes further steps hindering trade as Washington considers slapping a 25 percent tariff on $200 billion worth of Chinese goods. The proposal would increase the potential tariff rate from 10 percent the U.S. administration had initially put forward on July 10 for that wave of duties in a bid to pressure Beijing into making trade concessions, a source familiar with the plan said on Tuesday. The U.S. tariffs target thousands of Chinese imports, including food products, chemicals, steel and aluminium and consumer goods ranging from dog food, furniture and carpets to car tires, bicycles, and baseball gloves and beauty products. The DIHK said a survey among its members doing business in China … [Read more...] about U.S.-China trade dispute hitting German companies
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Delivered hot: Starbucks bets on Alibaba tie-up to revive China sales
SHANGHAI (Reuters) - Starbucks Corp (SBUX.O) is partnering with Alibaba (BABA.N) to deliver its coffee in Chinese cities starting this fall, betting the move will revive sales growth in its second-largest market that is witnessing aggressive local competition. Starbucks flagged in June that it was pursuing such a tie-up after reporting a sudden slowdown in China sales growth, which it blamed partly on a crackdown on third-party delivery firms that had previously helped drive orders at its cafes. “I consider this strategic partnership to be one that ... will just be rocket fuel for Starbucks’ growth and continued expansion in China,” Starbucks Chief Executive Kevin Johnson told reporters in Shanghai on Thursday. The Seattle-based company will pilot delivery services from 150 Starbucks stores in Beijing and Shanghai and plans to expand that to more than 2,000 stores across 30 cities by the end of the year, Starbucks and Alibaba said in a joint statement. Starbucks … [Read more...] about Delivered hot: Starbucks bets on Alibaba tie-up to revive China sales
Starbucks Partners With Alibaba, as It Tries to Keep Its Throne in China
Sections SEARCH Skip to content Skip to site index Business Day Subscribe Log In Subscribe Log In Today's Paper Advertisement Supported by BySui-Lee Wee Aug. 2, 2018 SHANGHAI — For years, Starbucks was the undisputed king of coffee in China. It single-handedly created a market of coffee drinkers in a nation of tea lovers, cashing in on a wave of affluent Chinese who looked to Starbucks as an aspirational brand. The country quickly became the coffee chain’s second-largest market after the United States. But Starbucks’s dominance in China is increasingly under attack, as growth begins to slow and competitors aggressively target coffee drinkers. Starbucks executives have come under scrutiny for being slow to adapt to technological shifts and retail trends in the country, namely delivery. On Thursday, in a bid to revitalize its China operation, the company announced what it called a strategic “new retail” … [Read more...] about Starbucks Partners With Alibaba, as It Tries to Keep Its Throne in China
China Eastern, Japan Airlines link up as more Chinese tour Japan
SHANGHAI (Reuters) - China Eastern Airlines Corp Ltd (600115.SS) and Japan Airlines Co Ltd (JAL) (9201.T) on Thursday said they will form a joint venture to cooperate on China-Japan routes, in the first such deal between a Chinese and Japanese carrier. FILE PHOTO: A China Eastern Airlines Airbus A320-200 plane takes off from Dalian airport in Dalian, Liaoning province, China December 3, 2017. Picture taken December 3, 2017. REUTERS/Stringer /File Photo The companies said in a press release handed out before the signing ceremony that they planned to work together on flight pricing and scheduling. The joint venture will require government approval and they hope that it will be able to start operations from 2019, they added. Reporting by Brenda Goh and SHANGHAI Newsroom … [Read more...] about China Eastern, Japan Airlines link up as more Chinese tour Japan
Asian markets extend losses on China-US trade jitters
Elaine Kurtenbach, Ap Business Writer Updated 2:25 am CDT, Thursday, August 2, 2018 window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-c', container: 'taboola-interstitial-gallery-thumbnails-4', placement: 'Interstitial Gallery Thumbnails 4', target_type: 'mix' }); _taboola.push({flush: true}); Photo: Kin Cheung, AP Image 1of/4 CaptionClose Image 1 of 4 People walk past an electronic board showing Hong Kong share index outside a bank in Hong Kong, Thursday, Aug. 2, 2018. Share benchmarks in Asia are sliding, tracking losses overnight on Wall Street, where investors sold industrial stocks following reports that the Trump administration is considering a higher tax rate on Chinese imports. less People walk past an electronic board showing Hong Kong share index outside a bank in Hong Kong, Thursday, Aug. 2, 2018. Share benchmarks in Asia are sliding, tracking losses … [Read more...] about Asian markets extend losses on China-US trade jitters