6 h. ago Starbucks China attracts bids at up to $10 billion valuation, CNBC reports

Starbucks China attracts bids at up to $10 billion valuation, CNBC reports  Reuters

Economics

6 h. ago Starbucks China attracts bids valuing the coffee chain at up to $10 billion, sources say

Starbucks China attracts bids valuing the coffee chain at up to $10 billion, sources say  CNBC

Economics

2 w. ago Hong Kong bakery chain Taipan, creator of snowy mooncakes, closes after 41 years

Hong Kong bakery chain Taipan Bread and Cakes, which invented snowy mooncakes, has closed all its branches after 41 years in business. Notices announcing the closure were seen at several chain branches on Tuesday. “Due to many unpredictable and irresistible shocks recently, our company regretfully announces that it will officially cease operations from [Tuesday],” a notice said. “Thank you for your support and love for our company over the years. We sincerely apologise for any inconvenience this...

Politics

2 w. ago Hong Kong bakery Taipan, creator of snow skin mooncakes, closes after 41 years

Hong Kong bakery chain Taipan Bread and Cakes, which invented snow skin mooncakes, has closed all its branches after 41 years in business. Notices announcing the closure were seen at several chain branches on Tuesday. “Due to many unpredictable and irresistible shocks recently, our company regretfully announces that it will officially cease operations from [Tuesday],” a notice said. “Thank you for your support and love for our company over the years. We sincerely apologise for any inconvenience...

Politics

2 w. ago Hong Kong bakery Taipan closes after 41 years owing ‘HK$10 million in wages’

Hong Kong bakery chain Taipan Bread & Cakes, which invented “snow skin” mooncakes, has closed all of its branches after 41 years in business, with the labour minister estimating it owes more than 200 workers about HK$10 million (US$1.3 million) in unpaid wages and severance pay. Secretary for Labour and Welfare Chris Sun Yuk-han said on Tuesday that 82 of the bakery’s more than 200 workers had approached the Labour Department to register wages owed to them as of noon. “We understand that their...

Economics

2 w. ago Hong Kong bakery Taipan closes after 41 years owing HK$16 million in wages

Hong Kong bakery chain Taipan Bread & Cakes, which invented “snow skin” mooncakes, has closed all of its branches after 41 years in business, with authorities estimating it owes at least HK$16 million (US$2 million) in unpaid wages and severance pay. The Labour Department said on Tuesday that it had helped about 120 employees register claims as of 3pm, primarily involving outstanding wages and severance payments, with the total amount reaching about HK$16 million. Secretary for Labour and...

Economics

3 w. ago What is the US’ island chain strategy and what does it mean for China?

China’s navy is pushing past the strategic island chains that for decades have marked defensive boundaries for the United States and its allies in the Western Pacific. The deployment of two Chinese aircraft carrier groups in the open waters of the Pacific Ocean since late May has underscored a critical advance in Beijing’s ambitions to become a blue-water navy by 2035. The Liaoning and Shandong have been on a routine training exercise to test their “far-sea defences and joint operational...

Politics

3 w. ago Chinese aircraft carriers’ Pacific presence sparks warnings for Philippines

The crossing of a US-designated island chain in the Western Pacific by a Chinese carrier group marks an increase in Beijing’s “operational tempo” that the Philippines should pay heed to, observers say. They warn, however, that a “delicate balance” should still be maintained to avoid any escalation amid calls for vigilance. Regional governments such as Japan and Taiwan have advised increased caution, and a former official in the Joe Biden administration has suggested formalising the so-called...

Events

3 w. ago What does China’s PLA gain from operating 2 carriers in second island chain?

In sending two aircraft carriers to the western Pacific concurrently for the first time, Beijing is learning to coordinate the vessels in open ocean, a tactic it would likely use to deter US forces in a Taiwan conflict, according to defence analysts. The two carriers – the Liaoning and Shandong – were spotted in the waters, having entered the western Pacific via separate courses over the past two weeks. They are believed to have practised dispersing, concentrating and communicating in the...

Politics

4 w. ago China’s Liaoning and Shandong aircraft carriers sail beyond second island chain

In an unprecedented show of strength, the Chinese aircraft carriers Liaoning and Shandong have been conducting exercises in the western Pacific Ocean beyond the second island chain, according to the Japanese defence ministry. In a statement on Monday, the ministry said the Shandong strike group was spotted earlier that day, conducting take-off and landing operations of its jet fighters and helicopters about 500km (311 miles) southwest of Iwo Jima and north of Okinotori. It followed the...

Transport