China’s Dalian Wanda has pulled out of a $1bn bid for the owner of the Golden Globe TV and film awards, according to the US firm’s parent company.A clampdown by the Chinese government on overseas investments is thought to be to blame.Eldridge Industries, the owner of Dick Clark Productions which runs the Golden Globes, said Wanda had failed to "honour its contractual obligations".It added Dick Clark Production was suing Wanda for funds it was owned.Dalian Wanda is run by China’s richest man and property magnate Wang Jianlin. The company has yet to comment on the issue.’Irrational inv...
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2017
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Today’s World Consumer Rights Day, also known as ’3.15’ in China, is a day that can strike fear into the hearts of consumer-facing brands in China. That’s because 15 March is the day the national broadcaster CCTV (China Central Television) airs an exposé show that has the ability to push corporate communicators instantly into crisis-management mode.Broadcast since 1991, the programme has in the past left brands such as Apple, Nikon and food app Ele.me, dealing with fallout on the morning of 16 March. It’s probably a coincidence that the programme airs on the ’Ides of March’—the date of th...
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2017
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China’s "sharing economy" took off in 2016 with a 103-percent increase in transaction volume, according to a new report.The sector saw deals worth some 3.45 trillion yuan (500 billion U.S. dollars) last year, according to a report released by the Sharing Economy Research Center under the State Information Center.During that period, a total of 600 million people were involved in the industry, up 100 million from the previous year.Transport, short-term house renting and medical services posted strong growth, it said.Enterprises in the sector raised 171 billion yuan last year, an annual...
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2017
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At least 20,000 people from Myanmar have fled across the border to China after violence erupted between ethnic rebels and the security forces.Thousands entered border camps and are receiving humanitarian assistance, China’s foreign ministry said.Earlier this week, about 30 people were killed on Myanmar’s border with China after rebels launched a surprise raid.The violence is a blow to efforts by Myanmar’s de facto leader, Aung San Suu Kyi, to end decades of conflict.The latest clashes, which involved artillery and small-arms fire, took place in the town of Laukkai in the Kokang region in the n...
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2017
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Park Geun-hye has become the first democratically elected South Korean president to be forced from office, after the country’s constitutional court upheld a parliamentary vote to impeach her over a corruption and cronyism scandal that could see her face criminal charges.South Korea now has 60 days to elect a new leader after the court’s eight justices unanimously supported the impeachment motion, passed overwhelmingly in December by the national assembly, which accused Park of extortion, bribery, abuse of power and leaking government secrets.The ruling, delivered live on television on Friday m...
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2017
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