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Tesco completes China exit with $357 million stake sale
LONDON (Reuters) – Britain’s biggest retailer Tesco <TSCO.L> has completed its exit from China with the 275 million pound ($357 million) sale of its joint venture stake to state-run partner China Resources Holdings (CRH). Having struggled to crack the Chinese market, Tesco established the Gain Land venture with CRH in 2014, combining the British group’s […]
Chairman Mao’s favored Red Flag carmaker eyes 1 million customers by 2030
By Yilei Sun and Brenda Goh BEIJING/SHANGHAI (Reuters) – China’s FAW Group [SASACJ.UL] aims to double its annual sales of Chairman Mao Zedong’s carmaker of choice, Hongqi, or Red Flag, to 200,000 units this year and grow them further to 1 million cars in the next decade, its chairman Xu Liuping said. Hongqi, launched in […]
85-year-old missing in Christchurch as temperatures plummet to -4.5
Police have released a list of locations of interest in the search for a missing 85-year-old woman in Canterbury. Shirley Warrington was last seen on Main South Rd in Rolleston at 7.30pm on Saturday night. A police spokesperson said they now have reason to believe she may be in the Ferrymead, Heathcote, or Horotane Valley […]