Hong Kong flag carrier Cathay Pacific Airways’ cargo business faces declining China-US e-commerce volumes, rising chartered flight cancellations and falling freight spot rates, but full-year profits could be cushioned by lower jet fuel costs, according to a research report. The report, which was published by HSBC on Wednesday, also said the company’s cargo business would…
Gilly Wong Fung-han, chief executive of Hong Kong’s consumer watchdog, is expected to leave her role later this month after nearly 13 years on the job, the Post has learned. A source familiar with the matter said on Saturday an official announcement would be made as soon as May 6. The Consumer Council posted a…
The expansion of the loophole for tariff-free shipments of goods nearly a decade ago gave rise to Temu, Shein and other low-cost online retailers offering items straight from Chinese factories at unfathomable discounts. It also unleashed something else — a cascade of billions of dollars of digital advertising that provided a windfall for Meta, Alphabet…
The auditorium at Alibaba’s headquarters was packed with attendees, leaning against the wall and squeezing onto the stairs. Hundreds of Chinese small-business owners listened raptly as a stream of representatives from Alibaba, the Chinese online shopping giant, stepped onstage to reassure them of China’s resilience in the face of America’s eye-watering tariffs. “Since the beginning…
The digital advertising market may be on the verge of a major shakeup, as the US government targets Google and Meta for antitrust actions — further complicating the online ad space as more fashion brands invest in their e-commerce businesses. On April 17, a federal judge ruled that Google has an illegal monopoly on the…
The U.S. tariff rate on Chinese goods now stands at 145%, according to The White House. Spencer Platt | Getty Images News | Getty Images While recent news of United States President Donald Trump’s on-again off-again tariffs has led to wild swings in markets and shaken businesses globally, companies that rely on open trade between…
Hong Kong’s postal service provider will stop accepting airmail parcels to the United States in 10 days after suspending the handling of US-bound packages by land and sea on Wednesday amid the coming tariff increase. US President Donald Trump last week announced plans to further raise tariffs on small parcels sent to his country from…
The founder and former CEO of a US-based e-commerce firm was charged with making false claims about his company’s artificial intelligence (AI) technology when he actually employed human workers at a call center located in the Philippines. Saniger misled investors and the public about the AI in his Nate shopping app.(Screengrab LinkedIn/@Albert Saniger) Albert Saniger,…
Fashion goes in and out of style, and so, it turns out, do fashion startups. Lyst — the high-end fashion marketplace with 160 million users that was once valued at $700 million — has been acquired for just $154 million in an all-cash deal. The buyer is Zozo, a Japan-based fashion and e-commerce business. Zozo…
Famous Hong Kong singer and actor Nicholas Tse has yet again proved his business acumen by selling 1.5 billion yuan-worth (US$207 million) of sausages in China over the past three years. Tse’s food company, based in Hangzhou, Zhejiang province, eastern China, known as the brand Chef Nic Π, or fengweipai in Chinese, has also been…