Aug 28 - Major global firms ranging from banks to chipmakers are taking a largely cautious stance on their China business amid a frail recovery at the world's second-largest economy from a pandemic slowdown.
Estee The luxury firmLauder forecast a weak annual profit, owing to a slower-than-expected rebound in Asia travel retail business. Haleon The Sensodyne maker said sales from Fenbid pain reliever gel doubled in China in the first half. Starbucks The coffeehouse chain saw a sharp recovery in China, with third-quarter comparable sales surging 46%. Merck & Co The drugmaker said use of Gardasil in China was the biggest growth driver for the human papillomavirus vaccine. Marriott The U.S. hotel operator said rebounding demand in China International boosted its earnings.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Raimondo: crucial US, China have stable economic relationshipBEIJING (Reuters) -U.S. Commerce Secretary Gina Raimondo opened talks with Chinese government officials on Monday saying it is 'profoundly important' the world's two largest economies have a stable economic relationship. Raimondo is looking to boost business ties as U.S. firms have reported increasing challenges with operating in China, while China has sharply criticized U.S. efforts to block China's access to advanced semiconductors. Raimondo said the entire world expects the United States and China will have a stable economic relationship; the two countries share more than $700 billion in annual trade.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
China’s Travel Rebound Risks Super-Charging Jet Fuel PricesAfter years of pent-up demand for leisure and business travel due to the ravages of Covid-19, millions of Chinese are taking to the skies again as the nation leads an aviation boom across Asia.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
China’s Travel Rebound Risks Super-Charging Jet Fuel Prices(Bloomberg) -- After years of pent-up demand for leisure and business travel due to the ravages of Covid-19, millions of Chinese are taking to the skies again as the nation leads an aviation boom across Asia.Most Read from BloombergSpaceX Blast Left Officials in Disbelief Over Environmental DamageTesla Investors to Get $12,000 Each From Musk’s SEC DealFIFA Suspends Spanish Football Chief Over World Cup KissAfter 15 Years, a New Private Jet Is America’s Most PopularPowell Signals Fed Will Raise R
Source: YahooFinanceCA - 🏆 47. / 63 Read more »