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NZ’s Restaurant Brands to exit Starbucks business in New Zealand

Restaurant Brands New Zealand Ltd said on Monday it would not renew its licence deal with Starbucks Corp when it expires in October. The fast-food company said in a statement it had sold fixed assets and stock related to its deal with Starbucks Coffee International, Inc to New-Zealand based Tahua Capital for NZ$4.4 million ($2.9 million). Restaurant Brands intends on focusing on its core businesses of quick-service restaurant brands and said the Starbucks Coffee business was “becoming less relevant to the company’s overall direction”. …read more […]

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JD.com's billionaire CEO released after U.S. arrest

The billionaire founder and chief executive of Chinese e-commerce firm JD.com Inc , Richard Liu, was arrested in the U.S. state of Minnesota on suspicion of criminal sexual conduct and later released after what the company said was a false accusation. JD.com, backed by Walmart Inc , Alphabet Inc’s Google, and China’s Tencent Holdings Ltd , said in a statement on Sunday that Liu, whose Chinese name is Liu Qiangdong, was falsely accused. …read more […]

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JD.com’s billionaire CEO released after U.S. arrest

The billionaire founder and chief executive of Chinese e-commerce giant JD.com Inc (JD.O), Richard Liu, was arrested in the U.S. state of Minnesota on suspicion of criminal sexual conduct and later released after what the company said was a false accusation. JD.com, backed by Walmart Inc (WMT.N), Alphabet Inc’s (GOOGL.O) Google, and China’s Tencent Holdings , said in a statement on Sunday that Liu, whose Chinese name is Liu Qiangdong, was falsely accused. …read more […]

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Ford to ditch the Mondeo and scrap up to 24,000 jobs in 'aggressive' cost-cutting overhaul

Ford is drawing up drastic plans to slash costs by scrapping its Mondeo range of mid-market family cars and cutting up to 24,000 workers. Thousands of staff who work for the car maker are at risk of redundancy while the famous ‘Mondeo Man’ which embodied an aspiring political class of voters under former Labour leader Tony Blair could be on his way out. The Detroit car maker could slash up to 12pc of its global workforce in “deep and fundamental” plans being formulated in its headquarters in Dearborn, Michigan. Many of the cuts are feared to come from the company’s …read more […]