Internet search giant Baidu acknowledged it had enacted a hiring freeze on large-scale recruiting outside its central campus, AllChinaTech reported, citing local media. Baidu confirmed the freeze in response to an interview request from China Business News following the leak of what appeared to be an internal email from Liu Hui, the company’s vice president […]
Category: Business Practice
Restaurant conglomerate Yum Brands, owner of KFC and Pizza Hut, has announced it will split its China operations into a separate company after being pressured for years by investment analysts and investors over growing weakness in the region, The New York Times reported, citing a statement from the company. Average sales of a KFC store […]
China General Nuclear Corp, one of two mainland firms expected to invest in the UK’s Hinkley Point power station left out hundreds of critical steel rods during construction of its first reactor near Hong Kong in 1987–though the omission was later addressed, The Guardian reported. Industry observers believe GBP2 billion (US$3.095 billion) in initial financing […]
Alibaba-affiliated online payment service Alipay has blamed a data leak for the unauthorized linking of a customer’s account for payments to multiple e-commerce websites, but didn’t clarify whether other users experiencing the same problem were victims of the same leak, Caixin reported. An unnamed Alipay employee said that the team responsible for designing the company’s website […]
Sam Pa, frontman for the secretive Hong Kong-based business network at the center of many China-Africa deals known as Queensway Group, was detained at a hotel in Beijing on October 8, The Financial Times reported, citing local media. News magazine Caixin said Pa’s detention was related to the investigation of Su Shulin, governor of Fujian […]