China Economic ReviewRetailing giant Wal-Mart has apparently signed a deal involving wind power in an attempt to green its business. Speaking to reporters at the firm’s “Sustainability Summit” in Beijing, Wal-Mart’s CEO Lee Scott let the cat out of the bag. Scott was enumerating the different ways Wal-Mart has been a friend to the environment by bringing […]
New Zealand-based Fonterra Cooperative Group is considering selling its 43% stake in Sanlu Group – the Hebei-based dairy firm at the center of an industry-wide product safety scandal, Bloomberg reported. Fonterra CEO Andrew Ferrier said in a statement that a number of options were available for Sanlu’s future, including an acquisition of the stake by a […]
Japan’s health ministry on Wednesday instructed retailers and importers to suspend sales of frozen green beans from a Chinese supplier after detecting high levels of pesticides, AFP reported. Three people fell ill from eating beans manufactured by Shandong-based Yantai Beihai Foodstuffs. Testing by the Tokyo metropolitan government found the beans had 34,500 times the pesticide […]
China’s largest beverage maker, Wahaha, has expressed interest in acquiring Sanlu, the dairy company at the center of recent industry-wide tainted-milk scandals, the Wall Street Journal reported. A Wahaha spokesman confirmed that company chairman Zong Qinghou was considering buying out the Hebei-based dairy firm, which Zong told state media would save Wahaha from having to […]
The National Basketball Association has formed a joint venture with Anschutz Entertainment Group (AEG) to develop multipurpose arenas in China, AP reported. The venture, to be equally owned by the NBA and AEG, has long-term plans to develop buildings in several major cities. "We anticipate that in a relatively short order we will have laid […]