Connect with us


European companies turn to China



Shenzhen, China.

European companies are developing ties with China, and moving their supply chains onshore.

Around 60 per cent of European companies are planning to expand their China operations this year – up from 51 per cent. Over 585 respondents took part in the questionnaire through the European Chamber of Commerce. Businesses answered questions about their recovery from COVID-19.

European companies said China’s resilience and recovery from the pandemic made the nation an important source of profits and growth.

In all, half the respondents said profits in China were higher than the global average – 38 per cent high than a year earlier.

“The resilience of China’s market provided much-needed shelter for European companies amidst the storm of the Covid-19 pandemic.”


BMW AG and French company, LVMH SE are some of the companies who have turned to China since the pandemic.

Three-quarters of all survey respondents reported a profit in the last year. Meanwhile 14 per cent broke even, which was around the same as previous data.

Onshoring operations

Around a quarter of surveyed companies are onshoring their operations. But nine per cent of companies are actually thinking about moving their investments out, the lowest on record.

Charlotte Roule, from the European Chamber of Commerce said companies are thinking more about their supply chains.

“The main point is to develop supply chain as much as possible here, as far as it’s possible, to provide what’s needed for the market here,” she said.

But 40 per cent of surveyed European companies said China’s business environment had become more political in the past year alone.

China’s President, Xi Jinping recently called for Chinese officials to create more favourable relationships with Europe and the United States.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.


Why luxury brands are not feeling inflation



New data shows luxury brands are not feeling the pinch of inflation, thanks to the ultra-rich indulging in their products

Luxury brands are not worried about the impact of the global economic meltdown.

While prices of food and gas have skyrocketed, spare a thought for the ultra-rich dealing with the rising cost of sneakers and sports cars.

High end retailers like Dior, Louis Vuitton and Versace are all reporting strong sales and are hiking their profit forecasts.

The upbeat view is at odds with fears for the global economy.

However, this is nothing new, in fact it’s in line with past economic slowdowns according to the experts.

The rich are often the last to feel the impacts of a tightening economy, while spending among lower income consumers is squeezed by inflation.

Continue Reading


Johnson & Johnson will stop selling talcum baby powder



Amid a rising number of lawsuits, Johnson & Johnson will officially cease production of its talcum baby powder.

Company executives say the decision follows a severe decline in sales right around the world.

The move also follows a number of lawsuits which claim the product causes cancer due to its contamination with asbestos.

Mined from the earth, Talc and lies very close to where carcinogenic asbestos comes from.

J&J says demand has fallen due to so-called ‘misinformation’ about the powder’s safety.

“We stand firmly behind the decades of independent scientific analysis by medical experts around the world that confirms talc-based Johnson’s baby powder is safe, does not contain asbestos, and does not cause cancer,” it said in a statement.

But an investigation by Reuters back in 2018 discovered the organisation knew for decades that asbestos was present in its talc products.

The global shift away from talcum powder comes more than two years after the healthcare giant ended sales of the product in both the U.S. and the UK.

The company says the powder will now be created from cornstarch.

“As part of a worldwide portfolio assessment, we have made the commercial decision to transition to an all cornstarch-based baby powder portfolio,” it said in a statement.

Continue Reading


Twitter will crack down on false reporting ahead of U.S. Midterms



Twitter is seeking to put the truth first as this November’s mid-terms fast approach

Twitter says false and misleading posts will be fact-checked in a bid to promote accurate reporting.

Twitter will apply its ‘civic integrity policy’, which was first rolled out in 2018.

The policy stops users from posting misleading content that can dissuade people from voting.

There will also be a crack down on claims that undermine the public’s confidence in the results.

It follows the 2020 Presidential election, where the company was accused of not doing enough to stop the spread of misinformation.

All 435 seats in the U.S. House will be up for grabs alongside around a third of senate seats.

Continue Reading

Trending Now

Copyright © 2022 The Ticker Company PTY LTD