China 

Birkin bags, Kweichow Moutai – how Costco drew huge crowds to its Shanghai opening

US supermarket giant Costco was overwhelmed by the crowds that had descended on its newly opened store in Shanghai on Tuesday, forcing it to suspend operations because of safety concerns.Thanks to a savvy social media push reminding consumers about the imminent store opening and massive discounts, there was a frenzy for items ranging from designer handbags to liquor and shoes, in stark contrast to declining sales at rivals Carrefour and Walmart stores that are fast losing out to the onslaught… Source link

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Yuen Long clashes cast pall over Sun Hung Kai’s weekend home sales even as Great Eagle’s project drew buyers with cheaper prices

A weekend apartment sale by Sun Hung Kai Properties flopped in Kam Tin near the scene of violent clashes between the police and protesters, as nearly two months of incessant public unrest left their impact on Hong Kong’s real estate.Sun Hung Kai sold only seven of 145 units of its Park Yoho Napoli project in Kam Tin, a mere 3 kilometres from Yuen Long, where tens of thousands of protesters marched today in protest against a July 21 mob attack on commuters. Police fired tear gas to disperse… Source link

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Macau junket operator Suncity vows to stop extending online betting to mainland China after expose by state media drew heat

Suncity Group Holdings, Macau’s biggest operator of junkets for high roller gamblers, vowed to rein in its online gaming and proxy betting operations in mainland China, days after an expose in Chinese state media accused the company of disrupting China’s financial order.The junket operator of Macau, the only Chinese territory where gambling is legal, had facilitated Chinese gamblers to bet through online casinos in The Philippines and Cambodia, using underground banks to move capital out of the… Source link

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Tencent-backed hackers who drew praise from Elon Musk once revealed flaws in Apple’s iOS

A team of Chinese security researchers managed to trick a Tesla Model S to veer into an opposing lane.Luckily for Elon Musk, the researchers belonged to Tesla shareholder Tencent Holdings’ security team, who were probing the Palo Alto-based electric car maker for security vulnerabilities.Their findings were made public in a report posted online last week by Tencent Keen Security Lab, which also duped Autopilot to turn on the car’s wipers and allow a wireless gamepad to take control of the… Source link

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