Some business stories from the past week, curated by Jason Maywald –
- SMH on the expansion of Alibaba: Alibaba already has supermarkets. Now it wants our food
The business world may be enthralled with Amazon’s moves to become a major supermarket player, but Chinese e-commerce giant Alibaba says it is already strides ahead and is opening up new ways for Australia food producers to access its more than half-a-billion customers.Alibaba has been an important avenue for Australia baby formula and vitamin producers to access the Chinese market, through its Alibaba.com wholesale website and its direct-to-consumer site Tmall, but Maggie Zhou, Alibaba’s Australia and New Zealand managing director, said fresh produce now presented the greatest opportunity for growth.READ MORE
- The AFR on Ten entering the Australian TV market: US studio giant CBS to buy Network Ten
US studio CBS will acquire Network Ten, beating out favourites Lachlan Murdoch and Bruce Gordon.The US studio picked up an information memorandum on Ten, as as one of Ten’s largest creditors after making a $795.5 million claim after the company collapse.READ MORE
- From News.com.au: Adani announces when it will break ground: Adani will begin construction of its Carmichael coal mine in October
INDIAN mining giant Adani has announced it will break ground on its Carmichael coal mine in Queensland in October. Company chairman Gautam Adani issued a statement overnight, confirming the start of works for the $16.5 billion project in Queensland’s Galilee basin, with the first coal to be produced by the facility in March 2020.READ MORE
- The Australian on ebay: eBay’s trading upeBay used to be everyone’s favourite secondhand site. But savvy partnerships and technology have turned it into a shopping phenomenon. The chief executive of eBay in Australia, Jooman Park, seems remarkably unfazed by the imminent arrival of the e-commerce behemoth Amazon on these shores. eBay has been operating in Australia for 18 years, four of them with Park in charge, and the e-commerce firm’s success has been remarkable.
- The Australian on Uber: New Uber chief sets IPO timeline
Uber Technologies’ new chief executive, Dara Khosrowshahi, said he is aiming for an initial public offering as soon as 2019, setting the stage for what would be one of the most highly anticipated market debuts in memory.At his first appearance in front of employees for the ride-hailing firm, Mr Khosrowshahi set a timeline for an IPO of between 18 and 36 months, though he indicated that wasn’t a firm deadline, according to a person who attended the meeting.READ MORE
Jason Maywald is a highly experienced legal and transactional advisor in the insurance and medical assistance sectors.