-
Wal-Mart’s biggest supplier considering acquisitions in China
Hong Kong -- Li & Fung Ltd., the biggest supplier to Wal-Mart Stores said Friday that it may increase acquisitions in China as the country’s consumer spending grows, U.S. demand rebounds and inflation propels companies to seek partners.
Li & Fung president Bruce Rockowitz told Bloomberg that it may buy Chinese companies in the fashion, cosmetics and furniture industries in the next three years. He also said it will increase purchases in the United States, Europe and Japan.
-
Survey: Holiday credit-card use drops to new low
New York City -- A survey released Friday by America’s Research Group found that after the Thanksgiving shopping weekend, just 17% of shoppers were paying with credit, representing about half of last year’s level and the lowest rate in the 27 years that the firm has conducted the survey.
“The consumer really feels a lot of pressure from previous debts, and they just aren’t going to dig themselves into that kind of hole,” said Britt Beemer, CEO, of America’s Research Group.