UBS announced a net profit of $1.4 billion for the second quarter of 2019.Earningsread more
Japan and South Korea are part of a complex and tightly linked supply chain that produces electronic goods such as smartphones and laptops.Technologyread more
Michael Kugelman from the U.S.-based Wilson Center says other issues take precedence in the bilateral dialogue between the United States and Pakistan — namely, Afghanistan and...Asia Politicsread more
Beijing says it can still meet its 2019 growth target of between 6% and 6.5% and continues to roll out stimulus measures to prop up activity. China set a 2019 industrial...China Economyread more
A different oil pricing dynamic has been evolving with new supply calculations based on the U.S. as the world's largest producer.Market Insiderread more
The Massachusetts senator's alarm-sounding on consumer debt neglects to measure it against the growth in the economy and the ability to pay.Economyread more
Stocks in Asia Pacific edged up on Tuesday, as investors await closely-watched central bank meetings in the coming days.Asia Marketsread more
More than half of Venezuela's 23 states lost power on Monday, according to Reuters witnesses and reports on social media, a blackout the government blamed on an...World Politicsread more
Equifax will give consumers a range of options for monitoring their credit or making claims of fraud or data misuse, part of a $425 million restitution fund.Technologyread more
The deal between the White House and Democrats was earlier expected to raise the debt ceiling for two years and permanently end the sequester.Politicsread more
Britain's Antstream is jumping into the cloud gaming battle with a streaming platform for retro titles. And Tencent just backed the company.Technologyread more
Kroger will begin to sell its products on Chinese e-commerce site Alibaba, the latest in a series of initiatives to bolster its digital business.
The Cincinnati-based grocer has over the past few months moved to transform its business as it readies its defenses against giants Walmart and Amazon. It acquired a stake in British online supermarket Ocado in May, agreed to buy meal kit company Home Chef and launched grocery delivery service Kroger Ship.
Kroger plans to open an online storefront on Alibaba's platform for international brands, Tmall Global. Its focus will include dietary supplements and private label products under the brand Simple Truth.
There has been a growing interest in China for overseas nutrient products, fueled by the country's increased focus on health and wellness and amid limited confidence in its own safety standards.
Kroger's Simple Truth line, launched in 2012, has since grown to reach $2 billion in sales.
An Alibaba spokesperson told CNBC the company is "pleased to work with Kroger to bring their Kroger Simple Truth products to the Chinese market through our Tmall Global platform to meet Chinese consumers' growing demand for high-quality, organic food products."
The Kroger/Alibaba partnership is the latest effort of a U.S. retailer to rethink its global footprint. In May, Walmart agreed to a $16 billion deal to acquire a majority stake in India's Flipkart, beating out Amazon in the process. A month later, it announced the sale of its Brazil unit to private equity firm Advent International.
Shares of Kroger were up more than 2 percent in early afternoon trading.
Kroger did not immediately respond to requests for comment.