The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
platform Beleza na Web@ (Company corrects number of The Beauty Box stores in the last paragraph to 40 from 47)
SAO PAULO, Aug 12 (Reuters) - Brazilian cosmetics firm Grupo Boticário said on Monday it had agreed to buy e-commerce platform Beleza na Web for undisclosed amount, as part of plans to strengthen its online presence while competition intensifies in the beauty business.
The move comes as Brazil's cosmetics market is consolidating. Rival Natura SA agreed in May to merge with Avon Products Inc to create the world's fourth-largest beauty company.
"With Beleza na Web we seek to strengthen our position in the multibrand market and our multichannel approach, integrating one of the main multibrand platforms in Brazil into the group," Grupo Boticário's vice-president of New Channels, Isabella Wanderley, said in a statement.
Founded in 2008, Beleza na Web has over 360 national and international brands and sells 17,000 products on its platform. In 2018, its gross revenue hit around 280 million reais ($70.43 million).
Grupo Boticário, which owns The Beauty Box chain of 40 brick-and-mortar stores across Brazil, had 13.7 billion reais in revenue in 2018, up 11% from the previous year.
($1 = 3.9755 reais) (Reporting by Gabriela Mello; Editing by Richard Chang)