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The most active Japanese rubber futures contract rose 2.00% on the day, currently trading at 356.40 yen per kilogram.On January 14th, Wang Jun, Deputy Director of the General Administration of Customs, stated at a press conference held by the State Council Information Office that my countrys goods trade has been continuously optimized and upgraded. Over the past five years, the import and export of high-tech products has grown at an average annual rate of 7.9%, with the year-on-year growth rate further accelerating to 11.4% in 2025, contributing nearly 60% to the overall foreign trade growth. The export scale of the "new three" products—electric vehicles, photovoltaic products, and lithium batteries—is expected to reach nearly 1.3 trillion yuan in 2025, a 3.5-fold increase compared to 2020. New business formats and models are flourishing. According to preliminary statistics from customs, my countrys cross-border e-commerce imports and exports are expected to reach 2.75 trillion yuan in 2025, a 69.7% increase compared to 2020.On January 14th, Wang Jun, Deputy Director of the General Administration of Customs, stated at a press conference held by the State Council Information Office that by 2025, my country will have trade relations with 249 countries and regions worldwide. Among them, 14 countries and regions will have trade exceeding one trillion, 62 exceeding one hundred billion, and 137 exceeding ten billion yuan, representing increases of 2, 6, and 10 respectively compared to 2024. Across the five continents, my countrys imports and exports with at least 60% of the countries and regions on each continent will see growth. Looking at individual economies, by 2025, my countrys top ten trading partners will account for 47.7% of my countrys total foreign trade, a decrease of two percentage points compared to 2024, indicating a slight decrease in concentration and a more balanced distribution.On January 14th, Wang Jun, Deputy Director of the General Administration of Customs, stated at a press conference held by the State Council Information Office that my countrys intermediate goods trade achieved rapid growth in 2025, becoming a major driver of exports and providing strong support for global industrial cooperation. my countrys export markets have become more diversified, with exports to countries participating in the Belt and Road Initiative increasing by 11.2%, contributing 5.4 percentage points to overall export growth. ASEAN has been Chinas largest export market for three consecutive years. Export growth to emerging markets such as Latin America, the Middle East, Central Asia, and Africa all outpaced the overall growth rate. my country continues to provide the world with high-quality, affordable, stable, and reliable products, becoming a "key link" in the global industrial and supply chains. Overall, my countrys exports are characterized by more robust innovation, a stronger foundation for green development, and a brighter commitment to win-win cooperation. "Good Chinese products" are widely popular globally, playing a vital role in ensuring the stability of global production and supply chains, injecting certainty into global economic and trade development, and bringing new opportunities.On January 14th, Wang Jun, Deputy Director of the General Administration of Customs, stated at a press conference held by the State Council Information Office that exports of high-tech products are projected to increase by 13.2% year-on-year by 2025, contributing 2.4 percentage points to my countrys overall export growth. Specifically, exports of specialized equipment, high-end machine tools, and industrial robots increased by 20.6%, 21.5%, and 48.7%, respectively. Notably, exports of industrial robots exceeded imports last year, making my country a net exporter of industrial robots.

Starbucks chooses the CEO of Lysol producer Reckitt

Skylar Williams

Sep 02, 2022 11:18

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Starbucks Corp selected Laxman Narasimhan as its next chief executive officer on Thursday, selecting an entrepreneur credited with revitalizing the Lysol disinfectant company to "reinvent" the world's largest coffee chain.


Reckitt, a corporation that also produces Durex condoms, Enfamil infant formula, and Mucinex cough treatment, was led by Narasimhan as its chief executive officer. Reckitt shares listed on the FTSE fell 4% after he announced his departure from this job earlier in the day.


Starbucks (NASDAQ:SBUX) is seeing volatility. More than 200 of its U.S. stores have unionized in the past year in response to workers' demands for increased benefits and compensation in the face of growing prices.


Despite growing raw material and labor costs, the company is reconsidering its business approach, changing its emphasis from cafés that encouraged lengthy stays to mobile pickup and delivery. In addition, COVID restrictions in China have slowed the American coffee chain's activities in one of its main export markets.


In April 2023, Narasimhan will assume leadership of Starbucks after spending several months studying the company and its "Reinvention" strategy, which involves increasing barista pay, enhancing staff welfare and customer experience, and redesigning locations.


Until then, interim-CEO Howard Schultz, who seized the company's reins for the third time in April following the departure of Kevin Johnson, will continue to lead the corporation.


Schultz characterized Narasimhan as a "strategic and transformational leader" with a wealth of experience in the construction of major consumer brands in a statement to workers.

BALANCED APPROACH

When he joined Reckitt in September 2019, Narasimhan was the first external candidate to assume the company's leadership since Reckitt's inception in 1999.


He led the company through the pandemic, which boosted sales of its health and hygiene products, and more recently through a baby formula issue in the United States, resulting in a rise in this year's annual estimate.


Investors at Reckitt praised the 55-year-old, a former global chief commercial officer at PepsiCo (NASDAQ:PEP), for his managerial approach after he helped revitalize the company after a sales decline.


Ashish Sinha, portfolio manager at Gabelli, a Reckitt stakeholder, observed, "He took a fairly balanced approach to strategy... he didn't go in guns blazing - he took a very methodical approach to get things right."


Starbucks announced that during the transitional phase, Narasimhan will spend time with Schultz and the management team, working as a barista, meeting employees, and touring manufacturing facilities and coffee farms.


We are surprised that Starbucks choose a successor from outside the discretionary sector, but we are optimistic that Mr. Narasimhan's global insights as CEO of a public multinational organization and background in beverages at PepsiCo would serve the company well in the future.


The coffee chain's stock barely moved in after-hours trade, gaining less than 1%. Since Schultz's interim reinstatement as CEO, the company's stock price has declined by 24%.

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