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SoftBank reports $37 bln Vision Fund profit on Coupang

By Reuters Staff
1 Min Read
TOKYO, May 12 (Reuters) - SoftBank Group Corp on Wednesday reported a 4.027 trillion yen ($36.99 billion) fourth-quarter profit at its Vision Fund unit after booking a gain on investment Coupang, underscoring its recovery a year after a record loss. ($1 = 108.8600 yen) (Reporting by Sam Nussey; Editing by Kim Coghill) ....

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REFILE-Amazon says EU court agrees it had no special Luxembourg tax treatment

By Reuters Staff
(Fixes day of week in first paragraph)
BRUSSELS, May 12 (Reuters) - Amazon on Wednesday welcomed an EU court ruling annulling an EU order to Amazon to pay about 250 million euros ($303.28 million) in back taxes to Luxembourg.
“We welcome the Court’s decision, which is in line with our long-standing position that we followed all applicable laws and that Amazon received no special treatment,” the online retailer said in a statement.
“We’re pleased that the Court has made this clear, and we can continue to focus on delivering for our customers across Europe.” (Reporting by Foo Yun Chee, editing by Louise Heavens) ....

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Hong Kong shares close higher on bargain hunting in tech shares

Real estate shares fall on tax talks
BEIJING, May 12 (Reuters) - Hong Kong shares ended higher on Wednesday, with tech shares leading gains on bargain hunting following a sell-off in the previous session, while a settlement between Chinese smartphone maker Xiaomi Corp and the U.S. government also lifted sentiment.
At the close of trade, the Hang Seng index was up 217.23 points, or 0.78% at 28,231.04. The Hang Seng China Enterprises index rose 1.2% to 10,556.57. The sub-index of the Hang Seng tracking the IT sector rose 3.5% and the energy sector rose 0.7%.
The financial sector ended 0.49% lower, while the property sector dipped 0.75%. The top gainer on the Hang Seng was Xiaomi Corp, which gained 6.1%, after the company and the U.S. Defense Department agreed to resolve their litigation. The top gainers among H-shares were Xiaomi Corp up 6.1%, followed by Alibaba Group Holding Ltd, up 6.07%, and JD.Com Inc, which rose 5.22%. The biggest H-shares perce ....

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Online share of retail sales jumps to 19% amid lockdowns: U.N.

By Reuters Staff
2 Min Read
FILE PHOTO: A woman uses a computer keyboard in this photo illustration taken in Sydney June 23, 2011. REUTERS/Tim Wimborne/File Photo
ZURICH (Reuters) - Online sales accounted for nearly a fifth of total retail turnover last year as lockdowns to combat the spread of the coronavirus pandemic fuelled a boom in e-commerce, a United Nations study released on Monday showed.
Online sales accounted for 19% of overall retail sales in 2020, up from 16% a year earlier, according to estimates from the UN Conference on Trade and Development (UNCTAD) based on national statistical offices in major economies.
South Korea reported the highest share at 25.9%, up from 20.8% the year before. China had a 24.9% share, Britain 23.3% and the United States 14.0%. ....

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U.S. Labor Board says evidence presented by union in Amazon vote 'could be grounds for overturning election'

U.S. Labor Board says evidence presented by union in Amazon vote could be grounds for overturning election
By Reuters Staff
1 Min Read
WASHINGTON, April 28 (Reuters) - The National Labor Relations Board on Wednesday said evidence submitted by the Retail Wholesale and Department Store union “could be grounds for overturning” Amazon.com Inc’s union election in Alabama if introduced at a hearing.
Reporting by Nandita Bose in Washington Editing by Chris Reese ....

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