Global venture capital investments set another record during the first quarter, up 50% year-on-year to reach US$27.4 billion from US$18.1 billion during the same period last year, according to data released by industry research firm Preqin. There has been a slight drop in the number of companies receiving venture capital investment globally, which decreased 6% […]

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Johnson & Johnson Innovation – JJDC, Inc., the venture capital arm of Johnson & Johnson, has made a US$15 million commitment to Vivo Capital, a private equity firm focused on investing in and developing healthcare companies in the U.S. and China, according to a company announcement. The Vivo Capital Fund VIII, which just reached a […]

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Baring Asset Management has appointed Edmund Chong as head of sales, client service and business development – distribution, Asia ex Japan. He is based in Hong Kong and reports to Gerry Ng, chief executive officer, Asia ex Japan, according to a company announcement. Chong joins Barings from HSBC Global Asset Management, where he was the […]

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Three beauticians were today found guilty of contravening the Trade Descriptions Ordinance by engaging in aggressive commercial practices.

Two were jailed for three months and ordered to pay and $70,000 in compensation to the victim, while one was sentenced to 200 hours' community service.

The women, who were an operations manageress, a beauty consultant and a beauty supervisor, exerted undue influence on a customer, making her pay $70,000 as the deposit for a $140,000 body treatment package.

They claimed the customer had lumps which could mutate into cancer and suggested she purchase the body treatment package. They continued the sales practice for over one-and-a-half hours, despite the customer’s reluctance towards making any purchase.

The customer found their constant persuasion annoying but was scared and worried she might have cancer, and finally purchased the body treatment package unwillingly.

BMG, a music business subsidiary of Germany's Bertelsmann Group, has signed an exclusive online music distribution agreement for the Chinese market with Alibaba. Under the agreement, Alibaba will become the exclusive online distributor of BMG music and artists in the Chinese market. Alibaba will sell those products on its own platforms such as Xiami.com. In […]