UK consumer confidence unexpectedly took a dip in January after improving at year-end, highlighting persisting woes as high inflation and rising interest rates erode Britons' purchasing power.

UK consumer confidence in January dips over December levels

The Australian watchdog has dragged the local unit of American tech company Dell to local court over allegations that it misled people about the price of the monitors that consumers could add on.

From August 2019&nbsp;to December 16, 2021, Dell Australia duped people on the potential savings a customer got when an additional monitor was purchased with a computer, the Australian&nbsp;Competition and Consumer Commission (ACCC) said.

“The ACCC alleges the monitors were not sold for the ‘strikethrough’ price for most of the relevant time and, in some cases, the add-on price shown was more expensive than if the monitor was bought on a stand-alone basis,” ACCC Commissioner Liza Carver said, according to Reuters news agency.

The ACCC said it is seeking penalties, declarations, consumer redress, costs, and other orders.

In an email statement, Dell clarified that an error in the price process led to incorrect information being displayed on its website about the prices of certain monitors, adding that about 2,100 customers were affected by it.

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The company further said that it has deactivated that functionality on the website and that they are actively working to update the systems to “prevent the error from re-occurring."

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"This occurred during a two-and-a-half-year period and we believe it affected approximately 2,100 customers," Dell said.

"We have fully cooperated with the ACCC throughout their investigation, have been working with impacted customers to provide appropriate refunds plus interest and are taking steps to improve our pricing processes to ensure this sort of error does not happen again.”

(With inputs from agencies)

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The Australian watchdog has dragged the local unit of American tech company Dell to local court over allegations that it misled people about the price of the monitors that consumers could add on.

The Australian watchdog has dragged the local unit of American tech company Dell to local court over allegations that it misled people about the price of the monitors that consumers could add on. From August 2019 to December 16, 2021, Dell Australia duped people on the potential savings a customer got when an additional monitor was purchased with a computer, the Australian Competition and Consumer Commission (ACCC) said. “The ACCC alleges the monitors were not sold for the ‘strikethrough’ price for most of the relevant time and, in some cases, the add-on price shown was more expensive than if the monitor was bought on a stand-alone basis,” ACCC Commissioner Liza Carver said, according to Reuters news agency. The ACCC said it is seeking penalties, declarations, consumer redress, costs, and other orders. In an email statement, Dell clarified that an error in the price process led to incorrect information being displayed on its website about the prices of certain monitors, adding that about 2,100 customers were affected by it. Also read | Cyberattacks rise four-fold in Australia, says government report The company further said that it has deactivated that functionality on the website and that they are actively working to update the systems to “prevent the error from re-occurring." Also read | South Korea detects 180 North Korean warplanes near military border "This occurred during a two-and-a-half-year period and we believe it affected approximately 2,100 customers," Dell said. "We have fully cooperated with the ACCC throughout their investigation, have been working with impacted customers to provide appropriate refunds plus interest and are taking steps to improve our pricing processes to ensure this sort of error does not happen again.” (With inputs from agencies) WATCH WION LIVE HERE:

Australian watchdog drags Dell to court for misleading customers about cost of monitors

Eurozone inflation rose to another record high in July and its peak could still be months away, keeping pressure on the European Central Bank to opt for another big interest rate increase in September.

WION Dispatch: Eurozone inflation at record high; consumer prices jump 8.9% in July

US consumer confidence dropped to nearly a 1.5-year low in July amid persistent worries about higher inflation and rising interest rates, which could undercut spending, pointing to slower economic growth at the start of the third quarter.

US consumer confidence nears 1.5-year low

Consumer Finance has a crucial role to play especially during inflation and economic crises. Home Credit says Consumer Finance recovered strongly. Tech is reshaping the Consumer Finance sector. 'Buy now pay later' products are making significant changes.

Recovery in consumer finance: COVID period was difficult for consumer finance

Consumer finance has a crucial role to play especially during times of economic challenges or high inflation. Consumer finance increases as people borrow now during inflation to bridge the gap for finance but what is the overall scenario?

Recovery in consumer finance: Pandemic was difficult for consumer finance

Japan's services sector activity grew at the fastest pace in half a year in May as consumer sentiment recovered further following the easing of Covid curbs.

Japan's service sector activity grows at fastest pace in 6 months

The Union government intends to develop a framework to check fake reviews on e-commerce websites, after a meeting to gauge the magnitude of fake reviews on e-commerce platforms which mislead consumers into buying online services or products and to prepare a roadmap ahead by the Department of Consumer Affairs (DoCA) on Friday.

“Traceability by ensuring the authenticity of the reviewer and the associated liability of the platform are the two key issues here. Also, e-com players must disclose how they choose the “most relevant reviews” for display in a fair and transparent manner,” said Secretary DoCA, Shri Rohit Kumar Singh said.

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Fake reviews on E-Commerce platforms under the Centre’s radar 
 
Department of Consumer Affairs to hold meeting with E-Commerce entities and stakeholders to discuss the magnitude of fake reviews and prepare a roadmap ahead 
 
Read here: <a href="https://t.co/yqnMgkjtYP">https://t.co/yqnMgkjtYP</a>
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&nbsp;

The meeting involved concerned stakeholders like E-Commerce entities, the Advertising Standards Council of India (ASCI), Consumer Forums, Law Universities, Lawyers, FICCI, CII, and Consumer Rights Activists.

All the stakeholders agreed that fake reviews are a big challenge and concrete steps need to be taken to prevent this and to protect the interest of the customers.

E-commerce company stakeholders claimed that they already have a mechanism in place to check fake reviews, but added that they wouldn’t mind collaborating with the government to develop a framework.

Consumers rely heavily on e-commerce website reviews to see the opinion and experiences of users who have already purchased the good or service while purchasing a product as it is a virtual shopping experience without any opportunity to physically view or examine the product.

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&nbsp;

Singh also shared a Press Release of the European Commission dated January 20th, 2022 highlighting the results of an EU-wide screening of online consumer reviews across 223 major websites.

The screening results underline that at least 55% of the websites violate the unfair commercial Practices Directive of the E.U. which requires truthful information to be presented to consumers to make an informed choice.&nbsp;

Further, in 144 out of the 223 websites checked, the authorities could not confirm that traders were doing enough to ensure that reviews were authentic, i.e., if they were posted by consumers who had actually used the product or service that was reviewed.

&nbsp;

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You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

The Union government intends to develop a framework to check fake reviews on e-commerce websites, after a meeting to gauge the magnitude of fake reviews on e-commerce platforms which mislead consumers into buying online services or products and to prepare a roadmap ahead by the Department of Consumer Affairs (DoCA) on Friday.

The Union government intends to develop a framework to check fake reviews on e-commerce websites, after a meeting to gauge the magnitude of fake reviews on e-commerce platforms which mislead consumers into buying online services or products and to prepare a roadmap ahead by the Department of Consumer Affairs (DoCA) on Friday. “Traceability by ensuring the authenticity of the reviewer and the associated liability of the platform are the two key issues here. Also, e-com players must disclose how they choose the “most relevant reviews” for display in a fair and transparent manner,” said Secretary DoCA, Shri Rohit Kumar Singh said. Fake reviews on E-Commerce platforms under the Centre’s radar Department of Consumer Affairs to hold meeting with E-Commerce entities and stakeholders to discuss the magnitude of fake reviews and prepare a roadmap ahead Read here: https://t.co/yqnMgkjtYP — PIB India (@PIB_India) May 26, 2022 × The meeting involved concerned stakeholders like E-Commerce entities, the Advertising Standards Council of India (ASCI), Consumer Forums, Law Universities, Lawyers, FICCI, CII, and Consumer Rights Activists. All the stakeholders agreed that fake reviews are a big challenge and concrete steps need to be taken to prevent this and to protect the interest of the customers. E-commerce company stakeholders claimed that they already have a mechanism in place to check fake reviews, but added that they wouldn’t mind collaborating with the government to develop a framework. Consumers rely heavily on e-commerce website reviews to see the opinion and experiences of users who have already purchased the good or service while purchasing a product as it is a virtual shopping experience without any opportunity to physically view or examine the product. × Singh also shared a Press Release of the European Commission dated January 20th, 2022 highlighting the results of an EU-wide screening of online consumer reviews across 223 major websites. The screening results underline that at least 55% of the websites violate the unfair commercial Practices Directive of the E.U. which requires truthful information to be presented to consumers to make an informed choice. Further, in 144 out of the 223 websites checked, the authorities could not confirm that traders were doing enough to ensure that reviews were authentic, i.e., if they were posted by consumers who had actually used the product or service that was reviewed. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Centre to develop framework to check fake reviews on e-commerce websites

A measure of Australian consumer sentiment slipped for a fifth straight month in April as rising inflation and the risk of higher interest rates weighed on family finances and spending intentions.

Australia consumer sentiment slips due to rising inflation

Samsung Electronics will merge its mobile and consumer electronics divisions to simplify its structure and focus on growing its logic chip business.

Samsung to merge mobile and consumer electronics divisions

Indian industry body Assocham said that there are signs of improved consumer confidence in several key sectors, including hospitality, of the economy.

World Business Watch: Indian consumer confidence showing signs of pick up in Q2 says Assocham

South Korea's consumer inflation has accelerated to a more than nine-year high in May, reinforcing calls for gradual monetary tightening, though the increase was mainly due to a low base effect and rises in oil and agricultural prices.

World Business Watch: South Korea’s inflation hits 9-year high as commodity prices jump

According to reports US bankruptcies surged in March to the highest level in a year, driven by a 41% jump in month-to-month filings by consumers.

World Business Watch: US bankruptcies increased in March, overall commercial filings also increased

US consumer confidence has raised this month to its highest level since the start of the COVID-19 pandemic, supporting views that economic growth will accelerate in the coming months, driven by more fiscal stimulus and an improving public health situation.

World Business Watch: US consumer confidence hits one-year high

Japanese carmaker Honda unveiled its vision for the future of autonomous driving at the Consumer Electronics Show in Las Vegas, introducing its Augmented Driving Concept.

Concept cars unveiled at CES aim to be 'extension of driver'

CES, the annual technology industry show in Las Vegas, opened its doors on Tuesday (January 7). The annual convention brings thousands of technology enthusiasts to Las Vegas to get a peek at the latest innovations.

Underwater scooter and fish drone among items on show at CES tech show opening

The 2020 Consumer Electronics Show (CES), the world's premier tech show, was officially launched on Tuesday in Las Vegas, the United States.

Consumer Electronics Show 2020 kicks off in Las Vegas

American consumer optimism rebounded unexpectedly this month among American consumers, recovering from a trade-war fright in June, according to a survey released Tuesday.

Consumers again say jobs are plentiful, business conditions are good and incomes are likely to rise in the near future, according to Conference Board's monthly report.

The gains in consumer confidence overshot economists' expectations and should support consumption in the coming months while the economy slows.

The Conference Board's consumer confidence index rose more than 10 points to 135.7 in July.&nbsp;

"After a sharp decline in June, driven by an escalation in trade and tariff tensions, Consumer Confidence rebounded in July to its highest level this year," Lynn Franco, the Conference Board's head of economic indicators, said in a statement.

The report coincided with Commerce Department data showing a fifth consecutive monthly increase in personal income, suggesting retail spending should be healthy in the summer.

The Conference Board data showed views about the present and expectations for the near future rose sharply.&nbsp;

Confidence dimmed in June after trade talks with Beijing collapsed in May, prompting Trump to jack up duties on hundreds of billions in Chinese imports. He also threatened Mexico with steep tariffs in a border policy dispute.&nbsp;

But the US leader agreed with Chinese President Xi Jinping late last month to resume negotiations and cease further hostilities.

The share of survey respondents who say business conditions are good rose to the highest level since February while those saying jobs are plentiful hit its highest point since April.

Most survey respondents expected business conditions, employment and incomes to remain about the same over the next six months -- but the share of those expecting improvements in each rose modestly.

RDQ Economics said Tuesday the confidence data weakened the case for cutting interest rates, as the Federal Reserve is widely expected to do on Wednesday.

The survey "points to strength that is inconsistent with the need for an insurance cut and the case for one-and-done for now has grown," RDQ said in a note to clients.

American consumer optimism rebounded unexpectedly this month among American consumers, recovering from a trade-war fright in June, according to a survey released Tuesday.

American consumer optimism rebounded unexpectedly this month among American consumers, recovering from a trade-war fright in June, according to a survey released Tuesday. Consumers again say jobs are plentiful, business conditions are good and incomes are likely to rise in the near future, according to Conference Board's monthly report. The gains in consumer confidence overshot economists' expectations and should support consumption in the coming months while the economy slows. The Conference Board's consumer confidence index rose more than 10 points to 135.7 in July. "After a sharp decline in June, driven by an escalation in trade and tariff tensions, Consumer Confidence rebounded in July to its highest level this year," Lynn Franco, the Conference Board's head of economic indicators, said in a statement. The report coincided with Commerce Department data showing a fifth consecutive monthly increase in personal income, suggesting retail spending should be healthy in the summer. The Conference Board data showed views about the present and expectations for the near future rose sharply. Confidence dimmed in June after trade talks with Beijing collapsed in May, prompting Trump to jack up duties on hundreds of billions in Chinese imports. He also threatened Mexico with steep tariffs in a border policy dispute. But the US leader agreed with Chinese President Xi Jinping late last month to resume negotiations and cease further hostilities. The share of survey respondents who say business conditions are good rose to the highest level since February while those saying jobs are plentiful hit its highest point since April. Most survey respondents expected business conditions, employment and incomes to remain about the same over the next six months -- but the share of those expecting improvements in each rose modestly. RDQ Economics said Tuesday the confidence data weakened the case for cutting interest rates, as the Federal Reserve is widely expected to do on Wednesday. The survey "points to strength that is inconsistent with the need for an insurance cut and the case for one-and-done for now has grown," RDQ said in a note to clients.

US consumer confidence highest of 2019 as tariff shock abates

China&#39;s economy expanded more than expected in the second quarter of the year, data showed today, fuelling hopes growth may be stabilising, but analysts warned private investment still needed to pick up. 
 
The world&#39;s second biggest economy grew 6.7 per cent year on year in April-June, slightly quicker than forecast in an AFP survey and the same as the previous three months. 
 
The result is also in line with the government&#39;s 6.5-7.0 target for the full year and will provide some much-needed relief as China and key driver of the global economy suffers its worst rates of growth for 25 years. 
 
&quot;The national economy has achieved moderate but steady and sound development,&quot; National Bureau of Statistics spokesman Sheng Laiyun said, adding he was confident that the annual growth target could be achieved. 
 
Markets were unmoved by the figures, with Shanghai&#39;s composite index ending the morning slightly lower. 
 
However, economists analysts said the growth was driven by state investment in infrastructure and a real-estate rebound, suggesting it may be hard to maintain in the longer-term. 
 
&quot;China is on track of achieving this year&#39;s growth target,&quot; said Haibin Zhu, JP Morgan China chief economist. But he added that while industrial production was &quot;very strong&quot;, private investment was weak. 
 
After decades of breakneck growth policymakers are now trying to retool the economy, embracing weaker growth as a trade-off for structural reforms to wean the country off cheap exports and massive government spending in favour of domestic consumption. 
 
But the transition has proved challenging. 
 
Fixed asset investment, a gauge of infrastructure spending, rose nine per cent in the first half of the year, amid a record credit binge in the first quarter aimed at stimulating China&#39;s slowing economy. 
 
Investment concern 
 
And investment by private businesses grew by less than three percent in the first half of the year, the data showed. 
 
Sheng blamed the slowdown in private investment on overcapacity in traditional industries, barriers for private firms to enter some sectors, and limited access to loans. 
 
Tom Rafferty of the Economist Intelligence Unit said &quot;levels of state investment we have seen are not sustainable if the authorities are at all serious about curbing debt risks&quot;. 
 
The &quot;greatest concern&quot; is the slide in investment by private firms, he added, in a sign that businesses are worried about the wider economy and Beijing is &quot;failing to deliver on promised market reforms&rdquo;. 
 
Factory production and consumer spending grew slightly, and industrial output rose over six per cent on year in June, a slight increase on the previous month, although retail sales rose far more than expected. 
 
The data come days after another downbeat reading on trade, which showed the fall in imports and exports accelerated in June. 
 
Klaus Baader, Hong Kong-based chief economist for Asia Pacific of Societe Generale, said: &ldquo;I think it has been engineered by significant reacceleration in credit growth. He added that the growth figure was &quot;a little bit disappointing&quot;, given the scale of lending expansion. 
 
Official Chinese figures are viewed with widespread scepticism, and just days ago the government altered its growth calculation method for the second time in less than a year. 
 
Today&#39;s figures &quot;should be taken with a grain of salt&quot; because of the political pressures on officials to meet the growth target, research firm Capital Economics said in a note. 
 
(AFP)

The world's second biggest economy grew 6.7 per cent year on year in April-June, slightly quicker than AFP forecast

China's economy expanded more than expected in the second quarter of the year, data showed today, fuelling hopes growth may be stabilising, but analysts warned private investment still needed to pick up. The world's second biggest economy grew 6.7 per cent year on year in April-June, slightly quicker than forecast in an AFP survey and the same as the previous three months. The result is also in line with the government's 6.5-7.0 target for the full year and will provide some much-needed relief as China and key driver of the global economy suffers its worst rates of growth for 25 years. "The national economy has achieved moderate but steady and sound development," National Bureau of Statistics spokesman Sheng Laiyun said, adding he was confident that the annual growth target could be achieved. Markets were unmoved by the figures, with Shanghai's composite index ending the morning slightly lower. However, economists analysts said the growth was driven by state investment in infrastructure and a real-estate rebound, suggesting it may be hard to maintain in the longer-term. "China is on track of achieving this year's growth target," said Haibin Zhu, JP Morgan China chief economist. But he added that while industrial production was "very strong", private investment was weak. After decades of breakneck growth policymakers are now trying to retool the economy, embracing weaker growth as a trade-off for structural reforms to wean the country off cheap exports and massive government spending in favour of domestic consumption. But the transition has proved challenging. Fixed asset investment, a gauge of infrastructure spending, rose nine per cent in the first half of the year, amid a record credit binge in the first quarter aimed at stimulating China's slowing economy. Investment concern And investment by private businesses grew by less than three percent in the first half of the year, the data showed. Sheng blamed the slowdown in private investment on overcapacity in traditional industries, barriers for private firms to enter some sectors, and limited access to loans. Tom Rafferty of the Economist Intelligence Unit said "levels of state investment we have seen are not sustainable if the authorities are at all serious about curbing debt risks". The "greatest concern" is the slide in investment by private firms, he added, in a sign that businesses are worried about the wider economy and Beijing is "failing to deliver on promised market reforms”. Factory production and consumer spending grew slightly, and industrial output rose over six per cent on year in June, a slight increase on the previous month, although retail sales rose far more than expected. The data come days after another downbeat reading on trade, which showed the fall in imports and exports accelerated in June. Klaus Baader, Hong Kong-based chief economist for Asia Pacific of Societe Generale, said: “I think it has been engineered by significant reacceleration in credit growth. He added that the growth figure was "a little bit disappointing", given the scale of lending expansion. Official Chinese figures are viewed with widespread scepticism, and just days ago the government altered its growth calculation method for the second time in less than a year. Today's figures "should be taken with a grain of salt" because of the political pressures on officials to meet the growth target, research firm Capital Economics said in a note. (AFP)

China economy beats growth forecasts in Q2

India&#39;s headline inflation probably stayed near a two-year high in June even as industrial production in May likely contracted, increasing the odds that the central bank will keep interest rates on hold next month. 
 
Consumer prices in June are estimated to have risen 5.73 per cent on an annual basis, according to a Reuters poll, a tad lower than May&#39;s 5.76 per cent - the fastest pace since August 2014.&nbsp;That would be a worry for outgoing Reserve Bank of India (RBI) Governor Raghuram Rajan, who wants inflation kept below at 5 per cent by March 2017. 
 
The Aug. 9 policy meeting will be the last for Rajan, whose three-year term ends in early September. Between January 2015 and this April, he cut the repo rate by 150 basis points, to 6.50 per cent.&nbsp;After holding rates in June, the governor said the central bank was looking for room to reduce them further, but it remained concerned about pressure on food and commodity prices. 
 
Demand-driven pressures are likely to be stoked by the hike of salaries and pensions for about 10 million government employees and pensioners. Vegetable prices, meanwhile, have surged due to seasonal supply disruptions. 
 
While a pick-up in summer monsoon rains in recent weeks is expected to cool food inflation, most analysts don&#39;t expect another rate cut before a new governor is on the job. DBS in Singapore expects a rate cut in the October-December quarter. 
 
New Governor, New Mechanism 
 
Prime Minister Narendra Modi is widely expected to name a new governor before July 18. Government sources say the race is mainly between former RBI deputy governors Rakesh Mohan and Subir Gokarn. 
 
The government has to also constitute a Monetary Policy Committee (MPC) to set interest rates by a majority vote, a departure from the current regime where the decision effectively rests with the RBI chief.&nbsp;It aims to name the six-member committee before the August policy review. Three members of the MPC would be RBI insiders, headed by the governor who would have the casting vote in the event of a 3-3 split. 
 
Three external members would be chosen by a panel comprising Modi&#39;s cabinet secretary, the RBI governor, a top finance ministry bureaucrat and three outside experts named by the government.&nbsp;India&#39;s statistics office will release retail inflation data and industrial production data at 1200 GMT today. 
 
Analysts surveyed by Reuters expect output at factories, mines and utilities to shrink 0.4 per cent in May from a year earlier compared with a surprise 0.8 per cent annual contraction a month ago. 
 
(Reuters)

According to a Reuters poll, consumer prices in June rose 5.73 per cent on an annual basis, a tad lower than May's 5.76

India's headline inflation probably stayed near a two-year high in June even as industrial production in May likely contracted, increasing the odds that the central bank will keep interest rates on hold next month. Consumer prices in June are estimated to have risen 5.73 per cent on an annual basis, according to a Reuters poll, a tad lower than May's 5.76 per cent - the fastest pace since August 2014. That would be a worry for outgoing Reserve Bank of India (RBI) Governor Raghuram Rajan, who wants inflation kept below at 5 per cent by March 2017. The Aug. 9 policy meeting will be the last for Rajan, whose three-year term ends in early September. Between January 2015 and this April, he cut the repo rate by 150 basis points, to 6.50 per cent. After holding rates in June, the governor said the central bank was looking for room to reduce them further, but it remained concerned about pressure on food and commodity prices. Demand-driven pressures are likely to be stoked by the hike of salaries and pensions for about 10 million government employees and pensioners. Vegetable prices, meanwhile, have surged due to seasonal supply disruptions. While a pick-up in summer monsoon rains in recent weeks is expected to cool food inflation, most analysts don't expect another rate cut before a new governor is on the job. DBS in Singapore expects a rate cut in the October-December quarter. New Governor, New Mechanism Prime Minister Narendra Modi is widely expected to name a new governor before July 18. Government sources say the race is mainly between former RBI deputy governors Rakesh Mohan and Subir Gokarn. The government has to also constitute a Monetary Policy Committee (MPC) to set interest rates by a majority vote, a departure from the current regime where the decision effectively rests with the RBI chief. It aims to name the six-member committee before the August policy review. Three members of the MPC would be RBI insiders, headed by the governor who would have the casting vote in the event of a 3-3 split. Three external members would be chosen by a panel comprising Modi's cabinet secretary, the RBI governor, a top finance ministry bureaucrat and three outside experts named by the government. India's statistics office will release retail inflation data and industrial production data at 1200 GMT today. Analysts surveyed by Reuters expect output at factories, mines and utilities to shrink 0.4 per cent in May from a year earlier compared with a surprise 0.8 per cent annual contraction a month ago. (Reuters)

India's retail inflation expected to remain high in June

Mergers and acquisitions in the global consumer and retail sectors in 2016 are likely to be characterised by lower valuations for small firms and reasonable values for riskier assets, after a string of mega deals in 2015, a report shows.

Last year ended with $365 billion in transactions, the highest dollar value of deals in these sectors since 2008, said the report by consulting firm AT Kearney.

The report, titled &#39;Has the consumer-retail merger market lost its froth&#39;, was based on interviews with thirty six company executives globally and analysed historical data from over 1,000 transactions.

Among other&nbsp;trends, the report found renewed investment interest in the United States and other weste nrn markets by companies in China and Japan keen to expand outside their home markets.

The need for deals will be spurred by tighter margins and slowing growth but that will be offset by a drop in demand for high yield debt from private equity players. Higher interest rates for such debt will increase the cost of capital and hurt deal appetite, the report said.

Consolidation, however, will continue and is likely in the most mature categories like soda beverages, processed foods such as cereals and frozen foods.

Large Chinese companies with limited growth prospects domestically still have access to vast amounts of capital from state-owned banks and are interested in buying valuable assets, brands, and capabilities rather than building them.

Chinese investment in offshore M&amp;A was already at $106 billion by the end of the first quarter of 2016, just short of the total for all of 2015, the report said.

Buyers also remained bullish on India with sixty eight per cent of respondents expecting deal activity in the market to remain at current levels or increase, driven by lower oil prices and a broad push towards deregulation led by Prime Minister Narendra Modi.

The report, titled 'Has the consumer-retail merger market lost its froth' found renewed investment interest in the United States and other western markets by companies in China and Japan

Mergers and acquisitions in the global consumer and retail sectors in 2016 are likely to be characterised by lower valuations for small firms and reasonable values for riskier assets, after a string of mega deals in 2015, a report shows. Last year ended with $365 billion in transactions, the highest dollar value of deals in these sectors since 2008, said the report by consulting firm AT Kearney. The report, titled 'Has the consumer-retail merger market lost its froth', was based on interviews with thirty six company executives globally and analysed historical data from over 1,000 transactions. Among other trends, the report found renewed investment interest in the United States and other weste nrn markets by companies in China and Japan keen to expand outside their home markets. The need for deals will be spurred by tighter margins and slowing growth but that will be offset by a drop in demand for high yield debt from private equity players. Higher interest rates for such debt will increase the cost of capital and hurt deal appetite, the report said. Consolidation, however, will continue and is likely in the most mature categories like soda beverages, processed foods such as cereals and frozen foods. Large Chinese companies with limited growth prospects domestically still have access to vast amounts of capital from state-owned banks and are interested in buying valuable assets, brands, and capabilities rather than building them. Chinese investment in offshore M&A was already at $106 billion by the end of the first quarter of 2016, just short of the total for all of 2015, the report said. Buyers also remained bullish on India with sixty eight per cent of respondents expecting deal activity in the market to remain at current levels or increase, driven by lower oil prices and a broad push towards deregulation led by Prime Minister Narendra Modi.

Global retail and consumer sector deals less pricey in 2016: report

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