Discount coffee, hotels thrive in China's penny-pinching economy
DALIAN, China -- As a wave of cost-consciousness sweeps across China, businesses offering quality at a discount have seen earnings surge while their high-end peers struggle.
Quanjude, the restaurant chain known for its gourmet Peking duck, saw revenue shrink 7% on the year during the first quarter through March.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
4 minutes ago
- Hindustan Times
South Korea on cusp, Uzbeks eye historic World Cup spot
European club trophy winners Son Heung-min and Lee Kang-in will hope to fire South Korea to the World Cup in the coming days with four remaining automatic spots from Asia up for grabs. Japan and Iran have already sealed their berths at the tournament next year in the United States, Canada and Mexico. South Korea are guaranteed to join them on Thursday if they avoid defeat against Iraq in Basra. Even if they lose, they will have another opportunity at home to Kuwait next Tuesday in Group B. South Korea and Spurs captain Son did not have his best club season but the 32-year-old attacker finished it off by lifting the Europa League trophy. Attacking midfielder Lee on Saturday collected a Champions League winner's medal with Paris Saint-Germain after they thrashed Inter Milan 5-0 in Munich, although he remained on the bench for the final. South Korea coach Hong Myung-bo suggested he could use Son sparingly at the end of a long campaign in which the country's talisman has struggled for form and fitness. "Since we have two matches coming up, I will not push him too hard," said Hong, who believes Son will have a role to play even if he does not feature against an Iraq side now coached by former Australia boss Graham Arnold. "We will probably play in a hostile environment in front of partisan fans," Hong said. "We have some players who have had experience playing in these situations." Japan were the first country to qualify for North America after running away with Group C. With the top two from the three Asian groups automatically qualifying, second-placed Australia are in pole position to go through with Japan with two match days left. The Socceroos host Japan in Perth on Thursday knowing that if they win and third-placed Saudi Arabia fail to do the same at Bahrain, they will qualify. Most likely however qualification will go down to the final round of matches on Tuesday when Australia travel to Saudi Arabia for a winner-takes-all blockbuster. "We've put ourselves in a good position within the group to be in control of our destiny," said coach Tony Popovic, who took over the Socceroos in September following Arnold's resignation. Indonesia are still mathematically in the running for an automatic place out of Group C, four points behind Australia and one behind the Saudis. Patrick Kluivert's Indonesia host China in Jakarta on Thursday followed by a trip to Japan. China's World Cup hopes are hanging by a thread at the bottom of the group. Even if teams do not finish in the top two of their pool, their World Cup hopes are not over. Third and fourth go into a further round of Asian qualifying. In Group A, where Iran have already qualified, Uzbekistan are on the cusp of their first World Cup. Avoid defeat to third-placed United Arab Emirates in Abu Dhabi and the Central Asian country will make history. For Asian champions Qatar, the best they can hope for is to come third or fourth and go into the next qualifying round. They host Iran before travelling to Uzbekistan and will be coached for the first time by former West Ham United, Real Madrid and Spain boss Julen Lopetegui. pst/dh
CBS News
4 minutes ago
- CBS News
Detroit community activists step in to help those impacted by Job Corps closure
Hundreds of young people in the Detroit Job Corps received a message on Thursday, May 29, that the program would be closed on June 30. On Friday, they were then told they actually only had until 2 p.m. to pack up and get out, leaving many stunned and concerned for what's next. "They were in tears, they were crushed," said Terrance Willis, chairman at 12th Street Community Development Corporation. "This is heartbreaking, this is inhumane," said Detroit community activist, Pastor Mo. The federal government announced an immediate operational pause of the Job Corps program late last week, shocking hundreds of young adults. "They thought they were on a positive track, and then all of a sudden, they don't know what the next day is going to hold, so yeah, it's devastating," said Willis. Job Corps helps at-risk youth ages 16 to 24 improve their lives through vocational and academic training while also providing free education, housing, meals, and healthcare. Without this program, many would not have a career path or shelter. Pastor Mo spoke about one young man and his struggling homeless mother. "Put her son in Job Corps to get him out of her car, but when it shut down, it put the son back in the car, and his roommate, that didn't have anybody, she's taking him in, and we're trying to find her housing right now," he said. The story is one of many in the Detroit area. But the federal government says it made these cuts after an internal review of the program's outcomes. "A startling number of serious incident reports and our in-depth fiscal analysis reveal the program is no longer achieving the intended outcomes that students deserve," said Secretary of Labor Lori Chavez-DeRemer. Pastor Mo says while he understands the program may need some improvements, he rejects the government's message and sudden closure of the Job Corps. "They're judging the corps by some statistics and some numbers. Sometimes, numbers don't tell the whole story," he said. He says that he, along with multiple others in Detroit, has been paying out of pocket to help some of those affected live in hotels while they find more permanent housing and careers.
Hindustan Times
4 minutes ago
- Hindustan Times
Man arrested for killing 1-year-old daughter
Navi Mumbai: A 40-year-old man was arrested for allegedly killing his one-year-old daughter, who was unwell and crying, out of rage on Monday. According to the police, the accused is a resident of Devmal Thakurwadi village in Pen Taluka, living with his four children including the deceased one-year-old child from his third marriage. The police said that the mother of the child parted ways with the accused for his abusive behaviour. 'He was known for his anger issues and abusive behaviour. Due to this, his third wife parted ways with him about one and a half months ago,' said the investigating officer. The police said that the incident occurred on Monday around 5 PM when the child was persistently crying as she was unwell. This enraged the accused and he allegedly slammed her head on the floor, resulting in her death on the spot, said a police officer. Witnessing this, the accused's other three children ran out to the neighbours crying for help. When the accused tried to escape the spot, the neighbours caught him and handed him over to the police, said a police officer. The accused was arrested under section 103(1) of Bharatiya Nyaya Sanhita and Section 75 of the Juvenile Justice (Care and Protection of Children) Act, 2000.
