Here’s what you should know before wrapping up the day.

1. Korea’s AIM raises $1.6M for its mobile trading service

Seoul-based startup AIM has closed $1.6 million in seed funding to bring its artificial intelligence-powered app for financial investments to market in Korea, and potentially other parts of Asia.

What is AIM: The fintech company has developed a system which works alongside existing investment institutions to allow users in Korea to make trades and investments via their smartphone.

AIM is already planning a launch in Singapore.

Read the rest of the story here.

 

2. S.F. Express to build Asia’s largest air freight hub in China

Chinese private logistics giant S.F. Express Co Ltd has pledged to build the busiest air cargo hub in Asia, reaching areas accounting for 80% of the country’s GDP within two hours. The firm said it would construct an airport in Ezhou city, Hubei province in central China, that could handle more than 2.6 million tonnes of freight and 1.5 million passengers by 2025.

 

Read the rest of the story here.

 

3. Recommended Reading: A day of reckoning for America’s department stores 

On January 6, the Neiman Marcus Group, currently owned by asset management firm Ares and the Canada Pension Plan Investment Board, withdrew its initial public offering a year and a half after filing with regulators.

Around the same time Neiman Marcus’ plans were publicly unraveling, Macy’s announced plans to close 68 of its 730 stores, eliminating more than 10,000 jobs along the way, many of them management positions.

What went wrong?  The convenience of ecommerce and a lack of progress in business models and lack of innovative customer experience.

Meanwhile, pureplay online players are venturing into offline popup shops and re-thinking the future of retail.  Fast fashion powerhouse Pomelo’s David Jou shares his view on a 360 retail experience here.

Read the rest of the story here.

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