e-commerce

  • CEO Nov 11, 2019

    Alibaba Breaks Singles Day Record With Over $38 Billion in Sales and Climbing

    Chinese e-commerce giant Alibaba set a sales record on Singles Day, the world’s largest 24-hour shopping event. Gross merchandise value (GMV), a figure that shows sales across Alibaba’s various shopping platforms, surpassed last year’s 213.5 billion yuan record (nearly $30.5 billion) on Monday afternoon local time, and kept rising through the rest of the day.

  • Donald Trump Nov 1, 2019

    US Economy Defies Threats With a Solid Job Gain for October

    A solid October jobs report on Friday spotlighted the surprising durability of the U.S. economy in the face of persistent trade conflicts and a global slowdown. The economy managed to add 128,000 jobs last month even though tens of thousands of workers were temporarily counted as unemployed because of the now-settled strike against General Motors. What’s more, the government revised...

  • Jordan Aug 15, 2019

    Rare Nike Track Shoes Used in 1972 Olympic Trials Sell for $50K

    A pair of handmade Nike track shoes from the 1972 Olympic trials has sold for $50,000. Dave Russell, of Sacramento, sold the rare kicks last month to the Graduate Eugene hotel, a Nike-themed property in Eugene, Oregon.

  • Jordan Jul 17, 2019

    Sotheby’s Sells 99 Pairs Out of the 100 Rarest Sneakers of All Time

    So far, all but one of the 100 pairs of sneakers in Sotheby’s “Ultimate Sneaker Collection” auction has been sold.

  • European Union Jul 10, 2019

    EU Fines Hello Kitty Owner $7 Million in Antitrust Ruling

    European Union authorities on Tuesday fined the Japanese company behind Hello Kitty for restricting cross-border online sales of toys, mugs, bags and other products featuring the cartoon cat girl. The EU’s antitrust commissioner, Margrethe Vestager, said that Sanrio Co. was fined 6.2 million euros ($7 million) because the company violated the bloc’s competition rules with licensing agreements that banned traders...

  • European Union Jul 10, 2019

    EU Fines Hello Kitty Owner $7 Million in Antitrust Ruling

    European Union authorities on Tuesday fined the Japanese company behind Hello Kitty for restricting cross-border online sales of toys, mugs, bags and other products featuring the cartoon cat girl. The EU’s antitrust commissioner, Margrethe Vestager, said that Sanrio Co. was fined 6.2 million euros ($7 million) because the company violated the bloc’s competition rules with licensing agreements that banned traders...

  • Facebook Jun 18, 2019

    Facebook Plans Its Own Currency for 2 Billion-Plus Users

    Facebook already rules daily communication for more than 2 billion people around the world. Now it wants its own currency, too. The social network unveiled an ambitious plan Tuesday to create a new digital currency similar to Bitcoin for global use, one that could drive more e-commerce on its services and boost ads on its platforms. But the effort, which...

  • CEO Jun 7, 2019

    Walmart Is Going to Start Delivering Groceries Inside Shoppers’ Home

    Walmart is going to begin delivering groceries inside shoppers’ homes. Right to their kitchen refrigerators. Starting this fall, nearly 1 million people across three cities — Kansas City, Missouri, Pittsburgh and Vero Beach, Florida — will have access to Walmart’s new in-home delivery option, the retailer announced Friday at its annual shareholders meeting in Bentonville, Arkansas. The company said it...

  • Facebook Jun 3, 2019

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    Congress will be taking a close look at the power of big tech, NBC News reported. The House Judiciary Committee announced Monday that it will hold a series of hearings as part of a bipartisan investigation into whether there is enough competition among U.S. technology companies. While no companies were named, any investigation will inevitably touch on Amazon, Facebook, Google...

  • Facebook Jun 3, 2019

    House Judiciary to Investigate Market Dominance of Big Tech Companies

    Congress will be taking a close look at the power of big tech, NBC News reported. The House Judiciary Committee announced Monday that it will hold a series of hearings as part of a bipartisan investigation into whether there is enough competition among U.S. technology companies. While no companies were named, any investigation will inevitably touch on Amazon, Facebook, Google...

  • food May 7, 2019

    Walmart Is Opening Dozens of Veterinary Clinics in Its Stores and Launching an Online Pet Pharmacy

    Walmart is opening up dozens more veterinary clinics in its stores and launching its first online pet pharmacy, hoping to lure more U.S. pet owners who are spending billions of dollars each year on their dogs and cats. The biggest retailer in the world already operates 21 veterinary clinics in its stores across six states, but over the next 12...

  • United States Apr 9, 2019

    75,000 More Stores Need to Close Across the US, UBS Estimates, as Online Sales and Amazon Grow

    Clothing retailers, consumer electronics companies and home furnishing businesses will need to close more stores across the U.S. as e-commerce sales proliferate, according to UBS. In a note to clients this week, the investment firm said “store rationalization needs to accelerate meaningfully as online penetration continues to rise.” Assuming online sales’ share of total retail sales in the U.S. grows...

  • Canada Mar 11, 2019

    Bankrupt Payless to Honor Gift Cards, Store Credit Through March 11

    Monday is the last day customers can use their Payless ShoeSource gift card and merchandise credit. The Topeka, Kansas-based retailer, which filed for Chapter 11 bankruptcy protection on Feb. 18, will begin to shutter its remaining stores in North America at the end of this month after receiving a court approval to support the orderly closing of about 2,500 stores...

  • Canada Mar 7, 2019

    Small Businesses ‘Sitting Ducks’ For ADA Lawsuits Over Websites

    Disabled plaintiffs call themselves activists working to improve society for the disabled, one lawsuit at a time. Critics call it “legal extortion,” now targeting small business owners who feel they are “sitting ducks” for Americans with Disabilities Act lawsuits regarding their websites. Last year, there were 2,285 ADA website lawsuits filed in federal courts across the nation.

  • Canada Feb 20, 2019

    Bankrupt Payless Will Honor Gift Cards, Credit Into March

    Payless ShoeSource has filed for Chapter 11 bankruptcy protection and is shuttering its remaining stores in North America, with gift cards and store credit good until March 11. The filing on Monday came a day after the shoe chain began holding going-out-of-business sales at its North American stores. The company said Wednesday that it received court approval to support the...

  • CEO Nov 16, 2018

    David’s Bridal to File for Bankruptcy

    Wedding dress retailer David’s Bridal said on Thursday it will file for bankruptcy in the “near future,” as it grapples with a heavy debt load amid changing consumer tastes in the wedding industry. The bankruptcy is part of a deal the retailer has reached with its lenders that will reduce its debt by more than $400 million.

  • BOSTON Oct 3, 2018

    Meet the Boston-Based ‘Amazon for Social Good’

    Feeling good about how much Americans donate to charity is easy—until you put the numbers in context.

  • The New York Times Sep 10, 2018

    Alibaba Chairman Jack Ma to Step Down in 1 Year

    Jack Ma, who founded e-commerce giant Alibaba Group and helped launch China’s online retailing boom, announced Monday that he will step down as the company’s chairman next September. In a letter released by Alibaba, Ma said he will be succeeded by CEO Daniel Zhang, an 11-year veteran of the company. Ma handed over the CEO post to Zhang in 2013...

  • The New York Times Sep 8, 2018

    Report: Alibaba Co-Founder Jack Ma to Retire

    The New York Times is reporting that Jack Ma, the co-founder and executive chairman of Chinese e-commerce behemoth Alibaba Group, is retiring. The Times said that in an interview, Ma said he planned to step down as executive chairman on Monday to pursue philanthropy in education. He will remain on Alibaba’s board of directors. Ma started Alibaba in 1999 in...

  • NEW YORK Aug 15, 2018

    Dow Falls More Than 100 Points as Tech Stocks, Macy’s Slide

    U.S. stocks fell on Wednesday as declines in tech shares and Macy’s dampened investor sentiment. Equities also followed overseas stocks lower. The Dow Jones Industrial Average dropped 136 points, while the S&P 500 declined 0.8 percent. The Nasdaq Composite pulled back 1.2 percent. The Dow and Nasdaq briefly broke below their 50-day moving averages. The major indexes trimmed losses late...

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