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The Latest Breaking News from e-commerce

MercadoLibre, IBD Stock Of The Day, Enters A Buy Zone

MercadoLibre stock is the IBD Stock Of The Day as the e-commerce leader in Latin America shows growing strength.

Investors Business Daily

Amazon slated to cut 10,000 corporate jobs amid slow consumer spending

After Meta and Twitter, Amazon is the latest e-commerce giant looking to reduce its payroll. Reports in The New York Times and other outlets say this is part of the company's drive to cut any lossmaking or underperforming units. The job cuts, which could represent as much as 3 percent…

France 24

RSS mouthpiece accuses Amazon of funding religious conversions in India

Two months after it accused Amazon of running fronts whose founders defamed India and the centre, RSS mouthpiece Organiser has now alleged that the e-commerce giant is funding religious conversions in the Northeast, according to the Indian Express.

Newslaundry

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Amazon Reportedly Preparing For Large-Scale Layoffs

Amazon stock fell Monday on reports the e-commerce leader is planning to lay off thousands of workers in a cost-cutting move.

Investors Business Daily

Amazon ‘to lay off up to 10,000 employees’ - up to 1% of global workforce

E-commerce giant reported to be latest US firm to make cuts amid global economic downturn

Evening Standard

Alibaba keeps Singles Day sales tally under wraps for first time

Beijing (AFP) - Chinese e-commerce giant Alibaba has not released full sales figures for its annual Singles Day event for the first time ever, as a cooling economy dampened demand.

AFP

UPS and Overstock Launch Exciting Feature Just in Time for Holidays

Other major e-commerce shippers might want to pay attention.

The Street

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SoftBank Q2 net profit boosted by sales of Alibaba shares

Tokyo (AFP) - Japan's SoftBank Group on Friday posted a net profit in the second quarter, partly thanks to gains from the recent reduction of its stake in Chinese e-commerce giant Alibaba.

AFP

SoftBank posts Q2 net profit after Alibaba share sales

Tokyo (AFP) - Japan's SoftBank Group on Friday posted a net profit in the second quarter, partly thanks to gains from its recent reduction of its stake in Chinese e-commerce giant Alibaba.

AFP

China's muted Singles' Day shopping fest expects slow growth

China's biggest online shopping festival, Singles' Day, is muted this year with sales numbers expected to grow slowly amid an uncertain economy and COVID-19

The Independent UK

Gap Sells Money-Losing China Business to Baozun for $50 million

Chinese e-commerce services provider, a Gap partner since 2018, will get rights to design, make and sell Gap products in China

Caixin Global

Thailand, Laos ink MoU covering post, digital tech

The Ministry of Digital Economy and Society (DES) on Monday entered into a memorandum of understanding (MoU) agreement with the Ministry of Technology and Communications of Laos to collaborate in the postal, digital infrastructure development, ICT and e-commerce fields for eight years.

Bangkok Post

New online marketplace for self-storage secures six-figure backing from North Wales business angels

Anglesey-based Explorage offers e-commerce for global storage providers and users

Birmingham Post

Gloucestershire tech firm raises £5m for hotel e-commerce platform

Cheltenham-based Journey Hospitality describes its software as the ‘Shopify for hotels’

Birmingham Post

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Bangkok Post

Top influencers on China's version of TikTok are twin brothers with over 100m followers

Twin brothers who star in their own video skits about daily life have become the most popular influencers on Douyin, the Chinese version of TikTok, amassing more than 100 million followers in four years.

The Street

Amazon Kicked Out of $1 Trillion Club; Alphabet Near the Exit Door

The e-commerce giant is weakened by the economic slowdown.

The Street

PayPal Stock Slumps On Cautious Holiday Outlook After Q3 Earnings Beat

"We saw U.S. e-commerce growing in the low single digits in Q3 with deceleration into the close of the quarter," said acting CFO Gabs Rabinovitch. "This trend persisted in October."

Bangkok Post

Lazada committed to 'mega' campaigns

E-commerce platform Lazada is committed to investing in its "mega shopping campaigns" to stimulate purchases amid economic headwinds, while pursuing offline entertainment activities to engage with high-spending groups, particularly Gen Z.

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Investors Business Daily

Wayfair Third-Quarter Results Beat Revenue Estimates, Match On Earnings

W stock jumped as the e-commerce retailer reported quarterly results Thursday that beat revenue estimates and matched on earnings.

Tribune News Service

Amazon freezes hiring levels in profitable advertising business

Amazon.com Inc. is freezing staffing levels in its profitable advertising business, according to a person familiar with the matter, showing that the world’s largest e-commerce company is taking more drastic measures to align expenses with slowing sales.

The Japan News/Yomiuri

Zozotown to open physical store in Tokyo

The operator of e-commerce clothing retailer Zozotown is to open a brick-and-mortar store in Tokyo.

Bangkok Post

Internet economy set to generate $35bn in 2022

Thailand's internet economy is expected to rise 17% year-on-year to US$35 billion in gross merchandise value (GMV) in 2022, driven by e-commerce, eventually reaching $53 billion in 2025, according to the "e-Conomy SEA 2022" report by Google, Temasek and Bain & Company.

Benzinga

Former Retail Star Gome Hobbled by Declining Revenue, Heavy Debt

Key Takeaways: Gome’s revenues are falling sharply despite gains for its online business, as tumbling sales at its brick-and-mortar stores lead to layoffs and closures

AFP

Amazon warns of meager holiday season sales growth

San Francisco (AFP) - Amazon on Thursday predicted a slowdown in sales growth during the year-end holiday shopping season, sending shares in the e-commerce colossus tumbling.

Benzinga

New Oriental Emerges from Carnage of Education Cleanup

Key Takeaways: New Oriental Education returned to profitability in its latest reporting quarter, as its revenue declines continued to ease The company’s new business mix after China banned K-12 tutoring in core curriculum areas includes non-academic tutoring and study abroad services By Doug Young

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Chaiwut Thanakamanusorn

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