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The Latest Breaking News from e-commerce

China's Lipstick King Austin Li was a rich influencer adored by Beijing officials. One mistake triggered his downfall

Austin Li was beloved by young shoppers and the Chinese Communist Party. But when he tried to sell an ice cream cake to millions of his followers, everything went wrong.

ABC News

Alibaba Could Suffer Fallout As Top Rival Plans Foray In Food Delivery Service

Beijing-headquartered e-commerce giant JD.com Inc (NASDAQ: JD) is mulling a possible foray into the food delivery business, posing an intense competition for its Chinese peers Meituan (OTC: MPNGF) and Alibaba Group

Benzinga

Online marketplace OnBuy appoints new chief technology officer

The Dorset e-commerce company said experienced executive Julian Browne would drive its new tech plans

Birmingham Post

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'Influencers' arrested for lese majeste over Lazada promotion

Police on Thursday arrested two transgender social media influencers and a woman for alleged lese majeste, stemming from a video promotion for the Lazada e-commerce network last month.

Bangkok Post

Amazon’s new India chief pulled plug on cricket, not the country

NEW DELHI: Manish Tiwary had only been in his new job as head of Amazon’s India business a couple of months when he faced a weighty decision: How aggressively should the US e-commerce giant bid for media rights to the Indian Premier League (IPL)?

The Times of India

Global Tech on Edge as WTO Weighs E-commerce Tariffs

The global technology industry is pressing the World Trade Organization to exempt data flows from cross-border tariffs, saying a failure to do so would undermine a global recovery already threatened by spiraling prices. The WTO's 164 members will present their views on the topic on Wednesday, the final scheduled day…

Asharq Al-Awsat

Shopee opts to reduce its headcount

E-marketplace Shopee is pursuing layoffs across markets in Asean, including Thailand, according to industry sources, as the company is believed to have become more cautious about spending and more focused on attaining profitability rather than burning cash.

Bangkok Post

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Russia’s Wildberries Selling Zara Clothes Online despite Inditex Halting Operations

Russian e-commerce leader Wildberries is still selling clothes from Inditex brands that have suspended operations in the country, including the Spanish group's main Zara label. The TASS news agency reported on Tuesday that Zara items were being sold on Wildberries, which the Russian company confirmed. Inditex is one of many…

Asharq Al-Awsat

Is Alibaba a Buy After Its Recent Gains?

Shares of e-commerce giant Alibaba Group Holding (BABA) gained momentum earlier this month after the government gave the green light to revive its subsidiary Ant Group’s dual listing. However, given its declining profit margins, is BABA an ideal investment now? Read more to find out.

StockNews.com

This Alibaba Competitor Undertakes Aggressive Job Cuts Across Multiple Southeast Asian Markets

Sea Limited's (NYSE:SE) e-commerce arm Shopee laid off staff across multiple markets, DealStreetAsia reports. The layoffs to rationalize its e-commerce business encompassed several Southeast Asian markets, including Indonesia, Thailand, and Vietnam. Shopee's payments arm ShopeePay and food delivery business ShopeeFood also faced cuts. The competitor of the Alibaba Group Holding Limited (NYSE:BABA) hosted a general…

Benzinga

Shopee owner Sea Ltd cuts jobs in shopping, food

Sea Ltd is making its first major job cuts in areas spanning shopping and food, joining other tech firms downsizing this year in anticipation of unprecedented market and economic volatility.

Bangkok Post

Tencent Buys $264M Stake In Walmart's Indian Unit

Chinese tech conglomerate Tencent Holdings Ltd. (OTC: TCEHY) has bought a $264 million stake in Walmart Inc (NYSE: WMT)-owned Indian e-commerce firm Flipkart, Press Trust of India

Benzinga

James Star Significantly Increases His Stake In Pet Products Focused Company Chewy (CHWY)

Last Christmas we highlighted an insider purchase by an independent director of Chewy and wrote the following about the company,

Benzinga

Govt asks Swiggy, Zomato and others to submit plans in 15 days for improving complaint redressal

NEW DELHI: The government on Monday asked online food business operators like Swiggy and Zomato to submit a proposal within 15 days on improving their consumer grievance redressal mechanism amid rising complaints from customers.

The Times of India

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The Hindu

Government asks Swiggy, Zomato and others to submit plans in 15 days for improving complaint redressal

The Department of Consumer Affairs will soon hold a meeting with edtech firms like Byju's and Unacademy amid complaints that these platforms put extra study pressure on schools

Benzinga

'You're Going To Get Ripped Off': Why These Investors Say You Should Avoid Alibaba Stock

Alibaba Group Holding Ltd (NYSE: BABA) shares have sustained a significant rally over the last month, but some see trouble ahead for the Chinese e-commerce giant amid a murky regulatory landscape both overseas and in the U.S.

Benzinga

Lantern Expands Cannabis Delivery Service In Massachusetts Via Partnership With Doobie

Lantern, the leading on-demand cannabis e-commerce marketplace and home delivery platform in the U.S., entered into a partnership with Doobie in Massachusetts.

StockNews.com

After its Stock Split, is Now a Good Time to Buy Amazon.com?

E-commerce giant Amazon.com (AMZN) administered a 20-for-1 stock split on June 6. So, shares of AMZN are currently trading below $1,000 for the first time since 2017. However, given the company's bleak growth prospects and significant operational headwinds, is AMZN a good buy now? Read more to learn our view.

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Benzinga

Why Bilibili Shares Are Plunging Today

Bilibili Inc (NASDAQ:BILI) reported first-quarter FY22 revenue growth of 30% year-on-year to $797.3 million, beating the consensus of $757.6 million. Drivers: Average monthly active users (MAUs) increased 31% Y/Y to 293.6 million, and Mobile MAUs rose 33% Y/Y to 276.4 million. Average daily active users (DAUs) climbed 32% Y/Y to 79.4 million, and Average…

Benzinga

Alibaba Hands Out Bulk Of 2021's Antitrust Penalty; China Signals Ease In Crackdown As It Continues To Monitor Tech Sector

E-commerce giant Alibaba Group Holding Ltd (NYSE: BABA) and on-demand service platform operator Meituan (OTC: MPNGY) jointly handed out 92% of China's antitrust fines,

Benzinga

If You Invested $1000 in Amazon When Jeff Bezos Quit As CEO, Here's How Much You Would Have Now

Amazon.com, Inc (NASDAQ: AMZN) founder Jeff Bezos was the CEO of the e-commerce giant for 27 years. The company was launched from Bezos’ garage in Bellevue, Washington on July 5, 1994, as an online book store.

Benzinga

Tommy Bahama & Lilly Pulitzer Owner Posts Solid Q1 Earnings; Lifts FY22 Outlook

Oxford Industries Inc (NYSE:OXM) reported first-quarter FY22 sales growth of 33% year-on-year to $352.6 million, beating the consensus of $329.02 million. Net sales from Tommy Bahama increased 46% Y/Y, Lilly Pulitzer rose 25%, and Emerging Brands gained 42%. Full price e-commerce sales grew 20% compared to Q1 FY21. Restaurant sales climbed 23%, and…

Bangkok Post

Lazada, Shopee, JD Central rack up losses to gain users

Marred by intense competition and several promotional campaigns, the three major e-commerce operators in Thailand have racked up a combined 39 billion baht in operational losses over the past seven years, according to Creden Data, a data analytics service provider.

The Guardian - UK

TikTok investigating claims of UK-based executive saying he ‘didn’t believe’ in maternity leave

UK-based e-commerce boss Joshua Ma to step back from role, according to reports

The Independent UK

China's online "tank" cake snafu raises Tiananmen questions

An online snafu involving China’s most popular e-commerce livestreamer and a cake decorated to look like a tank has raised questions among some Chinese over the violent crackdown on pro-democracy protests in Beijing's Tiananmen Square on June 4, 1989

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