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Cyber Monday sales expected to slow as US shoppers see fewer deals

Cyber Monday sales expected to slow as US shoppers see fewer deals

U.S. retailers are estimated to generate online sales of up to $11.3 bn on Cyber Monday, a decline from a year earlier as fewer discounts and limited choices due to global supply chain disruptions deter shoppers.
Fashion
Walmart's longtime CFO to depart

Walmart's longtime CFO to depart

The American retail giant announced on Monday that executive vice president and chief financial officer Brett Biggs will be leaving after 22 years with the company.
Fashion
Asian shares down as Alibaba's slide reignites China worries

Asian shares down as Alibaba's slide reignites China worries

Asian shares fell on Friday as disappointing earnings from Chinese e-commerce giant Alibaba heightened worries about Beijing's broad regulatory crackdown and slowing growth in the world's second-biggest economy.
China's Alibaba kicks off final hours of Singles' Day shopping event

China's Alibaba kicks off final hours of Singles' Day shopping event

Celebrity virtual appearances and flashy deals kicked off Alibaba Group Holding Ltd's final 24 hours of its Singles' Day shopping event on Thursday, hoping to draw shoppers as it preaches sustainability this year.
Retailers lose love for Asia: Snarled supply chains force manufacturing exodus to Balkans, LatAm

Retailers lose love for Asia: Snarled supply chains force manufacturing exodus to Balkans, LatAm

Major clothing and shoe companies are moving production to countries closer to their U.S. and European stores, smarting from a resurgence in cases of coronavirus in Asia that slowed production earlier this year.
Pinterest forecasts strong sales as ad spending booms

Pinterest forecasts strong sales as ad spending booms

Pinterest Inc forecast fourth-quarter revenue growth in the high-teens percentage range, after online retailers splurging on ads before the holiday season helped the image-sharing company beat quarterly estimates.
Retailers dream of a glitzy Christmas, even as supply chain snarls loom

Retailers dream of a glitzy Christmas, even as supply chain snarls loom

Many consumers are entering the holiday season with more disposable income, but retailers are up against a supply chain crisis that has left them scrambling to stock enough partywear, among other things.
Alphabet beats sales estimates, posts record profit again on Google ad surge

Alphabet beats sales estimates, posts record profit again on Google ad surge

Google owner Alphabet Inc on Tuesday beat expectations for third-quarter revenue, a positive sign that its advertising business is overcoming new limits on tracking mobile users.
Facebook invests billions in metaverse efforts as ad business slows

Facebook invests billions in metaverse efforts as ad business slows

Facebook Inc said on Monday it will start breaking out the financials for its virtual and augmented reality unit, an announcement that comes as its main advertising businesses face "significant uncertainty."
Britain to raise minimum wage to 9.50 pounds a hour

Britain to raise minimum wage to 9.50 pounds a hour

Britain will announce a rise in its minimum wage for those aged 23 and over to 9.50 pounds ($13.06) per hour from 8.91 pounds in the government's budget statement on Wednesday, the finance ministry said on Monday.
US seals agreement to end European digital taxes

US seals agreement to end European digital taxes

The United States has resolved a key point of trade friction with Europe after inking a deal to end controversial digital services taxes on American tech giants.
Arbitration panel rejects Future's plea on Reliance deal in dispute with Amazon

Arbitration panel rejects Future's plea on Reliance deal in dispute with Amazon

A Singapore arbitration panel has rejected Future Retail's plea to quash an order from last year that put its $3.4 billion deal with Reliance on hold, in a boost for its partner Amazon.
Fashion
Pandemic fallout could slow U.S. online holiday spending growth

Pandemic fallout could slow U.S. online holiday spending growth

U.S. online holiday spending is expected to grow at its slowest pace in at least eight years, as product shortages, higher prices and pandemic-related uncertainties threaten to put a strain on the shopping season. 
Alibaba's Ma in Europe on study tour - SCMP

Alibaba's Ma in Europe on study tour - SCMP

Alibaba Group Holding Ltd founder Jack Ma is in Europe on a study tour, South China Morning Post reported on Tuesday, making it the Chinese billionaire's first trip abroad in over a year.
Lifestyle
Amazon expands 'Try Before You Buy' service to France, Italy and Spain

Amazon expands 'Try Before You Buy' service to France, Italy and Spain

American online sales giant Amazon launched its 'Try Before You Buy' service in its French, Italian and Spanish markets on October 14.
Fashion
Shopify enlists Microsoft, Oracle for business tools on app

Shopify enlists Microsoft, Oracle for business tools on app

Canadian e-commerce platform Shopify Inc is teaming up with top cloud companies including Microsoft Corp and Oracle Corp to help merchants streamline their business operations.