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The Latest Breaking News from e-commerce

JX Luxventure Adopts $5M Stock Buyback Program; Inks $30M Sales Agreement

JX Luxventure Ltd (NASDAQ:LLL) Board of Directors has authorized a share repurchase program of up to $5 million shares. The funds for the repurchases under the program will be personally provided by the CEO, Sun Lei. The Board thinks the share buyback program will restore shareholder confidence in the company as the current…

Benzinga

Should You Buy Beaten-Down SHOP After the Split?

While Shopify (SHOP) gained massive investor attention amid the pandemic-led e-commerce boom, its shares have slumped significantly year-to-date in 2022. However, given the company’s recent stock split announcement, will its shares rebound in the near term? Let’s discuss.

StockNews.com

Cluster Of Insiders Purchase Carvana, An E-commerce Platform For Buying And Selling Used Cars - Big Insider Trades

A nearly 6% drop in the S&P 500 index last week spurred insider buying with insiders purchasing more than 4 times as much stock as they did the prior week, reversing three weeks of declining purchases.

Benzinga

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3 Stocks That Just Went From Bad To Worse

Surging inflation and the Fed’s continued interest rate hikes have kept equities under pressure lately, driving the S&P 500 index into bearish territory. Given this backdrop, fundamentally weak stocks Boxed (BOXD), KalVista Pharmaceuticals (KALV), and NeoGenomics (NEO) are best avoided now. These stocks were downgraded from ‘Sell’ to ‘Strong Sell’…

StockNews.com

Why Chewy Shares Are Surging Today

Wedbush analyst Seth Basham upgraded Chewy Inc (NYSE:CHWY) from Neutral to Outperform and raised the price target to $35 (8% upside) from $30. The analyst cites favorable pet category dynamics, bottoming e-commerce trends, attractive valuation, and better risk-reward as the reasons for the upgrade. While Seth expects discretionary goods spending pressure to continue in the near-to-medium…

Benzinga

Love Island and eBay: how the reality show could model a radically sustainable future for its young viewers

A recently announced partnership between ITV reality show Love Island and secondhand e-commerce giant eBay sends a strong positive signal about prioritising sustainability over fast fashion.

The Conversation

AMZN After the Split: Buy, Sell, Or Hold?

E-commerce giant Amazon.com (AMZN) completed its much talked about 20-for-1 stock split on June 06, 2022, which led its shares to trade below $1000 for the first time since 2017. However, given its premium valuation and rising operational challenges, is it worth owning the stock now? Let’s find out.

StockNews.com

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Saudi Project to Develop Quality of E-Commerce Data

Considering the growth of e-commerce and the desire to improve the mechanism of data collection related to the sector, Saudi authorities informed all banks in the Kingdom of the need to abide by the operational framework and technical and operational rules for the data quality development project. The Saudi Central…

Asharq Al-Awsat

Chinese splash out on tech goods, camping gear in shopping fest

BEIJING: High-end home appliances and camping gear were among Chinese shoppers' most sought-after buys during the "618" shopping festival, according to e-commerce platforms, in a sign of how China's Covid-19 curbs are driving lifestyle changes.

Bangkok Post

Tech disrupted by reality

When Covid-19 emerged more than two years ago, millions of people including myself suddenly found ourselves stuck at home. To survive the unprecedented challenges and stress, I started to befriend mobile apps I hadn't used before to buy things and pay bills online, among them the e-commerce platform Shopee.

Bangkok Post

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

'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

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The Times of India

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)?

Asharq Al-Awsat

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…

Bangkok Post

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.

Asharq Al-Awsat

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…

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StockNews.com

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.

Benzinga

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…

Bangkok Post

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.

Benzinga

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,

The Times of India

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 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

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