A new federal law will make it harder for online criminals to sell fake or stolen products in the wake of shoplifting gangs selling products on e-commerce sites. The INFORM Consumers Act, which went into effect on June 27, is intended to limit the sales of stolen and counterfeit products online, said the Federal Trade…
New Law Makes It Harder for Online Criminals to Sell Fake or Stolen Products
June 28, 2023
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Business & MarketsCompaniescongresscounterfeit productsCrime & Public Safetye-commerceeconomic policieseconomyINFORM Consumers ActMarketsMedia & Big TechPolicies & ImpactsPoliticsTechTech NewsUSUS News
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TikTok to Invest Billions of Dollars in Southeast Asia to Boost E-Commerce Business
June 16, 2023
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Asia & PacificBusiness & MarketsChina NewsCompaniesdatae-commerceplatformSocial MediaTechtechnologyTikTokWorld
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JAKARTA—Short video app TikTok, owned by China’s ByteDance, said on Thursday it would invest billions of dollars in Southeast Asia over the next few years, as it doubles down on the region amid intensifying global scrutiny over its data security. Southeast Asia, a region with a collective population of 630 million—half of them under 30—is…
Walmart to Lay Off Hundreds of Workers at 5 US E-Commerce Centers
Hundreds of workers at five U.S. Walmart facilities that process online orders have been given 90 days to find a job at other company locations, a spokesperson confirmed to Reuters. About 200 workers at Pedricktown, New Jersey, and hundreds of others at Fort Worth, Texas; Chino, California; Davenport, Florida; and Bethlehem, Pennsylvania, were let go…
Walmart to Lay Off Hundreds of Workers at Five US E-Commerce Centers
Hundreds of workers at five U.S. Walmart facilities that process online orders have been given 90 days to find a job at other company locations, a spokesperson confirmed to Reuters. About 200 workers at Pedricktown, New Jersey, and hundreds of others at Fort Worth, Texas; Chino, California; Davenport, Florida; and Bethlehem, Pennsylvania, were let go…
FedEx Raises Full-Year Earnings Forecast After Cost Cuts
FedEx Corp on Thursday raised its fiscal 2023 profit forecast despite weak market conditions, citing progress on its plan to shave $3.7 billion in costs from its global delivery business. The Memphis, Tennessee-based company also posted a higher-than-expected quarterly profit despite a drop in volume. Fedex has been wringing costs from its bloated operations by…
TikTok to Enter US E-Commerce With Seattle ‘Fulfillment Center’
TikTok, owned by ByteDance in China, will build a global fulfillment centre in Seattle, and set up an e-commerce supply chain system, said its job listings on LinkedIn, as first revealed by Axios on Oct. 11 . The ads in the past two weeks invited applicants for the “planning and solution design of fulfillment centres,” tasked…
China’s JD.com Founder Wears an ‘Invisible Shackle’: Analyst
September 22, 2022
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Business & MarketsChinaChina Business & EconomyCompaniese-commerceJD.comRichard Liusocial controlSpecial Topics
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Liu Qiangdong, or Richard Liu, founder and chairman of JD.com, recently transferred his ownership of equity shares at two subsidiary companies after stepping down as CEO in April. One Chinese affairs analyst believes Liu made the move in response to the Chinese Communist Party’s (CCP) campaign to target the business elite. The Powerful Economic Players…
PayPal Shares Jump After It Reveals $2 Billion Stake Held by Elliott, Announces New CFO
PayPal Holdings on Tuesday said activist investor Elliott Management has an over $2 billion stake in the fintech company and the firm raised its annual profit guidance. PayPal shares shot up nearly 12 percent after it also announced a slew of moves including appointing Blake Jorgensen as new chief financial officer and a $15 billion…
Top E-commerce Live-streaming Host Luo Yonghao Left the Platform Like Other Influential Celebrities
Luo Yonghao, a famous live streamer selling tech and home products online, withdrew from the online business after more than two years of success in Chinese e-commerce. Experts believe that the Party’s political taboos have made him quit just as other influential hosts have. Luo started his e-commerce live streaming business in 2020, after his…
Top E-Commerce Livestreaming Host in China Left the Platform
Luo Yonghao, a famous livestreamer selling tech and home products online, withdrew from the online business after more than two years of success in Chinese e-commerce. Experts believe that the Party’s political taboos have made him quit just as other influential hosts have. Luo started his e-commerce livestreaming business in 2020, after his smartphone company…
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