US economy likely showed big rebound last quarter The man responsible for Hilton's grand turnaround Europe shares drift ahead of data; Asia gains Indian online retailer Flipkart raises $1 billion Toyota remains at top in sales after first half WellPoint 2 Q tops Wall Street expectations Twitter 2 Q results soar, stock flies high Thai junta sets plan for fast rail links to China Russia's central bank supports sanctions targets Nintendo reports loss on shaky Wii U sales» Read More
MUMBAI, India— The world's largest online retailer is facing off in India against a new name in e-commerce that was founded by former Amazon employees. Amazon.com Inc. said Wednesday it will invest $2 billion to expand its Indian business, a day after local rival Flipkart raised $1 billion to fund its own expansion.
Walmart's e-commerce operations' tech arm acquired the social shopping site Luvocracy and plans to shut it down. Re/Code reports.
Recently eBay launched its own 3- D printing store via an iPhone app called eBay Exact. "The introduction of our 3- D printed products store suggests the beginnings of a shift in online retail— that manufacturing can be more nimble to provide an immersive customer experience," said Petra Schindler-Carter, director for Amazon Marketplace sales.
Amazon.com will offer 3-D printing that allows customers to customize and build items from third-party sellers on its website.
*Jumia adding retail sites for Uganda, Ghana and Cameroon. BERLIN, July 28- Online retailer Jumia, a would-be African Amazon set up by German venture capital firm Rocket Internet, is expanding into three new markets- Uganda, Ghana and Cameroon, the company said on Monday.
NEW YORK— The stock market is ending lower after Visa and Amazon posted disappointing results. Amazon's stock slumped $34.60, or 9.6 percent, to $324.01 after the online retail giant posted a wider loss than analysts had forecast. The Dow was dragged down by Visa, which fell $7.97, or 3.6 percent, to $214.77.
Amazon's stock is getting slammed on its worse-than-expected earnings. CNBC's Josh Lipton discusses Amazon's profit problem.
NEW YORK— The stock market is falling in midday trading after Visa and Amazon posted weaker results than Wall Street expected. Amazon's stock slumped $38.11, or 11 percent, to $320.50 after the online retail giant posted a wider loss than analysts had forecast. The Dow was dragged down by Visa, which fell $9.53, or 4.3 percent, to $213.21.
Eric Sheridan, UBS analyst, discusses Amazon's much wider- than-expected second quarter loss and how investors are to gauge their value and growth.
While investors will be focused on Amazon's giant e-commerce business when it reports earnings Thursday, its future is tied to Prime.
The political connections of investors raise questions about Alibaba as it prepares to go public in the U.S. The New York Times reports.
Facebook is testing a new 'buy' button that will let consumers purchase products that are advertised on its social network.
NEW YORK, July 17- Alibaba Group Holding Inc has pushed its highly anticipated IPO until after the September Labor Day holiday, a source with knowledge of the matter said, as the Chinese online retail company works through the complex process of launching what could the largest-ever U.S. tech debut.
To commemorate the 45th anniversary of the moon landing, 100 pairs of sneakers inspired by moon boots will be available.
SAN FRANCISCO, July 16- EBay Inc posted a 13 percent rise in quarterly revenue on Wednesday, as better-than-expected results from its fast-growing PayPal division helped the online retailer overcome increasing competition from Amazon.com Inc and a well-publicized cyber attack.
A first edition of Karl Marx's "Das Kapital" was sold in a digital sale on Amazon-owned AbeBooks earlier this month.
SAN FRANCISCO, July 15- Yahoo Inc pledged to pay its shareholders at least half the proceeds from Alibaba Group Holding Ltd's mega-IPO this fall, and plans to keep a larger stake in the Chinese e-commerce company than expected. Yahoo's roughly 24 percent stake in the world's largest Internet retailer is viewed on Wall Street as its most prized asset.
NEW YORK, July 14- Two of the biggest names in auction sales, the traditional Sotheby's and the digital pioneer eBay, said on Monday they are joining forces to make it easier to buy antiques, collectibles and works of fine art online.
NEW YORK, July 14- Sotheby's and eBay announced a partnership on Monday to make it easier to buy antiques, collectibles and works of fine art online. The deal will connect Sotheby's, with its extensive inventory of fine art, antiques, books, jewels, watches and furniture, with eBay's 145 million active buyers around the world.
Convinced that consumers are finally ready to shop online for Picassos in addition to Pez dispensers, Sotheby's and eBay are teaming up again. The NYT reports.