The US retail giant Walmart reported a rise in revenues on Thursday on increased e-commerce and advertising sales, and raised its outlook for the year. Given its vast size and presence across the United States, Walmart’s earnings are closely scrutinized for signs of the broader health of US consumers.Its strong sales in the US for … Read more
Alibaba Group Holding missed market expectations for first-quarter revenue on Thursday, as the company’s domestic e-commerce sales came under pressure from cautious spending by Chinese consumers in a faltering economy. US listed shares of the company fell about 4% in premarket trading. A halting economic recovery in China coupled with a persistently weak property market … Read more
Signage at the Alibaba Group Holding Ltd. headquarters in Hangzhou, China, on Friday, Aug. 2, 2024. Qilai Shen | Bloomberg | Getty Images Alibaba missed top and bottom line expectations for the June quarter of 2024 as it continues to face headwinds in its core e-commerce business amid rising competition and a cautious Chinese consumer. … Read more
Federal Trade Commission Chair Lina Khan testifies during a hearing of the House Appropriations Subcommittee on Financial Services and General Government, May 15, 2024. Tom Williams | CQ-Roll Call, Inc. | Getty Images The Federal Trade Commission on Wednesday voted unanimously to ban marketers from using fake reviews, such as those generated with AI technology, … Read more
Rajiv Rattan, Founder & Chairman, RattanIndia, says renewables could be a natural extension for the company and the cash coming out of the power business will give them the freedom to pursue anything related to energy. As and when they decide on that, they will announce to the markets. As the coal-based plant provides solid … Read more
Roundhill Investments wants to mimic the success of its Magnificent Seven ETF (MAGS) in China. The firm’s CEO Dave Mazza plans to launch the Lucky Eight ETF, which aims to be China’s answer to the success of Wall Street’s big tech stocks. “There’s a lot of question marks about the Chinese economy and the potential … Read more
E-commerce artisan marketplace Etsy is at a crossroads as it tries to balance declining gross merchandise sales, a tumbling stock price and high inflation with the needs of its 7 million sellers. “After the big increase in both buyers and spending per buyer during Covid, it looks like they’ve hit a wall,” said Jason Helfstein, … Read more
Wayfair store in Wilmette, Illinois. Courtesy: Wayfair What retail apocalypse? Online home goods retailer Wayfair is opening its first namesake store, near Chicago, following a string of other digitally native companies that have turned to brick-and-mortar for growth. In an ironic twist for a company that became a $12 billion powerhouse by persuading consumers to … Read more
MUMBAI: Indian startups have the potential to contribute $1 trillion to the country’s GDP by FY30 and add over 50 million direct and indirect jobs, a report by the Confederation of Indian Industry (CII) said. Sectors like retail and e-commerce, fintech and SaaS (software-as-a-service) could lead the charge, driving disproportionate growth. A rise in online … Read more
Para of MD Existing Provision Amended Provision 7(c) Card-issuers may issue business credit cards to business entities/individuals for business expenses. The business credit cards may also be issued as charge cards, corporate credit cards or by linking a credit facility such as overdraft/cash credit provided for business purpose as per the terms and conditions stipulated … Read more