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Shopify Inc. has experienced a significant surge in its stock value after announcing strong sales growth projections for the upcoming holiday season. The Canadian e-commerce company's focus on attracting larger businesses has proven successful, with revenue for the third quarter exceeding analyst estimates. Shopify's expansion into Europe, increased use of in-store payment tools, and growth in the business-to-business segment have contributed to its overall success. The company's decision to target bigger retailers like Mattel Inc. marks a strategic shift from its previous focus on smaller businesses, aiming to accelerate growth by tapping into new customer segments. [Extracted from the article]

Shopify Inc. experienced a significant surge in its stock value after surpassing analysts' expectations with third-quarter revenue of $2.16 billion, a 26% increase. The company's focus on attracting larger retailers like Toys R Us has contributed to its growth, with gross merchandise volume reaching $69.7 billion. Despite investing heavily in marketing, Shopify's operating income fell short of estimates, but the company remains optimistic about future revenue growth. [Extracted from the article]

EBay Inc. experienced a drop in its stock value after projecting holiday season sales that were lower than analysts' expectations. The company has been focusing on specific categories like car parts, luxury goods, and collectibles to combat competition from larger rivals. Factors such as the presidential election, a shorter holiday shopping season, and the impact of the hurricane season were cited as reasons for the subdued sales forecast. Despite previous investor favor, eBay's stock dropped about 8.5% following the announcement. [Extracted from the article]

The article discusses how Shopify, traditionally known for serving small businesses, is now targeting larger companies to compete with Salesforce in the e-commerce market. Shopify has successfully attracted big brands like Toys R Us and Casper by offering lower prices and new features. While Salesforce emphasizes its broader functions and customer service capabilities, Shopify's focus on simplicity and cost savings is appealing to businesses looking to transition to a more flexible and transactional cost model. Both companies are adapting to meet the evolving needs of e-commerce clients, with Shopify gaining traction among smaller businesses and Salesforce maintaining appeal for larger enterprises. [Extracted from the article]

Boeing CEO Kelly Ortberg faced a setback in stabilizing the company as factory workers rejected a new labor contract offering a 35% wage increase over four years. The rejection led to a month-long strike, impacting Boeing's operations and finances. The strike, driven by workers seeking fair pay and benefits, has disrupted Boeing's production and supply chain, with potential long-term effects on the company's financial recovery. [Extracted from the article]

Boeing Co. factory workers have rejected a new labor contract that would have increased their wages by 35% over four years, leading to a continued strike and financial challenges for the aircraft manufacturer. The rejection of the contract has halted work on key airliner models, impacting Boeing's finances and potentially leading to a credit downgrade. The strike has disrupted Boeing's operations, with potential long-term effects on its financial recovery and supply chain. [Extracted from the article]

Boeing Co. factory workers have rejected a new labor contract that would have increased their wages by 35% over four years, leading to a setback for the aircraft manufacturer as it tries to end a month-long strike. The rejection of the contract is impacting Boeing's operations and finances, with the company expected to continue burning cash next year. The strike by IAM District 751 workers is the first major labor dispute at Boeing in 16 years, driven by demands for better pay and retirement benefits. [Extracted from the article]

Amazon employees have publicly expressed dissatisfaction with the company's culture on LinkedIn, with former worker Stephanie Ramos criticizing bureaucracy and a shift towards more meetings and middle managers. Current employees echoed her sentiments, with some criticizing CEO Andy Jassy's leadership and the new policy requiring workers to be in the office five days a week. While Amazon declined to address specific criticisms, Jassy has acknowledged the need to streamline management layers and revitalize the company's culture. The public airing of grievances on LinkedIn is unusual, highlighting ongoing tensions within the company. [Extracted from the article]

Amazon has unveiled a new artificial intelligence tool called Vision Assisted Package Retrieval (VAPR) to help drivers find packages more efficiently. The tool uses computer-vision technology to project a green circle on packages to be delivered at each stop and red Xs on those to be delivered later. This technology, initially developed for Amazon warehouses, has been adapted for vans and integrated with delivery-route navigation software. The tool is expected to shorten the typical delivery route by about 30 minutes and will be deployed in 1,000 Amazon vans next year. This announcement reflects Amazon's focus on near-term efforts to improve efficiency and reduce costs in its delivery operations. [Extracted from the article]

Amazon has unveiled a new artificial intelligence tool called Vision Assisted Package Retrieval (VAPR) to help delivery drivers find packages more efficiently. The tool uses computer-vision technology to project a green circle on packages to be delivered at each stop and red Xs on those to be delivered later. This technology, initially developed in Amazon warehouses, has been adapted for vans' cramped cargo areas and integrated with delivery-route navigation software. By shortening the typical delivery route by about 30 minutes, Amazon aims to reduce costs and make its e-commerce business more appealing to investors. [Extracted from the article]

Temu, a company in competition with Amazon, is targeting Amazon's Fire TV streaming device by selling Alexa-activated remote controls that are compatible with the Fire TV Stick for as little as $4. These knock-off remotes are selling well, with over 75,000 units purchased and positive reviews. It is unclear if Temu plans to sell other Fire TV-related gadgets. Amazon is currently investigating the situation. [Extracted from the article]

Temu, a company in competition with Amazon, is targeting Amazon's Fire TV streaming device by selling Alexa-activated remote controls that are compatible with the Fire TV Stick for as little as $4. These knock-off remotes are selling well, with over 75,000 units purchased and positive reviews. Temu's parent company, PDD Holdings Inc., is facing challenges in China and is becoming more reliant on overseas markets like the US. Amazon, which has been criticized for undercutting its brand partners, is investigating the matter. [Extracted from the article]

According to a forecast by Adobe Inc., US shoppers are expected to spend $240.8 billion online during the holiday season, an increase of 8.4% from the previous year. This growth is attributed to steep discounts and easing inflation, which will encourage shoppers to trade up on electronics, appliances, and sporting goods. The shift from physical stores to online platforms is expected to benefit e-commerce leader Amazon.com Inc. and traditional chains like Walmart Inc. Additionally, the forecast highlights the impact of China-linked startups like Temu, Shein, and TikTok, which are putting pressure on established US retailers. Consumers are also increasingly using artificial intelligence tools, such as ChatGPT, to find the best deals. However, despite the projected increase in online spending, US shoppers remain cautious due to concerns about jobs and the economy. [Extracted from the article]

Alibaba Group Holding Ltd. plans to launch a US credit card in collaboration with Cardless on Mastercard Inc.'s network. The Business Edge Credit Card will offer small businesses the choice between 3% cash back or 60-day interest-free payment terms for purchases up to $40,000 on Alibaba.com. The card, set to launch this year, will have an annual fee of $199. The aim of the card is to boost confidence among small businesses in buying directly from China-based suppliers and to help them save money on high interest rates. Alibaba is looking to expand its international business as it faces competition from domestic rivals JD.com and PDD Holdings Inc. [Extracted from the article]

Alibaba Group Holding Ltd. has partnered with Mastercard Inc. to create a US credit card aimed at small businesses. The Business Edge Credit Card offers users the choice between 3% cash back or 60-day interest-free payment terms for purchases up to $40,000 on Alibaba.com. The card also provides a 90-day refund policy. The goal of this initiative is to boost confidence among small businesses when purchasing from Chinese suppliers and to help them save money on high interest rates. Alibaba is looking to expand its international business as it faces challenges in its home market. [Extracted from the article]

Apollo Global Management Inc. and BlackRock Inc. are reportedly in talks to provide new debt financing for the merger of two Amazon aggregators. The merger would involve Paris-based Branded acquiring San Francisco-based Heyday in exchange for $521 million in equity in a new company called Essor. The new company would be worth over $1 billion and would receive additional debt from BlackRock, Apollo, and Apollo-backed Victory Park Capital to make acquisitions in the distressed direct-to-consumer e-commerce market. This merger is part of a larger consolidation trend among Amazon aggregators, many of which are facing financial challenges. [Extracted from the article]

BlackRock Inc. has initiated an auction for German startup SellerX after a loan granted to the Amazon aggregator went sour. The auction, scheduled for September 17th in Berlin, is a result of negotiations between the enterprise, investors, and lenders hitting an impasse. The move reflects the struggles faced by aggregators that raised billions during the pandemic-era e-commerce boom but have since struggled as online sales growth slowed. SellerX, once valued at $1 billion, has raised over $750 million in debt and equity but is now facing consolidation and the departure of its founders. [Extracted from the article]

Apollo Global Management Inc. and BlackRock Inc. are in discussions to provide new debt financing for the merger of two Amazon aggregators, Branded and Heyday. The proposed deal would create a new company called Essor, worth over $1 billion, with Branded CEO Pierre Poignant leading the company. The new company aims to acquire distressed direct-to-consumer e-commerce brands and increase their sales by getting them into physical stores. This merger is part of a larger consolidation trend among Amazon aggregators, many of which are facing financial challenges. [Extracted from the article]

Albertsons, the second-largest grocery chain in the US, has been sued by e-commerce software maker Replenium Inc. The startup alleges that Albertsons conducted trials with its software for three years, only to steal its trade secrets and build its own system. Replenium claims that it entered into an agreement with Albertsons in 2020, but the grocery chain abruptly ended the relationship in November. Replenium is seeking an unspecified monetary award for misappropriation of trade secrets, breach of contract, and unjust enrichment. Albertsons declined to comment on the lawsuit. [Extracted from the article]

Albertsons, the second-largest grocery chain in the US, has been sued by Seattle startup Replenium Inc. The software maker alleges that Albertsons conducted trials with its product for three years, only to steal its trade secrets and build its own system. Replenium claims that it entered into an agreement with Albertsons in 2020 to deploy software that allows online shoppers to subscribe to automatic replenishment of frequently purchased items. However, Albertsons abruptly ended the relationship in November, causing Replenium to lose millions of dollars in investments and anticipated revenue. Replenium is seeking an unspecified monetary award in the lawsuit. [Extracted from the article]

Amazon.com Inc. has warned its Flex drivers, who deliver packages in their own vehicles, that their payments may be delayed. The company did not provide an explanation for the delay or a timeline for resolution, causing concern among drivers who are used to prompt payment. Amazon has stated that the delay is due to a technical issue and that all outstanding payments are expected to be disbursed by Monday. Flex drivers have taken to social media to discuss their worries about the potential wait. The flexibility and quick payment of the job are major appeals for these drivers. [Extracted from the article]

Shopify Inc., a Canadian e-commerce company, reported second-quarter sales and profit that exceeded analysts' expectations, indicating that the company is successfully navigating cautious consumer spending. The company's revenue for the period was $2.05 billion, a 21% increase from the previous year and higher than the estimated $2 billion. The company's shares surged by as much as 25% following the announcement. Shopify has been facing challenges with slowing revenue growth but is investing in marketing to stimulate growth. The company's gross merchandise volume also increased by 22% in the second quarter. [Extracted from the article]

Covariant, a company that develops artificial intelligence software for industrial robots, has reportedly received a takeover inquiry from Amazon. Covariant's software allows robots from different companies to communicate and be managed in a centralized manner, making it an attractive target for Amazon's warehouse automation efforts. Covariant's customers include online retailer Otto Group, logistics firm Radial, and pharmaceutical distributor McKesson Corp. Amazon has been exploring other options to enhance its warehouse automation, including investments in other robotics firms. Covariant was founded in 2017 by CEO Peter Chen, a former researcher at the University of California at Berkeley. [Extracted from the article]

Amazon.com Inc. announced that a case alleging the company exposed warehouse workers to injuries has been dismissed due to lack of evidence. The Washington state Department of Labor and Industries had cited Amazon for setting rapid productivity targets that could harm employees. Amazon appealed the citations, and after a yearlong hearing, Judge Stephen Pfeifer ruled that the state lacked sufficient evidence to support its allegations. The ruling is a significant win for Amazon, which has faced scrutiny over warehouse safety. The Department of Labor and Industries plans to appeal the decision. [Extracted from the article]

US shoppers spent $14.2 billion online during Amazon's 48-hour Prime Day sale, an 11% increase from the previous year, according to Adobe Inc. The sale saw consumers taking advantage of discounts to update their electronics, apparel, and small home appliances. Amazon's marquee sale set a record for the number of items sold, but specific sales data was not provided. The average household spent about $152 on Amazon during Prime Day, with top-selling products including protein shakes, Amazon's Fire TV Stick, and Glad brand trash bags. Amazon launched Prime Day in 2015 to attract new subscribers and deepen its relationship with existing customers. [Extracted from the article]

Amazon.com Inc.'s marketing portal for merchants experienced a crash during its Prime Day sale, causing disruption for sellers and brands. The advertising portal allows merchants to adjust their ad budgets and bid on keywords to promote their products. Without access to the portal, brands were unable to effectively manage their ad spending on Amazon. Although Amazon stated that only a small portion of advertisers were affected and that the issue was being resolved, multiple sellers and consultants reported experiencing problems. The portal was down for approximately two hours before being fixed. [Extracted from the article]

Amazon.com Inc.'s marketing portal for merchants experienced a crash during the Prime Day sale, causing disruption for sellers. The advertising portal allows merchants to adjust their ad budgets and bid on keywords to promote their products. Without access to this system, brands are unable to effectively manage their ad spending on Amazon. The crash has affected multiple sellers, with discussions about the issue taking place online. Sales during the first seven hours of Prime Day were up almost 12% compared to the previous year. [Extracted from the article]

Amazon Prime Day sales increased by nearly 12% in the first seven hours of the event compared to the previous year, according to Momentum Commerce. This suggests a strong performance for Prime Day, as sales typically peak in the early hours. The average household spent around $100 on Prime Day purchases, with top-selling items including protein shakes, the Amazon Fire TV stick, sunscreen, and Amazon's Happy Belly brand grocery items. Prime Day serves as an indicator for the holiday shopping season, with estimates of online sales totaling $14 billion over the two-day event. However, US Senator Bernie Sanders released a report claiming that the surge in business during Prime Day increases the risk of injury for Amazon workers. Amazon has disputed the report, stating that it contains inaccuracies and faulty analysis. [Extracted from the article]

Amazon Prime Day sales have increased by approximately 13% in the first six hours of the event compared to last year, according to Momentum Commerce. This suggests a strong performance for Prime Day, as sales peaked early in the 2023 event. The event was launched in 2015 by Amazon to attract new subscribers and deepen relationships with existing customers. Estimates for online sales during Prime Day range from $13.8 billion to $14 billion, with Adobe Inc. predicting an 11% increase from last year. However, US Senator Bernie Sanders has released a report claiming that the surge in business during Prime Day increases the risk of injury for Amazon workers. Amazon has disputed the report, stating that it contains inaccuracies and faulty analysis. [Extracted from the article]

Amazon's practice of reselling returned products as new has caused significant harm to small businesses, according to consultants who work with merchants on the platform. One couple, Paul and Rachelle Baron, experienced this firsthand when a scathing review of their washable swim diaper, which had been sold as new but arrived used and stained, caused their sales to plummet. Despite their efforts to have the review removed, it remained on the site, leaving the couple $600,000 in debt. Amazon has since removed the review and claims to have made improvements to prevent such incidents, but merchants argue that the appeal process for removing reviews is broken. [Extracted from the article]

Police in Southern California raided a warehouse containing an estimated $2 million worth of suspected stolen merchandise that was likely intended for online marketplaces like Amazon. The raid was part of an effort to combat the increasing wave of cargo truck thefts, which have caused significant losses for the retail, logistics, and insurance industries. Cargo theft is less visible than shoplifting and is often sold in bulk to other criminals who then sell it online or in stores. The raid aimed to shut down a "fence," a place where stolen goods are sold, in order to disrupt the cycle of cargo theft. [Extracted from the article]

Police in Southern California raided a warehouse suspected of housing stolen merchandise that would have likely been sold on online marketplaces like Amazon. The raid was part of an effort to combat the increasing wave of cargo truck thefts, which have caused significant losses for the retail, logistics, and insurance industries. Cargo theft is a less visible form of theft compared to shoplifting, and California, Texas, and Illinois are hotspots for this type of crime. The raid aimed to shut down a "fence," where stolen goods are sold in bulk to other criminals who then sell them online or in stores. The police found pallets of inventory, including pet food, nutritional supplements, vacuum cleaners, air fryers, and self-tanner. Cargo theft is difficult to solve because it is challenging to prove that the merchandise was stolen unless thieves are caught in the act. Criminals have become more sophisticated, using stolen identities to impersonate legitimate trucking companies and covering their tracks. The value of stolen merchandise in the first quarter of this year was $73 million, more than triple the losses from the previous year. [Extracted from the article]

Police in Southern California raided a warehouse filled with suspected stolen merchandise that was likely destined for online marketplaces like Amazon. The raid was part of an effort to crack down on a rise in cargo truck thefts, which have caused significant losses for the retail, logistics, and insurance industries. Cargo theft is less visible than shoplifting and is a major problem in states like California, Texas, and Illinois. The raid aimed to shut down a "fence," where stolen goods are sold in bulk to other criminals who then sell them online or in stores. Amazon has a detection and prevention operation to combat organized retail crime and has helped identify and dismantle crime networks. Cargo theft is difficult to solve because it is challenging to prove that the merchandise was stolen unless thieves are caught in the act. Criminals have become increasingly sophisticated, using stolen identities to impersonate legitimate trucking companies and cover their tracks. The problem of cargo theft is expected to worsen in the future. [Extracted from the article]

Target Corp. has partnered with Shopify Inc. to expand its online marketplace for third-party merchants, in an effort to compete with Walmart and Amazon. Vendors using Shopify's e-commerce platform can now apply to sell their products on Target's marketplace, Target Plus, and select Shopify clients will also be able to sell in Target stores. The partnership will help broaden the marketplace's assortment of merchandise and accelerate its growth. Target plans to maintain its invite-only model and continue vetting sellers on the platform, curating the selection to stand out and build trust with consumers. [Extracted from the article]

Amazon.com Inc. has been fined $5.9 million by the California Department of Industrial Relations for not providing written work quotas to employees at two warehouses in Southern California. The state's warehouse quota law requires companies to inform workers of productivity quotas to avoid disciplinary action. Amazon has appealed the fines and denies subjecting workers to quotas. This is part of a larger trend of regulatory penalties and allegations against Amazon regarding working conditions in its warehouses. [Extracted from the article]

Amazon.com Inc. has committed $1.4 billion to its Housing Equity Fund, bringing its total housing pledge to $3.6 billion. The funds will be used to create 14,000 affordable units in the Seattle, Nashville, and Washington metro areas. This initiative is part of Amazon's effort to back affordable housing and address the housing shortage in expensive West Coast cities. The company has focused on providing units for families earning 30% to 80% of each area's median income. Critics argue that Amazon should do more to address the needs of the poorest residents, and that corporate philanthropy alone cannot solve the housing problem. [Extracted from the article]

Chinese e-commerce platform Temu is attracting more repeat customers than eBay, according to a recent survey. The survey found that 34% of respondents buy from Temu at least once a month, compared to eBay's 29%. However, Amazon remains the leader, with over three-quarters of respondents shopping there monthly. Temu has been successful in attracting customers through aggressive marketing and discounts, and its direct-from-factory model is trusted by US consumers for affordable products. The survey also revealed that pricing is the top source of dissatisfaction with Amazon, indicating that deals are becoming more important to consumers than speedy delivery. [Extracted from the article]

EBay Inc. will no longer accept American Express Co. cards as a payment option due to high fees charged by American Express for processing credit card transactions. The change will take effect on August 17. American Express argues that its fees are comparable to those charged by other networks like Visa and Mastercard, and that its card members have higher transaction sizes on eBay. This move by eBay follows similar actions by competitors like Amazon, who have also negotiated transaction fees. EBay represents less than 0.2% of American Express' total network volume. [Extracted from the article]

The Amazon Labor Union (ALU) is seeking to affiliate with the International Brotherhood of Teamsters in an effort to pressure Amazon into negotiating a contract with workers at a New York City warehouse. The ALU previously organized workers at an Amazon facility in Staten Island but has since faced internal conflicts and failed attempts to bring Amazon to the bargaining table. The proposed affiliation with the Teamsters still requires a vote from the ALU's 8,300 members. [Extracted from the article]

Jeff Bezos, the founder of Amazon.com Inc., recently sold 1.1 million shares of company stock, with more than half of the proceeds going towards a nonprofit preschool he established. The sale took place over a two-day period, with $117 million from the second day's sale being used to fund Day 1 Academies, a chain of Montessori-themed preschools founded by Bezos. The remaining proceeds' use was not disclosed. Bezos, who is the world's third-wealthiest person and now serves as executive chairman of Amazon, has other businesses including his space company Blue Origin. [Extracted from the article]