Latest E-commerce News

Indonesia's Gojek, Tokopedia to merge as GoTo Group

May. 17, 2021 10:04 AM EDT

SINGAPORE (AP) — Indonesian ride hailing company Gojek and the country's biggest e-commerce firm Tokopedia said Monday that they are merging to form the GoTo Group, adding to surging competition in Southeast Asia that is attracting billions of dollars from investors. ...

Alibaba records first quarterly operating loss since IPO

May. 13, 2021 09:46 AM EDT

HONG KONG (AP) — Alibaba had its first quarterly operating loss since it went public in 2014 after Beijing slapped a record $2.8 billion fine on the nation's largest e-commerce company for abusing its market position. The loss tied to the anti-monopoly fine was 7.66...

Amazon blocked 10 billion listings in counterfeit crackdown

May. 10, 2021 15:24 PM EDT

NEW YORK (AP) — Amazon, which has been under pressure from shoppers, brands and lawmakers to crack down on counterfeits on its site, said Monday that it blocked more than 10 billion suspected phony listings last year before any of their offerings could be sold. The...

Beijing warns fintech firms against anti-monopoly behavior

Apr. 30, 2021 01:32 AM EDT

HONG KONG (AP) — Chinese financial regulators have summoned 13 companies engaged in online finance services, including Tencent and Bytedance, and told them to strengthen anti-monopoly measures. The regulators, which include the People’s Bank of China (PBOC) and...

Meituan raises $10 bln for self-driving cars, drone delivery

Apr. 21, 2021 02:56 AM EDT

HONG KONG (AP) — Chinese food delivery giant Meituan raised nearly $10 billion in a sale of convertible bonds and additional shares and plans to invest those funds in developing and expanding delivery technologies. The Beijing-based firm, China’s largest food delivery...

Alibaba fined $2.8 billion on competition charge in China

Apr. 10, 2021 00:02 AM EDT

BEIJING (AP) — Alibaba Group, the world’s biggest e-commerce company, was fined 18.3 billion yuan ($2.8 billion) by Chinese regulators on Saturday for anti-competitive tactics, as the ruling Communist Party tightens control over fast-growing tech industries. Party...

The secret to A&T grad's success (and special sauce)? Love.

Apr. 04, 2021 00:06 AM EDT

GREENSBORO, N.C. (AP) — In a one-story industrial building on Clifton Road, Matt Mullens has the big kitchen all to himself. Linoleum floors, steel tables and a stainless steel stove would make anyone feel like a high-end chef. But there’s nothing...