E-commerce

U.S. Retail Sales Declined in May as Inflation Stings Consumers

U.S. Retail Sales Declined in May as Inflation Stings Consumers

Americans’ retail spending declined in May, as consumers felt the pinch from inflation, higher gasoline prices and rising interest rates. Retail sales—a measure of spending at stores, online and in restaurants—fell a seasonally adjusted 0.3% in May from the previous month, the Commerce Department said Wednesday. That was the first decline in month-over-month retail spending …

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Shares of Shopee-owner Sea surge 14% after stronger-than-expected revenue

Shares of Shopee-owner Sea surge 14% after stronger-than-expected revenue

Shares of Southeast Asia’s e-commerce and gaming firm Sea Group popped after its first-quarter revenue beat analysts’ expectations on Tuesday. Sea’s U.S.-listed shares rose 14% to close at $80.21 after the of Singapore-based internet firm reported revenue that exceeded analysts’ expectations in the first quarter this year. Here’s how the New York Stock Exchange-listed company …

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Rivian Warns Dispute With Seat Supplier Threatens Production of Amazon Delivery Vans

Rivian Warns Dispute With Seat Supplier Threatens Production of Amazon Delivery Vans

Electric-vehicle startup Rivian Automotive Inc. is suing a key supplier of seats, warning that a pricing dispute could impact production of an electric van ordered by Amazon.com Inc. Rivian in March sued the supplier, Ohio-based Commercial Vehicle Group Inc., CVGI -2.42% accusing it of violating the supply contracts for seats by nearly doubling an initially …

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The Companies Cutting Staff, Freezing Hiring or Slashing Costs: See the List

The Companies Cutting Staff, Freezing Hiring or Slashing Costs: See the List

Companies which saw substantial growth during the Covid-19 pandemic are starting to take a more cautious approach toward hiring and spending. SHARE YOUR THOUGHTS What is your outlook for the jobs market? Join the conversation below. Still, last week’s jobs report showed the labor market continued growing rapidly. And many businesses have struggled to fill …

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The clock is running out for Congress to pass Big Tech antitrust bills this year

The clock is running out for Congress to pass Big Tech antitrust bills this year

Nearly three years ago, when the Justice Department and Federal Trade Commission launched probes into the business practices of Big Tech, antitrust experts and legal talking heads declared a new age in enforcement and a chastening of unbridled financial power. But a pandemic and countless bill markups later — amid feverish lobbying efforts by Apple …

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Prologis Offers to Buy Duke Realty in Nearly $24 Billion Deal

Prologis Offers to Buy Duke Realty in Nearly $24 Billion Deal

Prologis Inc., PLD -5.26% the world’s largest owner of warehouse space, said it offered to buy Duke Realty Corp. DRE 3.92% in a nearly $24 billion deal, a vote of confidence in the e-commerce business at a time when investors are getting nervous about its growth. Prologis controls a 1 billion square foot global network …

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The Companies Paying Travel Costs for Abortions: Tesla, Amazon, Citi on Small but Growing List

The Companies Paying Travel Costs for Abortions: Tesla, Amazon, Citi on Small but Growing List

Texas-based Tesla Inc. is among a small but growing number of U.S. companies offering to cover travel costs for employees who need to cross state lines for medical care, including an abortion.  Companies are offering these benefits as the landscape of state and federal abortion policy in America is shifting. Texas implemented the country’s strictest …

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