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There’s an opinion regarding the future of retail.
Online retailers like Walmart, Starbucks and Amazon are opening physical stores as the demand for omni-channel retail has increased, while brick-and-mortar retailers have faced a decline, according to market research firm eMarketer. Meanwhile, BOPUS (buy online, pick up in store) has also increased in the past decade. However, BOPUS has slowed down in recent years,…
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What is this blue thing that is on social media?
Twitter has announced that certain accounts, including personal accounts and businesses, that have been verified with a blue check mark may retain it, even if they don’t have a blue subscription. Some accounts have been verified with gold or gray check marks. Twitter also said that users can see gold or gray check marks on…
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A leaked document shows that employees are leaving Amazon fast.
Amazon warehouse workers in New York have voted against joining Amazon’s union. Workers voted 406 to 206 against joining ALU, the second loss out of ALU’s three unionisation campaigns at Amazon warehouses. The workers said that they were working 12-15 hours a day, four days a week during the “peak season” between Black Friday and…
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The stock market news is provided by the S&P 500.
The US stock market ended the third quarter on a negative note on Friday. The benchmark S&P 500 index fell 0.07% to close at 2,736, while the Dow Jones Industrial Average lost 0.15% to end the month at 25,835. The Nasdaq Composite index fell 0.36% to close at 7,610. Meanwhile, the London FTSE 100 index…
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The field of financial technology in Latin America and Africa is growing very fast.
The US Federal Reserve and the Business Payments Coalition are set to begin a pilot of an e-invoice exchange market pilot. The pilot is aimed at improving the efficiency of business payments by connecting e-invoices and traditional credit card payments. It is expected to be rolled out to about two dozen firms across the US…
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There are 10 new train journeys in the year 2023.
Swiss railway company BLS on Tuesday launched its new ‘Golden Pass Express’, which is the world’s first panoramic train. The trains are designed to change their height and wheel gauge from one line to the next, so that passengers can view the scenery from the seats. The Golden Pass Express connects Montreux, Gstaad and Interlaken.
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She worked as a producer for ABC News.
A nonprofit run by a US businessman, Matrix, paid $43,000 for advertisements on a news website that was critical of Florida Power & Light, an Alabama-based power company, Floodlight and NPR reported. According to emails, Matrix executives agreed to let the site’s reporter write the story because he would make them look bad for Florida…
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Electric cars are taking off, but when will battery recycling follow?
A US-based company Redwood Materials has released the results of tests at the US’ Argonne National Laboratory comparing recycled materials to virgin ones. It found that recycled materials were no different from virgin materials. Redwood said that it’d make enough material for 100GWh worth of batteries by the year 2025, about the same as what…
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Big oil companies want to be seen as good guys.
ExxonMobil’s operations in Guyana will have “about 30% lower greenhouse gas intensity” than its average oil or gas production by 2027, a company spokesperson said. By 2030, the company expects Guyana to be one of the world’s top 20 oil producers because of it’s dense blanket of rain forests and minimal emissions. By 2027, Guyana…
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China is a hot new place for US election misinformation.
TikTok-parent ByteDance was planning to track two Americans who “had never had an employment relationship with the company”, Forbes reported. ByteDance’s Internal Audit team planned to surveilling at least two Americans who “had never had an employment relationship with the company”, the report added. This comes weeks after ByteDance said that it had stopped providing…
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If you get left behind, embrace diversity.
Black Founders Fund Co-founder and CEO Cyril Lutterodt has said that black entrepreneurs are over-mentored but under-funded. He stated, “Black founders are over-mentored, but under-funded. Data from Crunchbase shows that Black-founded startups received a record funding in 2021 with over $1 billion invested in the first quarter of 2021.” Black entrepreneurs received 1.2% of the…
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What is the flavour of lab-grown meat?
California-based Upside Foods is waiting on the US Food and Drug Administration (FDA) to greenlight its first cultivated meat products, including chicken fillet. The company’s co-founder and cardiologist Uma Valeti said she dreamt of a way to “grow” meat in a production facility, by culturing animal cells. Founded in 2012, Upside Foods claims to be…
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Sam Bankman-Fried’s fortune went down in a single week.
FTX Founder Sam Bankman-Fried was arrested in the Bahamas on Monday after US prosecutors filed charges against him, according to a statement from the government of the Bahamas. Bankman-Fried moved the liability to an account that would not be charged interest, because FTX internal systems automatically charged Alameda interest on the over $8 billion liability.
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We’d love to know what your holiday shopping plans are.
US retail sales for the combined November-December shopping months will grow between 6% and 8% this year compared with the 2021 holiday season, National Retail Federation said. Retail sales for the combined November-December shopping months will grow between $942.6 billion and $960.4 billion, the trade group said. This compares unfavorably with last year’s robust 15.1%…
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Tipped workers are having a fight over wage rules.
Customers should approach the touch screen option the same way they’d a tip jar, according to etiquette experts. When prompted on the screen, leave change or a small cash tip in the jar. “Asking the worker if there’s a suggested tip amount is a great way to find out what you can do,” Cornell University…
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Workers at 100 Starbucks stores are going on strike in a unionization effort.
The National Labour Relations Board (NLRB) has filed 35 complaints against Starbucks for allegedly “coercing, threatening and firing employees over their union activities and withholding wage increases and benefits from unionisation stores”. Starbucks said it disagreed with the judge’s ruling, maintaining that those fired had violated company policies. The complaints were filed after Starbucks CEO…
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Jamie Dimon of JP Morgan warns of a recession.
US stocks closed lower on Friday after data showed the country’s payrolls grew by 152,000 in October, slower than the previous two months’ increase of 230,000 and 235,000 respectively. The Dow Jones Industrial Average was down over 250 points in early trade. However, the broader S & P 500 index ended the day up nearly…
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The Grinch is coming for retailers.
US retail sales in November fell for the third consecutive month, a report said. The dip was the biggest in almost a year, the US Commerce Department said. The retail sales, which accounts for 20% of all retail sales, were expected to rise for the third straight month. Retail sales rose 1.4% year-on-year in October,…
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Sam Bankman-Fried is the founder of FTX.
Sam Bankman-Fried, who backed FTX and Binance, has been arrested by the US Securities and Exchange Commission (SEC) for allegedly running a Ponzi scheme. According to the SEC, Bankman-Fried duped investors who backed FTX by promoting it as a “safe, responsible” crypto trading firm. He allegedly used his FTX exchange and his sister hedge fund…
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Residents of Kherson know Russia is still a threat even though there are cheering crowds in the streets.
Russian forces on Saturday broke into the home of a Ukrainian businessman in Ukraine’s capital Kiev, his wife said. The man said he was not home at the time but the Russian forces had broken into the house within hours of them leaving. More than 200 Ukrainians were killed when the Russians occupied Borodianka shortly…
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Is Green Capitalism a total waste of time?
A US House Committee found that Big Oil companies have engaged in a “long-running greenwashing” campaign while raking in “record profits at the expense of American consumers”. The companies are prioritising record profits over human costs of climate change, it added. The report also said that the oil and gas industry obstructed its investigation throughout…
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Holiday sales could increase between six and eight per cent in the years that follow.
Retail sales for the combined November-December shopping months will grow between 6% to 8% this year compared with the 2021 holiday season, according to projections released on Thursday by the National Retail Federation. Matthew Shay, NRF President and CEO said that consumers overall are resilient and continue to spend even as they feel the pressure…
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What will rising interest rates mean for you?
Interest rates in the US have increased at the fastest pace in 40 years. Mortgage rates have rocketed to 20-year highs, home equity lines of credit are the highest in 14 years, and car loan rates are at 11-year highs. “If inflation proves sticky despite higher interest rates, you might also consider putting some money…
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The $569 million in coins was Minted by the hack of the Binance company.
The Bahamas police has said that a team of financial investigators is working with the SEC to investigate if there was criminal activity after the FTX collapse. Former CEO Sam Bankman-Fried had filed for bankruptcy last month, leaving over a million depositors unable to access their funds. FTX moved its headquarters from Hong Kong last…
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Republicans are attacking TikTok in a way that plays to the Fox News crowd.
Chinese video-sharing platform TikTok’s parent company BYTEDance has said that it does not provide any information on its users to the government or other entities. “We don’t provide any information on our users to any third party,” a BYTEDance spokesperson said. TikTok was acquired by BYTEDance in 2018 for $6.2 billion in the largest-ever deal…