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November 30, 2021

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U.S. labor board official orders Amazon to redo union vote at Alabama warehouse

Reuters
SAN FRANCISCO, Nov 29 (Reuters) – A regional director for the U.S. National Labor Relations Board on Monday called for a rerun of a union election at an Amazon.com Inc (AMZN.O) facility in Alabama, setting the stage for another high-profile organizing battle at the world’s largest online retailer. Workers at......

Walmart CEO says Biden supply chain push is easing bottlenecks

Reuters
WASHINGTON, Nov 29 (Reuters) – Walmart Inc (WMT.N) Chief Executive Doug McMillon on Monday hailed the Biden administration’s efforts to ease supply chain bottlenecks as the holiday season gets underway, noting the decision to extend port hours was having a positive impact on the flow of goods. “We are seeing......

Cyber Monday spending expected to slow as shoppers see fewer deals

Reuters
Nov 29 (Reuters) – U.S. retailers are estimated to generate online sales of up to $11.3 billion on Cyber Monday, a decline in growth from a year earlier as fewer discounts and limited choices due to global supply chain disruptions deter shoppers. Retailers had also spread out promotional deals across......

Amazon exec says Omicron’s impact on holiday spending uncertain

Reuters
A delivery person pushes a cart full of Amazon boxes during Black Friday sales in the Manhattan borough of New York City, New York, U.S., November 26, 2021. REUTERS/Jeenah Moon Register now for FREE unlimited access to reuters.com Register NEW YORK, Nov 28 (Reuters) – A senior Amazon.com Inc (AMZN.O)......

India’s law enforcement agency summons Amazon, Future Group officials over 2019 deal

Reuters
NEW DELHI, Nov 28 (Reuters) – India’s economic crime-fighting agency summoned officials of Amazon.com Inc and its warring partner Future Group in a case related to alleged violation of foreign investment rules, according to sources with direct knowledge of the matter. Amazon received a summons issued by India’s Enforcement Directorate......

Traders pile into defensive options plays as COVID-19 fears return

Reuters
Global indices are displayed on a screen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 19, 2021. REUTERS/Andrew Kelly Register now for FREE unlimited access to reuters.com Register NEW YORK, Nov 26 (Reuters) – Soaring volatility on Wall Street on......

Black Friday ‘early birds’ find U.S. stores less crowded, fewer bargains

Reuters
CHICAGO, Nov 26 (Reuters) – Bargain hunters ventured out in chilly weather to buy Christmas gifts on Black Friday, finding stores less crowded than in years past as major U.S. retailers opened their doors early. A shift online, COVID fears and less-steep discounts have thinned crowds on the day after......

Climate activists target Amazon depots in Britain on ‘Black Friday’

Reuters
Woman with smartphone is seen in front of displayed Amazon logo in this illustration taken, July 30, 2021. REUTERS/Dado Ruvic/Illustration//File Photo Register now for FREE unlimited access to reuters.com Register TILBURY, England, Nov 26 (Reuters) – Climate activists targeted 13 Amazon (AMZN.O) depots across Britain on “Black Friday” as part......

In-person spectators return to New York’s Thanksgiving parade

Reuters
Nov 25 (Reuters) – Spectators once again lined the streets of Manhattan on Thursday for the 95th annual Macy’s Thanksgiving Day Parade after last year’s spectacle was scaled down and closed to the public because of the coronavirus pandemic. Other U.S. cities hold parades, but New York’s event has become......

Amazon seeks to pause antitrust review of 2019 deal with India’s Future, documents show

Reuters
NEW DELHI, Nov 24 (Reuters) – Amazon.com Inc (AMZN.O) has asked India’s Supreme Court to pause an expedited review of allegations that the U.S. firm concealed information while seeking antitrust clearance for a 2019 deal with India’s Future Group, legal papers seen by Reuters showed. The Competition Commission of India......

Wall Street ends higher; Nvidia surge offsets Nordstrom, Gap slide

Reuters
Nordstrom, Gap tumble on weak earnings Core PCE index rises in October Real estate leads among S&P 500 sectors Nov 24 (Reuters) – Wall Street ended higher on Wednesday, lifted by gains in Nvidia and other tech stocks, while Gap and Nordstrom shares tumbled following weak quarterly reports. Nordstrom (JWN.N)......

Investors watch retail stocks as U.S. holiday shopping beckons

Reuters
NEW YORK, Nov 24 (Reuters) – Investors are zeroing in on a number of hot retailers’ shares as the U.S. holiday shopping season kicks into high gear this week, weighing the potential for supply chain problems against expected strong consumer demand. The day after the U.S. Thanksgiving holiday, Black Friday,......

Nordstrom warns of supply shortages as holiday season approaches, shares plunge

Reuters
The company logo for Nordstrom Inc, is displayed on a screen at the New York Stock Exchange (NYSE) in New York, U.S., October 22, 2019. REUTERS/Brendan McDermid Register now for FREE unlimited access to reuters.com Register Nov 23 (Reuters) – Nordstrom Inc (JWN.N) said labor costs pinched its quarterly profit......

‘Black Friday’ drags through November amid tight U.S. inventories

Reuters
CHICAGO, Nov 23 (Reuters) – Facing scarce year-end inventories and a shortage of workers, retailers are turning “Black Friday” into a month-long event. Walmart, the world’s largest retailer, said on Monday it had already started “Black Friday” discounts, such as $30 off AirPods and KidKraft dollhouses. Walmart, whose stores will......

EU’s Vestager cheers as lawmakers vote for tougher tech laws

Reuters
EU Commission Executive Vice-President Margrethe Vestager holds a news conference on European Commission’s competition policy, in Brussels, Belgium November 18, 2021, REUTERS/Yves Herman Register now for FREE unlimited access to reuters.com Register STRASBOURG, Nov 23 (Reuters) – A key committee of EU lawmakers on Tuesday agreed to tougher laws targeting......

Amazon and Apple handed $225 million in Italian antitrust fines

Reuters
MILAN, Nov 23 (Reuters) – Italy’s antitrust authority has fined U.S. tech giants Amazon.com (AMZN.O) and Apple Inc (AAPL.O) a total of more than 200 million euros ($225 million) for alleged anti-competitive cooperation in the sale of Apple and Beats products. Contractual provisions of a 2018 agreement between the companies......

Union group says U.S. should reject Amazon’s plan to buy MGM

Reuters
Smartphone with Amazon logo is seen in front of displayed MGM logo in this illustration taken, May 26, 2021. REUTERS/Dado Ruvic Register now for FREE unlimited access to reuters.com Register WASHINGTON, Nov 22 (Reuters) – Four big unions, including the Service Employees International Union and the Teamsters, urged the U.S.......

Analysis: Visa’s Amazon spat shows power is shifting to retailers in fee battle

Reuters
NEW YORK, Nov 22 (Reuters) – Amazon.com Inc (AMZN.O)‘s latest spat with Visa (V.N) shows big retailers, armed with a growing array of payment options, are gaining the upper hand in their power struggle with card providers, but it’s not a crisis for the payment company. Amazon said last week......

China fines tech giants for failing to report 43 old deals

Reuters
BEIJING, Nov 20 (Reuters) – China’s market regulator on Saturday said it was fining companies including Alibaba, Baidu and JD.com for failing to declare 43 deals that date as far back as 2012 to authorities, saying that they violated anti-monopoly legislation. Enterprises involved in the cases would be fined 500,000......

UDPATE 5 Alibaba slashes sales outlook as competition bites, demand slows

Reuters
The logo of Alibaba Group is lit up at its office building in Beijing, China August 9, 2021. REUTERS/Tingshu Wang/File Photo Register now for FREE unlimited access to reuters.com Register Nov 19 (Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd (9988.HK), slashed its forecast for annual revenue growth on......

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