Alibaba, the Chinese eCommerce behemoth, is planning to expand its Tmall eCommerce site to Europe, according to Michael Evans, president of Alibaba Group. Speaking at the Viva Tech conference in Paris, Evans revealed that the company’s move into Europe reflects a significant shift in strategy...
Federal officials are reportedly probing Goldman Sachs’ involvement in the final days of Silicon Valley Bank. A report by The Wall Street Journal (WSJ) Thursday (June 15) says that Federal Reserve and the Securities and Exchange Commission (SEC) are investigating the banking giant’s role in...
Kroger is using artificial intelligence (AI) to drive spending among inflation-concerned shoppers, utilizing consumer data to be more effective with its digital couponing efforts. On a call with analysts Thursday (June 15) discussing the grocery giant’s first-quarter FY 2023 financial results, Chairman and CEO Rodney...
TikTok will invest billions in Southeast Asia as it undergoes scrutiny elsewhere in the world. The announcement from the company’s chief executive Thursday (June 15) appeared to confirm reports from last week that the social media giant was looking to Asia to help it expand...
Overseas retailers, once focused on expansion in global markets, are showing increasing interest in claiming a stake in the United States, seeking to make their presence known both online and in-store. As reported in June by The Wall Street Journal, global brands such as Mango...
Visa and payment and treasury management platform Sunrate have teamed to boost its cross-border payment offerings. The partnership allows Sunrate customers to send and receive money directly to eligible Visa debit and prepaid cards, according to a Thursday (June 15) press release. “The appetite for quicker...
Cava’s blockbuster initial public offering (IPO) comes as restaurant customers look to strike a balance between convenience and quality — the sweet spot for the fast-casual segment. The Mediterranean fast-casual brand shared in a news release Wednesday (June 14) that it brought in about $318...
Money transfer FinTech Zepz is reportedly looking to add to its business portfolio. The company, which owns remittances firms WorldRemit and Sendwave, is looking for merger and acquisition targets in a bid to capture a greater portion of the global payments market, CEO Mark Lenhard...
J.Crew once had a chokehold on a cohort of consumers who seemingly loved the preppy vibe along with brands like Abercrombie & Fitch and Hollister Co. Today, the flame as faded out as J.Crew’s product assortment no longer seems to resonate with consumers, reflected in...
