November 16, 2023
Alibaba Abandons Cloud Business Spin-off Amidst US Chip Export Ban
Alibaba Group Holdings Ltd. has abruptly abandoned its plans to spin-off its cloud business, citing uncertainties arising from the recent U.S. export restrictions on chips integral to artificial intelligence (AI)...
November 10, 2023
Man Gets 16-Year Prison Sentence in Alibaba IPO Fraud Case
A man was sentenced to nearly 16 years in prison for orchestrating a fraud related to Alibaba’s 2014 initial public offering (IPO). Frank Harold Rosenthal claimed to have a connection...
November 07, 2023
Shein Claims Top Spot in PYMNTS’ Provider Ranking of Shopping...
The holidays are fast approaching, and gifts are on everyone’s minds. With so many shopping apps available, it can be overwhelming to pick one to browse. Fortunately, PYMNTS has you...
November 06, 2023
Chinese AI Unicorn 01.AI Claims to Rival Meta’s Llama 2
Chinese artificial intelligence (AI) startup 01.AI has reportedly reached unicorn status less than eight months after launching. The company, founded by computer scientist and Google/Microsoft veteran Kai-Fu Lee, was valued at more than...
October 30, 2023
Omnicom Buys Flywheel to Extend eCommerce/Retail Media Reach
Marketing communications company Omnicom has acquired eCommerce firm Flywheel Digital for $835 million. The company says the net-cash purchase, announced Monday (Oct. 30), allows Omnicom to expand its footprint in...
October 25, 2023
To Reap Digital Gold Look for Kludge, Hope for Inspiration
If you want to come up with the next big thing for digital transformation, you shouldn’t wait around for inspiration. Maybe the apple falling from the tree really did inspire Isaac Newton...
October 16, 2023
Shein and Walmart Vie for Top Spot on Provider Ranking...
This month in PYMNTS’ Provider Rankings of Shopping Apps we see Walmart climbing to the top, giving Shein something to fight for. We also see double ties in our lower half but...
September 28, 2023
EU General Court Partially Suspends DSA Rules for Amazon
The European Union (EU) General Court has reportedly partly suspended a European Commission (EC) decision that required Amazon to publish a detailed database of advertisements it receives. The Wednesday (Sept....
September 28, 2023
Amazon Scores Initial Victory in Legal Battle with EU Regulators
In a recent courtroom clash, Amazon emerged victorious in the initial skirmish against European Union regulators, who had singled out the tech giant as one of the companies subjected to...
