After years of expansion and billions in profits, Big Tech is pulling back from its famously lavish spending as a long boom finally ends.
Category: E-Commerce
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Amazon Reports Almost No Profit and Slowing Growth
The New York Times – Business:The company indicated the slowing growth and tight margins would continue in the first three months of this year.
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Falling Used-Car Demand Puts Pressure on Carvana and Other Dealers
The New York Times – Business:Dealerships are seeing sales and prices drop as consumers tighten their belts, putting financial pressure on companies like Carvana that grew fast in recent years.
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With Layoffs, Retailers Aim to Be Safe Rather Than Sorry (Again)
The New York Times – Business:Companies that ramped up hiring in areas like technology over the past few years are cutting back as customers slow their spending.
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Tech Layoffs Continue as Shares Fall and Interest Rates Rise
The New York Times – Business:Rock-bottom rates were the secret engine fueling $1 billion start-ups and virtual attempts to conquer the physical world. But in 2023, reality bites.
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For Tech Companies, Years of Easy Money Yield to Hard Times
The New York Times – Business:Rock-bottom rates were the secret engine fueling $1 billion start-ups and virtual attempts to conquer the physical world. But in 2023, reality bites.
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A New Way to Hand-Me-Down
The New York Times – Fashion & Style:To help reduce clothing waste, two mothers in San Antonio started a small business reselling used children’s clothes.
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Amazon Axes ‘Smile’ Charity Program, Citing Limited Impact
The New York Times – Business:The move comes as Amazon is laying off 18,000 workers, but a company spokesman said the decision to end the AmazonSmile program was not a cost-cutting measure.
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Rolex Now Has a Resale Program. The Watch World Quakes.
The New York Times – Fashion & Style:The privately owned Swiss brand dominates the market by virtually every measure. Will it swallow up resales, too?
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The S.E.C.’s Crypto Crackdown Intensifies
The New York Times – Business:The agency has charged the crypto trading firms Genesis Global Capital and Gemini with operating an illegal lending service that lost customers millions.
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Amazon Loses Bid to Overturn Union Victory at Staten Island Warehouse
The New York Times – Business:A National Labor Relations Board official found a lack of evidence to support claims of election improprieties. Amazon could appeal the decision.
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With Many Retailers Offering Online Sales, Phony Sites Blend In
The New York Times – Business:Preying on shoppers strapped for cash and time, scammers are setting up fake sites that claim to have deep discounts on premium brands.