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Search resuls for: "Commerce of"


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☆ Thai headline CPI rises 5.98% y/y in Oct, less than forecast
  + stars: | 2022-11-07 | by ( ) www.reuters.com   time to read: 1 min
BANGKOK, Nov 7 (Reuters) - Thailand's headline consumer price index (CPI) rose 5.98% in October from a year earlier, commerce ministry data showed on Monday, slightly lower than forecast. The rise follows September's 6.41% increase and was just shy of the 6.0% forecast in a Reuters poll. The core CPI index, which strips out energy and fresh food prices, was up 3.17% in October from a year ago, versus a forecast rise of 3.20%. "The inflation situation is slowing," senior commerce official Poonpong Naiyanapakorn told a briefing. Reporting by Kitphong Thaichareon and Satawasin Staporncharnchai, writing by Chayut Setboonsarng; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.
☆ Walmart doubles down on Africa despite a decade of frustration
  + stars: | 2022-10-21 | by ( Nqobile Dludla | ) www.reuters.com   time to read: +8 min
A shopper pushes a trolley as she leaves a Builders Warehouse store owned by Walmart-led Massmart Holdings in South Africa, at Gleneagles, in the south of Johannesburg, South Africa, October 20, 2022. Instead, Massmart's units outside South Africa struggled with foreign exchange risk, tricky regulatory environments and macroeconomic volatility. Earlier this year, an internal Amazon.com Inc (AMZN.O) memo detailing its expansion plans, including a maiden foray onto the continent via South Africa, leaked to media. The pending battle with its global rival looms over Walmart's e-commerce strategy for Massmart, several shareholders told Reuters. While Walmart can now firmly set the direction at its South African unit, its track record outside the United States is spotty.
☆ Publicis Raises 2022 Organic-Growth Guidance Again
  + stars: | 2022-10-18 | by ( Megan Graham | ) www.wsj.com   time to read: +4 min
Organic growth refers to the change in net revenue excluding the impacts of acquisitions, disposals and currency fluctuations. Publicis and its rival companies had previously increased their expectations for growth in 2022, despite global factors including inflation and the consequences of the war in Ukraine. Chief Executive Arthur Sadoun said the company hasn’t seen a material impact from clients dealing with macroeconomic challenges. Publicis CEO Arthur Sadoun Photo: Publicis Groupe“All of our clients are actually confronted with one, two, three or four major challenges, like inflation, like the supply shortage, like the war in Ukraine,” Mr. Sadoun said. Publicis said its organic revenue grew 10.3% in the third quarter from a year earlier.
☆ White House taps Commerce official to run 'Made in America' office
  + stars: | 2022-10-12 | by ( David Shepardson | ) www.reuters.com   time to read: +2 min
WASHINGTON, Oct 12 (Reuters) - The White House said Wednesday it is tapping a Commerce Department official to run an office aimed at spurring the U.S. government's purchase of more American products and services. Livia Shmavonian is taking the helm of the White House Office of Management and Budget's (OMB) "Made in America" office created by President Joe Biden last year. Shmavonian was at the Commerce Department's International Trade Administration and previously staff director for a Senate Finance trade subcommittee. She is replacing Celeste Drake, a former trade official at the AFL-CIO, who has moved to a new White House job. The order sought to make "Buy America" waivers more transparent.
☆ Shopify's latest fintech product looks to demystify sales tax rules that have grown increasingly complex for merchants and rivals like Amazon
  + stars: | 2022-10-12 | by ( Madeline Stone | ) www.businessinsider.com   time to read: +5 min
The launch of Shopify Tax comes as collecting sales tax has grown increasingly complex for Shopify merchants — and for the company's e-commerce rivals, like Amazon. "The world of sales tax has gotten a lot more complicated," Lauren Stinson, a partner and national leader in sales and use tax at Cherry Bekaert, said to Insider. Sales tax rules reveal a key difference between Shopify and AmazonShopify's biggest rival, Amazon, didn't collect sales tax on its third-party marketplace sales for years. But new laws for marketplaces introduced over the last several years have changed Amazon's responsibilities regarding sales tax. Amazon — and other marketplaces like Etsy and Walmart — are now considered "marketplace facilitators," according to Diane Yetter, founder of the Sales Tax Institute and president of Yetter Tax, a sales tax consulting and education business.
☆ Hollister Lets Teens Send Their Online Carts to Parents for Checkout
  + stars: | 2022-10-11 | by ( Katie Deighton | ) www.wsj.com   time to read: +5 min
Hollister Co., the Abercrombie & Fitch Co. retailer popular among teens, is rolling out a new system that lets shoppers pass their carts to someone else for payment. “There was a lot of lost sales on the table,” said Samir Desai, chief digital and technology officer at Abercrombie & Fitch Co. The Share2Pay system will initially only be available to customers in the U.S. and U.K. using the Hollister app. It lets shoppers send their shopping carts to the ultimate buyer via text message in lieu of a traditional checkout mechanism. Shoppers using the Share2Pay system can send their baskets to their designated buyers along with a note.
☆ Walmart's not waiting for Black Friday. it's ready for holiday shoppers now
  + stars: | 2022-09-22 | by ( Parija Kavilanz | ) edition.cnn.com   time to read: +3 min
New York CNNBusiness —Halloween is still a month away, but Walmart is ready for Christmas. Walmart on Thursday said it’s getting the ball rolling on its year-end holiday shopping season at its stores and online as early as next month. The retailer said it is also changing its return policy for Walmart and Walmart+ subscription service customers to give this year’s early gift shoppers more time to make returns. Given the company’s status as an industry bellwether, it’s too soon to say whether Walmart’s earlier-than-usual holiday push could trigger other retailers to follow suit. “If there are fewer gift purchases by consumers, expect to see even more holiday promotions than ever.”
☆ U.S. picks team to oversee $52.7 bln in semiconductor funding
  + stars: | 2022-09-20 | by ( David Shepardson | ) www.reuters.com   time to read: +3 min
REUTERS/Kevin LamarqueWASHINGTON, Sept 20 (Reuters) - The Biden administration on Tuesday named a team of senior advisers to oversee $52.7 billion in government funding to boost semiconductor manufacturing and research. In August, Congress approved $52.7 billion for semiconductor manufacturing and research and a 25% investment tax credit for chip plants that is estimated to be worth $24 billion. At Commerce, Treasury official Michael Schmidt will serve as CHIPS Program Office director. Former Palm Computing CEO Donna Dubinsky is Raimondo's senior counselor for CHIPS implementation and Commerce official J.D. Commerce hopes by February to begin seeking applications for $39 billion in semiconductor chips subsidies to build new facilities and expand existing U.S. production.
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