The UK-based department store chain British Home Stores (BHS) has secured a loan from Grovepoint Capital. The latest loan amount is believed to be worth GBP 65 million.
Tags: Online
Snapchat video reaches 6 billion views a day
Messaging app Snapchat announced it is generating 6 billion video views every day. The number is three times the number of daily views in May.
Out of range: Target is closing down 13 stores in the US
Target, one of America largest retail stores is closing 13 stores across the United States that has been performing badly over the years. The management blames decreasing profit in these stores as the main reason for the closure.
Four of 10 products sold online in China are fakes, shoddy
More than 40% of goods sold on the Internet in China are fakes or shoddy, according to a report by an official of the standing committee of the National People's Congress, the country's top law-making body.
Square suffers $5.7mn loss from single seller, files IPO
Payments startup Square, e-Commerce organization run by new Twitter CEO Jack Dorsey, is going for an initial public offer (IPO) and mentions in the filing to Securities Exchange Commission (SEC) that the fraud could be a major hurdle for it. Square was target of hacking as a single seller used its payment services resulting in a huge loss of $5.7mn for the e-Commerce startup. The automated global payment system and the liquidity of Square were the major reasons why it was the target for illegal or improper use.
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Macy's Inc recently announced its plans of closing 35 to 40 underperforming stores to focus its operation on online shopping. Reuters reports that Macy's plans to close the stores early in 2016. It would also announce on a later date which among the 770 stores it operates will be closed. Macy's operates a total of 885 stores all over the world.
There are a lot going on in the credit card industry, from credit card and gas related theft and fraud to online shopping without credit cards. Forbes reports on each of this credit card news. First, there is a fast spreading epidemic in the credit-card and gas-station industries where thieves are pumping gas illegally for profit. Meanwhile, a new Swedish checkout service allows people to shop online without using credit cards.
LVMH Moet Hennessy Louis Vuitton, a French luxury fashion conglomerate was reported to have hired a new chief digital officer from Apple, reported by The Wall Street Journal.
Millions of retailers in India are starting to get the hang of selling products online, and the platforms where they offer their products are giving them free training on how to properly prepare and sell their products. Free "universities" are becoming a fast growing trend among India's top online retailers.
Good Eggs, the online organic grocery store, is shutting down its operation in New Orleans, Los Angeles and Brooklyn.
Amazon is not going to get away with the sales spotlight as Wal-Mart launches its own version of Prime Day Wednesday, bringing the battle for sales spotlight to a whole new level.
Gamers ready their zombie-killing skills and cooperative spirit as Resident Evil Revelations 2 online co-op Raid mode goes live later this month.
PS4 announces another free online multiplayer weekend for console fans. Many are expected to try out new multiplayer games especially the new new Battlefield installment, Hardline.
From cut-price apple pies to free iPads, companies in China are transforming Sunday's dreaded consumer rights day into a shopping frenzy, to blunt the impact of being named and shamed in state broadcaster CCTV's annual expose.
