Amazon (AMZN) will stop placing bulk orders with thousands of small suppliers over the next few months, Bloomberg reported on Monday, citing three sources familiar with the company’s plans. Amazon is looking to cut costs and focus wholesale purchases from major brands such as Procter & Gamble (PG), Sony (SNE), and Lego, the sources said. This will ensure that the […]
Walmart (WMT) has hired an executive from Alphabet’s Google (GOOG, GOOGL) as its chief technology officer as the world’s biggest retailer increasingly looks to bolster e-commerce for customers and deepen functions within its physical stores. Suresh Kumar was named CTO and chief development officer in a “newly elevated” role that reports directly to Doug McMillon, chief executive of the Bentonville, […]
Facebook (FB) is finalizing plans to launch its own cryptocurrency in Q1 2020 with a digital payments system in about a dozen countries, BBC News reported on Friday. Facebook is looking to start testing its cryptocurrency, referred to internally as GlobalCoin, by the end of the year. The social media company is expected to outline more detailed plans this summer. […]
