BLOOMBERG Amazon.com Inc is imposing a new fee on merchants who don’t use the company’s logistics services, a change many of these sellers consider coercive and surprising since the US government is poised to file an antitrust lawsuit against the e-commerce giant. Thousands of third-party merchants who ship products via Amazon’s Seller Fulfilled Prime program will start paying a 2% ...

BLOOMBERG Alibaba Group Holding’s e-commerce arm in China is hiring more than 2,000 graduates amid record youth unemployment and as authorities eased their regulatory crackdown on technology platforms. Taotian Group, the unit which includes Taobao and Tmall, is recruiting the graduates for a range of roles including design, product and data, according to a post on its official recruitment Wechat ...

BLOOMBERG Hon Hai Precision Industry Co now expects 2023 sales to fall after previously forecasting flat revenue, sounding a warning about demand for the devices it makes for Apple Inc and other global firms. Taiwanese company now expects most of its main business segments, including smartphones, to contract “slightly” this quarter and over the entire year, as global economic malaise ...

BLOOMBERG Ola Electric Mobility Pvt is expanding its electric two-wheeler lineup — with its first motorbike and cheapest scooter yet — as it seeks to lure buyers away from gasoline-fueled transportation. The Bengaluru-based startup unveiled four premium electric motorbikes, with sales and deliveries starting in December, at an event at its Ola Future Factory in the southern state of Tamil ...

BLOOMBERG Tesla Inc added new lower-range iterations of the Model S sedan and Model X sport utility vehicle to its lineup that cost $10,000 less than their previous base prices. The Standard Range Model S starts at $78,490 and offers an estimated 320 miles (515 kilometers) of range, while the Standard Range Model X is priced from $88,490 and goes ...

BLOOMBERG Toyota Motor Corp’s quarterly profit exceeded estimates as improvements in supply of semiconductors and a weak yen helped it capitalise on a global rebound in demand for vehicles. The stock closed at a record high. Operating profit for the three months through June was a record ¥1.1 trillion ($7.7 billion), the world’s No 1 carmaker said in a statement. ...

BLOOMBERG GoTo Group cut its 2023 loss projection after staunching some of the bleeding in the second quarter, taking the Indonesian internet leader closer to its goal of getting into the black after an era of costly expansion. Its shares rose 6.6% in Jakarta, the biggest gain since June. Indonesia’s largest tech company reported second-quarter adjusted loss before interest, taxes, ...

SHARJAH / GULF TIME The leading regional children’s youth film festival, Sharjah International Film Festival for Children and Youth (SIFF) has announced the “Junior Jurors” for 2023. The festival is dedicated to enhancing the media literacy of children and youth, fostering children’s and youth’s creativity and showcasing the very best in filmmaking for, by and about children and young people. ...

BLOOMBERG A period of unusual calm in crypto markets ended abruptly  as the notion of higher-for-longer interest rates sparked a selloff in risk assets like Bitcoin, leading to mass liquidations of bullish bets. The rout pushed Bitcoin from near $29,000 to as low as $25,314 in a 24-hour span before the biggest token recovered slightly in early European trading on ...

BLOOMBERG Stocks slumped, putting a global benchmark on track for the biggest weekly loss since March, as worries about China and higher global interest rates sapped sentiment. US equity futures were indicated lower, building on the selloff that’s stretched across risk assets. Bitcoin slid as much as 8% and oil was set for its first weekly loss since June. The ...