Tony Hsieh, retired Zappos CEO, dead at 46

Tony Hsieh, retired Zappos CEO, dead at 46

Tony Hsieh, the former CEO of online shoe retailer Zappos.com, has died. He was 46. He passed away Friday in Connecticut, according to a statement from DTP Companies, an investment firm he founded in Las Vegas. A lawyer for Hsieh told reporters he had died from injuries he sustained in a house fire. His exact … Read more

Wall Street gains, Nasdaq hits record high as holiday shopping begins

Wall Street gains, Nasdaq hits record high as holiday shopping begins

Wall Street stocks advanced, with the Nasdaq closing at a record high, on Friday in a holiday-shortened week as retailers kicked off the year-end shopping season amid record COVID-19 hospitalizations. The Nasdaq outperformed as investors favored tech-related, market-leading stocks that have fared well during the pandemic, while economically sensitive cyclical stocks weighed. All three indexes … Read more

Facebook mistakenly bans some small businesses ads

Facebook mistakenly bans some small businesses ads

Facebook has mistakenly blocked the advertising of some small businesses as it relies more heavily on artificial intelligence to police its platform, according to a report. Bloomberg reported Friday that errors made by AI algorithms looking to rid Facebook of offensive ads has caused already struggling businesses to miss out on online sales opportunities. For … Read more

Topshop retail empire of tycoon Philip Green may die amid COVID-19

Topshop retail empire of tycoon Philip Green may die amid COVID-19

The retail empire of tycoon Philip Green, which owns well-known British fashion chains like Topshop, appears to be on the brink of collapse following the economic shock of the coronavirus pandemic. In another blow to the British retailing industry in the run-up to the crucial Christmas trading period, Arcadia Group said Friday it is working … Read more

Online holiday shopping expected to hit records amid COVID-19

Online holiday shopping expected to hit records amid COVID-19

Holiday spending online is expected to reach record levels this year as consumers steer clear of stores and shopping malls because of COVID-19. Web-based spending on Thanksgiving reached $5.1 billion, a 21-percent increase over last year, according to Adobe, a data analytics company that tracks visits to US retail web sites. Black Friday spending online … Read more

Universal’s ‘The Croods’ has $2M box office debut amid pandemic

Universal’s ‘The Croods’ has $2M box office debut amid pandemic

Universal Pictures’ release of “The Croods: A New Age” logged $2 million in ticket sales at its opening, a paltry sum by industry standards that nevertheless marked the second-best box office debut during the pandemic. The Wednesday debut of the DreamWorks Animation-produced sequel about a prehistoric family was second only to Disney’s $3.1 million debut … Read more

Amazon to give holiday bonuses after ‘turkey vouchers’ flap

Amazon to give holiday bonuses after 'turkey vouchers' flap

Amazon is handing out holiday bonuses to its warehouse workers companywide, just days after employees griped about getting “turkey vouchers” ahead of Thanksgiving that were worth as little as $10. The e-tailing giant will give $300 to full-time employees working on the front lines, while part-time workers will receive $150. “As we head into the … Read more

Gamers desperate for PlayStation 5 form long lines

Gamers desperate for PlayStation 5 form long lines

Hordes of gamers desperate to snag a PlayStation 5 poured into malls and shopping centers nationwide on Black Friday in hopes of snagging the elusive console. Shoppers lined up outside stores overnight with the goal of being near the front of the line before the limited inventory each store received sold out. Since preorders went … Read more