Sales & Marketing news

• Walmart just struck another deal that confirms the death of America's middle class as we know it (WMT)

  13-11-2017 23:00 via feedproxy.google.com
  Walmart is adding Lord & Taylor and its many designer brands to its website.
  The company says it wants to make Walmart.com a "premium fashion destination."
  It's the latest in a series of moves by Walmart designed to attract high-income shoppers.
   
  Walmart is adding Lord & Taylor and its many designer fashion brands to its website, the companies announced Monday.
  The deal is the latest in a series of moves by Walmart designed to target wealthy shoppers, which the retail giant has hi
  
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• Buffalo Wild Wings explodes 28% on report that it has received a takeover offer (BWLD)

  13-11-2017 22:42 via feedproxy.google.com
  Private-equity firm Roark Capital Group has offered to buy Buffalo Wild Wings for $2.3 billion, according to The Wall Street Journal. 
  The news on Monday sent Buffalo Wild Wings shares up by as much as 28% in after-hours trading.
   
  Buffalo Wild Wings shares surged by as much as 28% in extended trading on Monday following a Wall Street Journal report that the company received a takeover offer. 
  The private-equity firm Roark Capital Group offered $2.3 billion for Buffalo
  
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• RBC: Tesla’s semi-truck could give it the ‘biggest bang' for its buck (TSLA)

  13-11-2017 22:32 via feedproxy.google.com
  Tesla announced that it will reveal a big-rig semi-truck trailer in Los Angeles next week.
  The new vehicle could help place it ahead of its competitors, RBC Capital Markets said.
  View Tesla's stock price movements in real time here.
   
  Tesla’s planned unveiling of its new line of semi-trucks may be an easy way for it to leverage its existing technology and capital and give it an edge over the competition, Joseph Spak, an analyst at RBC Capital Markets, said.The commercial ve
  
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• Senate GOP tax bill would increase taxes for 16 million taxpayers in 2019, according to new analysis

  13-11-2017 22:19 via feedproxy.google.com
  The Joint Committee on Taxation estimated 9.1% of taxpayers would receive an increase to their tax bill in 2019 under the Senate's tax bill.
  Based on the JCT's number of taxpayers for 2019, that would mean 16 million taxpayers would see a tax increase that year.
  At the same time, just under 60% of taxpayers would get a cut of $100 or more according to the JCT.A chunk of Americans could actually see their tax bills increase under the Senate GOP tax reform proposal, according to an anal
  
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• The amount of ether frozen in digital wallets is worth $162 million — which is less than initially feared

  13-11-2017 22:06 via feedproxy.google.com
  Last week, a mistake by a novice hacker led to customers of Parity being unable to access the ether they had stored in their digital wallets. 
  Initially, some researchers estimated that as much as $280 million worth of ether could be locked up. 
  Parity now say that the official amount that's frozen is worth around $162 million.
  The company is considering a technique that would essentially unwind the Ethereum blockchain to unfreeze the wallets.
   
  A novice hacker's goof&n
  
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• Roku's stock has more than doubled since its first earnings report — making its founder a billionaire (ROKU)

  13-11-2017 22:06 via feedproxy.google.com
  Roku, a video streaming platform and hardware company, blew past Wall Street estimates in its first earnings report as a public company on Thursday.
  Since then, the stock has more than doubled.
  Founder Anthony Wood, who owns 27.3% of Roku, is now a billionaire. Shares of Roku have skyrocketed 125% in the three days after the streaming-video platform company released its first earnings report as a public company.
  Anthony Wood, the 51-year-old founder and CEO, owns 27.3% of the com
  
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• GE GETS SLAMMED: Here's what you need to know

  13-11-2017 22:02 via feedproxy.google.com
  Stocks inched higher as investors sought out more details around tax reform and the Federal Reserve's pace of interest rate hikes.
  Slight gains in major indexes overshadowed a 7.5% decline in General Electric shares after the company cut full-year 2018 earnings guidance. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all climbed roughly 0.1%.
  First up, the scoreboard:
  Dow: 23,439.70, +17.49, (+0.07%)
  S&P 500: 2,584.84, +2.54, (+0.10%)
  Nasdaq: 6,757.60, +6.66, (+0.10
  
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• One of the few Wall Street analysts bearish on Nvidia reverses course, saying his call 'did not work out' (NVDA)

  13-11-2017 21:56 via feedproxy.google.com
  Shares of Nvidia have skyrocketed this year, which has left those betting against the company hurting.
  One bearish analyst upgraded his outlook on the company and says he got his previous calls wrong.
  Strong performance in the data center and gaming businesses have been a point of pride for Nvidia.
  Watch Nvidia move in real time.Nvidia has been on a crazy upward burn, gaining 109.69% this year thanks to its strength in artificial intelligence and cryptocurrencies. The meteoric ri
  
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• New analysis blows a huge hole in Steven Mnuchin's argument that Trump's tax plan will pay for itself

  13-11-2017 21:32 via feedproxy.google.com
  Treasury Secretary Steven Mnuchin and others have argued that the GOP tax plan will pay for itself.
  A new analysis by the University of Pennsylvania's Wharton School of Business pokes holes in that line of argument.For months, Treasury Secretary Steven Mnuchin has said the GOP's tax code overhaul would pay for itself by leading to larger economic growth. An analysis released Monday pokes holes in that line of argument.
  "Not only will this tax plan pay for itself, but it will
  
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• Trump threatens to pull out of NAFTA, but there's a reason he's probably bluffing

  13-11-2017 21:14 via feedproxy.google.com
  President Donald Trump has talked tough on trade, but concrete actions have been more sporadic. 
  A new report from Pictet suggests Trump is bluffing when he threatens to pull out of NAFTA.
  The analysis is based on the notion that Trump needs a Republican majority that still mostly favors open trade in order to pass tax cut legislation.President Donald Trump’s trade agenda has been at best erratic, at worst counterproductive.On the semi-bright side, the president has no
  
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• Apple is expected to release 3 new iPhones next year — including a supersized iPhone X (AAPL)

  13-11-2017 20:28 via feedproxy.google.com
  Apple will launch three new iPhone models in 2018, a reliable Apple analyst says.
  One of the phones could feature an edge-to-edge LCD screen and TrueDepth facial recognition that costs between $649 and $749.
  Apple is also said to be working on a 6.5-inch iPhone with a design like the iPhone X but with a bigger OLED screen.
  Apple will also launch a successor to the iPhone X with a 5.8-inch OLED screen, the analyst says.Apple will release three new iPhone models in 2018, the KGI Securities analys
  
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• General Electric's turnaround plan has investors dumping the stock (GE)

  13-11-2017 19:06 via feedproxy.google.com
  General Electric's stock dropped as much as 7.1% on Monday after the company outlined its turnaround plan.
  The company's earlier announcement that it would cut its dividend sent shares higher initially, but the stock dropped into negative territory once details around the restructuring emerged.
  GE is looking for a shot in the arm, having fallen 35% year-to-date through the end of last week.General Electric's plan to reconfigure its flailing business is being met with skepticism by inv
  
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• Republicans are kicking their tax reform push into high gear

  13-11-2017 18:52 via feedproxy.google.com
  Both the House and Senate plan to move forward with different versions of the Republican tax bill this week.
  The House is aiming to bring its version of the Tax Cuts and Jobs Act to the floor on Thursday for final passage.
  The Senate Finance Committee is starting the markup of the chamber's version of the TCJA on Monday.It's a make-or-break week for Republicans, as the party tries to speed its massive tax plan through both chambers of Congress in an attempt to
  
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• It looks like Janet Yellen issued a point by point rebuke of Donald Trump — without ever mentioning his name

  13-11-2017 18:08 via feedproxy.google.com
   Outgoing Federal Reserve Chair Janet Yellen received an award for 'ethics in government.'
  Her acceptance speech honored the life of the late Senator Paul Douglas, after whom the prize is named.
  She spoke about transparency, financial disclosure, and consumer protection. Well played, Madam Chair.Janet Yellen, who was not reappointed to the job of Federal Reserve Chair despite a commendable four-year term, gave a speech last week which, let's just say, reads an awful lot like a sho
  
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• It looks as if Janet Yellen issued a point-by-point rebuke of Trump without ever mentioning his name

  13-11-2017 18:08 via feedproxy.google.com
  Outgoing Federal Reserve Board Chair Janet Yellen received an award for "ethics in government."
  Her acceptance speech honored the life of the late Sen. Paul Douglas, after whom the prize is named.
  She spoke about transparency, financial disclosure, and consumer protection.Well played, Madam Chair.
  Janet Yellen, who was not reappointed to the job of Federal Reserve chair despite a commendable four-year term, gave a speech last week that, let's just say, reads an awful lot like a shot at the pres
  
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• L’Oréal’s new CMO on why brands shouldn’t have a digital strategy

  13-11-2017 18:07
  One thing becomes clear when meeting L’Oréal’s new chief marketing officer for Western Europe – he is feeling rather optimistic.
  Stéphane Bérubé arrived in the UK two months ago, having spent 15 years with the business in Canada. He takes over from Hugh Pile, who is currently on sabbatical to help run his family business.
  Having had close relationships with the Canadian media, Bérubé invited some of the trade press into L’Or&eacut
  
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• Chipotle's stock drops after an actor says he 'almost died' after eating at the chain (CMG)

  13-11-2017 17:52 via feedproxy.google.com
  A celebrity reportedly "almost died" after eating Chipotle. 
  The chain's stock fell up to 5.9% on reports of "Supergirl" star Jeremy Jordan's illness. 
  Chipotle denies any link between the chain and the apparent food poisoning. Chipotle's shares dropped after a Broadway star blamed the burrito chain for a recent illness.
  "I, as you can see, am in the hospital and I have fluids in my arm because the food did not agree with me and I almost died," People reported
  
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• Chipotle's stock dropped after an actor said he 'almost died' after eating at the chain (CMG)

  13-11-2017 17:52 via feedproxy.google.com
  A celebrity said he "almost died" after eating Chipotle.The chain's stock fell up to 5.9% on reports of "Supergirl" star Jeremy Jordan's illness.Chipotle denies any link between the chain and the apparent food poisoning.
  Chipotle's shares dropped after a Broadway star blamed the burrito chain for a recent illness.
  "I, as you can see, am in the hospital and I have fluids in my arm because the food did not agree with me and I almost died," People reported that Jeremy Jordan, a Broadway actor
  
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• Qualcomm is going to do whatever it takes to fend off Broadcom (QCOM, AVGO)

  13-11-2017 17:35 via feedproxy.google.com
  Broadcom intensified its hostile bid to buy Qualcomm on Monday, saying it was still interested in buying the company after being rejected.  
  Last week, Broadcom offered to buy Qualcomm in a $105 billion deal that would be the largest-ever in tech. 
  Qualcomm said its rival's offer of $70 per share significantly undervalued the company.
   
  The semiconductor giant Broadcom has intensified its hostile bid to buy Qualcomm.
  A week ago, Broadcom said it
  
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• Trump could do one thing to make the Fed reconsider raising interest rates

  13-11-2017 17:14 via feedproxy.google.com
  Wall Street's high hopes for President Donald Trump's tax plan have been a major driver of the stock market rally, and thus investor confidence. 
  The Federal Reserve's plans to keep raising interest rates in 2018 and 2019 hinge in part on the passage of such a measure, and the short-run fiscal bump it might provide.
  Milton Ezrati, economist at Vested, tells Business Insider the failure of Trump's tax agenda could prompt the Fed to slow the pace of tightening. 
  There’s somet
  
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• There could soon be a new way to bet on the rise of blockchain (NDAQ)

  13-11-2017 17:02 via feedproxy.google.com
  Nasdaq has teamed up with Reality Shares to launch an index tracking companies in the booming blockchain industry.
  Blockchain, the technology underlying cryptocurrencies such as bitcoin and ethereum, has become a popular buzzword on Wall Street as the prices of digital coins and tokens continue to climb. Exchange operator Nasdaq has teamed up with Reality Shares, an investment marketplace, to launch an index to track companies in the red-hot blockchain industry. 
  The smart-b
  
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• Trump weighs in on Republicans' tax bills, possibly throwing a monkey wrench into their plan

  13-11-2017 16:53 via feedproxy.google.com
  President Donald Trump tweeted about the Republican tax plan on Monday.
  Trump said the bill should include the repeal of Obamacare's individual mandate.
  That would raise revenue for the bill, but also complicate the political math.President Donald Trump on Monday weighed in via Twitter on the latest GOP tax plans.
  Trump praised new bills in the House and Senate, called the Tax Cuts and Jobs Act (TCJA), but suggested a few improvements.
  "I am proud of the Rep. House & Senate f
  
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• Alibaba is slipping despite a record-setting Singles Day (BABA)

  13-11-2017 16:52 via feedproxy.google.com
  Singles Day is celebrated in China as an alternative to Valentine's Day.
  Alibaba pulled in more than $25 billion during this year's event.
  Shares are down 0.31% early Monday.
  Watch Alibaba's stock price move in real time here.On Saturday, Chinese shoppers celebrated their romantic independence by spending more than $25.3 billion on Alibaba's e-commerce site during "Singles Day."
  Shares of Alibaba are down 0.31% to $185.84 on the first day of trading following the event.
  For scale, Singles Day w
  
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• Bitcoin retains its crown as crypto king — but issues still hang over the cryptocurrency

  13-11-2017 16:26 via feedproxy.google.com
  Bitcoin crashed more than 25% from Wednesday's all-time high of $7,721 to a low of $5,617 on Sunday, according to data from CoinDesk. 
  Over the weekend, bitcoin appeared to give up market share to bitcoin cash, a clone coin created to improve bitcoin's slower transaction speeds
  Briefly, bitcoin's market cap as a percentage of the total cryptocurrency market dipped below 50%.
  It was trading at $6,544, up 10.9% at 9:40 a.m. ET, according to Markets Insider data.
  After a shaky weeke
  
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• Chevrolet just revealed the most powerful Corvette in history (GM)

  13-11-2017 15:59 via feedproxy.google.com
  The new Corvette ZR1 has a 755-horsepower supercharged V8.
  That's over 100 more horsepower than the Z06 'Vette.
  This is the first ZR1 since the previous version was retired in 2013 for the last generation of 'Vettes.If you thought the Corvette Z06 was a lot of car, get ready to have your world rearranged.
  On Sunday in Dubai, Chevy pulled the cover off the newest, baddest 'Vette: the ZR1.
  "I've never driven a Corvette like this before, and nobody else has either, because there's never been one l
  
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• GE is falling after announcing disappointing guidance (GE)

  13-11-2017 15:32 via feedproxy.google.com
  General Electric is undergoing a number of changes as its new CEO tries to turn the company around.
  Among the changes are a 50% cut to the company's dividend and a reduction in the number of employees.
  The company announced its fiscal year outlook for 2018, which was lower than Wall Street's expectations. 
  Watch GE's stock price move in real time.
  General Electric shares are down 5.03% to $19.47 on Monday after the company announced disappointing earnings guid
  
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• GE is falling after announcing a dividend cut and business restructure (GE)

  13-11-2017 15:32 via feedproxy.google.com
  General Electric is undergoing a number of changes as its new CEO tries to turn the company around.
  Among the changes are a 50% cut to the company's dividend and a reduction in the number of employees.
  The company announced its fiscal year outlook for 2018, which was lower than Wall Street's expectations. 
  Watch GE's stock price move in real time.
  General Electric shares are down 1.66% to $20.15 on Monday after the company announced it would be cutting its div
  
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• Qualcomm rejects Broadcom's record-breaking $105 billion takeover attempt (AVGO, QCOM)

  13-11-2017 15:12 via feedproxy.google.com
  Qualcomm has officially rebuffed Broadcom's acquisition offer, which would mark the biggest-ever deal in the tech industry.
  The company says it's worth more than Broadcom's $70-a-share offer.
  This is just a minor hiccup for Broadcom, which is expecting to now escalate a proxy battle by appealing directly to Qualcomm shareholders.Qualcomm rejected Broadcom's $105 billion acquisition offer on Monday, but the battle has just begun.
  The company's decision to decline what would be the biggest-ever t
  
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• Qualcomm rejects Broadcom's $105 billion takeover attempt, stalling the largest tech deal ever (AVGO, QCOM)

  13-11-2017 15:12 via feedproxy.google.com
  Qualcomm officially rebuffed Broadcom's acquisition offer, which would be the biggest-ever deal in the tech industry.
  The company says it's worth more than the $70 per share offer posed by Broadcom.
  This is just a minor hiccup for Broadcom, which is expecting to now escalate a proxy battle by appealing directly to Qualcomm shareholders.Qualcomm rejected Broadcom's $105 billion acquisition offer on Monday, but the battle has just begun.
  The company's decision to decline what would be the biggest
  
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• General Electric slashes its dividend by 50% (GE)

  13-11-2017 14:52 via feedproxy.google.com
  General Electric's board of directors announced plans to cut the company's dividend by 50% to $0.12 a share.
  The company is said to be considering other cost-cutting measures.This was the first dividend cut by GE since 2009.General Electric's board of directors on Monday announced plans to cut the company's dividend in half to $0.12 a share.
  "We understand the importance of this decision to our shareowners and we have not made it lightly," GE's chairman and CEO, John Flannery, said in the relea
  
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• General Electric just slashed its dividend — and that could save its stock from free-fall (GE)

  13-11-2017 14:25 via feedproxy.google.com
  General Electric announced on Monday that it's cutting its quarterly dividend distribution in half.
  The decision comes at a time when equity investors are rewarding companies that are reinvesting in their own businesses, relative to those that pay dividends and repurchase stock.On the surface, General Electric's decision to slash its quarterly dividend in half would seem to be a move that would alienate shareholders. But the opposite might actually be true.
  Investors have made it known over the
  
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• Brookfield wants to buy mall-owner GGP for $14.8 billion as the retail apocalypse intensifies

  13-11-2017 14:21 via feedproxy.google.com
  Brookfield Asset Management said Monday that it proposed to buy mall owner GGP Inc. for $14.8 billion. 
  Brookfield currently owns about 34% of GGP and wants to buy the rest of the company for $23 a share. 
  The Canadian asset manager would gain GGP's class A retail properties in urban centers at a time when foot traffic is declining because more people are shopping online. 
  GGP has a special committee that's looking into the proposal with Goldman Sachs as its financ
  
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• What a $500,000 home looks like in 15 major cities across America

  13-11-2017 14:01 via feedproxy.google.com
  The price per square foot for homes can vary drastically from city to city.
  You can get a lot more space in Dallas or Chicago than in Boston or San Francisco.
  To compare home size across housing markets, real estate listing site Trulia pulled listings in the $500,000 range for the 15 biggest US metros.
   
  Space is hard to come by in some of America's most popular housing markets.
  Homebuyers in Boston and San Francisco, for instance, are paying over $1,000 per square foot right now, while bu
  
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• Vote now for your favourite Christmas ad

  13-11-2017 11:51
  The post Vote now for your favourite Christmas ad appeared first on Marketing Week.
  
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• Revealed: Marketing Week readers’ favourite Christmas ad of 2017

  13-11-2017 11:51
  The post Revealed: Marketing Week readers’ favourite Christmas ad of 2017 appeared first on Marketing Week.
  
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• YouTube, WPP, BBC: Everything that matters this morning

  13-11-2017 08:30
  YouTube teams up with Ticketmaster for ecommerce first
  Music fans will now be able to buy tickets to gigs of artists while watching their music videos on YouTube.
  In the US, YouTube has teamed up with Ticketmaster so that acts can add a list of tour dates and ticket links during relevant moments in videos.
  In a blog post, a YouTube spokesperson said: “Our massive fan base paired with Ticketmaster’s global roster of concerts and security of verified tickets means we can easily connect
  
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• Tesco, Co-op, British Gas: Everything that matters this morning

  13-11-2017 08:30
  Tesco’s £3.7bn Booker deal approved
  Tesco’s £3.7bn takeover of food wholesaler Booker, owner of convenience store brands Londis and Budgens, has been provisionally cleared by the UK’s Competition and Markets Authority (CMA)
  The competition regulator said the deal, which will make Tesco the UK’s largest food business, could actually increase competition in the wholesale market and reduce prices for shoppers.
  Booker, which has 441,000 catering customers and 641,
  
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• John Lewis, Asda, Just Eat: Everything that matters this morning

  13-11-2017 08:30
  John Lewis Moz the Monster Christmas ad accused of plagiarism
  Children’s author and illustrator Chris Riddell has accused John Lewis of ripping off his 1986 book Mr Underbed for its Moz the Monster Christmas ad.
  He said he was “struck by the similarity of the concept” and has taken to social media to share his grievance and show the likeness of the two characters, declaring “John Lewis helps themselves to my picture book”. So
  
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• Disney, Deliveroo, Twitter: Everything that matters this morning

  13-11-2017 08:30
  Disney reveals brand sponsors for Star Wars: The Last Jedi
  Disney’s Lucasfilm, which produces the Star Wars films, has announced the first raft of sponsors it will be working with to promote the new film coming out later this year.
  The 10 brands are: EDF Energy, Santander, ComparetheMarket.com, O2 Priority, Philips, Wilkinson Sword, Duracell, Volvic, Cereal Partners Worldwide and Coca-Cola Zero Sugar.
  Each brand will launch a promotional campaign in support of Star Wars: The Last Jedi, ope
  
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• Alibaba, Co-op, Asda: Everything that matters this morning

  13-11-2017 08:30
  Alibaba breaks own Singles’ Day sales record
  Alibaba has hit record sales for China Singles’ Day of $25.4bn (£19.2bn), surpassing last year’s high within just 13 hours. Some $1bn (£758m) alone was spent in the first two minutes after midnight on 11 November, with customers spending 40% more on Alibaba than last year.
  Held annually on 11 November, Singles’ Day is now the world’s largest online shopping event, exceeding the combined sales for Black Friday
  
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• Alibaba's shopping holiday that's bigger than Black Friday and Cyber Monday combined just brought in $25 billion — this is what it looked like (BABA)

  13-11-2017 07:52 via feedproxy.google.com
  Ever since its early days as a student event in the 1990s, November 11 was called "Singles' Day" in some parts of China; an occasion during which individuals would try and find a partner.
  Now, Alibaba has dubbed it "Double 11" — a term the company has trademarked and transformed into the world's largest shopping event. During this year's Double 11, taking place on November 11, 2017, Alibaba sold $25.3 billion worth of merchandise.
  Created in 2009 as an "Anti-Valentine’s Day," the "1
  
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• Major brands worry about digital skills gap

  13-11-2017 01:00 via warc.com
  BRUSSELS: Artificial intelligence, programmatic marketing and the Internet of Things are the main areas where leading global brands fear they may have insufficient skills and capabilities to deal with in the future, according to a new survey.The...
  
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• Kentucky Fried Chicken's brand sweet spot

  13-11-2017 01:00 via warc.com
  ORLANDO, FL: Kentucky Fried Chicken, the quick-service restaurant chain, has enjoyed a consistent pattern of growth having reinvigorated the brand, and returned Colonel Sanders, its iconic founder, to the core of its messaging.Kevin Hochman, US...
  
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• Flipkart launches its own smartphone

  13-11-2017 01:00 via warc.com
  BENGALURU: Flipkart, India’s largest e-commerce firm, is due to launch its own value-for-money smartphone this Wednesday to take on established players, such as Samsung, Xiaomi, Oppo and others.Called Capture+, it is produced under...
  
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• Facebook 'exploits' human vulnerability

  13-11-2017 01:00 via warc.com
  PHILADELPHIA: Sean Parker, the billionaire founding president of Facebook, has strongly criticised the social network for “exploiting a vulnerability in human psychology”.The Facebook pioneer also described it as a...
  
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• Aussie magazine publishers need to speak up

  13-11-2017 01:00 via warc.com
  SYDNEY: Despite falling circulations, Australian magazine publishers still have quite a lot going for them in terms of readership profiles and purchase influence, but they are failing to persuade agencies of their case, an industry figure has...
  
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• Amazon Prime links up with Manchester City

  13-11-2017 01:00 via warc.com
  MANCHESTER: Amazon is making its first foray into the globally popular and lucrative English football market with plans to produce a behind-the-scenes TV series following Manchester City FC through its 2017-18 season.Manchester City, which...
  
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• 84% of US firms are ready for GDPR compliance

  13-11-2017 01:00 via warc.com
  BRUSSELS/PORTSMOUTH, NH: With just over six months to go before the European Union’s General Data Protection Regulation (GDPR) comes into force, it appears US companies are better prepared than their European counterparts.According to a...
  
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• $34 billion hedge fund Elliott Management declares all the ingredients for a crash are there

  13-11-2017 00:33 via feedproxy.google.com
  Elliott Management, one of the world's largest hedge funds, with $34 billion, told clients the ingredients for a market crash were all in place.
  The hedge fund was founded by billionaire Paul Singer, a big GOP donor.
  The firm has been prepping for a significant market event — raising $5 billion in about 24 hours earlier this year."Markets are in a kind of dreamland."
  That's according to Elliott Management, which manages $34 billion and is one of the world's largest hedge funds. The firm,
  
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