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Ariana McLemore With EU regulations looming, what's at stake for China-based e-commerce giant Shein? {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} NEW YORK — Shein's vast selection of $5 shirts, $20 dresses and $15 shoes could face tougher trademark scrutiny under new EU rules that tighten oversight of intellectual property rights. China-founded e-commerce giant Shein is moving toward an IPO in London. EU digital rules that take effect at the end of August will require Shein to prevent listings of products that infringe intellectual property rights and prohibit listing or selling counterfeit goods to its 108 million monthly active users in the region.…
Crocs branded Shopify page on Target Plus (Image: Target). Target is looking to accelerate its online growth through partnerships that will bring new brands to its third-party online marketplace, Target+.The discount giant has partnered with global commerce platform Shopify to offer a curated selection of popular Shopify merchants and their products at Target Plus. Additionally, Target is set to partner with Shopify in the coming months to become the first mass retailer to sell products from select merchants in its brick-and-mortar stores. The companies did not disclose financial terms of the transaction.Specifically, Target Plus' expanded product lineup will include products…
Welcome to AI News Today, your daily roundup of the biggest happenings in the AI industry. US investment restrictions target China's AI tech sector To strengthen national security, the U.S. Treasury Department has introduced new investment restrictions focused on China's AI and advanced technology sectors. These measures are intended to limit the benefits that U.S. investments can bring to potentially hostile countries and prevent the development of sensitive technologies that could threaten U.S. interests. For more information, please visit the TDR website. US invests $250,000 in AI to predict wildfires The US has invested $250,000 to develop AI tools to…
Investors should add this much smaller company to their watchlist. Few companies are as dominant as this one. Amazon (AMZN -0.69%) That's right: the tech giant is now worth nearly $2 trillion. This huge figure is due to the skyrocketing value of its stock, which has soared 1,000% in the past 10 years and 7,400% in the past 20 years. this “The Magnificent Seven”The stock has rewarded shareholders in an incredible way, but investors may want to consider other e-commerce businesses that are currently off the radar and may be better buying opportunities than Amazon. Amazon's dominance cannot be overstated.…
BrighterMonday Kenya Wins Best E-Commerce Recruiting Platform at 2024 AwardsThe company attributes the achievement to its dedicated staff, innovation and investments in artificial intelligence.He noted that AI promises more efficient, personalized and safer customer experiences online.BrighterMonday, a Kenyan e-recruitment platform, won the top award for Best Online Recruiter.Bright Monday CEO Chris Otundo (left) posed for a photo while company executives, led by head of marketing and communications Eric Wafula, accepted the award. Photo: Bright Monday.Source: UGCThe company won the Best E-Recruitment Platform award at the Kenya E-Commerce Awards 2024. The awards ceremony, held at a hotel in Nairobi, was attended…
Naver Shopping CEO Kim Ju-gwang (third from left) and Korea Chamber of Commerce and Industry (KCCI) Chairman Jang Geun-moo (fourth from right) pose for a photo with others after a signing ceremony at the KCCI office building in central Seoul on Monday. [KCCI] The Korea Chamber of Commerce and Industry (KCCI) and Naver will develop a platform that will systematically manage product information registered by Korean e-commerce businesses and simplify the process of comparing purchasing options for consumers. The Korea Chamber of Commerce and Industry and Naver signed a memorandum of understanding on Monday to standardize product information circulating online…
SoftBank founder and CEO Masayoshi Son has claimed that artificial superintelligence (ASI) could become a reality within the next decade. Speaking at SoftBank's annual shareholders meeting in Tokyo on June 21, Son painted a picture of a future in which AI could far surpass human intelligence and revolutionize our lives. Son claimed that by 2030, AI could be “1 to 10 times smarter than humans,” and by 2035, it could reach an astonishing “10,000 times” human intelligence. The SoftBank CEO made a clear distinction between artificial general intelligence (AGI) and ASI: according to Son, AGI is the equivalent of a…
SoftBank founder and CEO Masayoshi Son has claimed that artificial superintelligence (ASI) could become a reality within the next decade. Speaking at SoftBank's annual shareholders meeting in Tokyo on June 21, Son painted a picture of a future in which AI could far surpass human intelligence and revolutionize our lives. Son claimed that by 2030, AI could be “1 to 10 times smarter than humans,” and by 2035, it could reach an astonishing “10,000 times” human intelligence. The SoftBank CEO made a clear distinction between artificial general intelligence (AGI) and ASI: according to Son, AGI is the equivalent of a…
Apple announced on Friday that it would block the highly anticipated Apple Intelligence AI feature, iPhone Mirroring, and SharePlay screen sharing for EU users. While not entirely unexpected, the decision highlights the growing tension between rapid technological advances and the EU's stringent regulatory framework, particularly the Digital Markets Act (DMA) and General Data Protection Regulation (GDPR). From the EU's perspective, this delay is both a victory and a challenge. It demonstrates the effectiveness of regulations that protect user privacy and promote fair competition. The DMA and GDPR have forced tech giants to pause and rethink their approach, potentially resulting in…
(Bloomberg) — Internet investment giant Prosus and its parent company Naspers AG reported their e-commerce business turned a profit for the first time as new Chief Executive Officer Fabricio Broisi prepares to take over in July.Most read articles on BloombergThe group's e-commerce business, excluding its Tencent Holdings stake, posted an operating profit of $38 million for the year ended March 31 after successfully expanding after years of investment, it said in a statement on Monday. That was up from a $413 million loss in fiscal 2023 for the unit, whose portfolio includes companies ranging from Brazil's iFood to India's PayU.The…