What it would take for Walmart to catch Amazon in e-commerce
When it comes to brick-and-mortar retail, Walmart is king. It's the largest private sector employer in the U.S. and 90% of Americans live within 10 miles of one of its more than 4,700 U.S. stores.
In e-commerce, however, Amazon is the behemoth, with a vastly bigger inventory, millions of third-party sellers and 38.7% of market share compared with Walmart's 5.3%.
As the coronavirus pandemic pushes more shoppers online, Walmart is now taking big steps to catch Amazon in e-commerce, from partnering with Instacart to preparing to launch a membership service called Walmart+ as a competitor to Amazon Prime.
Watch the video for a detailed look at all the ways Walmart is trying to catch Amazon in the world of online shopping.
U.S. Says It Seized Cryptocurrency From Three Terrorist Groups
The Trump administration dismantled digital campaigns by al-Qaeda and other other terrorist groups that used social media to obtain cryptocurrency for carrying out terrorist attacks, the Justice Department said on Thursday.
The U.S. seized millions of dollars and more than 300 cryptocurrency accounts used by al-Qaeda; Hamas’s military wing, the al-Qassam Brigades; and the Islamic State of Iraq and the Levant, or ISIS.
“These actions represent the government’s largest-ever seizure of cryptocurrency in the terrorism context,” the Justice Department said in a statement.
“The action demonstrates how different terrorist groups have similarly adapted their terror finance activities to the cyber age,” the department said. “Each group used cryptocurrency and social media to garner attention and raise funds for their terror campaigns.”
WHO says there's 'no evidence' the coronavirus is being transmitted by food
The World Health Organization said Thursday there is "no evidence" the coronavirus is being transmitted through food.
Researchers in China are studying the issue, and the international agency is tracking their findings, Dr. Mike Ryan, executive director of the WHO's emergencies program, said during a press conference at the agency's Geneva headquarters. But right now "there is no evidence that food or the food chain is participating in the transmission of this virus," he said.
"People should not fear food, or food packaging or processing or delivery of food. Food is very important. And I would hate to think that we would create an impression that there's a problem with our food or there's a problem with our food chain. We're under enough pressure as it is," he said.
Insurgency, Virus Threaten 10.6 Million in Northeast Nigeria
At least 10.6 million people in Nigeria’s northeast urgently need aid as a combination of Covid-19 restrictions and increasing insurgent attacks put the civilian population in peril, according to the United Nations.
“This is roughly the population of Belgium and twice the population of Norway,” Edward Kallon, the UN resident coordinator in Nigeria, told reporters Thursday. “At the same time as we are fighting the pandemic, I have been shocked, saddened and outraged by the brutal attacks targeting civilians, including aid workers.”
Each year since the Boko Haram Islamist insurgency started in the region in 2009, an additional one million people are being made food insecure, said Kallon. Almost 60,000 people have fled their homes since January, with at least 1.9 million people in internally displaced camps, where most sleep in the open, the UN said.
The Islamist militants, some factions of which are aligned to Islamic State, are conducting a violent campaign to impose their version of Islamic law on Africa’s most populous country of more than 200 million people. The government estimates that more than 30,000 people have died in the 11 years of the conflict.
China's Confucius Institutes must register as foreign missions in US: Pompeo
WASHINGTON (REUTERS) – The United States said on Thursday (Aug 13) Chinese government-funded cultural centres at US universities would be required register as foreign missions, the latest sign of the deteriorating relationship between Washington and Beijing.
US Secretary of State Mike Pompeo, in a statement, said the move followed a conclusion that the so-named Confucius Institutes are “an entity advancing Beijing’s global propaganda and malign influence campaign on US campuses and K-12 classrooms.”
Stock Alert: Varex Imaging Falls To New 52-week Low After Q3 Loss, Outlook
Shares of Varex Imaging Corp. (VREX) are losing more than 23 percent or $3.78 in Thursday’s morning trade at $12.22, after earlier falling to a new 52-week low of $11.28 following weak third-quarter results.
Wednesday, the X-ray imaging components maker reported third-quarter attributable net loss that widened to $28.3 million or $0.73 per share from $1.4 million or $0.04 per share in the year-ago period. Adjusted loss was $0.20 per share, compared to adjusted earnings of $0.24 per share last year. Revenue declined to $171.2 million from $196.7 million in the prior-year period.
For the fourth quarter, Varex expects revenues in a range of $155 million to $170 million. On average, analysts polled by Thomson Reuters expect the company to report revenues of $177.16 million for the quarter. Analysts’ estimates typically exclude special items.
Varex Imaging has traded in a range of $11.28 to $33.00 in the past 52 weeks.
Jeff Bezos Sells About $3 Bln Of Amazon Stock
Jeff Bezos, the founder and CEO of Amazon.com Inc. (AMZN), has sold $3.1 billion worth stock in the online retail company, according to latest filings.
According to the filings with Securities and Exchange Commission, Bezos sold nearly 1 million shares worth $3.1 billion. After taxes, the world’s richest man will take home about $2.4 billion. Forbes estimates Bezos current net worth to be at least $188 billion.
The latest share sale leaves him with 54.5 million shares worth roughly $174.64 billion at the current market price. Previously, in February, Bezos had sold a similar large amount of Amazon stock worth $1.7 billion.
The stock sale comes at a time when the company’s shares have surged more than 73% this year.
In 2017, Bezos had revealed that he would be selling $1 billion worth of shares every year to fund Blue Origin, his space exploration company.
Meanwhile, last week, Amazon reported a second-quarter profit that doubled from a year ago, driven by revenues growth. Both earnings and revenues for the quarter trumped estimates. Amazon’s sales for the quarter increased 40% to $88.91 billion from $63.40 billion last year, with North America up 43 percent and international sales up 38 percent.