Amazon to Invest Extra $2 Billion in India as E-Commerce Race Heats Up

Amazon shipping warehouse | Source: Reuters

Amazon.com Inc. on Wednesday said it will invest a further $2 billion in India just a day after the country’s largest e-tailer Flipkart attracted $1 billion of fresh funds, raising the stakes in a nascent but fast-growing e-commerce sector.

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Millennials Shunning Malls Speed Web Shopping Revolution

Millennials prefer shopping online | Source: Lawrence Randall

NEW YORK, United States — CJ Chu is a retailer’s nightmare. The 24-year-old associate for a private-equity firm does “99 percent” of his shopping online — even toothpaste. He’d rather buy groceries on the Web than walk to the supermarket.

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India Likely to Announce Foreign Investment in E-Commerce Next Month

Source: Reuters

NEW DELHI, India — Prime Minister Narendra Modi's government could allow foreign direct investment in India's e-commerce sector as early as next month, paving the way for global online retailers such as Amazon to expand their business, four people with knowledge of the matter told Reuters.

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EBay Forecasts Sales That May Miss Estimates Amid Amazon Rivalry

Ebay offices | Source: David Paul Morris/Bloomberg

SAN JOSE, United States — The world’s biggest online marketplace said sales in the current period will be $4.33 billion to $4.43 billion. Profit before certain items will be 67 cents to 69 cents a share. Analysts on average projected revenue of $4.4 billion and profit of 70 cents, according to data compiled by Bloomberg.

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