Amazon, Flipkart seek rollback of new Indian tax on online sellers

Amazon, Flipkart seek rollback of new Indian tax on online sellers
NEW DELHI (Reuters) – Amazon and Walmart’s Flipkart are among online retailers demanding that India scale back a proposed tax on third-party sellers on their platforms, saying the burden of compliance will hurt the fledgling industry, according to documents seen by Reuters. FILE PHOTO – A shipment moves on a conveyor belt at an Amazon Fulfillment Centre (BLR7) on the... Read More

Amazon, Flipkart challenge new Indian tax on online sellers

Amazon, Flipkart challenge new Indian tax on online sellers
NEW DELHI (Reuters) – Amazon and Walmart’s Flipkart are among online retailers demanding that India scale back a proposed tax on third-party sellers on their platforms, saying the burden of compliance will hurt the fledgling industry, according to a document seen by Reuters. FILE PHOTO – A shipment moves on a conveyor belt at an Amazon Fulfillment Centre (BLR7) on... Read More

Exclusive: Venezuela’s PDVSA steps up fuel shipments to Cuba as shortages bite

Exclusive: Venezuela’s PDVSA steps up fuel shipments to Cuba as shortages bite
MEXICO CITY/HAVANA (Reuters) – Venezuela’s state energy firm PDVSA has been shipping more oil this month to close ally Cuba, as tighter U.S. sanctions have worsened fuel shortages on the Caribbean island, according to sources and internal company documents seen by Reuters. FILE PHOTO – The corporate logo of state oil company PDVSA is seen on a tank at an... Read More

The truth about ‘greedy’ seniors and the ‘war’ between generations

The truth about ‘greedy’ seniors and the ‘war’ between generations
CHICAGO (Reuters) – Former U.S. senator Alan Simpson summarized the argument well: seniors fighting Social Security benefit cuts were nothing more than “greedy geezers” stealing from young people “who are going to get gutted.” The Wyoming Republican’s memorable phrase from 2012 is a good example of the colorful language of so-called intergenerational warfare – pitting generations against one another with... Read More

Wall Street slips as coronavirus fears mount

Wall Street slips as coronavirus fears mount
(Reuters) – Wall Street lost ground on Thursday, backing away from record highs as investors digested new coronavirus developments and mixed corporate earnings. Technology shares led all three major U.S. stock averages lower, with the blue-chip Dow suffering the largest percentage loss. Hopes that the coronavirus epidemic could be on the wane were soured by a spike in fatalities, with... Read More

S&P 500, Nasdaq turn positive amid mixed coronavirus news

S&P 500, Nasdaq turn positive amid mixed coronavirus news
(Reuters) – The S&P 500 reversed its losses on Thursday as investors weighed mixed news on the coronavirus and a spate of corporate earnings. While a drop in Cisco Systems Inc (CSCO.O) shares helped keep the blue-chip Dow .DJIin the red, the S&P 500 .SPX and the Nasdaq .IXICrebounded and were both on track to eke out their fourth consecutive... Read More

Rents lift U.S. core inflation; weekly jobless claims rise slightly

Rents lift U.S. core inflation; weekly jobless claims rise slightly
WASHINGTON (Reuters) – U.S. underlying consumer prices picked up in January, while the number of Americans filing claims for unemployment benefits rose slightly last week, suggesting the economy was stable enough for the Federal Reserve to keep interest rates on hold this year. FILE PHOTO: A home for sale is seen in Santa Monica, California, U.S., March 21, 2017. REUTERS/Lucy... Read More

Alibaba warns of drop in e-commerce revenues due to coronavirus

Alibaba warns of drop in e-commerce revenues due to coronavirus
(Reuters) – Alibaba Group Holding Ltd warned of a drop in revenues at its key e-commerce businesses this quarter as the coronavirus sweeping China hits supply chains and deliveries. FILE PHOTO: The logo of Alibaba Group is seen during Alibaba Group’s 11.11 Singles’ Day global shopping festival at the company’s headquarters in Hangzhou, Zhejiang province, China, November 10, 2019. REUTERS/Aly... Read More

Rents lift U.S. core inflation; weekly jobless claims rise modestly

Rents lift U.S. core inflation; weekly jobless claims rise modestly
WASHINGTON (Reuters) – U.S. underlying consumer prices picked up in January, while the number of Americans filing claims for unemployment benefits rose slightly last week, suggesting the economy was stable enough for the Federal Reserve to keep interest rates on hold this year. FILE PHOTO: A home for sale is seen in Santa Monica, California, U.S., March 21, 2017. REUTERS/Lucy... Read More