Alistair's Feed
Nov 8, 2012

Amazon unveils wine marketplace in some U.S. states

SAN FRANCISCO, Nov 8 (Reuters) – Amazon.com Inc
unveiled a new online wine marketplace on Thursday, in the
company’s second attempt to crack a sector curtailed by a tangle
of complex regulations.

Amazon Wine launched more than 1,000 wines from wineries in
the United States, including Francis Ford Coppola, Hall, Mark
Ryan, Eden Canyon, Pepper Bridge and Roadhouse.

Nov 6, 2012

Amazon’s offers monthly option on Prime, challenging Netflix

SAN FRANCISCO (Reuters) – Amazon.com Inc is testing a new monthly option for its popular Prime video-streaming service as the world’s largest Internet retailer steps up competition with Netflix Inc.

Prime typically costs $79 a year in the United States for free two-day shipping, free video streaming and access to Amazon’s Kindle e-book lending library. The company is now offering the service for $7.99 a month on its website, which works out to $95.88 a year, but at that rate it can be purchased strictly on a month-to-month basis.

Nov 1, 2012

Customers forcing changes at PayPal

SAN FRANCISCO (Reuters) – A backlash by some customers who have seen PayPal freeze their funds, sometimes for weeks at a time, is forcing the payments unit of eBay Inc (EBAY.O: Quote, Profile, Research, Stock Buzz) to change its anti-fraud policies.

PayPal is testing new, relaxed policies that may expose the dominant online payment service to more risk as it tries to tackle an issue that has dented its reputation.

Nov 1, 2012

PayPal enters the holiday price-matching fray

SAN FRANCISCO (Reuters) – PayPal launched a price-matching offer on Thursday, following similar moves by retailers including Target Corp, as the payments giant tries to encourage more shoppers to use its service this holiday season.

If consumers purchase products with PayPal and the items are advertised for lower prices by any merchant within 30 days, PayPal said it will reimburse users the difference.

Oct 31, 2012

Groupon shares drop after Sandy hit U.S. merchants

SAN FRANCISCO (Reuters) – Groupon Inc shares fell more than 8 percent on Wednesday, matching a record low of $4 at one point, on concern Hurricane Sandy will temporarily dent demand for the company’s daily deals.

The U.S. Northeast is beginning a recovery that may take awhile, after the historic storm crippled transportation, knocked out power for millions and killed at least 64 people with a massive storm surge that caused epic flooding.

Oct 31, 2012

Hurricane Sandy wallops Internet commerce just as hard

SAN FRANCISCO, Oct 30 (Reuters) – From Fab.com to Amazon.com
Inc and eBay Inc, e-commerce companies
scrambled on Tuesday to get goods to buyers on time after
Hurricane Sandy tore a swathe of destruction across the U.S.
northeast.

The storm — which severed power to warehouses and offices,
ripped up rails and roads and shuttered airports — challenged
the notion that Internet retailers might benefit from problems
at store chains exposed to the elements.

Oct 29, 2012

PayPal cutting jobs as part of major reorganization

SAN FRANCISCO, Oct 29 (Reuters) – PayPal is cutting about
325 jobs as part of a major reorganization by its new president,
David Marcus, designed to regain an innovative edge and head off
rising competition.

PayPal, the online payment pioneer owned by eBay Inc
, said on Monday the full-time jobs would be eliminated
as it combines nine product-development groups into one. The
company is also cutting about 120 contractors.

Oct 29, 2012

PayPal to cut about 325 jobs in major reorganization

SAN FRANCISCO (Reuters) – PayPal is cutting about 325 jobs as part of a major reorganization by its new president, David Marcus, designed to regain an innovative edge and head off rising competition.

PayPal, the online payment pioneer owned by eBay Inc, said on Monday the full-time jobs would be eliminated as it combines nine product-development groups into one. The company is also cutting about 120 contractors.

Oct 27, 2012

Star Silicon Valley analyst felled by Facebook IPO fallout

SAN FRANCISCO (Reuters) – The firing of Citigroup stock analyst Mark Mahaney on Friday in the regulatory fallout from Facebook Inc’s initial public offering was greeted with shock and dismay in Silicon Valley, where Mahaney was a well-known and well-liked figure.

“Pretty shocked,” was the reaction of Jacob Funds Chief Executive Ryan Jacob, who described Mahaney as one of the most respected financial analysts covering the Internet industry.

Oct 26, 2012

Citi fined $2 million over Facebook IPO, fires two analysts

BOSTON/SAN FRANCISCO (Reuters) – Citigroup fired its top Internet analyst, Mark Mahaney, and paid a $2 million fine to a Massachusetts regulator to settle charges that the bank improperly disclosed research on Facebook IPO and information on other tech companies.

It was the first formal charge involving an underwriter’s disclosure of sensitive financial information ahead of the social media company’s $16 billion initial public offering in May. Lead underwriter Morgan Stanley has come under criticism for revealing revised Facebook Inc earnings and revenue forecasts to select clients on conference calls ahead of the IPO, leaving the rest of the investing public in the dark.