Category Archives: E-commerce

Crypto reaps political rewards after spending big to boost Trump

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America’s biggest crypto companies are riding high. Plus, can the left reclaim techno-optimism?

Hello, and welcome to TechScape. In this week’s edition, the crypto industry’s political investments pay off in spades, the left attempts to reclaim an optimistic view of our shiny technological future, and your memories of Skype.

SpaceX’s Starship explodes in second failure for Elon Musk’s Mars program

Musk tells Republicans he isn’t to blame for mass firings of federal workers

Musk survives as fellow of Royal Society despite anger among scientists

White House to overhaul $42.5bn Biden-era internet plan – probably to Musk’s advantage

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US rise of cryptocurrency and fall of regulation pose ‘profound risks’ – report

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Center for Political Accountability, which advocates for corporate disclosure, warns of fallout from Trump’s efforts

A new report warns of “profound risks” in American politics as cryptocurrency companies increase their political spending and Donald Trump oversees regulatory retreat while promising to create a “crypto strategic reserve”.

The situation “illustrate[s] the profound risks that unchecked corporate political spending presents, particularly within the volatile and often unpredictable cryptocurrency industry”, reads the report, from the Center for Political Accountability (CPA), a non-profit that advocates for corporate political disclosure.

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Argentina opposition calls for impeachment of Javier Milei after cryptocurrency collapse

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President endorsed $Libra crypto token on Friday before it collapsed, leading some to call it a financial ‘rug pull’

Opposition politicians in Argentina have called for the impeachment of president Javier Milei after he touted a cryptocurrency which quickly collapsed and reportedly led to millions of dollars in losses this weekend.

Milei endorsed the little-known cryptocurrency token $Libra on Friday evening, announcing on X that the project was “dedicated to boosting the growth of the Argentine economy by funding small businesses and entrepreneurs”. His post linked to a website where the digital coin could be bought, the domain name of which included Milei’s popular catchphrase “long live freedom”.

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UK marketplace sellers face ‘second Brexit’ hit from Trump’s US import rules

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End of ‘de minimis’ policy for Chinese goods also expected to hit bigger fashion retailers such as Asos and Boohoo

Many UK-based independent sellers on marketplaces such as eBay and Amazon could suffer a significant hit to US sales from planned changes to import rules under Donald Trump, with experts comparing the impact to a second Brexit.

The new rules, which mean all parcels originating or made in China and being sold into the US must pay import duty – of as much as 15% on fashion items – and an additional 10% tariff, are also expected to impact bigger online clothing retailers such as Asos and Boohoo.

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EU to tighten checks on goods sold by sites such as Shein and Temu

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European Commission also urges EU lawmakers to phase out exemption on customs duties for parcels under €150

Parcels sent from China by online retailers such as Shein and Temu will face strict new customs controls as part of a crackdown by the European Commission on “dangerous products” flooding the EU market.

Brussels officials also urged EU lawmakers to phase out the exemption on customs duties that is allowed for parcels under €150 (£125), which enables foreign suppliers to sell cheap goods in the bloc without paying the tax.

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Bitcoin hits new record high, dollar dips ahead of Trump inauguration – business live

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Bitcoin rises by 4% past $109,000, reversing earlier losses; Donald Trump meme coin price tanks after wife Melania also launches token

The UK chancellor, Rachel Reeves, will travel to the World Economic Forum’s annual meeting in Davos this week in the hope of convincing some of the world’s largest companies to invest, with allies saying she will use spending cuts rather than further tax increases to meet her own fiscal rules.

At the same time, the Treasury is considering a push to cut the benefits bill, in a move that is causing nervousness among Labour MPs.

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City regulators to start oversight of tech firms that provide ‘critical’ services to UK

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New powers come amid concerns that cyber-attacks and outages could put the country’s financial stability at risk

City regulators will begin cracking down in the new year on tech firms providing “critical” services to UK banks amid concerns that cyber-attacks and outages at companies such as Google or Amazon could put the country’s financial stability at risk.

From 1 January, the Bank of England and the Financial Conduct Authority will be handed powers to regulate companies that are becoming a crucial part of the day-to-day operations of the increasingly digital banking and payments sector.

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Crypto entrepreneur eats banana art he bought for $6.2m

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Conceptual work created by Italian artist Maurizio Cattelan was sold at auction in New York last week

The cryptocurrency entrepreneur Justin Sun has fulfilled a promise he made after spending $6.2m (£4.88m) on an artwork featuring a banana duct-taped to a wall – by eating the fruit.

At one of Hong Kong’s priciest hotels, Sun, 34, chomped down on the banana in front of dozens of journalists and influencers after giving a speech hailing the work as “iconic” and drew parallels between conceptual art and cryptocurrency.

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Amazon workers in 20 countries to protest or strike on Black Friday

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Workers and their representatives to press US retailer to respect their rights and take action on the climate crisis

Thousands of Amazon workers are expected to protest or strike in more than 20 countries during Black Friday to press for better workers’ rights and climate action from the US retailer..

Workers and representatives from unions and workers’ groups intend to join protests against the Seattle-based company’s practices between Black Friday and Cyber Monday (29 November and 2 December), one of the biggest shopping weekends of the year.

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Battery-operated items from Temu tested by Choice fail Australian safety standards

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Consumer advocate says results are a ‘worrying reminder’ children are at risk from insecure battery components on most items

An LED-lit tutu skirt, a spinning top and a set of building blocks are among a number of dangerous toys that were sold by Chinese-owned shopping platform Temu, Choice has found.

Choice tested 15 toys operated by circular coin or button-style batteries, including watches, a writing tablet, a musical keyboard, a cartoon projector and a electronic pet game from Temu in May.

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Rightmove rejects third bid from Rupert Murdoch’s REA Group

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Australian company says it is frustrated that UK property website has refused to engage over £6.1bn offer

Rightmove has rejected a third bid from Rupert Murdoch’s REA Group and said the offer was “unattractive” and undervalues the UK’s largest online property portal.

On Wednesday Rightmove confirmed that its board had “unanimously rejected” the non-binding cash-and-shares offer put forward on Monday, which valued the company at £6.1bn.

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Fashion retailer Shein finds child labour in its supply chain

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Disclosure comes as campaigners call on UK to oppose company’s planned listing on London Stock Exchange

The online fashion seller Shein has admitted it found two cases of child labour and factories failing to pay the minimum wage in its supply chain last year, as it tries to gain backing for a potential £50bn UK stock market flotation.

The disclosure, in Shein’s 2023 sustainability report, comes after workers’ rights campaigners called for the government to oppose a possible listing of Shein on the London Stock Exchange over concerns about a lack of transparency about its supply chain and ethical questions. The British Fashion Council (BFC) has also said the listing, which could be announced as early as next month, would be a “significant concern” to the industry.

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Ambulances called to Amazon’s UK warehouses 1,400 times in five years

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GMB union urges Health and Safety Executive to investigate ‘shocking’ figures revealed by the Observer

Ambulances have been called out to Amazon warehouses more than 1,400 times in the past five years, the Observer can reveal. The figures, which were described as shocking by the GMB trade union, raise fresh questions about safety at the American giant’s UK workplaces.

Amazon centres in Dunfermline and Bristol had the most ambulance callouts in Britain, listing 161 and 125 across the period respectively.

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Australian computer scientist is not bitcoin creator Satoshi Nakamoto, high court rules

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Judge says evidence for his conclusion that Craig Wright did not create bitcoin is ‘overwhelming’

Satoshi Nakamoto, the pseudonymous creator of bitcoin, is not the Australian computer scientist Craig Wright, a high court judge has ruled, ending a fractious two-month trial in London.

In a highly unusual decision, the presiding judge, Mr Justice Mellor, issued the verdict within seconds of the case concluding, promising to issue a “fairly lengthy written judgment” in due course.

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Bitcoin hits new record high above $70,000; US investor ends Currys chase – business live

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Live, rolling coverage of business, economics and financial markets as exchange-traded funds help biggest cryptocurrency rally

The European Commission’s use of Microsoft email and office software broke its own privacy rules, an EU privacy watchdog has ruled.

Microsoft’s software transferred personal data outside the EU, breaching privacy rules, according to the European Data Protection Supervisor.

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Crypto firm moved $4.2m of assets to digital wallet linked to alleged Russian arms dealer

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Analysis shows link between Copper Technologies and Jonatan Zimenkov, who was later hit with US sanctions over Ukraine invasion

A cryptocurrency firm transferred digital assets worth more than $4.2m to a crypto wallet belonging to a member of an alleged Russian arms-dealing network who was later hit with US sanctions, it can be revealed.

Details of the transactions involving Copper Technologies raise questions about whether UK laws governing crypto have adapted quickly enough to keep pace with a rapidly evolving sector that has come under increasing scrutiny over the level of anonymity it can provide.

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Online slot machine stakes to be capped at £5 in Great Britain

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Maximum will be £2 for younger adults but campaigners say government has not gone far enough

The amount that can be staked on the spin of an online slot machine will be capped at £5, or £2 for younger customers, as part of government plans to tighten regulation of the £11bn-a-year gambling industry in Great Britain.

Online slots are currently exempt from limits on how much punters can wager.

In the UK and Ireland, Samaritans can be contacted on freephone 116 123, or email jo@samaritans.org or jo@samaritans.ie. In the US, you can call or text the National Suicide Prevention Lifeline on 988, chat on 988lifeline.org, or text HOME to 741741 to connect with a crisis counselor. In Australia, the crisis support service Lifeline is 13 11 14. Other international helplines can be found at befrienders.org

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Uniqlo sues Shein over ‘imitation’ banana-shaped ‘it’ bag

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Petition demands online retailer stop immediate sale of bags and compensation for damages incurred

Uniqlo is suing the Chinese online retailer Shein over the sale of items it claims copy its popular banana-shaped ‘it’ bag, the “round mini”.

The petition demands that Shein immediately stops the sale of “the imitation products” and pays compensation for damages incurred as a result of their sale. It was filed last month in the Tokyo district court against the fast-growing business’s parent groups Roadget and Fashion Choice, as well as Shein Japan.

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Leading tech journalist quits Substack over platform’s Nazi newsletters

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Reporter Casey Newton takes more than 170,000 subscribers elsewhere over company’s failure to police extremist content

Platformer, a prominent tech newsletter founded by the veteran reporter Casey Newton, is leaving Substack over the company’s failure to police extremist content.

In a post explaining the decision, Newton said his team had identified seven Substack publications “that conveyed explicit support for 1930s German Nazis and called for violence against Jews, among other groups”. He said after weeks of back-and-forth discussions with company leaders about their “laissez-faire approach to content moderation”, he decided to part ways with the platform.

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French post office opens changing room for online shoppers

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Customers can collect their parcels and try on items in one trip during trial at La Poste branches

It is an increasingly common irritant of modern life. You order an item of clothing online; you wait with anticipation for it to arrive, and five minutes after it has arrived you’re packaging it up because it doesn’t fit.

For shoppers in France, however, the national post office may have the answer – or at least a way of making the process less logistically challenging. It is experimenting with in-store changing rooms to cater to people who want to quickly return purchases they do not want.

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