Amazon, which earned 50 cents of every dollar spent online in the US last year, is impossible to beat at its own game, according to New York University business professor Scott Galloway, speaking this week at Recode's Code Commerce conference. A panel of retailer CEOs said opportunities do exist, such as Shopify's model of working closely with merchants and Macy's advantage of a physical presence.
Luxury automakers Jaguar, Audi, BMW and Mercedes-Benz are preparing to release all-electric SUVs in competition with Tesla's Model X. Audi this week introduced its E-Tron model, which is expected to cost less than the Model X and to feature Amazon's Alexa voice tool.
The Organization for Economic Cooperation and Development is in a deal with ACT to design a Program for International Student Assessment test that would assess student creativity. If adopted, the exam could be administered as soon as 2021 across the world and would include sections on written and visual expression as well as social and scientific problems.
Walmart has increased its focus on using the health care market as an avenue for growth, including a deal for over-the-counter sales reached last month with insurer Anthem. The retailer is looking at wellness visits as an opportunity to bring customers into the store, according to Oliver Wyman's Sam Glick.
Spanning Cloud Apps polled over 400 US employees and found that 60% of government workers would let colleagues use their work computer, compared with 40% of health care staffers. Another study by Wombat Security found that on average, health care employees incorrectly answered 23% of questions related to IT security best practices, compared with 24% among those in the hospitality industry.
Brian Hammond explores the ramifications of the imminent arrival of 5G networks, highlighting the faster download speeds and services that will be provided by the major industry players including Verizon, AT&T, T-Mobile and Sprint. The implementation of 5G will boost mobile content consumption as well as support the increasing popularity of internet of things connectivity in homes and in cars, he writes.
Amazon is considering a plan to open up to 3,000 of its cashierless Amazon Go stores by 2021 in cities around the country, according to a Bloomberg report. Among the questions the company is debating is whether they would be convenience stores or focused more narrowly on grab-and-go dinner items, the report said.
As many as 14 million records were exposed in a breach of the GovPayNet website, security expert Brian Krebs reports. At least six years' worth of data, including addresses and the last four digits of payment cards, were leaked on the website, which manages online payments for government agencies.
The Senate voted 99-1 to approve a bipartisan legislative package consisting of 70 bills designed to combat the opioid crisis, including measures that would provide the US Postal Service with more tools to block illegal fentanyl shipments, offer incentives to the National Institutes of Health to prioritize non-opioid painkiller development, and give the FDA the authority to require drugmakers to package opioids in smaller quantities. The package must be reconciled with House legislation that passed earlier this year.
Federal Communications Commission Chairman Ajit Pai criticized California's net neutrality bill passed by the state legislature, but still needs Gov. Jerry Brown's signature, calling it "illegal" and "anti-consumer." "California's micromanagement poses a risk to the rest of the country," Pai said, but the bill's sponsor state Sen. Scott Wiener countered Pai by saying, "California understands exactly what it takes to foster an open innovation economy with a level playing field."
The national buyer traffic index shows a four-point drop in August, according to Credit Suisse, indicating a sharp slowdown in homebuying. The slowdown stems from increasing prices and interest rates, as well as an imbalance between supply and demand.
As proof that it's not kidding about wooing a younger clientele, The Colony hotel in Palm Beach, Fla., has employed a "manager of fun" since November. A complimentary bicycle fleet and a pink buggy to ferry families to the beach are among touches Rickey Kalinowski has added, along with his own jolly persona.