Alibaba Group is obtaining a majority equity stake in Sun Art Retail Group, which operates 481 hypermarkets and three supermarkets in China. The $3.6 billion investment will increase Alibaba's stake to approximately 72%, and the company plans to offer buyouts to remaining shareholders to acquire all of Sun Art.
Mars wants to help 1 million people living and working in the communities where it sources commodities such as cocoa, palm oil and sugar, said CEO Grant Reid. Initiatives include reducing carbon emissions in its supply chain by 67% by 2050, increasing income for people working in these communities and eliminating deforestation.
Gross sales at Amazon Business are likely to reach $16 billion this year, with net revenue of $10 billion, according to RBC Capital Markets managing director Mark Mahaney. That level of revenue makes it a competitor to leading distributors, although Amazon has not released official sales figures for Amazon Business in two years.
ConocoPhillips has agreed to a $9.7 billion all-stock acquisition of shale oil producer Concho Resources, which would make ConocoPhillips the largest US independent producer. Concho would in particular expand ConocoPhillips' presence in the Permian Basin.
Washington-based Laserfab increased production of its Vote Armor metal ballot boxes this year, despite the pandemic, in response to demand for early voting options and other situations where secure transactions are required. This article details the initial uncertainty and how Laserfab is managing its operations.
Johnson & Johnson has committed to 100% sustainable packaging for its consumer health products by 2025, part of a $800 million campaign to update its sourcing and packaging. "When you can find alignment between cost savings and sustainability, those programs work really well and happen much faster," says Wes Carter of Atlantic Packaging, which works with J&J.
Robotic automation isn't suited for every task in a factory, and that's where exoskeletons come in, giving their human occupants the ability to better perform heavy and repetitive tasks. Automakers are among the early adopters.
ShipMatrix predicts that as many as 7 million packages a day will sit idle between Thanksgiving and Christmas and may be delivered late because of ground capacity constraints at large and small carriers, including FedEx, UPS, DHL eCommerce Solutions and LaserShip. Tim Geiken of logistics consulting firm Platinum Circle Partners says many players are seeking additional capacity, but "[w]ith minimal exceptions, nobody is finding it."
Walmart is negotiating to purchase a 7.5% stake in TikTok's US assets and is discussing with app executives ways in which it can expand its customer reach, simplify social commerce and bolster shipping capabilities for product purchases, says CEO Doug McMillon. Walmart is bidding for ByteDance-owned TikTok along with Oracle and must gain government approval before a deal is finalized.
Third-party seller sales topped $3.5 billion for this year's Amazon Prime Day, up almost 60% from 2019 and outpacing Amazon's overall retail business, the company announced Thursday. Amazon did not release total sales figures but called the sale on Tuesday and Wednesday its "two biggest days ever for third-party sellers."
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