China

Google Suspends Chinese E-Commerce App Pinduoduo Over Malware Used To Gain Competitive Advantage (krebsonsecurity.com) 12

An anonymous reader quotes a report from KrebsOnSecurity: Google says it has suspended the app for the Chinese e-commerce giant Pinduoduo after malware was found in versions of the app. The move comes just weeks after Chinese security researchers published an analysis suggesting the popular e-commerce app sought to seize total control over affected devices by exploiting multiple security vulnerabilities in a variety of Android-based smartphones. In November 2022, researchers at Google's Project Zero warned about active attacks on Samsung mobile phones which chained together three security vulnerabilities that Samsung patched in March 2021, and which would have allowed an app to add or read any files on the device. Google said it believes the exploit chain for Samsung devices belonged to a "commercial surveillance vendor," without elaborating further. The highly technical writeup also did not name the malicious app in question.

On Feb. 28, 2023, researchers at the Chinese security firm DarkNavy published a blog post purporting to show evidence that a major Chinese ecommerce company's app was using this same three-exploit chain to read user data stored by other apps on the affected device, and to make its app nearly impossible to remove. DarkNavy likewise did not name the app they said was responsible for the attacks. In fact, the researchers took care to redact the name of the app from multiple code screenshots published in their writeup. DarkNavy did not respond to requests for clarification. "At present, a large number of end users have complained on multiple social platforms," reads a translated version of the DarkNavy blog post. "The app has problems such as inexplicable installation, privacy leakage, and inability to uninstall."

On March 3, 2023, a denizen of the now-defunct cybercrime community BreachForums posted a thread which noted that a unique component of the malicious app code highlighted by DarkNavy also was found in the ecommerce application whose name was apparently redacted from the DarkNavy analysis: Pinduoduo. A Mar. 3, 2023 post on BreachForums, comparing the redacted code from the DarkNavy analysis with the same function in the Pinduoduo app available for download at the time. On March 4, 2023, e-commerce expert Liu Huafang posted on the Chinese social media network Weibo that Pinduoduo's app was using security vulnerabilities to gain market share by stealing user data from its competitors. That Weibo post has since been deleted. On March 7, the newly created Github account Davinci1010 published a technical analysis claiming that until recently Pinduoduo's source code included a "backdoor," a hacking term used to describe code that allows an adversary to remotely and secretly connect to a compromised system at will. That analysis includes links to archived versions of Pinduoduo's app released before March 5 (version 6.50 and lower), which is when Davinci1010 says a new version of the app removed the malicious code.
Pinduoduo boasts approximately 900 million monthly active users in China. In August of last year, the Guardian published an article covering the company's plans to expand to the U.S. and take on Amazon.
Businesses

Amazon Tax Structure Like Something Out of a Bond Movie, EU Says (bloomberg.com) 175

Amazon's efforts to minimize its taxes in the European Union were given a code-name evocative of a spy thriller with British agent 007, according to an EU lawyer, who claimed the arrangements broke the bloc's state-aid rules. From a report: "Project Goldcrest -- it sounds like the title of a James Bond movie, but it is not," it's the name "Amazon gave to a complex tax construction by which it fundamentally reorganized its global business," European Commission attorney Paul-John Loewenthal told a hearing at the EU's top court on Thursday.

"In 2006, that project had one purpose to ensure that Amazon would avoid paying tax on its European profits." Under that plan, "Luxembourg provided a measure to Amazon by which Amazon could exempt the vast majority of its European profit from taxation in return for investments in Luxembourg, thus affecting intra EU trade and distorting competition," he said. "That is the very definition of fiscal state aid." The EU's executive arm is appealing a painful defeat inflicted by a lower court, which overturned a decision to force the ecommerce firm to pay back $265 million of tax breaks regulators deemed to be an unfair subsidy.

AI

Amazon's Big Dreams for Alexa Fall Short (ft.com) 58

It has been more than a decade since Jeff Bezos excitedly sketched out his vision for Alexa on a whiteboard at Amazon's headquarters. His voice assistant would help do all manner of tasks, such as shop online, control gadgets, or even read kids a bedtime story. But the Amazon founder's grand vision of a new computing platform controlled by voice has fallen short. From a report: As hype in the tech world turns feverishly to generative AI as the "next big thing," the moment has caused many to ask hard questions of the previous "next big thing" -- the much-lauded voice assistants from Amazon, Google, Apple, Microsoft and others. A "grow grow grow" culture described by one former Amazon Alexa marketing executive has now shifted to a more intense focus on how the device can help the ecommerce giant make money. "If you have anything you can do that you might be able to directly monetise, you should do it," was the recent diktat from Amazon leaders, according to one current employee on the Alexa team.

Under new chief executive Andy Jassy's tenure this change of focus has resulted in significant lay-offs in Amazon's Alexa team late last year as executives scrutinise the product's direct contribution to the company's bottom line. The belt-tightening came as part of broader cuts that have seen the ecommerce giant slash 18,000 jobs across the group amid pressure to improve profits during a global tech downturn. At Microsoft, whose chief executive Satya Nadella declared in 2016 that "bots are the new apps," it is now acknowledged that voice assistants, including its own Cortana, did not live up to the hype. "They were all dumb as a rock," Nadella told the Financial Times last month. "Whether it's Cortana or Alexa or Google Assistant or Siri, all these just don't work. We had a product that was supposed to be the new front-end to a lot of [information] that didn't work." Nadella can afford to be blunt: Microsoft's recent introduction of AI chatbot ChatGPT to its Bing search engine means the company is now seen as a leader in the field, having previously been mostly forgotten by the majority of internet users. ChatGPT's ability to understand complex instructions left existing voice assistants looking comparatively stupid, said Adam Cheyer, the co-creator of Siri, the voice assistant acquired by Apple in 2010 and introduced to the iPhone a year later.

Medicine

Amazon Deepens Healthcare Push With $5 Monthly Subscription (reuters.com) 63

Amazon said on Tuesday it is offering a $5 monthly subscription plan for U.S. Prime members that will cover a range of generic drugs and their doorstep delivery, furthering the ecommerce giant's push into healthcare. From a report: The program, named RxPass, includes more than 50 medications addressing over 80 chronic conditions such as high blood pressure, anxiety, diabetes and male pattern baldness, Vin Gupta, Amazon Pharmacy's chief medical officer, told Reuters. However, customers enrolled in Medicare, Medicaid or any other government healthcare program will not be able to enroll in Amazon Pharmacy's RxPass service.

The average Prime member would save about $100 per year with RxPass, John Love, vice president of Amazon Pharmacy, said in an interview. Amazon Prime members in most U.S. states can sign up for the program from Tuesday. The flat $5 charge would be without insurance and on top of the Prime membership fee, which costs $139 per year in the United States.

Businesses

America's FTC Demands End to Mastercard's 'Illegal' Blocking of Competing Debit Card Payment Networks (ftc.gov) 16

Friday America's Federal Trade Commission issued an announcement on what it called "illegal business tactics that Mastercard has been using to force merchants to route debit card payments through its payment network," saying the FTC is now requiring Mastercard "to stop blocking the use of competing debit payment networks." The popularity of debit cards has been growing especially quickly for purchases consumers make using their personal devices equipped with ewallet applications such as Apple Pay, Google Pay, and Samsung Wallet. Payment card networks play a critical role in those debit card transactions....

Payment card networks compete for the business of banks that issue cards and for the business of merchants that accept card payments. Mastercard, along with Visa, is one of the two leading payment card networks in the United States. The processing fees charged by networks total billions of dollars every year, affecting every purchase made with a debit card, according to the FTC. Most of these fees are paid by the merchants to the card-issuing banks and the payment card networks....

Mastercard was flouting the law by setting policies to block merchants from routing ecommerce transactions using Mastercard-branded debit cards saved in ewallets to alternative payment card networks, including networks that may charge lower fees than Mastercard, the FTC alleged. Specifically, Mastercard used its control over a process called "tokenization" to block the use of competing payment card networks, the agency alleged. Transactions commonly are "tokenized" by replacing the cardholder's primary account number with a different number to protect the account number during some stages of a debit transaction. Tokens are stored in ewallets such as Apple Pay, Google Pay, and Samsung Wallet and serve as a substitute credential to provide additional protection for a cardholder's account number....

According to the FTC, Mastercard refuses to provide conversion services to competing networks for remote ewallet debit transactions...thereby making it impossible for merchants to route their ewallet transactions on a network other than Mastercard.

EU

Amazon Agrees Final Deal To Close EU Antitrust Probes (ft.com) 6

Amazon has reached a final deal with EU antitrust regulators over concerns its use of data undermined rivals, in a move that will close two of the most high-profile probes in Brussels. From a report: The US ecommerce group has committed to increasing the visibility of rival products by giving them equal treatment on Amazon's "buy box," which generates the majority of purchases on the site. It will also create an alternative featured offer for those buyers where speed of delivery is less important. The European Commission plans to announce the deal on December 20, according to four people with direct knowledge of the timing. However they warned the date could still change at the last minute.

The commitments, which are set to remain in force for five years, have been "market tested" with rivals and agreed with EU officials, these people said. "There's very little to discuss," a person with knowledge of the process said. The move represents a win for the EU as it will serve as a blueprint for the tech group's compliance with the new Digital Markets Act, a piece of legislation aimed at curbing the power of Big Tech. It also means Amazon will avoid formal charges of breaking EU law and a large fine of up to 10 per cent of global revenues.

Google

Google Shuts Down Duplex on the Web, Its Attempt To Bring AI Smarts To Retail Sites and More (techcrunch.com) 8

Google is shutting down Duplex on the Web, its AI-powered set of services that navigated sites to simplify the process of ordering food, purchasing movie tickets and more. From a report: According to a note on a Google support page, Google on the Web and any automation features enabled by it will no longer be supported as of this month. Google introduced Duplex on the Web, an outgrowth of its call-automating Duplex technology, during its 2019 Google I/O developer conference. To start, it was focused on a couple of narrow use cases, including opening a movie theater chain's website to fill out all of the necessary information on a user's behalf -- pausing to prompt for choices like seats. But Duplex on the Web later expanded to passwords, helping users automatically change passwords exposed in a data breach, as well as assisted checkout for ecommerce retailers, flight check-in for airline sites and automatic discount finding. The promise of Duplex on the Web was that you'd be able to issue Google Assistant a command like "Book me a car from Hertz" and have Duplex pull up the relevant web page and automatically fill in details like your name, car preferences, trip dates, payment information (using information from Gmail and Chrome autofill), and more.
Businesses

YouTube Expands Shopping Features Following Digital Advertising Slowdown (ft.com) 28

YouTube is ramping up its push into ecommerce by introducing shopping features to the world's biggest videos site, seeking to diversify revenue streams during a slowdown in digital advertising. From a report: The platform, a division of Google parent Alphabet, has introduced the new function to Shorts, YouTube's short-form video offering that was launched in 2020 to compete against the popularity of fast-growing rival TikTok. This will mean users will be able to buy products as they scroll through videos. YouTube is also testing new commission schemes for influencers who sell products through links in videos, as it battles to hold on to its so-called creators -- users who make content on YouTube -- against fierce competition from rivals.

"Our goal is to focus on the best monetisation opportunities for creators in the market," Michael Martin, YouTube Shopping's general manager, told the Financial Times in his first interview since joining the company six months ago. YouTube's expansion of its shopping features comes as tech groups rush to diversify their revenue streams in response to a slowing economy and a depressed digital advertising market. At Alphabet's last earnings, YouTube's ad sales revenue declined and missed analyst estimates for the first time since the parent company started reporting its performance separately in 2020.

Businesses

Stripe Takes Steps To Prune Workforce (forbes.com) 56

An anonymous reader shares a report: As the economy slows, more tech companies have been showing employees the door. Now some senior leaders at Silicon Valley fintech giant Stripe, which in early 2021 was valued by private investors at $95 billion, have asked managers to start giving lower ratings on performance reviews, current and former employees say. That move could lead to more people being fired or feeling pressured to quit and comes at a time when tech businesses, particularly Stripe's payments and ecommerce peers, have been struggling.

Potential cuts, which Stripe wouldn't have to disclose as layoffs because they would be performance-based, could affect hundreds of workers at the dual Dublin- and San Francisco-headquartered company, which has more than 8,000 employees. The pressure to lower ratings follows months of anxious speculation among workers after Stripe added a new question, asking whether a manager would rehire someone, to its performance reviews this past summer. Forbes spoke to ten former and current Stripe employees for this story; all asked to remain anonymous. In interviews and in comments online, workers say Stripe's recent moves have exacerbated a lack of "psychological safety" at the hard-charging private company, leaving some afraid to speak up or express dissenting opinions.

Education

New Specialized Career Certifications Created by 'Grow with Google' Through University-Industry Partnerships (fortune.com) 27

In 2017 Google committed $1 billion to a program called "Grow with Google," and in 2018 launched "Google Career Certificates."

Fortune looks at the success of those programs — and their newest evolution: These online educational programs are focused on helping learners land jobs that are in high demand, including in digital marketing, IT support , data analytics, project management, and UX design. More than 300,000 people have graduated from Google's Career Certificates program, and 75% of these grads report they've found a new job, higher pay, or a promotion within six months of completing of the program.

Today, Grow with Google takes this program a step further by developing university-industry partnerships. Grow with Google tells Fortune exclusively of the launch of its partnerships with top universities to offer specialized career certificates. These specialized programs build on Grow with Google's existing programs, but offer more industry-specific take on the material....

The specializations include:

- Fundamentals of Data Analytics in the Public Sector with R by the University of Michigan
- Construction Management by Columbia Engineering
- Financial Analysis — Skills for Success by the University of Illinois' Gies School of Business
- Sustainability Analyst Fundamentals by Arizona State University.

"This is really a tipping point for higher ed," says Lisa Gevelber, founder of Grow with Google. "Educational institutions have always been the place that people went from the world of classroom learning to the world of work. But what we're seeing here is higher ed really adopting more innovative, flexible models to make sure that students of all sorts have access to the knowledge to be successful in the workforce...."

The courses were developed by industry experts at Google, along with faculty at the hosting universities. Industry employers were also asked for input on important course content.

After finishing courses, students gain access to an online list of the jobs that the program qualifies them for. This includes listings from Google's 150-employer consortium that specifically hire graduates of Google Career Certificate programs — including Google itself.

Gevelber explains to Fortune that "At the end of the day, no one is taking a class to take a class. They're all taking this class to get a real economic outcome for their family. We want to ensure they have the skills they need and employers are laying and waiting to hire them."
Privacy

Breach of Software Maker Used To Backdoor Ecommerce Servers (arstechnica.com) 9

An anonymous reader quotes a report from Ars Technica: FishPig, a UK-based maker of e-commerce software used by as many as 200,000 websites, is urging customers to reinstall or update all existing program extensions after discovering a security breach of its distribution server that allowed criminals to surreptitiously backdoor customer systems. The unknown threat actors used their control of FishPig's systems to carry out a supply chain attack that infected customer systems using FishPig's fee-based Magento 2 modules with Rekoobe, a sophisticated backdoor discovered in June. Rekoobe masquerades as a benign SMTP server and can be activated by covert commands related to handling the startTLS command from an attacker over the Internet. Once activated, Rekoobe provides a reverse shell that allows the threat actor to remotely issue commands to the infected server.

"We are still investigating how the attacker accessed our systems and are not currently sure whether it was via a server exploit or an application exploit," Ben Tideswell, the lead developer at FishPig, wrote in an email. "As for the attack itself, we are quite used to seeing automated exploits of applications and perhaps that is how the attackers initially gained access to our system. Once inside though, they must have taken a manual approach to select where and how to place their exploit."

FishPig is a seller of Magento-WordPress integrations. Magento is an open source e-commerce platform used for developing online marketplaces. The supply-chain attack only affects paid Magento 2 modules. Tideswell said the last software commit made to its servers that didn't include the malicious code was made on August 6, making that the earliest possible date the breach likely occurred. Sansec, the security firm that discovered the breach and first reported it, said the intrusion began on or before August 19. Tideswell said FishPig has already "sent emails to everyone who has downloaded anything from FishPig.co.uk in the last 12 weeks alerting them to what's happened." Tideswell declined to say how many active installations of its paid software there are. This post indicates that the software has received more than 200,000 downloads, but the number of paid customers is smaller.
In a disclosure published after the Sansec advisory, FishPig describes how the intruders pulled off the intrusion and remained hidden for so long.
Chrome

Chrome Extensions With 1.4M Installs Covertly Track Visits and Inject Code (arstechnica.com) 7

Google has removed browser extensions with more than 1.4 million downloads from the Chrome Web Store after third-party researchers reported they were surreptitiously tracking users' browsing history and inserting tracking code into specific ecommerce sites they visited. ArsTechnica: The five extensions flagged by McAfee purport to offer various services, including the ability to stream Netflix videos to groups of people, take screenshots, and automatically find and apply coupon codes. Behind the scenes, company researchers said, the extensions kept a running list of each site a user visited and took additional actions when users landed on specific sites. The extensions sent the name of each site visited to the developer-designated site d.langhort.com, along with a unique identifier and the country, city, and zip code of the visiting device. If the site visited matched a list of ecommerce sites, the developer domain instructed the extensions to insert JavaScript into the visited page. The code modified the cookies for the site so that the extension authors receive affiliate payment for any items purchased. To help keep the activity covert, some of the extensions were programmed to wait 15 days after installation before beginning the data collection and code injection.
Anime

Crunchyroll Closes Deal To Acquire Anime Superstore Right Stuf (crunchyroll.com) 24

Crunchyroll announced that it's acquired Right Stuf, one of the world's leading online anime superstores. "Expanding Crunchyroll's eCommerce offerings, the acquisition aims to serve anime fans and collectors an even wider array of merchandise for online purchase including manga, home video, figures, games, music and everything in between," writes the company in a post. From the report: Founded in 1987, Right Stuf is a leading consumer source for anime pop culture merchandise online. By visiting its eCommerce portal, enthusiasts and collectors can find thousands of products, including Blu-rays, manga books, music, figurines, collectables, and more. Right Stuf also offers licensed anime home video products through its own label.

"For 35 years, Right Stuf's mission has been to connect anime fans with the products they love," said Shawne Kleckner, CEO of Right Stuf. "Joining forces with Crunchyroll allows us to accelerate and scale this effort more than ever before. There has never been a more exciting time to be an anime fan than today!" Kleckner and the Right Stuf team will join Crunchyroll's Emerging Businesses organization, led by Terry Li.
Sony acquired Crunchyroll for $1.175 billion from AT&T, in a deal that closed in August 2021.
Businesses

US Authorities Threaten Alibaba With NYSE Delisting (theregister.com) 10

Chinese tech giant Alibaba is the latest company to run afoul of the US Securities and Exchange Commission, which has threatened delisting from US stock exchanges. The Register reports: Alibaba's addition to the SEC's list of nearly 300 companies -- mostly from China -- means that US officials were unable to complete an audit of the company's finances. The 2020 Holding Foreign Companies Accountable Act (HFCAA) gives the SEC the authority to delist companies if it is suspected that financial audits may not be accurate. The news hit Alibaba stock hard on Friday, causing it to drop from $100.52 to $89.37 through the day. In a statement sent to the SEC on Monday, Alibaba said it would "strive to maintain its listing status," and that it would continue to monitor market developments and comply with applicable laws and regulations.

Addition to the SEC's HFCAA list doesn't mean that Alibaba will immediately be removed from the New York Stock Exchange (NYSE). Instead, the notice marks the company's first "non-inspection" year; Alibaba is only actually in danger of delisting if it hands in two more consecutive annual reports that run afoul of the HFCAA. The report that landed the company under scrutiny covered Alibaba's fiscal year ending on March 31, 2022. Companies on the provisional HFCAA list have 15 business days to dispute addition to the list. Along with Alibaba's inclusion last week, pet company Boqii, Cheetah Mobile, ecommerce platform MOGU, manufacturing business Highway Holdings and logistics company Novagant Corp -- all from China or Hong Kong -- were added.

The Almighty Buck

Remember RadioShack? It's Now a Crypto Company with Wild Tweets (msn.com) 78

"Gen Z may not be familiar with the RadioShack of their grandparents, but they're getting to know its replacement," writes the Washington Post.

"The 100-year-old retailer reintroduced itself on Twitter this week with a stream of often-profane tweets — some since deleted — filled with crude comments and drug references." Variations of, "What in the world is going on?" peppered the comment threads, but a glance of the company's Twitter profile partly held the answer: RadioShack is no longer the electronics store Americans ran to for generations, but rather an online cryptocurrency company that also happens to sell batteries.

"It's our voice, a new voice, one for the people," said Abel Czupor, the chief marketing officer. "RadioShack's audience used to be only an older demographic, but as times have changed and e-commerce has taken over, the old voice of RadioShack is no longer relevant."

Following a decade of decline, RadioShack was delisted by New York Stock Exchange in 2015. In its struggle to find a brand identity, the chain filed for bankruptcy twice, and went from having roughly 5,200 U.S. stores in 2014 to about 400 when private equity firm Retail Ecommerce Ventures (REV) purchased it in 2020. REV was formed by Alex Mehr, the co-founder of online dating site Zoosk.com, and Tai Lopez, an online influencer known for coaching about his lavish lifestyle. They launched RadioShack Swap, a decentralized crypto exchange platform that allows users to swap coins or tokens, a format that comes with more flexibility and lower transaction fees than trading... In a May statement, the company reported trading volume of $40 million, with a daily average of $500,000 to $2 million....

Yet with its latest marketing strategy on Twitter, the reactions were mixed. One day the platform itself "randomly shut down our account and locked us out." Czupor said, though some tweets were later restored.

The new RadioShack tells the Post that "Sales have actually grown since we started upping our Twitter game over the past several weeks." And the founder of social media marketing consultancy Flying Hare Social told the newspaper that RadioShack's tweets may help them gain visibility — because "Everybody who's interested in crypto is interested in this kind of humor."
China

Why Chinese Sellers Are Quitting Amazon (restofworld.org) 129

An anonymous reader shares a report: You might have seen the headlines over the past year: Chinese sellers are leaving Amazon. Since early 2021, the e-commerce giant says it has banned 3,000 Chinese accounts for using paid reviewers to artificially inflate ratings, a practice known as "brushing." The narrative sounds pretty simple, right? Dishonest Chinese sellers gaming the system! Of course they should be punished. Amazon has said that it issued the bans after repeated warnings over manipulated reviews, and that no seller has been targeted by nationality. Meanwhile, in Chinese media, the sellers have a different account. They describe paying ever-rising costs, while struggling with restrictions on how they sell on the platform. When they have brushed up their ratings, sellers told Chinese tech media Pingwest, it's because Amazon's stringent requirements have pushed them to, in order to survive. (A Chinese e-commerce industry association estimates at least 50,000 banned.) Either way, the relationship has somewhat soured.

In 2012, when Amazon entered China and aggressively recruited sellers onto its third-party Marketplace platform, merchants treated founder Jeff Bezos with reverence. Many of them considered him a role model, and resonated with Amazon's lofty principles of "putting the customer first" and "creating long-term value." Amazon Marketplace was appealing to Chinese sellers in two important ways: there was almost no barrier to entry, and they could mark up their products as much as they liked. Products that cost 5-6 yuan on Taobao could be sold for $20 (about 140 yuan) on Amazon -- a markup of 20-30 times the original price! Not percent, but times. Lured by the crazy-high profit margin, the number of Chinese sellers on Amazon climbed sharply.

Within a few years, Marketplace growth took off. Between 2014 and 2015, sales from Amazon's Chinese merchants tripled. By 2017, one-third of all international sellers on Amazon were from China, and Marketplace's sales volume had surpassed that of the main Amazon platform. Here comes the catch. Despite all the PR around Amazon Web Services, we know that Marketplace is Amazon's real moneymaker. Recall that Amazon charges for commissions, advertising, logistics and warehousing. And warehousing costs alone have soared since Chinese sellers came on board, continuing to grow with a nice 11% bump just this February. Costs to advertise -- something crucial for smaller sellers -- surged 50% during the pandemic. But the thing is, it's hard to sell if you're not part of Prime, wherever you're based, and that probably means signing up for all the above charges. And this is the case inside just the Amazon universe.

Businesses

Amazon Aims To Sublet, End Warehouse Leases as Online Sales Cool (bloomberg.com) 29

Amazon, stuck with too much warehouse capacity now that the surge in pandemic-era shopping has faded, is looking to sublet at least 10 million square feet of space and could vacate even more by ending leases with landlords, according to people familiar with the situation. From a report: The excess capacity includes warehouses in New York, New Jersey, Southern California and Atlanta, said the people, who requested anonymity because they're not authorized to speak about the deals. The surfeit of space could far exceed 10 million square feet, two of the people said, with one saying it could be triple that. Another person close to the deliberations said a final estimate on the square footage to be vacated hasn't been reached and that the figure remains in flux.

Amazon could try to negotiate lease terminations with existing landlords, including Prologis, an industrial real estate developer that counts the e-commerce giant as its biggest tenant, two of the people said. In a sign that Amazon is being careful not to cut too deeply should demand quickly rebound, the 10 million square feet the company is looking to sublet is roughly equivalent to about 12 of its largest fulfillment centers or about 5% of the square footage added during the pandemic. In another signal that Amazon is hedging its bets, some of the sublet terms would last just one or two years.

Businesses

Amazon Pledges $20 Billion in Exports From India by 2025 (techcrunch.com) 12

Amazon said on Wednesday that it aims to export locally produced Indian goods worth $20 billion by 2025, doubling its initial goal of $10 billion set for the same time frame as the e-commerce group attracts over 100,000 exporters in the key overseas market. From a report: It took the company -- which launched its exports program, called Amazon Global Selling, in India in 2015 -- three years to clock exports of $1 billion from the country, it said. The firm added the last $2 billion in just 17 months, it said at a virtual event Wednesday. In total, the company said it is on track to hit $5 billion in cumulative exports from India. "We are excited to build a strong foundation for MSMEs to realize their export potential, help them become globally competitive and contribute towards honorable Prime Minister's vision of making India an export powerhouse," said Amit Agarwal, SVP of India and Emerging Markets for Amazon, at the event.
EU

Europe Seals a Deal on Tighter Rules For Digital Services (techcrunch.com) 15

European Union lawmakers have secured a provisional deal on a landmark update to rules for digital services operating in the region -- grabbing political agreement after a final late night/early morning of compromise talks on the detail of what is a major retooling of the bloc's existing ecommerce rulebook. From a report: The political agreement on the Digital Services Act (DSA) paves the way for formal adoption in the coming weeks and the legislation entering into force -- likely later this year. Although the rules won't start to apply until 15 months after that -- so there's a fairly long lead in time to allow companies to adapt.

The regulation is wide ranging -- setting out to harmonize content moderation and other governance rules to speed up the removal of illegal content and products. It addresses a grab-bag of consumer protection and privacy concerns, as well as introducing algorithmic accountability requirements for large platforms to dial up societal accountability around their services. While 'KYC' requirements are intended to do the same for online marketplaces.

Businesses

Former EBay Security Director To Plead Guilty To Cyberstalking (bloomberg.com) 16

Former eBay security director Jim Baugh will plead guilty to running a bizarre 2019 cyberstalking campaign against a couple who ran a website critical of the company, Bloomberg reported Tuesday, citing a person familiar with the matter. From a report: Baugh had been scheduled to face trial in late May. In a court filing on Tuesday, his defense attorney, William Fick, asked a federal judge in Boston to allow Baugh to change his plea via videoconference. Five other former eBay employees have already admitted to roles in a cross-country campaign designed to intimidate Ina and David Steiner of Natick, Mass. Several were expected to testify against Baugh. Another eBay employee, former global resiliency director David Harville is scheduled to face trial in May. Ina Steiner's reporting about eBay on the couple's site eCommerce Bytes upset the company's then-Chief Executive Officer Devin Wenig, whose compensation package she revealed. "Take her down," Wenig texted his then-communications chief Steve Wymer, according to prosecutors.

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