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  • Reuters SG

    UPDATE 2-E-commerce firm Shopee to adjust services in Indonesia after antitrust violation

    E-commerce firm Shopee said on Wednesday it agreed to make changes to its services in Indonesia after the country's antitrust agency said the platform had admitted to violating anti-monopoly rules. Indonesia's antitrust agency, known as KPPU, said in a statement Shopee had admitted to having violated anti-competition rules by directing customers to certain delivery services after being accused of the breaches last month. "Shopee is always committed to complying with all applicable regulations and laws in the Republic of Indonesia in conducting our business operations," Radynal Nataprawira, Shopee Indonesia's Head of Public Affairs said in a statement.

  • Reuters SG

    UPDATE 3-Shares of Brazil's Magalu soar on AliExpress sales partnership

    Brazilian retailer Magazine Luiza has struck a deal with Chinese e-commerce platform AliExpress to allow the two companies to sell products on each other's platforms, it said on Monday, sending its shares soaring. AliExpress will sell products from Choice, its premium service, on Magazine Luiza's marketplace, while Magalu - as the retailer is also known - will sell products from its own stocks on the Chinese firm's platform in Brazil. Shares of Magazine Luiza rose more than 13% on the news, while Brazil's Bovespa stock index gained 1%.

  • Zacks

    Palo Alto (PANW) Up 1.7% Since Last Earnings Report: Can It Continue?

    Palo Alto (PANW) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.