Commerce

Alibaba founder Jack Ma has announced that he will step down from his company's chief executive post.

Ma sent an e-mail to employees today, saying that it was a "difficult decision," according to Reuters, which obtained a copy of the note. He said that while he will be stepping down as CEO, he will stay on at Alibaba as chairman of the company's board of directors.

Ma and Alibaba have yet to name a successor, though Ma said his replacement would be announced May 10. It seems likely, given the tone of the 48-year-old Ma's … Read more

Amazon Prime has expanded its coverage to Canada, but not all benefits will be part of the package.

Starting today, Prime will be offered to Canadian consumers for the yearly fee of $79.

The service's unlimited two-day shipping will be available in most of the country, according to Canada's Times Colonist. People in rural areas can grab the unlimited shipping but with no two-day guarantee. Those in certain locations will be able to upgrade to one-day shipping starting at $3.99 per item.

Steve Oliver, the country manager for Amazon.ca, told the Times Colonist that the shipping … Read more

Amazon continues to reign as the most popular online store for customer satisfaction, according to a report out today from ForeSee.

Measuring the top online retailers for the holiday shopping season, ForeSee awarded Amazon a score of 88 out of 100, matching the company's top grade from last year. Amazon has scooped up the highest scores in the index for eight straight years, in large part because of the appeal and variety of its products, ForeSee said.

"At this point, Amazon has been dominant for so long and has such a history of focusing on the customer, its … Read more

Online spending hit $35 billion over the first 46 days of the holiday season , according to data out yesterday from ComScore.

From November 1 through December 16, sales jumped 13 percent jump over the same period last year. Last week set a record with spending surpassing $7 billion for the first time ever.

Green Monday (a term coined by eBay to refer to the second Monday in December) saw sales of $1.275 billion, while three other days for the season accounted for more than $1 billion in online spending.

However, the 13 percent rise is lower than expected, according … Read more

Holiday shoppers looking for a gift for their favorite Apple fan can save $10 on an iTunes gift card via Walmart.

The retail company is now offering a $50 electronic iTunes gift card for $40. That seems to be the only deal since Walmart is selling all other iTunes gift cards at their regular prices.

Buyers who opt for the deal receive an initial confirmation e-mail from Walmart and then a second e-mail with access to a PIN. After receiving the PIN, you can then send the card as a gift to your recipient. The turnaround seems to vary, however. … Read more

Amazon's new Chinese Kindle store is reportedly being investigated by Chinese authorities over charges that the store does not have a license to sell e-books in the country.

China's GAAP (General Administration of Press and Publication) agency requires that digital publishers operating in China must receive at least one of four licenses to publish, copy, distribute, or import ebooks, according to blog site MIC Gadget.

But Amazon allegedly did not obtain any of the required licenses. Instead, the company reportedly borrowed a license from one of its partners, which is against the law in China. Amazon did apply … Read more

Apple's online store is offering free two- to three-day shipping on all of the products it carries.

The iPhone maker is promoting the deal on its home page today, saying that choosing the fast-shipping option will, in most cases, ensure customers get the products they desire "in time for the holidays."

Apple was quick to point out that the deal is available on everything in its store -- even those products, like the company's newly updated iMacs, that are either not available to ship soon or won't be available until next month.

To help customers … Read more

Amazon has stepped its e-book toes into China by launching a Kindle store for Chinese consumers.

The new store mimics the look and feel of the typical Kindle store but offers a wide range of Chinese-language books.

Since Amazon doesn't sell Kindle tablets and e-readers in China, buyers are directed to download the Kindle app for iOS and Android devices.

The store's opening could also be a move toward launching Kindle devices in China.

In June, four Kindle devices, including the Kindle Touch and Kindle Fire, received regulatory approval from the State Radio Regulation of China, according to … Read more

Best Buy's Richard Schulze is ready to make his buyout bid for the company he founded.

By the end of this week, Schulze is expected to make a $5 billion to $6 billion offer for Best Buy, the Star Tribune is reporting, citing unidentified sources who claim to have knowledge of his plans. Last week, Schulze reportedly inked deals with private equity firms and bankers to help him finance the deal.

Schulze founded Best Buy in 1966. Over the summer, he submitted plans to buy out Best Buy for between $24 and $26 a share, representing a 36 percent … Read more