Zhimeitong | International Highlights

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[Amazon CEO: Booming or over-expanding during the epidemic, the company is slowing down the pace of hiring] Amazon CEO said that booming during the epidemic may lead to its over-expansion, and the company is slowing down the speed of recruiting new employees.

Amazon has gone on a hiring spree in recent years to meet consumer demand, and much of that growth has been in the company's fulfillment network. Jassy told the Code Conference symposium that he doesn't think Amazon will continue to hire at the same pace, "but we'll still be hiring."

In the quarter ended in June, Amazon reported slowing sales and a second straight net loss, as the company faces persistent weakness in its retail business after a boom during the pandemic. In the fiscal second quarter, the company's sales rose 7.2% year over year to $121.2 billion. In the fiscal first quarter, the company's sales rose 7.3% year over year, its slowest sales growth rate in about 20 years.

[Ministry of Commerce: The U.S. Section 301 tariff measures against China are not good for both China and the United States and the whole world] A spokesman for the Ministry of Commerce said that China always believes that the United States’ Section 301 tariff measures against China are not good for China and the United States, and are not good for the whole world. In the current situation of high inflation, the U.S. decision to extend tariffs on China is bound to make many U.S. companies and consumers suffer greater losses.

01. North America

[Goldman Sachs raises Fed rate hike expectations: 75 basis points this month] Goldman Sachs economists raised their expectations for the pace of Fed rate hikes, and now expect the Fed to raise rates by 75 basis points at this month’s meeting, and then raise interest rates in November 50 basis points, compared with previous forecasts of 50 basis points and 25 basis points of rate hikes, respectively. Economists such as Jan Hatzius said Fed officials have been hawkish lately, appearing to suggest that progress in reining in inflation has not been as consistent or rapid as they had hoped. Tighter policy will keep economic growth below potential in the second half of the year.

[Amazon CEO: Does not plan to force employees to return to the office] The Amazon CEO said the company does not plan to force employees to return to the office.

"We have no plans to ask employees to return," Jassy said at the Code conference in Los Angeles. "We don't do that right now, but as we learn more, we'll adjust accordingly on a case-by-case basis."

[Shopify hires Morgan Stanley banker Hoffmeister as CFO] Shopify has hired Morgan Stanley investment banker Jeff Hoffmeister as its next CFO. Hoffmeister, who has worked at Morgan Stanley's technology investment banking group for more than two decades, will take over from current CFO Amy Shapero on Oct. 27, the Ottawa-based company said in a statement Thursday.

Shopify also named its vice president of product as chief operating officer, effective immediately. He succeeds Toby Shannan, who is retiring and plans to join Shopify's board. The leadership change comes as Shopify grapples with slowing e-commerce growth, mass layoffs and a slump in its share price.

"The change was a bit of a surprise, and the timing raises questions about third-quarter trends and whether we'll see another reset in the quarters ahead," Barclays analysts said in a note to clients on Thursday. .” He said the change was unexpected, as Shopify executives will be present at various conferences this week, and the announcement distracts investors from commenting on the company’s future.

[Snap CEO's internal email announces "recovery" plan, targeting $6 billion in revenue next year] After experiencing a stock price crash and brutal layoffs, Snap CEO sent a letter to all employees this week saying that the company plans to continue to expand revenue and user base next year .

In a Sept. 6 email to employees, Spiegel said the company aims to grow Snapchat’s user base by 30 percent to 450 million by next year, driving revenue growth to $6 billion by 2023. According to the plan, $350 million of the revenue will come from the recently launched Snapchat paid services that unlock additional features of Snapchat. Snapchat is expected to have 4 million paying users by the end of the year.

[Netflix is ​​reported to be taking steps to cut costs, including downsizing real estate, hiring more junior employees, etc.] In the case of slowing user growth, Netflix wants to save expenses, and the company is reviewing its business for opportunities to cut costs. The streaming giant is reported to be taking a series of measures to reduce spending, including downsizing real estate, limiting corporate gift spending, controlling cloud computing costs and hiring more junior staff. Netflix is ​​trying to better control rising cloud computing costs with longtime cloud computing partner Amazon Web Services, the sources said. Netflix hopes to keep costs from skyrocketing as it expands to 500 million global subscribers over the next three years, the sources said.

[Former Disney CEO assists Musk: There are indeed many fake accounts on Twitter] The former CEO of Disney said that as early as 2016, Disney had discovered that a large part of Twitter users were fake.

At present, Tesla CEO Elon Musk happens to be in a lawsuit with Twitter over the acquisition agreement and the number of fake users. At this sensitive point in time, the former CEO of Disney came forward to emphasize that there are indeed a large number of fake accounts on Twitter, perhaps intentionally or unintentionally sending "assistances" to Musk.

[Google's news business "News Showcase" was forced to delay its launch in the United States by a year due to deadlock in negotiations with the media] Due to the deadlock in negotiations with some media, the launch time of Google's news business "News Showcase" in the United States It was nearly a year later than originally planned. "News Showcase" stipulates that Google pays publishers in exchange for high-quality news content. It is reported that the "News Showcase" is composed of many story pages. It introduces a concept similar to a lazy bag. Publishers are responsible for packaging news on specific topics and provide in-depth news analysis. There will also be news timelines or related articles. , and possibly other elements such as video, sound and daily briefings in the future.

02. EU region

[Energy prices soar, German natural gas companies continue to lose money] After the Ukraine crisis escalated, the West imposed unprecedented sanctions on Russia, and Germany's natural gas supply from Russia plummeted. The chief executive of Uniper, the German energy giant and Germany's largest importer of Russian gas, said the company's losses this month from replacing missing Russian gas could reach 7 billion euros. Uniper reported losses of more than 12 billion euros in the first half of the year, one of the largest losses in German corporate history. Reports that shrinking Russian supplies have forced the company to buy gas in the expensive spot market to fulfill contracts have pushed it to the brink of bankruptcy.

03. Other regions

[Australian regulator delays decision on Microsoft's acquisition of Activision Blizzard] The Australian Competition and Consumer Commission (ACCC) issued a statement saying that in response to Microsoft's acquisition of Activision Blizzard, the agency will postpone an interim decision originally scheduled for September 15 date, a new proposed date will be announced in due course. On June 20, local time, the Australian Competition and Consumer Commission launched an informal review of Microsoft's acquisition of Activision Blizzard.

【eBay cooperates with Thailand Jewelry Institute to help Thailand jewelry cross-border export】 eBay announced a partnership with the Jewelry Institute of Thailand (GIT) to help Thai gem and jewelry SMEs go global.

The partnership will enhance consumers' confidence in buying Thai gem and jewelry products on eBay, helping Thai SMEs grow their online businesses and become the world's top gem and jewelry sellers.

According to statistics, in 2021, Thai companies sold a total of 4.2 million jewelry items on eBay. eBay is also encouraging Thai jewelry sellers to open online stores on its e-commerce platform to boost sales.

[Maersk and Dubai South sign agreement] Maersk’s official website announced that Maersk and Dubai South signed an agreement to more than double its warehousing and distribution footprint in the UAE. The agreement was signed by Christopher Cook, Managing Director of Maersk UAE, and Mohsen Ahmad, CEO of Dubai South Logistics District, at the Maersk West and Central Asia regional headquarters in Dubai.

[The probability of the Bank of England raising interest rates by 75 basis points next week falls below 50%] The pricing of interest rate futures on Thursday showed that financial markets estimated that the probability of the Bank of England raising interest rates by 75 basis points next week had fallen below 50%. Interest rate swap prices show a 52.9% chance of a 50bps rate hike by the Bank of England on Sept. 15 to 2.25%, and a 47.1% chance of a 75bps rate hike, down from more than 80% earlier this week. The Bank of England raised interest rates by 50 basis points last month, the largest rate hike since 1995, and the next larger rate hike will be in 1989, except on 16, 1992, to boost the pound in response to the crisis , the UK raised interest rates twice in one day, raising interest rates from 10% to 15%, but in less than a day, they cut rates back again.

Zhimeitong | Logistics Highlights

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[FedEx Express Taiwan Taoyuan Pingzhen Station officially opened] FedEx announced the official opening of Taiwan Taoyuan Pingzhen Station. The station will significantly improve the efficiency of pickup, delivery and self-drop and pick-up in the southern area of ​​Taoyuan City, Taiwan Province. These services will enable small and medium-sized enterprises (SMEs) in Taoyuan to use FedEx services and connect with the world faster.

[FedEx Adds 4 FICP Service Markets] FedEx Express announced that it has expanded FedEx® International Connect Plus (FICP, international express logistics service) to 4 markets in the Asia Pacific, Middle East and Africa (AMEA) region, Including Indonesia, New Zealand, the Philippines and Vietnam.

[The number of ships passing through the Suez Canal and revenue in August both hit new highs] The Suez Canal set a record for the number of ships passing through the Suez Canal on August 6, with 89 ships passing through the Suez Canal that day. The number of ships passing through the Suez Canal in August this year and dollar revenue both hit record highs. During this period, a total of 2,125 ships passed through the canal, generating a revenue of US$745 million. In August last year, a total of 1,884 ships passed through the Suez Canal, and the number of ships passing through the Canal in August this year reached 2,125, an increase of 12.8%. The total net tonnage that passed through the canal in August last year was 110.2 million tons, and the total net tonnage in August this year was 127.8 million tons, an increase of 16%. In August last year, Suez Canal revenue was $562.7 million, and in August this year, it was $744.8 million, an increase of 32.4 percent.

[Baltic dry bulk index rose as Panamax prices strengthened again] The Baltic dry bulk index rose 45 points, or about 4 percent, to 1,178 on Thursday. The capesize index fell 4 points, or 0.6%, to 652. Average daily earnings for capesize vessels fell $35 to $5,407. The panamax index rose 180 points, or 11.4%, to 1,757, its sixth straight session of gains. Average daily earnings for panamax vessels rose $1,619 to $15,815. The Supramax index fell 5 points to 1,477, its tenth straight session of losses.

Zhimeitong | Domestic Highlights

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[Douyin responds to rumors of "Douyin Box suspended operation": no suspension of operations] ByteDance's independent e-commerce app "Douyin Box" is about to suspend operations. At present, ByteDance has suspended its investment in Douyin Box, and its internal operations have been suspended. For informal communication, employees can return to Douyin e-commerce and other teams through internal living water. Another source said that the internal staff of Douyin Box has begun the transfer process.

Zhimeitong | E-commerce highlights

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[eBay Canada station opens the "eBay Academy" platform for free to sellers] eBay Canada station announced that it will open the "eBay Academy" platform to sellers for free to help sellers sell better on eBay.

It is understood that eBay Academy is a self-learning platform that helps sellers sell on eBay. eBay Canadian sellers can now conduct online learning through eBay Academy at no charge.

[eBay Germany and online loan provider Iwoca launch financing solution] eBay Germany announced that the company has partnered with online loan provider Iwoca and launched its first financing solution, eBay Flexi-Kapital.

The scheme allows online retailers to obtain short-term working capital loans of between €2,500 and €1 million on the eBay e-commerce marketplace. Merchants typically have available funds within 24 hours of receiving the request.

Meanwhile, eBay sellers pay no interest, but instead pay a one-time flat fee. The loan repayment method is flexible and linked to the sales performance on the merchant's eBay platform. This means that less money has to be paid back in the months when sales are lower. Credit can also be increased flexibly in response to sudden, unexpected or seasonal changes or fluctuations in demand.

[Dunhuang Online Online U.S. Standard Line (General + Electric + Special)-JX Line] Dunhuang.com has issued a notice on the launch of the American Standard Line (General + Electric + Special) – JX (hereinafter referred to as "announcement").

The announcement shows that the reference transportation time for the US standard line (general + electricity + special) – JX line is 10-28 days, and the weight is limited to 0-5KG.

In terms of billing method, the line lifts 80G and is billed. Compared with the actual weight of the package and the volumetric weight, the larger one is calculated (the calculation method of volumetric weight is: length * width * height cm/8000 = KG); the actual weight of the warehouse is used. After reloading, the platform displays the shipping fee.

[Shopee updates important seller specifications for the third quarter for Taiwanese sellers] Shopee has consolidated all important specifications for Taiwanese sellers that will be launched on September 12, 2022. The details are as follows:

First, from September 12th, Shopee will strictly prohibit the sale of prohibited products on the Internet, and add new products to the Internet army or topic trend.

Second, from September 12th, Shopee will review violations of abuse of premium purchases, full-amount gifts, etc. to obtain product reviews.

Third, from September 12, the name of the Shopee store cannot contain sensitive words, and the account that violates the Shopee specification will be frozen.

Fourth, from September 12, Shopee will add pet health food, jewelry, and other controversial products to high-risk products.

[Shopee releases new rules for calculating platform fees, sellers only pay relevant fees for products that are not returned or refunded] Shopee releases new rules for calculating platform fees, from September 19, 2022, sellers only need to pay for products that are not returned/refunded Transaction service fee (Commission Fee) and activity service fee (Service Fee).

If a buyer requests a return/refund of some of the items in the order, the settlement service fee and/or event service fee will be calculated as follows: Applicable rate x total item price after deducting the returned/refunded item.

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