Hey there!
Who else is in disbelief that it’s already May? It’s really feeling like we’re in a bizarre, unfit-for-TV episode of The Twilight Zone these days.
On to the news: There’s a lot to cover in today’s ECF News Cart. From Amazon under fire for allegedly misleading Congress to major layoffs at Airbnb, there is a lot going on in the industry right now.
It was a big week for Shopify who, along with its merchants, saw very strong growth amid COVID-19. It also released a new mobile app last week dubbed ‘Shop’, which has the potential to be a major destination for shoppers going forward.
Enjoy the headlines below!
– Andrew
Shopify Launches New Mobile Shopping App Dubbed ‘Shop’
Shopify Announces Strong Q1 Financial Results
House Judiciary Committee asks Jeff Bezos to testify about whether Amazon misled Congress
Amazon reports earnings, plans to spend all Q2 profits on coronavirus response
Alphabet stock rises more than 7% as ad slowdown turns out to be less than feared
Google confirms May 2020 core algorithm update (Hat tip to JPJi)
Small business loans above $2 million will get full audit to make sure they’re valid, Mnuchin says
Kickstarter plans layoffs after new projects on the site drop off by 35 percent
Federal Reserve to Launch Main Street Lending Program
Airbnb cuts 1,900 jobs, 25% of the company’s workforce
J.Crew has filed for bankruptcy
The iconic brands that could disappear because of coronavirus
People are Panic-Buying Meat, Toilet Paper…and Pelotons?
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