Weekly roundup in tech and retail

News and commentaries

Here’s the most relevant news this week in technology and retail.

In Tech:

  1. Amazon announces streaming service Fire TV to compete against Google’s Chromecast, Roku and Apple TV
  2. Microsoft slashes prices on cloud services by 35%-65% in response to recent price cuts from Google and Amazon AWS
  3. Square now accepts Bitcoins which can help push for more mainstream acceptance of the crypto-currency
  4. Microsoft introduces the Cortana personal assistant years after Siri and Google Now
  5. Google splits into two: GOOG (Class C, non-voting) and GOOGL (Class A) for Sergey Brin and Larry Page to maintain control

In Retail:

  1. Prada SpA falls due to slowing luxury sales growth, optimistic in new stores and improving its supply chain
  2. Alibaba buys 26% stake in Intime Retail, moves into brick and mortar stores
  3. UK online retailer Asos first half earnings down due to expansion investments in new stores and product offerings
  4. Marks and Spencer to open 250 stores over the next 3 years to grow global sales by 25% and profit by 40%
  5. Hudson Bay Company shares, owner of Saks Fifth Avenue, fall 9% as the company forecasts weaker-than-expected 2014 earnings and plans to spend more on e-commerce
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