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Amazon to open first Chicago center
Seattle -- Amazon continues to expand its already formidable fulfillment center.
The online giant plans to open a nearly 500,000-sq.-ft. center in Joliet, Illinois. The site, which will create 1,000 full-time jobs when it opens, is the company’s first in the state.
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Alibaba in new omnichannel push with retail deal
New York -- Alibaba Group Holding Ltd. has entered into its biggest deal ever — and this one is in the brick-and-mortar arena.
The Internet giant has invested approximately $4.63 billion in Chinese consumer electronics retailer Suning, which operates more than 1,600 stores across 289 cities in China. The investment gives Alibaba a 19.9% stake, making it the second largest shareholder in the company.
In return, Suning will invest up to $2.28 billion to subscribe to new shares of Alibaba.