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World’s Top-Ranked Crypto Exchange Adds 240,000 Users in One Hour

The world’s biggest cryptocurrency exchange keeps getting bigger. Hong Kong-based Binance.com is adding “a couple of million” registered users every week, with 240,000 people signing up in just an hour on Wednesday, Chief Executive Officer Zhao Changpeng said in an interview with Bloomberg Television. Demand is so high that the company is limiting new customers, he said, though Binance may fully reopen in the coming weeks. “We did not expect this kind of growth to be honest,” Zhao said from Tokyo on Thursday. Binance was the world’s most active crypto…

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Target to Buy Shipt for $550 Million in Challenge to Amazon

Target Corp. agreed to purchase grocery-delivery startup acquired software company Grand Junction, which also manages local and same-day deliveries. Target now offers same-day delivery in New York City and can send orders from 1,400 of its stores. Competition in this space is growing fiercer, though, as rivals Wal-Mart Stores Inc. and Best Buy Co. also apparel, have sent retailers scrambling to improve their online offerings. E-commerce sales are up about 17 percent this holiday season, according to Adobe Systems Inc., and online merchants racked up a record $6.59 billion on…

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Alibaba Singles’ Day Sales Hit $8.6 Billion in First Hour

Jack Ma is using this year’s event as a testing ground for his plans to revamp China’s $4 trillion traditional retail sector with technology, an experiment that could help the behemoth gain an edge in China’s saturated retail market. “The work that’s been done in the integration of offline and online, not just in terms of the technology integration, but the data and efficiencies for brands and the consumer through personalization has been enormous,” Alibaba President Mike Evans said in an interview on Bloomberg TV. “We see the impact of…

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Amazon Threat Causes Shakeout in the Health-Care Industry

McKesson Corp., Cardinal Health Inc. And late in the day, shares of CVS Health Corp. Executives in the drug industry say that Amazon could use its expansive online reach and its logistical muscle to threaten companies that ship and sell medicines to consumers and cut pricing deals with drug makers. “Size and scale-wise, they can disrupt anywhere they want to disrupt,” said Chip Davis, president of the Association for Accessible Medicines, a trade group for generic medication, in an interview Thursday. Competitive Squeeze A deal for Aetna could conceivably move…

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