German private-sector watchdog accuses Zalando of false advertising

A German private-sector competition watchdog has filed for an injunction against online fashion retailer Zalando, it said on Thursday, accusing the group of false advertising. The Centre for Protection against Unfair Competition said in a statement that Zalando had in its online shop misrepresented how many pieces of certain items of clothing were still available, creating the impression that customers needed to act fast to buy them.

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Net-A-Porter founder leaves abruptly ahead of merger

By Astrid Wendlandt and Silvia Aloisi PARIS/MILAN (Reuters) – Natalie Massenet, founder and executive chairman of online fashion group Net-A-Porter, said on Thursday it was the right time to leave after she resigned abruptly ahead of the completion of a planned merger with Italy's Yoox. Regarded as the fashion visionary of the soon-to-be-combined business, she was to become its executive chairman and oversee editorial content, one of Net-A-Porter's main strengths

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Texas teen fatally shoots himself while taking selfie

AUSTIN, Texas (Reuters) – A 19-year-old Texas man who was posing with a gun for a social media selfie photo accidentally shot himself and died from the wounds, Houston police said on Wednesday. “A witness told police he was taking a selfie with a gun and the gun accidentally discharged,” Houston police spokeswoman Jodi Silva said. The identity of the man killed in the Tuesday incident in Houston has been withheld pending an investigation by the coroner.

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Founder of British online retailer ASOS steps down as CEO

By James Davey LONDON (Reuters) – Nick Robertson, the founder of British online fashion retailer ASOS, has stepped down as chief executive after 15 years in which he transformed the internet start-up into a retail powerhouse with millions of fans around the world. ASOS, popular with Internet savvy twentysomethings and high-profile supporters such as British singer Rita Ora and U.S.

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Rocket Internet to close grocery delivery service in Germany

German start-up investor Rocket Internet is closing down its grocery delivery service Shopwings in Germany due to a lack of cooperation from retailers and regulatory hurdles. A Rocket Internet spokesman said the business that only launched last year in Berlin and Munich would focus instead on expanding in Australia as well as in Malaysia, Thailand, Vietnam, Indonesia and the Philippines. Europe's largest Internet company prides itself on needing only 100 days to go from concept to launch of a new firm, establishing dozens of start-ups from online fashion to home furnishings and food delivery since it was founded in 2007.

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Uber settles wrongful death lawsuit in San Francisco

By Dan Levine SAN FRANCISCO (Reuters) – Ride service Uber has reached a tentative settlement in a lawsuit brought by the family of a 6-year-old girl who died in a San Francisco car accident, according to court filings. The girl, Sofia Liu, died after she, her younger brother and their mother were hit by a car in a San Francisco cross-walk on New Year's Eve in 2013

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Online store merger prods luxury goods makers toward Internet

By Astrid Wendlandt and Pascale Denis PARIS (Reuters) – The merger of the world's two biggest online fashion stores, Net-a-Porter (NAP) and Yoox, sends a warning to luxury brands to embrace the Internet with more vim after years of resistance. “It looks like they are scared to try things out.” Sharma said many brands' websites mimicked the appearance of Net-a-Porter's black-and-white portal.

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As Amazon parties on, some large fund managers take their leave

The average large-cap fund that holds Amazon has 1.4 percent of its assets in the stock, down 23 percent from this time last year, according to the latest available Lipper data. They include such well-known names as Fidelity Contrafund, Washington Mutual Investors Fund, Touchstone Sands Select Growth fund and the T.

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Facebook revenue growth slows, costs weigh on profit

(Reuters) – Facebook Inc posted its slowest growth in quarterly revenue in two years and higher spending on research and development ate into profits. Facebook has warned of heavy investments in 2015 as it steps up efforts to expand a collection of products that include messaging service WhatsApp, photo-sharing service Instagram and virtual reality headset maker Oculus Rift

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