The five most important retail tech news stories of the week

It’s Friday, the week is nearly done, so let’s kick back and reflect on another eventful week for the retail technology space. Here's your briefing on some of the most important and interesting stories from the past five days.

1. New York takes a stand against cashless stores

New York City Council has voted to ban cashless retail and food stores.

2. Sainsbury's aims for net zero status by 2040

Sainsbury's will spend £1 billion to reduce its net carbon emissions to zero over the next 20 years.

3. Commonwealth Bank of Australia ups stake in Klarna

Swedish buy now, pay later firm Klarna has officially launched down under. It has also bagged a further $200 million investment from Commonwealth Bank of Australia (CBA).

4. Change at the top as Mark Ibbotson exits Walmart

Mark Ibbotson, Executive Vice President of Walmart’s Realty and Central Operations divisions, will depart the US retail giant at the beginning of February.

5. UPS invests in Arrival and places major electric vehicles order

UPS has made a minority investment in electric vehicles startup Arrival.

It has also announced a commitment to purchase 10,000 EVs from the company, with priority access to buy additional ones. These will be deployed in Europe and North America.