Category: Amazon
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Amazon wins partial dismissal of US antitrust lawsuit By Reuters
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Written by Judy Godoy (Reuters) – Amazon.com Inc has won the partial dismissal of a lawsuit filed by the U.S. Federal Trade Commission accusing it of maintaining illegal monopolies, although details of the ruling issued by a federal court in Seattle on Monday were not immediately clear. The Federal Trade…
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Beds sold at Amazon, Walmart recalled due to collapse hazard
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Nearly 138,000 platform beds sold at major retailers including Amazon and Walmart across the United States and Canada are being recalled because they can collapse, posing a risk of falls and injury. CVB Inc., a Utah-based importer, is recalling Lucid-branded platform beds with square padded headboards, it said Thursday. Notifications…
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Amazon names veteran Samir Kumar as new India head By Reuters
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Written by Sai Ishwarbharat B and Varun Vyas Heppalalu (Reuters) – Amazon.com Inc appointed Sameer Kumar as its new India chief on Wednesday, handing the reins to a 25-year veteran as the e-commerce giant faces stiff competition and regulatory pressure in the country. Kumar was part of the team that…
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Factbox-What are India’s antitrust findings against Amazon, Flipkart By Reuters
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Written by Aditya Kalra NEW DELHI (Reuters) – India’s antitrust investigation has found that Amazon.com Inc and Walmart Inc’s Flipkart violated local competition laws by giving preference to some sellers, prioritizing some listings and cutting product prices sharply to the detriment of other companies. Here are the key findings of…
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Exclusive-India accuses Samsung, Xiaomi of colluding with Amazon, Flipkart By Reuters
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Written by Aditya Kalra NEW DELHI (Reuters) – Samsung, Xiaomi and other smartphone makers colluded with Amazon.com Inc and Walmart Inc’s Flipkart to launch products exclusively on the e-commerce companies’ Indian websites in violation of antitrust laws, according to regulatory filings seen by Reuters. Reuters reported this week that antitrust…
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Exclusive-Chinese entities turn to Amazon cloud and its rivals to access high-end US chips, AI By Reuters
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By Eduardo Baptista, Fanny Botkin and Karen Freifeld BEIJING/SINGAPORE/NEW YORK (Reuters) – Chinese state-linked entities are using cloud services provided by Amazon.com Inc or its rivals to access advanced U.S. chips and artificial intelligence capabilities they could not otherwise obtain, recent public tender documents show. The US government has restricted…
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Amazon stock tumbles 8% as profit, revenue outlook disappoints
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Amazon (AMZN) stock fell 8% in afternoon trading Friday after the retail and cloud giant delivered current-quarter forecasts on Thursday that missed expectations on both the top and bottom lines. The disappointing returns were compounded by a weak July jobs report, which sent the tech world and the broader market…
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US agency puts onus on Amazon for sale of hazardous third-party products By Reuters
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Amazon.com Inc is liable for dangerous products sold by third-party sellers on its platform under federal safety law and bears legal responsibility for recalling them, the U.S. consumer watchdog said Tuesday. The Consumer Product Safety Commission said it has ordered the e-commerce giant to propose remedial plans to notify consumers…
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NBA scores $76 billion deal with Amazon, Comcast, and Disney
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The National Basketball Association has announced new long-term television deals with Walt Disney Co., Comcast and Amazon.com Inc., rejecting efforts by Warner Bros. Discovery Inc. to retain decades-old broadcast rights. The combined agreements are expected to generate $76 billion in league fees over its 11-year history — nearly triple the…
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Amazon CEO Andy Jassy: Hunger to learn determines career success
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How you respond when you’re told you need to improve your skills—even though you’ve been doing your job for years—will likely determine the trajectory of your career. At least, that’s what Amazon CEO Andy Jassy says. Of all the tech giants 16 Principles of Leadership In an article written by…
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Amazon CEO Andy Jassy: Hunger to learn determines career success
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How you respond when you’re told you need to improve your skills—even though you’ve been doing your job for years—will likely determine the trajectory of your career. At least, that’s what Amazon CEO Andy Jassy says. Of all the tech giants 16 Principles of Leadership In an article written by…
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Bernie Sanders: Amazon warehouse workers get injured at an ‘outrageous level’ during Prime Day
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It’s the most wonderful time of the year. Not Christmas, but Amazon Prime Day. At least if you’re a consumer taking advantage of the deals offered by the e-commerce giant, which ranks second on the Fortune 500. And it’s especially lucrative for Amazon, which in 2023 recorded $12.7 billion in…
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Jeff Bezos to divest $5bn of Amazon shares after stock reaches record high
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Amazon.com Inc. founder and CEO Jeff Bezos is set to sell about $5 billion worth of shares in the e-commerce giant, according to a regulatory filing disclosed after market hours on Tuesday. The announcement comes after Amazon stock hit an all-time high of $200.43 during the trading session. The proposed…
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Talen asks US regulators to reject challenge to Amazon data center deal By Reuters
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Written by Leila Kearney NEW YORK (Reuters) – Talen Energy Inc. has asked U.S. regulators to dismiss a challenge to its recent data center deal with Amazon.com Inc. that is being challenged by a group of electric utility companies that say the deal could raise consumers’ electricity bills, according to…
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EU asks Amazon for more info on Digital Services Act compliance By Reuters
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BRUSSELS (Reuters) – The European Commission said on Friday it had asked Amazon.com Inc. to provide more information on the measures the U.S. e-commerce giant has taken to comply with its obligations under the Digital Services Act. “In particular, Amazon is requested to provide detailed information on its compliance with…
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Amazon lures cofounders from startup Adept to bolster AI efforts By Reuters
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By Greg Bensinger and Crystal Ho (Reuters) – Amazon.com Inc has hired the founders and some of its team members of artificial intelligence startup Adept, a move that mirrors rival Microsoft Corp (NASDAQ:MSFT.O), as it seeks to combat the perception that it is playing catch-up in AI. Adept said in…
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Amazon says Kuiper satellite production delayed; beta tests to start next year
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dima_zel/iStock via Getty Images Amazon (NASDAQ: AMZNAmazon said Thursday that the production launch of its Kuiper Project satellites will be delayed and will begin in the fourth quarter, with trial testing scheduled for next year. Involved rose 2.1% On Thursday, it hit a new 52-week high, a day after surpassing…
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Why Amazon Stock Popped on Wednesday
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shares Amazon (Nasdaq: AMZN) It rose on Tuesday, adding up to 4.5%. As of 2:10 PM ET, the stock was up 4.1%. There were a couple of stimuli that were sent E-Commerce Titan top. One was a bullish outlook from a Wall Street analyst. The other was a windfall on…