Amazon sales soared over the Christmas season, rising 21% from the previous year, in sharp contrast to weakness reported by other retailers. The e-commerce juggernaut said it earned $87bn in sales in the last three months of 2019, well ahead of analyst expectations. The news sent the firm’s share price up more than 10% in after-hours trade. If prices hold it would return Amazon’s market valuation to above $1tn, joining Microsoft, Apple and Google.
Amazon founder and chief executive Jeff Bezos said on Wednesday from New Delhi that his e-commerce behemoth will invest $1 billion to bring small and medium businesses in India online. He also pledged that his company will export $10 billion worth of “Made In India” goods by 2025. The news—which was announced during Amazon Smbhav, a two-day summit aimed at bringing business owners together—was met with applause.
Amazon will no longer build its additional headquarters in New York City. The decision announced Thursday comes after an outcry from local politicians, union leaders and community organizers who had organized weeks of protests against massive financial breaks promised to Amazon, one of the world’s most valuable companies. It is also a big reversal of its much-hyped decision to build the campus in Queens after a highly publicized nationwide search that lasted over a year. Amazon said it will not search for a new location for another HQ to replace New York City.
Amazon is defending its facial recognition technology after the American Civil Liberties Union (ACLU) says it reads ‘like a user manual for authoritarian surveillance.’ Amazon originally pitched the technology to law enforcement agencies to aid criminal investigators by recognizing suspects in photos and videos. The ACLU claims the technology ‘poses a grave threat’ to privacy.
The world’s richest couple revealed the terms of their divorce on Thursday as Jeff and McKenzie Bezos – seen as the “parents” of the global online retail giant and media company Amazon – wrapped up their painful split. MacKenzie, now the ex-wife of Amazon’s founder and chief executive officer Jeff, will give 75% of their stake in the company and all voting rights to the billionaire entrepreneur. Jeff and MacKenzie’s total stake in Amazon of $143bn had made them the richest couple in the world.
Amazon announced on Thursday its plan to buy online pharmacy PillPack in a move into the healthcare industry. The announcement caused the stocks of other pharmacy chains to tumble. Amazon is looking to expand its Delivery Service Partners program by allowing small business owners to build their own company with up to 40 delivery vehicles.
An investigation has opened after gold miners allegedly murdered uncontacted members of an Amazonian tribe after some heard the miners bragging about the killings in a bar. The attack allegedly happened last month, and if reports come back true, would mean 1/5th of the entire tribe have been killed.
Amazon is planning to charge $2.8million for advertising packages which include 30-second spots during their stream of the NFL games. Amazon reportedly paid a whopping $50million for the rights to stream this season’s 10 Thursday night games, overtaking Twitter who paid $10million last year. Live streamed games will only be available to Amazon Prime subscribers.