Tag Archives: Amazon

(Bloomberg) — Bitcoin soared on Monday to approach $40,000, a rally some attributed to traders exiting bets on declines as well as ongoing speculation over Amazon.com Inc.’s potential involvement in the cryptocurrency sector. The largest crypto rose as much as 15% to $39,681 before paring some of the climb to trade at about $38,600 as of 7 a.m. in London. Other virtual coins also rallied, including second-ranked Ether. “The extent of the jump was probably driven by over-leveraged… Source link

The coming week will be the most important of this quarter’s earnings season — even if later weeks beat it on quantity, it will be nearly impossible to top this slate in terms of dollars and attention. That is because all of Big Tech will report, and those five companies — Google parent Alphabet Inc. GOOGL GOOG, e-commerce and cloud-computing powerhouse Amazon.com Inc. AMZN, iPhone maker Apple Inc. AAPL, … Source link

By Ben Klayman DETROIT (Reuters) -Electric car startup Rivian said on Friday it has closed a $2.5 billion fundraising round led by investors Amazon.com Inc , Ford Motor Co and T. Rowe Price. The announcement came the day after the California-based company said it was exploring building a second U.S. assembly plant. Reuters, citing unnamed sources, reported on Thursday that Rivian’s planned plant, dubbed “Project Tera,” will include battery cell production. “As we near the start of vehicle… Source link

Soon after Amazon (AMZN) chairman and founder Jeff Bezos returned to Earth from space on Tuesday, the billionaire received sharp criticism from progressive Senator Elizabeth Warren (D-MA) contrasting the low tax bills paid by him and Amazon with those borne by everyday Americans who “keep this country running.” The criticism came in response to remarks made by Bezos thanking Amazon customers and employees whose purchases and work “paid for” the space expedition, which was carried out by… Source link

Since Google launched its self-driving car project in 2009, the biggest challenge has been one of technology: can it be safe enough to deploy at scale? That dispute is over. Google’s project, now branded Waymo, has experienced only minor incidents — about once every 210,000 miles — since 2019 when it began operating a driverless service in Phoenix, Arizona. Cruise, its GM-backed rival, received a permit last month to begin commercial operations in its home city, San Francisco. Both… Source link

(Reuters) – The U.S. Consumer Product Safety Commission (CPSC) said on Wednesday it has sued Amazon.com Inc to force the retailer to recall hundreds of thousands of hazardous products that it had distributed on its platform. By a 3-1 vote, the CPSC voted to file an administrative complaint saying the Seattle-based e-commerce giant was legally responsible to recall the products as they posed a serious risk of injury or death to consumers. The products included 24,000 carbon monoxide detectors… Source link

Big Tech is once again in Washington’s crosshairs. On Friday, President Biden called on the Federal Trade Commission and Department of Justice to enforce existing rules and establish new ones that could interfere with the market domination of America’s biggest tech firms. The executive order from Biden calls on the FTC to establish stricter rules over mergers, making it harder for larger tech companies to swallow up their smaller competitors — just like Facebook has with Instagram and… Source link

Amazon (AMZN) officially has a CEO not named Jeff Bezos as of Monday (it’s Andy Jassy), but a stock price that’s acting like it normally does: moving up and to the right.  Shares of the tech beast have surged 14% to $3,642 in the past month in the lead-up to Jassy assuming the CEO mantle from the soon-to-be astronaut Bezos. As of Tuesday afternoon trading, Amazon’s ticker page was the most trafficked on the Yahoo Finance platform — beating out Didi (stock down 21% after a China crackdown… Source link

Topline Proposed anti-doxxing laws could soon make Hong Kong an unsustainable place to do business, warned an industry group representing some of the world’s largest tech companies—including Amazon, Apple, Google, and Facebook—in the latest sign of growing dissatisfaction as Beijing tightens its hold on the city. Hong Kong’s anti-doxxing law has been criticized as overly restrictive. getty Key Facts In a letter to Hong Kong’s data protection commissioner seen by… Source link

On July 5, Jeff Bezos will officially step down as CEO of the company he founded in 1994. Amazon (AMZN) will continue to exist, of course: It’s one of the most highly valued publicly traded companies in the world with a market capitalization of $1.7 trillion. But Bezos’ decision to leave the post, nevertheless, marks a new era for the e-commerce giant. The richest person on Earth, Bezos kick started the e-commerce revolution, forcing rivals like Walmart (WMT) to jump into the arena or be… Source link