Tag Archives: Amazon

(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

WASHINGTON — Washington is abuzz with an ambitious new antitrust effort to rein in the power of tech industry power players like Apple, Amazon, Google, and Facebook — and the effort could limit their ascent in the health care industry. Tech companies are already major players in the health care space — think Amazon’s decision to launch its own pharmacy, or Google’s acquisition of Fitbit — and they have their sights set even bigger. If major antitrust reform passes, it could… Source link

BMO Managing Director and Senior Analyst Simeon Siegel joined Yahoo Finance Live to discuss Nike’s big stock spike after the sportswear giant crushed Q4 earnings. “When we can talk about a company the size of Nike scale, still blowing away numbers from a revenue perspective, but also from a margin perspective, they really gave you a lot to choose from,” Siegel said. Nike posted Q4 revenue of $12.3 billion up 96% Y/Y, adjusted earnings per share of 93 cents. Nike Direct sales also increased… Source link

The UK Competition and Markets Authority (CMA) said Friday that its formal inquiry, which builds on a preliminary probe launched last May, could force Amazon (AMZN) and Google (GOOGL) to change the way they deal with fake reviews or result in court action. “Our worry is that millions of online shoppers could be misled by reading fake reviews and then spending their money based on those recommendations,” CMA chief executive Andrea Coscelli said in a statement. “Equally, it’s simply not fair if… Source link

This includes where the same users “have reviewed the same range of products or businesses at similar times to each other and there is no connection between those products or businesses or where the review suggests that the reviewer has received a payment or other incentive to write a positive review”. Source link

The Amazon logo displayed on a smartphone and a PC screen. Pavlo Gonchar | LightRocket via Getty Images LONDON — Britain’s competition regulator on Friday launched a formal probe into Amazon and Google over concerns they haven’t done enough to tackle fake reviews. “We are investigating concerns that Amazon and Google have not been doing enough to prevent or remove fake reviews to protect customers and honest businesses,” Andrea Coscelli, chief executive of the CMA, said in a statement. “It’s… Source link