FREMONT, Calif—Zoox, a self-driving technology firm owned by Amazon.com Inc, said on Tuesday it was gearing up to launch its robotaxi business, self-certifying that its vehicle with no pedals or steering wheel meets U.S. federal regulations and applying for a permit in California to test-drive it. “We really invested the extra time and resources to…
Amazon-Owned Self Driving Firm Zoox Seeks to Test Robotaxi in California
Read Rosenblatt’s Take on Amazon
Rosenblatt analyst Barton Crockett updated Amazon.com Inc. for the 20–1 share split completed on June 6. Crockett also reduced its split-adjusted PT by 26 percent to $107, near current trading levels. He reiterated a Neutral rating. Crockett continued to see consensus long-term sales estimates as too high, mainly from what he saw as excessive long-term optimism for online retail. Amazon’s…
US Supreme Court Rules Southwest Airlines Cannot Force Wage Suit Into Arbitration
Southwest Airlines Co. cannot force a baggage handler’s class-action lawsuit over overtime pay into private arbitration, the U.S. Supreme Court ruled on Monday in a decision with costly potential implications for companies including Amazon.com Inc. and Uber Technologies Inc. that employ many transportation workers. The justices ruled 8-0 in a decision written by Justice Clarence…
Woman Says Amazon.com Fired Her Because She Got ‘Long COVID’: Lawsuit
May 4, 2022
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NEW YORK—A former Amazon.com Inc employee sued the online retailer on Monday, saying it wrongly fired her and demanded she repay wages after she contracted “long COVID.” Brittany Hope, 29, a former brand manager for Amazon’s fashion line The Drop in Manhattan, is seeking damages for alleged violations of federal, state, and New York City…
Amazon Plans to Invest $1 Billion Into Its Industrial Innovation Fund
Amazon.com, on April 21, announced the launch of its “Amazon Industrial Innovation Fund,” a $1 billion venture investment program focused on developing supply chain management, customer fulfillment, logistics, and warehouse tech. The new venture investment program will back companies working on technology to increase e-commerce delivery speeds and improve the experience of workers in warehousing…
Injuries at Amazon Warehouses Rose 38 Percent In 2021: Labor Activists
Amazon.com Inc. warehouses in the United States, which employ millions of Americans, recorded a 38 percent rise in reported workplace injuries between 2020 and 2021, according to a new report released on April 12 by the Strategic Organizing Center (SOC), a labor activism group. Former Amazon CEO Jeff Bezos pledged in a 2020 letter to…
Amazon Agrees to NYC Union Election Terms, Setting Stage for 2 Votes in March
The U.S. National Labor Relations Board said Wednesday that Amazon.com Inc. and a group of New York workers have agreed tentatively on terms for a union election, and an organizer said the vote would take place late next month. The agreement lays out the election’s timing and how to vote, the NLRB said, without providing…
Judge Dismisses Fired Amazon Worker’s Lawsuit Alleging Discrimination
A federal judge on Monday sided with Amazon.com Inc in dismissing a discrimination lawsuit that workplace organizer Christian Smalls had filed against his former employer. U.S. District Judge Rachel Kovner rejected Smalls’ claim that Amazon had fired him because he is Black and had opposed discriminatory COVID-19 policies. Smalls’ allegation that Amazon subjected a largely…
Here’s Why Analysts Are Bullish on Amazon Post-Q4
Analysts bumped up price targets on Amazon.com Inc. following fourth-quarter results. Piper Sandler analyst Thomas Champion raised the price target to $3,900 from $3,875 (40.4 percent upside) and reiterated an Overweight rating. The headline results were mixed with revenue 1 percent below Piper’s forecast and EBITDA better. However, the analyst notes that Web Services growth…
Amazon and Stellantis Partner to Deploy Smarter Cars, Cleaner Vans
Amazon.com Inc and Stellantis NV said Wednesday they will collaborate to develop cars and trucks with Amazon software in the dashboards, and deploy electric vans made by Stellantis on Amazon’s delivery network. The agreements expand Amazon’s efforts to get a bigger foothold in the transportation industry, and could help Stellantis close the gap with Tesla…
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