BERLIN—Workers at some Amazon warehouses in Germany began strike action on Monday, services sector union Verdi said, as part of a long-running battle with the U.S. tech giant over better pay and working conditions. Germany is Amazon’s biggest market after the United States, and Verdi, a leading services sector union, has been organising strikes on…
Amazon Workers in Germany to Strike for Better Pay
November 1, 2021
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Amazon Analysts Break Down Q3 Earnings: ‘Would Be Buyers on Weakness’
Amazon.com Inc. (AMZN) shares dropped 2.9 percent on Friday after the company reported an ugly earnings miss and disappointing guidance. Amazon reported third-quarter adjusted earnings per share (EPS) of $6.12 on revenue of $110.8 billion. Both numbers missed consensus analyst estimates of $8.92 and $111.6 billion, respectively. Revenue was up 15 percent from a year…
Amazon’s Ad Business Growth Outpaces That of Google, Facebook but Slowest in 5 QTRs
Amazon.com, Inc.’s advertising business grew at the slowest pace in five quarters but still delivered a higher growth rate than those of key big-tech rivals Alphabet Inc. and Facebook Inc. as it did a better job facing privacy changes by tech giant Apple Inc. What Happened The e-commerce giant made $8.09 billion from its advertising…
Wall Street Shakes Off Amazon, Apple Weakness to End Modestly Higher
October 30, 2021
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NEW YORK—U.S. stocks shook off early declines and closed out the last trading day of the month with modest gains on Friday as a rise in Microsoft helped offset declines in Amazon and Apple after disappointing quarterly earnings from the online retailer and iPhone maker. Microsoft Corp.’s shares closed at a record high of $331.62…
Amazon Discloses 20 Percent Stake in EV Maker Rivian
October 29, 2021
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Amazon.com Inc., an early backer of Rivian Automotive, now owns about a fifth of the electric-truck maker, the e-commerce giant disclosed in a quarterly filing on Friday. Ford Motor Co., which has a strategic relationship with Rivian, removed a representative from the startup’s board earlier this month. At the end of the third quarter, Amazon…
Amazon Labor Shortage Hinders One-Day Delivery Ambitions
LOS ANGELES—Labor shortages have cut into Amazon.com Inc.’s plan to make one-day delivery standard for members of its Prime loyalty club, delaying its bid to cement its lead in e-commerce and sending costs surging ahead of the all-important holiday season. The comments from the world’s biggest online retailer come as staffing emerges as a significant…
Futures Slip After Apple, Amazon Results Reignite Supply, Labor Woes
October 29, 2021
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The S&P 500 and the Nasdaq indexes looked set to drop from record highs on Friday, as results from mega-cap firms Apple and Amazon.com reignited concerns of labor and supply shortages that have been at the forefront of this quarterly earnings season. Market participants have been closely watching how corporate America navigates through these challenges…
Amazon, Apple Weigh on Stocks, Rate Hike Hopes Underpin Euro
October 29, 2021
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LONDON—Amazon and Apple earnings took the froth out of U.S. stock futures and world equities on Friday, though the euro held near one-month highs on euro zone rate rise hopes. Amazon.com reported a slump in profit after the bell on Thursday that it expects will continue through the holiday quarter, as higher pay to attract…
Amazon’s Holiday-Quarter Forecast Disappoints as Labor, Supply Issues Mount
Amazon.com Inc. on Thursday reported a slump in profit that it expects will continue through the holiday quarter, as higher pay to attract workers and other operational disruptions diminish the company’s windfall from online shopping. Shares fell 4 percent in after-hours trade. After a year of blockbuster results, the world’s largest online retailer is facing…
Blue Origin Planning First Mixed-Use Business Park in Space
Blue Origin and Sierra Space have upped the space game with the announcement of a mixed-use business park, floating in low Earth orbit, slated to be launched sometime in the second half of this decade. The 32,000-square-foot Orbital Reef space station is designed with multiple purposes, and will “provide anyone with the opportunity to establish…
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