A U.S. court dismissed a lawsuit against Amazon.com Inc. on Friday that accused the company of antitrust violations for barring third-party sellers from offering better deals for their products elsewhere. Judge Hiram Puig-Lugo of the Superior Court of the District of Columbia granted Amazon’s motion to dismiss the complaint filed last year by Washington attorney…
2nd Amazon Warehouse in NYC to Hold Union Election in April
NEW YORK—A second Amazon warehouse in the New York City borough of Staten Island will have a union election in April, the National Labor Relations Board said Friday. In-person voting will be held at the facility known as LDJ5 every day from April 25–29, except for April 26, an NLRB spokesperson said. The count is…
Amazon.com Closes Deal to Buy MGM Movie Studio
WASHINGTON—Amazon.com Inc. on Thursday said it had closed its $8.5 billion deal to buy MGM, combining the fabled moviemaker behind “Rocky” and James Bond with the online retailing giant as it looks to draw consumers through more streaming video. In a statement, Amazon said it would welcome all MGM employees to the company and work…
Amazon and Rideshare Drivers Call for Pay Raise Amid High Gas Prices
REDONDO BEACH, Calif.—Dozens of Amazon and rideshare drivers gathered in front of an Amazon warehouse and Uber Greenlight hub in Redondo Beach early in the morning of March 16 and called for higher compensation as gas prices soar. At the rally, the drivers formed a caravan on Redondo Beach Avenue with signs stuck to their…
Amazon Wins EU Antitrust Nod for $8.5 Billion MGM Deal
BRUSSELS—Amazon on Tuesday gained unconditional EU antitrust approval for its proposed $8.5 billion acquisition of U.S. movie studio MGM to help it to compete with streaming rivals Netflix and Disney+. The European Commission said the deal would not pose competition concerns in Europe, confirming a Reuters story on March 9. The EU competition enforcer said…
Amazon Temporarily Relocating Employees From Downtown Seattle Office Amid Rise in Violent Crimes
Amazon is temporarily relocating employees from its downtown Seattle office due to an increase in violent crimes in the area, the company said on March 11. The tech giant’s office is located at 300 Pine Street, about a half-mile from its main headquarters on Seventh Avenue in Seattle, and roughly 1,800 Amazon employees are working there. “Given recent incidents near…
Amazon Announces 20-for-1 Stock Split, $10 Billion Share Buyback
March 11, 2022
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Amazon.com Inc. said on Wednesday its board approved a 20-for-1 split of the e-commerce giant’s common stock and authorized a $10 billion buyback plan, sending the company’s shares up 7 percent in extended trading. This is the first stock split by Amazon since 1999 and will give investors 19 additional shares for every share they…
Amazon Remains JPMorgan’s Top Overall Idea in Internet
JPMorgan analyst Doug Anmuth says Amazon.com Inc. remains his top overall idea in the internet space. The re-rating came after the Department of Commerce released Q4 U.S. e-commerce sales of $258 billion, shy of the firm’s $270 billion estimates. The e-commerce sales were due to a softer than expected holiday season, the continued resurgence of brick and mortar retail…
Low Rates of Dementia in People of Pre-Industrial Lifestyle: Study
March 9, 2022
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LOS ANGELES—A new study reveals two indigenous groups in the Bolivian Amazon have among the lowest rates of dementia in the world, according to an international team of researchers, including those from the University of Southern California (USC). The researchers found among older Tsimane and Moseten people, only about 1 percent have dementia. By comparison,…
Amazon Suppliers Linked to Forced Labor in China’s Xinjiang: Watchdog
March 8, 2022
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At least five companies in tech giant Amazon’s supply chain are linked to forced labor in China, according to a new report by a corporate accountability watchdog. Three of Amazon’s suppliers, Luxshare Precision Industry, Acbel Polytech, and Lens Technology, are alleged to have directly engaged in the use of forced labor in China according to…
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