Page 27 - Amazon

Billionaire space battle heats up as Jeff Bezos eyes SpaceX rival

'SpaceX likes to say they have a monopoly" in the launch market, Tory Bruno, ULA's chief executive officer, said in an October interview. "They don't.'

TikTok eyes $17.5 billion shopping business on Amazon's turf: Reports

The 2024 merchandise volume goal for the US version of TikTok Shop - which melds online entertainment with impulse buying - was discussed in internal meetings in recent weeks

Amazon's video ad push expected to generate extra $5 bn in revenue

Amazon's advertising business - mostly search and display ads on its web store - generated $12.1 billion in the quarter ended September 30, about 8.5% of total revenue

iPhone hack: Chandrashekhar rebuts Washington Post, calls it 'half facts'

In a story published on December 27 in association with Amnesty the Washington Post had reported that certain journalists had been targeted with the spyware on their iPhones

Black Box eyes 3x growth to $2 bn by 2027 with focus on critical infra

Indian IT company Black Box is expecting a threefold increase in revenue to USD 2 billion over the next three years, driven by demand for critical technological infrastructure. Black Box President and CEO Sanjeev Verma told PTI that focusing on digital infrastructure, connectivity, networking, modern workplace cybersecurity, along with artificial integration, is going to provide a huge runway to the company. "I think we see the future for digital infrastructure business ramping up on the back of hybrid activity on the data centre side, requirement for people to collaborate across continents and cultures, hybrid workplaces that have become a norm post-Covid." "We are looking at double-digit growth organically over the next few years and expect to push towards USD 2 billion (Rs 16,632 crore) revenues in the next three years," Verma said. The company had reported a consolidated revenue of Rs 6,233 crore in FY23, as per a BSE filing. Black Box works with big tech companies like Amazon

Global corporate landscape 2023: Mergers, closures, and leadership shifts

From acquisitions & mergers to resignations 2023 has been a year of significant milestones in the global corporate world. Here is a recap on all the major event that unfolded in 2023

Amazon sellers worry over misleading AI product reviews impacting sales

Product reviews have been a central part of shopping on Amazon for almost three decades, providing word-of-mouth referrals that boost the confidence of those who otherwise might be hesitant

Adobe calls off $20 bn deal to acquire Figma after pushback from Europe

Adobe's planned $20 billion acquisition of online design company Figma is being called off due to pushback in Europe over antitrust concerns, the companies said Monday. The companies announced the cash-and-stock deal in September 2022, seeking a path with Figma's web-based, multi-player capabilities to accelerate the delivery of Adobe's creative cloud technologies on the web. Although both companies continue to believe in the merits and procompetitive benefits of the combination, Adobe and Figma mutually agreed to terminate the transaction based on a joint assessment that there is no clear path to receive necessary regulatory approvals from the European Commission and the UK Competition and Markets Authority, Adobe and Figma said in a prepared statement on Monday. US companies have regularly run into roadblocks in Europe over similar concerns of monopolies. Biotech giant Illumina on Sunday said that it will undo its $7.1 billion purchase of the cancer-screening company Grail after

Amazon won't have to pay $273 million in back taxes after winning EU case

Amazon won't have to pay about 250 million euros (USD 273 million) in back taxes after European Union judges ruled in favour of the US e-commerce giant Thursday, dealing a defeat to the 27-nation bloc in its efforts to tackle corporate tax avoidance. The ruling by the EU's top court is final, ending the long-running legal battle over tax arrangements between Amazon and Luxembourg's government and marking a further setback for a crackdown by antitrust chief Margrethe Vestager. The Court of Justice backed a 2021 decision by judges in a lower court who sided with Amazon, saying the European Commission, the EU's executive branch, had not proved its case that Amazon received illegal state support. The Court of Justice confirms that the Commission has not established that the tax ruling given to Amazon by Luxembourg was a State aid that was incompatible with the internal market of the EU, the court said in a press release. Amazon welcomed the ruling, saying it confirms that the company .

Myntra surpasses 75 mn new app users, achieves record customer growth

The Gen Z fashion segment on the platform has recorded 2.25X surge in demand and 175% YoY growth in customers

Indian exporters on Amazon see over 80% business growth during BFCM sale

Customers across global markets shopped from Indian exporters on Amazon Global Selling during the 11-day sale period

Indian firms record 25% biz growth during Amazon's BFCM 2023 shopping event

Indian exporters on Amazon Global Selling recorded more than 25 per cent business growth during the Black Friday and Cyber Monday shopping events held globally between November 17-27 compared to the same event last year, the e-commerce giant said on Wednesday. The business during these events was more than 80 per cent higher than on usual days, it said. Customers across global markets shopped from Indian exporters on Amazon Global Selling during the 11-day sale period with North America, Europe and Middle East driving highest sales, Amazon said in a statement. "During the Black Friday and Cyber Monday (BFCM) shopping events held globally between November 17-27, Indian exporters on Amazon Global Selling saw more than 80 per cent business growth compared to business as usual," the statement said. Exporters from tier 2 and tier 3 cities saw strong year-on-year (YoY) growth during this period Karur and Junagadh around 100 per cent YoY growth, Erode over 50 per cent YoY and Jaipur over

Amazon suit claims international ring stole millions in fraudulent refunds

REKK impersonated Amazon customers, used phishing messages to obtain credentials, manipulated systems through unauthorised access and bribed employees to grant refunds, according to the suit

Vaishali Kasture resigns as AWS India's interim country head in five months

Vaishali Kasture had taken over from the former president of commercial business, Puneet Chandok, in July this year

The $42 mn clock set to tick once a year, keep time for next 10,000 years

Being built inside a mountain in Texas, the century hand of the 10,000-year clock advances once every 100 years, and the cuckoo will come out on the millennium

Amazon targets Shein with sharp fee cuts for cheap apparel sellers

It's rare for Amazon to reduce the so-called referral fees it charges merchants on its online store, and no other changes of that nature were announced

Amazon second company to criticise Microsoft in UK cloud market probe

"To use many of Microsoft's software products with these other cloud services providers, a customer must purchase a separate license even if they already own the software," Amazon said

Amazon to introduce advanced coding and AI modules in 100 Karnataka schools

Amazon.in on Monday announced the expansion of its Amazon Future Engineer (AFE) program to introduce advanced coding and artificial intelligence (AI) modules in 100 Karnataka Residential Educational Institutions Society (KREIS) schools. The company said in a statement it will also provide digital infrastructure enhancements for 30 KREIS schools. "This expansion will impact over 13,000 students in grades six to eight across 30 districts of Karnataka," it said. The expanded module will enable students to develop complex computer applications incorporating advanced programming concepts like control conditions, variables, and functions, the company said. "Additionally, through project-based learning, students will also be introduced to the basics of AI with a further understanding of its relevance, future possibilities, and impact on their lives and the world around them," the statement added. This programme will complement the current courses in coding, logical sequencing, learning

Innovation in APAC, Japan on rise; govt driving digital transformation: AWS

The Asia Pacific and Japan region is emerging as a hotbed for innovation, and various governments are driving digital transformation projects, a senior AWS official has said. Initiatives like Digital India have successfully showcased how technology can be used to address citizen needs at scale, said Rahul Sharma, Managing Director, Worldwide Public Sector - APAC and Japan at Amazon Web Services (AWS). Sharma outlined a positive outlook for government-led tech spending in the region for 2024. Spending around mission projects, driven by various governments, is expected to have a bigger component of technology, he said. "According to IMF, Asia Pacific is the growth engine for the world...also it is really where a lot of innovation is happening...one of the things we are seeing, specifically, is the wave of government-led digital transformation in Asia Pacific and Japan," Sharma told PTI on the sidelines of AWS re: Invent 2023. According to Sharma, Digital India and the rise of digita

Amazon India set for top-deck reshuffle, changes likely in structure

It will be the first such change in ten years of Amazon's existence in India