Page 31 - Amazon

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

Amazon launches Q, biz chatbot powered by generative AI to challenge rivals

Amazon finally has its answer to ChatGPT. The tech giant said Tuesday it will launch Q a business chatbot powered by generative artificial intelligence. The announcement, made in Las Vegas at an annual conference the company hosts for its AWS cloud computing service, represents Amazon's response to rivals who have rolled out chatbots that have captured the public's attention. San Francisco startup OpenAI's release of ChatGPT a year ago sparked a surge of public and business interest in generative AI tools that can spit out emails, marketing pitches, essays, and other passages of text that resemble the work of humans. That attention initially gave an advantage to OpenAI's chief partner and financial backer, Microsoft, which has rights to the underlying technology behind ChatGPT and has used it to build its own generative AI tools known as Copilot. But it also spurred competitors like Google to launch their own versions. These chatbots are a new generation of AI systems that can ..

As Jeff Bezos moves south, Amazon eyeing more office space in Miami

Amazon is seeking roughly 50,000 square feet (4,650 square meters) of office space, according to people familiar with the matter, who asked not to be identified because the plans are private

TCS ties up with Amazon Web Services to launch generative AI practice

The country's largest IT services exporter TCS on Monday announced its tie-up with Amazon Web Services to launch a dedicated generative artificial intelligence practice. The Tata Group company recently announced that it has imparted foundation training on GenAI for 1 lakh employees across the world. The practice will focus on using responsible AI frameworks and its "Paceport innovation hubs" to build a comprehensive portfolio of solutions and services for every industry sector, as per an official statement. It has already bagged a customer, with the world's largest hotel franchising company Wyndham Hotels and Resorts extending its strategic partnership with TCS and AWS to manage its digital transformation journey. Generative AI has captured the attention of enterprises globally for its potential to significantly reshape industries, the statement said, adding that TCS has already been working on GenAI with clients. TCS is at present focused on certifying over 25,000 employees on AW

Edtech major Byju's elevates Jiny Thattil to CTO as Anil Goel moves on

This transition is part of Byju's ongoing strategic restructuring and reorientation of its leadership team to further enhance operational efficiency

Amazon India launches initiative for individuals with learning disabilities

Amazon India on Monday announced the launch of a programme, Aurora, which will leverage the talent of individuals with learning disabilities and provide employment to them. The e-commerce giant rolled out a successful pilot of the programme with a non-profit Mumbai-based organisation Sol ARC in harnessing the talent of a batch of young adults in its delivery stations in Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Amazon India said in a statement. Besides hiring talent with learning disabilities, Amazon's programme, Aurora, will also focus on building groundwork and support mechanisms, such as increasing employee awareness and inspiring employees to be allies to those with learning disabilities. "We are passionate about creating a diverse workforce to reflect our customer base and ensure we tap into their diverse perspectives. We strongly believe that diversity in the workplace helps create a better, more inclusive environment and we are invested to create opportunities for the ...

Byju's names Jiny Thattil as Chief Technology Officer, replacing Anil Goel

Jiny Thattil has previously worked at companies such as cred-owned Happay, Amazon, InMobi and GE Healthcare

Amazon hit by strikes, protests across Europe during Black Friday trade

More than 200 workers were striking on Friday at Amazon's warehouse in Coventry, England as part of a long-running dispute over pay

Amazon India, WBIDC sign MoU to boost e-commerce exports from West Bengal

WBIDC will build e-commerce export hubs and set up e-commerce exports facilitation cell in key districts across West Bengal including Kolkata