Page 31 - Amazon

Amazon's Cloudtail revenue declines by 84% to Rs 3,093 crore in FY23

E-commerce company Cloudtail India registered an 84 per cent fall in revenue to Rs 3,093 crore in 2022-23, a report by market research firm Tofler said on Tuesday. Cloudtail, now an Amazon-owned e-commerce entity, ceased its business-to-consumer operations in April 2022. The firm continues to operate as a facilitator for sellers. As per Tofler, Cloudtail posted a net loss of Rs 98 crore in 2022-23. "Cloudtail India Limited, an e-commerce firm, reported its revenues for the financial year 2022-23 as Rs 3,093 crore, an 84 per cent fall since the last financial year. The company further reported a net loss of Rs 98 crore during the same fiscal. The company's total expenses for the fiscal were reported as Rs 3,191 crore," a Tofler statement read. Cloudtail was initially formed as a joint venture between Amazon and Infosys founder NR Narayana Murthy-owned firm Catamaran. It was operated by Prione Business Services in which Catamaran held a 74 per cent stake. Catamaran decided to ...

Amazon Great Indian Festival Sale, Day 2: Smart TVs, Smartwatches to buy

Amazon offers products under different categories, which are available at huge discounts. Here's the list of the best smart TVs and smartwatches to buy on Great Indian Sale

Amazon seeks IN-SPACe's approval to provide satcom services in India

Amazon is also expected to apply to the DoT for a global mobile personal communication by satellite services (GMPCS) licence

Festive season sale: E-commerce firms witness over 15% growth in orders

Myntra is expecting over 8 million customers to shop during BFF. Last year, about 6 million customers shopped during the event

How is the Amazon sale different from Flipkart sale? Check heavy discounts

Amazon and Flipkart are two e-commerce rivals in India, that experience a significant growth in every season sale. Here are some of the best products you can purchase during Amazon and Flipkart sale

Amazon launches test satellites for internet service to compete with SpaceX

Amazon launched the first test satellites for its planned internet service on Friday as a rival to SpaceX's broadband network. United Launch Alliance's Atlas V rocket blasted off with the pair of test satellites, kicking off a programme that aims to improve global internet coverage with an eventual 3,236 satellites around Earth. Amazon plans to begin offering service by the end of next year. Elon Musk's SpaceX has a huge head start over Amazon and its founder Jeff Bezos, who has his own rocket company, Blue Origin. SpaceX flew its first test Starlink satellites in 2018 and the first operational satellites in 2019. It has since launched more than 5,000 Starlinks from Florida and California, using its own Falcon rockets. Europe's Eutelsat OneWeb also is launching internet satellites, with around 600 in orbit. Amazon originally agreed to put the satellites on the debut launch of ULA's Vulcan rocket. But with the Vulcan grounded by problems until at least the end of this year, Amazon

InGovern flags concerns with FinMin about Flipkart hiring ex-CCI Officer

InGovern suggests that the integrity of the ongoing CCI probes into e-commerce behemoths Flipkart-Walmart and Amazon is questionable

Fears about Amazon, Microsoft cloud computing dominance trigger UK probe

Concerns from regulators about the dominance of Amazon and Microsoft in Britain's cloud computing market have triggered a investigation into the competitiveness of the key industry. The UK communications regulator Ofcom said Thursday that its yearlong study of the cloud communications services market found features that could limit competition. British businesses face barriers when they try to switch or use multiple cloud suppliers, it said. Cloud computing uses data centres around the world to store photos and emails or run software. It has become a vital service for many businesses, which turn to cloud providers to avoid the cost of buying expensive equipment and real estate to run their own data centres. Ofcom asked the UK antitrust watchdog, the Competition and Markets Authority, to take a closer look at the 7.5 billion-pound ($9 billion) cloud market. The watchdog said it was opening an in-depth investigation that's expected to wrap up by April 2025. Some UK businesses have to

Amazon poised to launch long delayed satellites in race with SpaceX

It'll be the first in-flight test of Amazon's ambitious Project Kuiper initiative, on which it's pledged to spend more than $10 billion

Focusing on speedy delivery this festival season: Amazon's Akhil Saxena

Akhil Saxena, vice president, operations, APAC, MENA and LATAM and worldwide customer service head, Amazon, is passionate about coaching people

Amazon India creates over 100k job opportunities ahead of festival sale

The new hires will pick, pack, ship and deliver customer orders safely and efficiently

VideoCX.io adds video conferencing to their Video Banking suite with Amazon Chime SDK

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Flipkart unveils VIP subscription programme ahead of the festive season

Flipkart is taking on Amazon by introducing a paid subscription service primarily aimed at shoppers in top cities.

Over 100 dolphins dead in Amazon as it hits record-high temperature

According to the Mamiraua Institute, a research facility funded by the Brazilian Ministry of Science, these dolphins were found in Lake Tefe

The times they are a-changing for Competition Commission of India

Fair market regulator is getting more powers as its new leadership settles in at work

Taming Big Tech: Battles are raging on more than one front

The profitability of Meta, Amazon, Microsoft, Alphabet and Apple (MAMAA), twice the S&P 500 average of 10 per cent, has come to be seen as flowing from the abuse of market power, writes T N Ninan

Amazon wins court backing for now against EU tech rules' ad clause

Amazon took its grievance to Europe's 2nd highest court in July after EU antitrust regulators in April designated it as a VLOP along with 18 other platforms and search engines

LIVE: Logical to prepare for more China presence in Indian Ocean, says EAM

Catch all the latest live updates from around the world here

Amazon punishes seller for 5 cent price cut on competitor's site: FTC Case

Amazon has vowed to challenge the FTC lawsuit in court, adding that it "radically" departs from the agency's mission of protecting consumers

Amazon sued by FTC, 17 states over allegations it inflates online prices

US regulators and 17 states are suing Amazon over allegations the e-commerce behemoth abuses its position in the marketplace to inflate prices on and off its platform, overcharge sellers and stifle competition. The lawsuit, filed Tuesday in federal court in Amazon's home state of Washington, is the result of a years-long investigation into the company's businesses and one of the most significant legal challenges brought against it in its nearly 30-year history. The Federal Trade Commission and states that joined the lawsuit allege Amazon is violating federal and state antitrust laws. They are asking the court to issue a permanent injunction that they say would prohibit Amazon from engaging in its unlawful conduct and loosen its monopolistic control to restore competition. The complaint accuses the company of engaging in anti-competitive practices through measures that deter sellers from offering lower prices for products on non-Amazon sites, an argument mirroring allegations made in