Page 40 - Amazon

Amazon intends to invest $15 billion more in India: CEO Andy Jassy

E-commerce giant Amazon plans to invest USD 15 billion more in India, taking its total investment in the country to USD 26 billion, a top official of the company has said. After meeting Prime Minister Narendra Modi in the US, Amazon CEO Andy Jassy said the company has already invested USD 11 billion in India till date. "I had a very good and productive conversation with Prime Minister Modi. I think we share a number of goals. Amazon is one of the biggest investors in India. We have invested USD 11 billion till date and intend to invest another USD 15 billion, which will bring the total to USD 26 billion. So we are very much looking forward to future of partnering," Jassy said on Friday. The India's External Affairs Ministry in a tweet said the prime minister held a productive meeting with the president and CEO of Amazon. "Discussions focused on the area of e-commerce and the potential of further collaboration with @amazon in the logistics sector in India," it said. Modi welcomed .

Amazon duped millions of consumers into enrolling in Prime, says US FTC

The FTC has been investigating sign-up and cancellation processes for the Prime program since March 2021

Amazon to overtake Walmart in beauty by 2025, says Morgan Stanley

Morgan Stanley projects that Amazon will become the biggest player in beauty

Amazon, Marriott and other cos vow to hire thousands of refugees in Europe

Multinational companies including Amazon, Marriott and Hilton pledged on Monday to hire more than 13,000 refugees, including Ukrainian women who have fled the war with Russia, over the next three years in Europe. Just ahead of World Refugee Day on Tuesday, more than 40 corporations say they will hire, connect to work or train a total of 250,000 refugees, with 13,680 of them getting jobs directly in those companies. Every number is a story of an individual family who left everything, seeking safety, seeking protection and wanting to be able to rebuild as quickly as possible," said Kelly Clements, UN deputy high commissioner for refugees. "So the commitments that businesses are going to make on Monday are absolutely essential. She says 110 million people have been displaced worldwide, with an estimated 12 million from Ukraine, nearly half of whom are living in Europe after the continent's largest movement of refugees since World War II. The hiring push in Europe was organized by the

Amazon's $1.7 bn deal to buy Roomba maker iRobot gets US approval

The acquisition of iRobot would not disadvantage Amazon's rival 'smart home' platforms

Amazon's $1.7 bn deal to buy Roomba maker iRobot gets UK approval

British antitrust regulators cleared Amazon's purchase of robot vacuum maker iRobot on Friday, but the USD 1.7 billion deal still faces scrutiny in the United States and Europe. The Competition and Markets Authority said it decided not to escalate its initial investigation because it concluded that the deal would not result in a substantial lessening of competition within the United Kingdom. Amazon said it was pleased with the result. We look forward to similar decisions from other regulators soon, the company said in a statement. Consumer groups have voiced concerns that Amazon's purchase of Bedford, Massachusetts-based iRobot, which makes the popular Roomba robotic vacuum cleaners, would widen the e-commerce giant's dominance in the smart home market. The acquisition is still facing a review in the US by the Federal Trade Commission amid worries about Amazon's growing market power. It's also under scrutiny by the European Union's executive arm, which opened a review of the deal

Amazon-Uber extend strategic tie-up, 5% cashback on rides for Prime members

Of the 5%, they will get 4% as Uber credit and 1% as Amazon Pay cashback, which can be used to save more on future rides with Uber and fulfill shopping needs on Amazon.in

How to play the artificial intelligence theme in markets the Chris Wood way

That said, Chris Wood believes that the 'picks and shovels theme' for AI remains the most compelling story for now, which is why Nvidia remains his core holding despite valuation at 41x sales.

Amazon's cloud business slows as companies pull back on service, cut costs

When the pandemic hit three years ago, Amazon was one of the few businesses that thrived. Customers flocked to the online commerce site amid global lockdowns. But even when those lockdowns eventually lifted and Amazon's sales slowed as people returned to stores, the company could still count on its massive cash cow: Amazon Web Services. Now even the lucrative cloud services business is feeling pressure. Companies are trimming their expenses amid concerns about high inflation and fears that a recession might be around the corner. And many of them are being more cautious about their cloud costs, leading to a slowdown in one of Amazon's profitable businesses. The tech giant's first quarter earnings report showed its cloud unit generated USD 21.4 billion and was growing at 16 per cent in the first three months of this year much slower than the 37 per cent growth rate a year prior. It is under those circumstances that AWS will host its two-day security-focused cloud conference starti

End of season sales party arrives early for Indians this year, here's why

Usually, the EOSS starts at the end of June, and companies aim to clear their stock before fresh stock hits the shelves, but this year, the companies have started discounting early

Netflix, Amazon, Disney-backed group protests India's tobacco rules: Report

As part of India's anti-tobacco drive, the health ministry last month ordered streaming platforms to insert static health warnings during smoking scenes within three months

Amazon signs pact with ICAR to empower farmers enrolled under Kisan store

E-commerce firm Amazon India on Friday signed an agreement with the government's premier agri-research body ICAR to guide farmers enrolled on its 'Kisan store' on scientific cultivation of different crops and help them achieve optimum yield and income. A 'Kisan store' section was launched on the Amazon platform in September 2021. Farmers can avail doorstep delivery of agri input products via Kisan store through assisted shopping at Amazon Easy stores. The outcomes from a pilot project at Pune between Indian Council of Agricultural Research (ICAR)-Krishi Vigyan Kendra and Amazon India has motivated to further expand the partnership, the company said in a statement. On behalf of ICAR, U S Gautam, Deputy Director General (Agricultural Extension), and Siddharth Tata, Product Leader, Amazon Fresh Supply Chain and Kisan, signed the Memorandum of Understanding (MoU). "ICAR will collaborate with Amazon for technologies, capacity building and transfer of new knowledge," ICAR Director Genera

Amazon plans advertising tier for Prime Video streaming service: Report

The streaming industry has been facing a slowdown in new sign-ups as subscribers pull back on discretionary spending amid challenging economic conditions

Growing beyond years: From 100 to 1.2 mn sellers, Amazon turns 10 in India

Since 2013, when its India e-commerce operations first started, Amazon has invested over $6.5 billion

Amazon to waive off seller fee by 10% to celebrate its 10 years in India

Amazon noted in a blog post that the company's goal from the start was to digitise all businesses in order to offer the largest choice of things while leveraging technology

Amazon in talks with Verizon, others for low-cost mobile services

The discussions, which have been going on for six to eight weeks, have also included AT&T Inc at times, the report said, citing people familiar with the matter

Amazon's India, South Asia cloud unit head Puneet Chandok resigns

NEW DELHI (Reuters) -The India and South Asia head of Amazon.com Inc's cloud division, Puneet Chandok, has resigned with effect from August 31, the company said on Friday.

Hundreds of Amazon employees stage walkout of HQ over return to work policy

Hundreds of Amazon employees staged a walkout at the company's headquarters in Seattle over the company's return-to-work policy and its lack of progress on climate change initiatives

Amazon to pay $31 mn in privacy violation penalties for Alexa, Ring camera

Amazon agreed Wednesday to pay a USD 25 million civil penalty to settle Federal Trade Commission allegations it violated a child privacy law and deceived parents by keeping for years kids' voice and location data recorded by its popular Alexa voice assistant. Separately, the company agreed to pay USD 5.8 million in customer refunds for alleged privacy violations involving its doorbell camera Ring. The Alexa-related action orders Amazon to overhaul its data deletion practices and impose stricter, more transparent privacy measures. It also obliges the tech giant to delete certain data collected by its internet-connected digital assistant, which people use for everything from checking the weather to playing games and queueing up music. Amazon's history of misleading parents, keeping children's recordings indefinitely, and flouting parents' deletion requests violated COPPA (the Child Online Privacy Protection Act) and sacrificed privacy for profits, Samuel Levine, the FCT consumer ...

Amazon Ring to pay $5.8 mn over unlawfully accessing consumer videos

California-based Ring, which was purchased by Amazon in February 2018, sells internet-connected, video-enabled home security cameras, doorbells, and related accessories and services