amazon
Washington (AFP) - Amazon founder Jeff Bezos took back his spot as the world's richest man on Monday, dethroning Elon Musk on the Bloomberg Billionaires Index. Bezos' net worth stands at $200 billion, according to the tracker, surpassing the Tesla chief's $198 billion. Musk, who also heads X (formerly Twitter) and SpaceX, has seen his riches fall by more than $30 billion as Tesla's share price has dropped 25 percent in recent months. Adding to Musk's woes, a court in January approved the annulment of his enormous Tesla compensation agreement, worth $55.8 billion and originally struck in 2018. ...
AFP
Washington (AFP) - Amazon on Monday said it was dropping its plans to buy the iRobot vacuum maker after the EU's antitrust authority objected to the plan over competition concerns. The news sent shares in iRobot into a tailspin, and the device maker followed the announcement of the failed deal with a restructuring plan that would see 350 jobs, or 30 percent of the company, laid off and the departure of its CEO. "We're disappointed that Amazon's acquisition of iRobot could not proceed," said David Zapolsky, Amazon SVP and General Counsel. The EU in July opened an antitrust investigation into Am...
AFP
Los Angeles (AFP) - The house where Jeff Bezos founded online shopping mammoth Amazon is up for sale, offering one lucky buyer the chance to own a piece of internet history. Bezos and his then-wife MacKenzie Scott were renting the single-story, three-bedroom home near Seattle in the mid 1990s when they began selling books online from the garage. Amazon lore holds that the garage was outfitted only with a computer, basic office supplies and a desk constructed from a door bought from a home improvement center. Originally the company shipped only books -- Amazon says the first one was titled "Flu...
AFP
San Francisco (AFP) - Amazon's gamer streaming unit Twitch on Wednesday announced that it was laying off 500 staff, reportedly one third of the company, as it struggles financially despite strong popularity among players. The online shopping giant also said it was slashing hundreds of staff in its entertainment division, targeting both movie streaming service Prime Video and Amazon MGM Studio, the home of James Bond. The cull comes as part of Amazon's biggest ever job cutting plan launched last year, which it said will reach 27,000 positions across the company. "I wanted to send a short note t...
AFP
Brussels (AFP) - A top EU court rejected Thursday Brussels' appeal against a ruling blocking its bid to force Luxembourg to recover 25 million euros ($272-million) in back taxes from Amazon. The ruling, the final word in the case, was a blow not just to the European Commission but to the EU's competition commissioner, Margrethe Vestager. "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," the court said in a statement. "In its judgment handed down today, the Cou...
AFP
Los Angeles (AFP) - E-commerce giant Amazon said Thursday it would start selling new automobiles on its platform in the United States next year. Amazon made the announcement at the Los Angeles Auto Show in conjunction with Hyundai, the South Korean auto giant that will be the first brand sold on the site. The company said customers will be able to choose models and their favorite features online. They can then pick up the car at their local dealership or have it delivered to their home. Financing options will also be available on Amazon. "Hyundai is a very innovative company that shares Amazo...
AFP
San Francisco (AFP) - Online retail colossus Amazon on Thursday said profit surged in the recently ended quarter on growing sales and more efficient deliveries, with its cloud business promising even better days ahead. The e-commerce colossus said it made a profit of $9.9 billion on sales that tallied $143.1 billion in the recently ended quarter, with more than half its operating income made from Amazon Web Services (AWS) cloud unit. Google parent Alphabet and computing colossus Microsoft this week reported rising quarterly profits, playing up demand for cloud computing enhanced with artificia...
AFP
Washington (AFP) - Amazon launched two satellites on Friday as part of its plan to deliver the internet from space and compete with Elon Musk's Starlink service. The Atlas V rocket carrying the satellites lifted off from Cape Canaveral in Florida at 2:06 pm local time (6:06 pm GMT). The launch was carried out by the United Launch Alliance (ULA) industrial group, a joint venture between Boeing and Lockheed Martin. Once up and running, the company founded by Jeff Bezos says its Project Kuiper will provide "fast, affordable broadband to unserved and underserved communities around the world," wit...
AFP
Washington (AFP) - A top US antitrust regulator sued Amazon on Tuesday, accusing the online retail behemoth of running an illegal monopoly by strong-arming sellers and stifling potential rivals. The highly anticipated lawsuit is another test for the Biden administration as it tries to curb the power of big tech in the face of pushback from US courtrooms. "Our complaint lays out how Amazon has used a set of punitive and coercive tactics to unlawfully maintain its monopolies," said Federal Trade Commission Chair Lina Khan. The FTC, which was joined by 17 US states in the case, said Amazon broke...
AFP
Paris (AFP) - Amazon said on Monday it would invest up to $4 billion in AI firm Anthropic, as the online retail giant steps into an AI race dominated by Microsoft, Google and OpenAI. The success of OpenAI's ChatGPT, a chatbot released last year that is able to generate poems, essays and other works with just a short prompt, has led to billions being invested in the field. Amazon had already announced it aimed to soup up its Alexa voice assistant with generative AI, which the firm said would allow users to have smoother conversations. San Francisco-based Anthropic is seen as a leader in the fi...
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