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Search resuls for: "Pascal Rossignol"


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People arrive to attend the Pledging Conference of the Green Climate Fund (GCF) for the First Replenishment in Paris, France, October 25, 2019. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsDUBAI, Dec 2 (Reuters) - The United States will pledge $3 billion to the Green Climate Fund, sources familiar with matter said on Saturday as Vice President Kamala Harris arrived in Dubai for the U.N. climate summit. The fund, with more than $20 billion in pledges, is the largest international fund dedicated to supporting climate action in developing countries. The latest pledge, which Reuters was first to report, would be additional to another $2 billion previously delivered by the United States. In addition to supporting climate adaptation, the fund also finances projects to help countries shift to clean energy.
Persons: Pascal, Kamala Harris, Harris, replenishments, Joe Biden, John Kerry, Nandita Bose, Valerie Volcovici, William James, Elizabeth Piper, Katy Daigle, Edwina Gibbs Organizations: Climate, REUTERS, Rights, Climate Fund, Reuters, Thomson Locations: Paris, France, United, Dubai, United States, U.S, COP28
The Commission's legal service did not think a statement of objections regarding the deal was warranted, in contrast with antitrust officials handling the case, the people said. Without such a charge sheet, the deal would have been cleared unconditionally. The lawyers subsequently changed their mind and backed antitrust officials' decision to send the charge sheet setting out their concerns, the sources said on condition of anonymity, declining to provide confidential details. Antitrust officials can override objections from the legal service by either tweaking or narrowing their concerns to get their backing or by appealing to the top officials. While Amazon might still gain unconditional approval to buy iRobot, the charge sheet indicates that officials are looking to remedies from the company to address their concerns.
Persons: Pascal, Foo Yun Chee, Richard Chang Organizations: Rights, European Commission, Antitrust, Reuters, EU, Google, Digital, Big Tech, Thomson Locations: Boves, France, Rights BRUSSELS
The logo of Amazon is seen at the company's logistics centre in Boves, France, October 6, 2021 REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsNov 28 (Reuters) - Amazon.com (AMZN.O) on Tuesday introduced its newest data center chip for its cloud computing service as competition with Microsoft (MSFT.O) to dominate the market for artificial intelligence heats up. At a conference in Las Vegas, Amazon Web Services Chief Executive Adam Selipsky announced Graviton4, the cloud firm's fourth custom central processor chip, which it said is 30% faster than its predecessor. The news comes weeks after Microsoft announced its own custom chip called Cobalt designed to compete with Amazon's Graviton series. Reporting by Yuvraj Malik in Bangalore and Stephen Nellis in San FranciscoOur Standards: The Thomson Reuters Trust Principles.
Persons: Pascal, Adam Selipsky, Graviton4, Amazon's, Yuvraj Malik, Stephen Nellis Organizations: Microsoft, Web Services, Thomson Locations: Boves, France, Las Vegas, Bangalore, San Francisco
The logo of Amazon is seen at the company's logistics centre in Boves, France, October 6, 2021 REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsBRUSSELS, Nov 27 (Reuters) - EU antitrust regulators said on Monday Amazon's (AMZN.O) $1.4 billion acquisition of robot vacuum maker iRobot (IRBT.O) may squeeze out rival robot cleaners on its online marketplace. The EU competition enforcer said Amazon's online marketplace is an important channel for robot vacuum cleaners (RVCs) in France, Germany, Italy and Spain. "iRobot, which faces intense competition from other vacuum cleaner suppliers, offers practical and inventive products. We believe Amazon can offer a company like iRobot the resources to accelerate innovation and invest in critical features while lowering prices for consumers," the company said. Reporting by Foo Yun Chee; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.
Persons: Pascal, Foo Yun Chee, David Evans Organizations: Rights, Amazon, Big Tech, European Commission, EU, Commission, Reuters, Thomson Locations: Boves, France, Rights BRUSSELS, Germany, Italy, Spain
Amazon Faces Black Friday Strikes in US, Europe
  + stars: | 2023-11-24 | by ( Helena Smolak | ) www.wsj.com   time to read: 1 min
The logo of Amazon is seen at the company’s logistics centre in Boves, France. Photo: pascal rossignol/ReutersAmazon.com faced strikes in the U.S. and Europe on Black Friday, hitting the e-commerce giant at the start of the busy holiday shopping weekend as labor unrest picks up on both sides of the Atlantic. Warehouse workers and drivers planned strikes Friday in the U.S., the U.K., Germany, Italy and Spain to demand better wages and working conditions, according to the UNI Global Union, a global union federation focused on the services sector with affiliated organizations from 150 countries. Further protests by climate activists and workers are planned in other countries, the UNI Global Union said.
Persons: pascal rossignol Organizations: Reuters Amazon.com, ., UNI Global Union Locations: Boves, France, U.S, Europe, Germany, Italy, Spain
On Black Friday, the day after the U.S. Thanksgiving holiday, many retailers slash prices to boost sales. More than 1,000 workers at Amazon's warehouse in Coventry, England, will strike on Friday, according to trade union GMB, as part of a long-running dispute over pay. Many Amazon shoppers use its lockers, which are located in train stations, supermarket car parks, and street corners, to receive their orders. Attac, which calls Black Friday a "celebration of overproduction and overconsumption", said it expects the protest to be wider than last year, when it estimates 100 Amazon lockers across France were targeted. "Make Amazon Pay", a global campaign coordinated by UNI Global Union, said strikes and protests would take place in more than 30 countries from Black Friday through to Monday.
Persons: Pascal, Amazon's, Verdi, CGIL, CCOO, Helen Reid, James Davey, Matthias Inverardi, Elisa Anzolin, Corina Pons, Sharon Singleton Organizations: Workers, U.S, Amazon, GMB, Trade, Amazon's, Castel, UNI Global Union, Thomson Locations: Boves, France, Europe, U.S, Germany, Bad Hersfeld, Dortmund, Koblenz, Leipzig, Amazon's, Coventry , England, London, Castel San Giovanni, Black, Dusseldorf, Milan, Madrid
The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, January 5, 2023. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsBRUSSELS, Nov 23 (Reuters) - Amazon (AMZN.O) is set to win unconditional EU antitrust approval for its $1.4 billion acquisition of robot vacuum maker iRobot (IRBT.O), three people familiar with the matter said on Thursday. The Commission, which is due to decide on the deal by Feb. 14, declined to comment. The deal announced in August would add iRobot's Roomba robot vacuum to U.S. online retail giant Amazon's portfolio of smart devices, includes the Alexa voice assistant, smart thermostats, security devices and wall-mounted smart displays. Reporting by Foo Yun Chee Editing by Mark Potter and David GoodmanOur Standards: The Thomson Reuters Trust Principles.
Persons: Pascal, Foo Yun, Mark Potter, David Goodman Organizations: REUTERS, Rights, Big Tech, European Commission, Amazon, Thomson Locations: Lauwin, France, Rights BRUSSELS
German union Verdi calls for strikes at Amazon on Black Friday
  + stars: | 2023-11-23 | by ( ) www.reuters.com   time to read: +1 min
The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, January 5, 2023. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsNov 23 (Reuters) - German trade union Verdi has called on members to go on strike at five Amazon (AMZN.O) distribution centres across Germany on Black Friday, it said in a statement on Thursday. Strong demand thanks to bargains on Black Friday mean the day is usually one of the most profitable for online retailers like Amazon. "Amazon employees have decided to rename Black Friday 'Make Amazon Pay Day'", said Silke Zimmer, the member for retail on Verdi's governing board. "It's not for nothing that half of our colleagues have been with us for over five years," the Amazon spokesperson said.
Persons: Pascal, Verdi, Silke Zimmer, Matthias Inverardi, Louis van Boxel, Woolf, Emma, Victoria Farr, Miranda Murray, Daniel Wallis Organizations: REUTERS, Amazon, Bad, Thomson Locations: Lauwin, France, Germany, Koblenz, Leipzig, Rheinberg, Dortmund, U.S
The logo of Amazon is seen at the company logistics centre in Boves, France, October 6, 2021 REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsNov 22 (Reuters) - Spain's anti-trust watchdog on Wednesday cleared Amazon (AMZN.O), Booking Holdings (BKNG.O) and Tripadvisor (TRIP.O) of participating in or facilitating fake reviews on their websites. CNMC, as the watchdog is known had been looking into a complaint lodged by a local association defending consumers. "CNMC found no indication that the platforms have participated in or facilitated the publication of these false opinions," it said in a statement, adding that the companies invested in detecting fake reviews and collaborated with ongoing investigations. The watchdog has, however, detected possible signs of a violation of consumer protection regulations, and therefore sent the complaint to the consumer rights authority. An Amazon spokesperson said his company is acting against fake reviews on its websites.
Persons: Pascal, CNMC, Tripadvisor, Maria Luiza Amaral, Inti Landauro, Elaine Hardcastle Organizations: Booking Holdings, Amazon, Thomson Locations: Boves, France
An oil pump of IPC Petroleum France is seen during sunset outside Soudron, near Reims, France, February 6, 2023. OPEC+ is set to consider whether to make additional oil supply cuts when the group meets later this month, three OPEC+ sources have told Reuters after prices dropped by some 16% since late September. Oil has slid to around $82 a barrel for Brent crude from a 2023 high in September of near $98. Concern about demand and a possible surplus next year has pressured prices, despite support from the OPEC+ cuts and conflict in the Middle East. The cuts include 3.66 million bpd by OPEC+ and additional voluntary cuts by Saudi Arabia and Russia.
Persons: Pascal, Toril Bosoni, Brent, Nerijus Adomaitis, Terje Solsvik, Gwladys Organizations: IPC Petroleum France, REUTERS, Rights, International Energy, Reuters, Oil, OPEC, Brent, Thomson Locations: Soudron, Reims, France, Rights OSLO, OPEC, Oslo, East, Saudi Arabia, Russia
Amazon's logistics workers in Spain plan Cyber Monday walk-outs
  + stars: | 2023-11-20 | by ( ) www.reuters.com   time to read: +2 min
The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, January 5, 2023. There are three working shifts a day at Amazon in Spain. Cyber Monday is the first working day after Thanksgiving, an important date for retailers as consumers return to work and start ordering Christmas gifts. Logistics workers at Amazon on both sides of the Atlantic have complained about working conditions and unionisation is starting to build pressure on the company. Amazon has grown fast Spain in the past couple of years in both logistics for its e-commerce business and data centres to support its cloud computer unit, Amazon Web Services.
Persons: Pascal, CCOO, Douglas Harper, Inti Landauro, Andrei Khalip, Susan Fenton Organizations: REUTERS, Rights, Amazon, Reuters, CCOO, Logistics, Amazon Web Services, Thomson Locations: Lauwin, France, Rights MADRID, Amazon's, Spain, U.S, United States, Britain
The new logo of Paris 2024 Olympics is seen on a pin during a ceremony in Paris, France, October 21, 2019. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsPARIS, Nov 16 (Reuters) - Luxury giant LVMH's (LVMH.PA) Berluti brand will design the summer Olympics and Paralympics opening ceremony uniforms for the French teams, boosting the profile of the upscale menswear label known for buffed leather shoes and tailored suits. Antoine is credited with negotiating LVMH's 150 million euros ($166 million) worth Olympics sponsorship deal initially announced in July. Paris, which has hosted two previous Olympics, will stage the summer Games after a 100 years. LVMH's sponsorship includes its top fashion brands Louis Vuitton and Dior, as well as Moet Hennessy champagne and spirits labels and jeweller Chaumet, which will design medals for the event.
Persons: Pascal, Antoine Arnault, Bernard Arnault, Antoine, Louis Vuitton, Moet Hennessy, Chaumet, Leon Marchand, Melanie de Jesus dos Santos, Enzo Lefort, Pauline Deroulede, Mimosa Spencer, Nivedita Organizations: REUTERS, Rights, Louis, Dior, Thomson Locations: Paris, France, Tokyo
REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsNov 15 (Reuters) - Amazon (AMZN.O) said on Wednesday it was in the process of removing seven unapproved eye drops from its e-commerce platform following a warning letter from the U.S. health regulator earlier this week. The U.S. Food and Drug Administration (FDA) on Monday sent a warning letter to Amazon for selling eye drops which have not been recognized as safe and effective in providing temporary relief from symptoms such as excessive watery discharge, redness, burning and pink eye. The eye drops flagged in the letter to Amazon include Similasan Pink Eye Relief, Can-C Eye Drops, Optique 1 Eye Drops and OcluMed Eye Drops, among others. The FDA has warned consumers against using 26 over-the-counter eye drops due to risk of infection and some cases of possible vision loss. The health agency also sent warning letters to eight other companies in September, including pharmacy giants CVS Health (CVS.N) and Walgreens Boots Alliance (WBA.O), against manufacturing or marketing of certain unapproved eye products.
Persons: Pascal, Bhanvi, Shounak Dasgupta Organizations: REUTERS, U.S . Food, Drug Administration, Monday, Eye, FDA, CVS Health, Walgreens Boots Alliance, Thomson Locations: U.S, Bengaluru
The IEA joins the Organization of the Petroleum Exporting Countries in raising its oil demand growth forecast for 2023. Demand in 2023 has been supported by resilient U.S. deliveries and record September demand from China, the IEA said. SLOWDOWN IN VIEWFor 2024, the IEA raised its oil demand growth forecast to 930,000 bpd from 880,000 bpd. OPEC and the IEA have clashed in recent years over issues such as the long-term oil demand outlook and the need for investment in new supplies. The IEA said the 2024 demand slowdown will arise as "the last phase of the pandemic economic rebound dissipates and as advancing energy efficiency gains, expanding electric vehicle fleets and structural factors reassert themselves."
Persons: Pascal, Brent, Natalie Grover, Alex Lawler, David Goodman, Jason Neely, David Evans Organizations: IPC Petroleum France, REUTERS, International Energy Agency, OPEC, IEA, Organization of, Petroleum, Thomson Locations: Soudron, Reims, France, Paris, Saudi Arabia, Russia, China, Libya, OPEC, Saudi, London
REUTERS/Pascal Rossignol Acquire Licensing RightsNov 13 (Reuters) - Amazon.com (AMZN.O) has cut around 180 jobs in its games division, at least the second round of cuts in under a week, as part of a broader restructuring, according to an email viewed on Monday by Reuters. It represents the second cut to the division this year. Amazon last week also began cutting jobs in its streaming music and podcast division, according to people familiar with the matter. The games division offers downloadable versions of many video games, on a monthly rotation, as well as some Twitch channels and other services. In April, Amazon cut about 100 jobs in the games unit.
Persons: Pascal Rossignol, Christoph Hartmann, Hartmann, We've, Greg Bensinger, Sayantani Ghosh Organizations: REUTERS, Reuters, Amazon Games, Amazon, Technology, Gaming, Thomson Locations: Lauwin, France, Seattle, United States
Torch relay to start from Games hometown in Britain
  + stars: | 2023-11-10 | by ( Julien Pretot | ) www.reuters.com   time to read: +1 min
"We wanted it to kick off where the Paralympics were born," Paris 2024 president Tony Estanguet told a press conference. The torch will then be carried by 24 British athletes and midway through the Channel Tunnel 24 French athletes will take over for the journey to Calais. Eleven other flames will then be lit in France and all will converge on Paris for the Aug. 28 Games opening ceremony. German-born Guttmann became a British citizen in 1945 and organised the first Stoke Mandeville Games for disabled war veterans three years later. All participants in what Guttmann called the "Paraplegic Games" were suffering from spinal cord injuries and competed in wheelchairs.
Persons: Denis, Mathieu Lehanneur, Pascal, Ludwig Guttmann, Tony Estanguet, Guttmann, Julien Pretot, Ken Ferris Organizations: Press, Paris, Rights, Stoke, Stoke Mandeville Games, Concorde, Thomson Locations: France, Stoke Mandeville, Britain, Paris, Calais, British
[1/5] An aerial view shows a flooded area in Estree as the Canche River overflows near Montreuil-sur-Mer after days of heavy rain causing flooding in northern France, November 10, 2023. REUTERS/Pascal Rossignol Acquire Licensing RightsSAINT-ETIENNE-AU-MONT, France, Nov 10 (Reuters) - Days of heavy rains in northern France have caused local rivers to overflow and flood houses and fields, prompting the evacuation of residents, with some having to be airlifted to safety. More than 100 towns are on red alert, and some 200 schools in the region have been shut. But I've had losses in chickens, financial losses in terms of seeds and equipment, and so today, it's really hard." "We've never seen something like that," said campsite owner Jean-Marc Joyez in the village of Enquin-sur-Baillons, where many houses are flooded and roads submerged.
Persons: Pascal Rossignol, Gaetan Guche, I've, Loup Mionnet, We've, Jean, Marc Joyez, Christophe Bechu, Charlotte Van Campenhout, Ingrid Melander, Alison Williams, Jan Harvey Organizations: REUTERS, Thomson Locations: Estree, Montreuil, Mer, France, ETIENNE, MONT, Jean, Enquin
French told to stay indoors as storm Ciaran nears
  + stars: | 2023-11-01 | by ( ) www.reuters.com   time to read: 1 min
[1/5] Waves crash on a sea wall near wind turbines during Storm Ciaran at Boulogne-sur-Mer, France, November 1, 2023. REUTERS/Pascal Rossignol Acquire Licensing RightsBOULOGNE-SUR-MER, France, Nov 1 (Reuters) - France's weather service put some northern and western regions, including Brittany, under high alert and authorities urged people to stay indoors, saying storm Ciaran was set to hit overnight with heavy rain and winds of up to 170 kph. "To all those concerned, be careful ... and avoid moving around overnight," Interior Minister Gerald Darmanin said. Reporting by Pascal Rossignol; Writing by Ingrid Melander; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.
Persons: Ciaran, Pascal Rossignol, Gerald Darmanin, Ingrid Melander, Andrew Heavens Organizations: REUTERS, Thomson Locations: Boulogne, Mer, France, Brittany
EU regulators set new Feb 14 deadline on Amazon/iRobot deal
  + stars: | 2023-10-30 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsPARIS, Oct 30 (Reuters) - European Union (EU) antitrust regulators will decide by February 14 next year on whether to clear Amazon's (AMZN.O) $1.4 billion acquisition of robot vacuum maker iRobot (IRBT.O), according to a regulatory filing. In August, the EU's competition enforcer temporarily halted its investigation into the deal while it awaited more information. Its previous deadline for its decision on the deal was December 13. The EU's competition watchdog has previously warned Amazon that the deal may reduce competition in robot vacuum cleaners and also reinforce the U.S. company's dominant position as an online marketplace provider. In July, Amazon cut the price it would pay for iRobot by about 15% to around $1.42 billion after iRobot, which makes Roomba vacuum cleaners, incurred more debt.
Persons: Pascal, Sudip Kar, Jason Neely Organizations: REUTERS, Rights, Union, Amazon, Thomson
Smaller cloud rival Microsoft (MSFT.O) rose 1.5%, while Alphabet (GOOGL.O) was down about 1.3%. Amazon shares have rallied about 40% this year, but they have lost nearly 8% in the past two days after Alphabet (GOOGL.O) warned that cloud customers were curbing spending. In the July-September period, Amazon posted its first quarter-on-quarter increase in cloud growth in nearly two years. The 12.3% growth in AWS was slower than the 29% rise seen at Microsoft's (MSFT.O) Azure cloud business, which had topped market estimates. To be sure, Amazon's cloud business is larger than that of Microsoft and Google.
Persons: Pascal, Andy Jassy, Bernstein, brokerages, Morningstar, Dan Romanoff, Aditya Soni, Arun Koyyur Organizations: REUTERS, Microsoft, Amazon, Amazon Web Services, Reuters Graphics, Tech, Google, Tejas Dessai, Thomson Locations: Bengaluru
[1/2] A view shows the logo of Stellantis at the entrance of the company's factory in Hordain, France, July 7, 2021. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsOct 26 (Reuters) - Stellantis NV (STLAM.MI) said on Thursday it would invest 1.5 billion euros ($1.58 billion) to acquire approximately 20% of Chinese electric vehicle (EV) maker Zhejiang Leapmotor Technology (9863.HK). After the subscription, Stellantis will own about 21.07% of Zhejiang Leapmotor's total issued Hong Kong shares. Stellantis, whose brands include Fiat and Peugeot, has a very small presence in China, the world's largest auto market. The group last year closed its joint venture that makes Jeeps in China with local partner Guangzhou Automobile Group (601238.SS) amid disappointing results.
Persons: Pascal, Leapmotor, Stellantis, Carlos Tavares, Sameer Manekar, Kanjyik Ghosh, Devika Syamnath, Subhranshu Organizations: REUTERS, Stellantis, Zhejiang Leapmotor Technology, HK, Hong, Hong Kong, Chrysler, Fiat, Peugeot, Renault, Guangzhou Automobile Group, Thomson Locations: Hordain, France, Zhejiang, Hong Kong, Greater China, China, Europe, Bengaluru
Dutch Consumer Group Sues Amazon Over Data Tracking
  + stars: | 2023-10-20 | by ( Catherine Stupp | ) www.wsj.com   time to read: 1 min
The class-action lawsuit represents around five million Amazon account holders residing in the Netherlands, SDBN said. Photo: PASCAL ROSSIGNOL/REUTERSA consumer-rights group in the Netherlands sued Amazon on Wednesday over its alleged practice of tracking website visitors’ online activity, using recently expanded legal provisions allowing class actions. The lawsuit, filed in a Dutch court by Stichting Data Bescherming Nederland, or SDBN, said Amazon is violating the European Union’s privacy law by monitoring visitors to popular websites through cookies—the pieces of code that identify individual browsers to create targeted advertisements—without their permission.
Persons: SDBN, PASCAL ROSSIGNOL Organizations: REUTERS, Amazon, Stichting Data Bescherming Locations: Netherlands
French police and firefighters stand in front of the Gambetta-Carnot school, where French teacher Dominique Bernard was killed in a knife attack on Friday, after the school was evacuated following a bomb alert in Arras, northern France, October 16, 2023. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsPARIS, Oct 18 (Reuters) - A 20-year-old man suspected of stabbing a teacher to death and wounded three people at a French school has been placed under formal investigation for murder in connection with a terrorist organisation, the anti-terrorism prosecutor's office said. The main suspect in the Friday attack, known as Mohammed M, had pledged allegiance to the Islamic State group, anti-terrorism prosecutor Jean-Francois Ricard said before the man was placed under investigation on Tuesday evening. Mohammed M's 16-year old brother was put under formal investigation for complicity in murder in relation with a terrorist organisation and their cousin was put investigation for voluntarily abstaining from preventing a crime, the office said in a statement on Wednesday. Reporting by Dominique Vidalon; editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.
Persons: Gambetta, Carnot, Dominique Bernard, Pascal, Mohammed M, Jean, Francois Ricard, Mohammed M's, Gerald Darmanin, Dominique Vidalon, Robert Birsel Organizations: REUTERS, Rights, Islamic State, Thomson Locations: Arras, France, Israel
The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, November 15, 2022. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsOct 18 (Reuters) - Amazon.com (AMZN.O) said on Wednesday it was using a robotic system at one of its Houston warehouses to improve inventory management and speed up deliveries, building on its years-long bet that automation will help boost sales and worker safety. The technology, called "Sequoia", brings together a series of systems including mobile robots and robotic arms. Amazon said Sequoia can help identify and store inventory 75% faster, while reducing the time to process orders at a warehouse by as much as 25%. The company said it would begin testing a bipedal robot called "Digit" from Agility Robotics, a startup backed by Amazon.
Persons: Pascal, Zaheer Kachwala, Shounak Dasgupta Organizations: REUTERS, Walmart, Agility Robotics, Amazon, Ford, Thomson Locations: Lauwin, France, Houston, Bengaluru
South Africa will be Amazon's 21st country with a local domain name-based website, challenging a slew of online retailers dominated mainly by Naspers' (NPNJn.J) Takealot.com. "The launch of Amazon.co.za in 2024 will provide independent sellers throughout the country an opportunity to rapidly launch, grow, and scale their businesses," Amazon said in a statement. The launch of its service comes at a time when South Africa has seen a sharp rise in online shopping after the pandemic created an opportunity for e-commerce to finally take hold, with retailers doubling down on investments in response. "I don't think their takeover of South Africa retail is a slam dunk," said Sasfin Wealth senior equity analyst Alec Abraham. While Amazon is expected to intensify competition with local online and traditional retailers, "the reality is that the consumer pie in South Africa is not growing," he said.
Persons: Naspers, Pascal, Alec Abraham, Mamongae Mahlare, Nqobile, Promit Mukherjee, Mark Potter Organizations: REUTERS, Sasfin Wealth, Amazon, Takealot, Reuters, Thomson Locations: Africa, JOHANNESBURG, South Africa, Egypt
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