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☆ Federal regulator says Amazon can be held responsible for faulty goods sold on its marketplace
▼ + stars: | 2024-07-30 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

Federal regulators have determined that Amazon can be held responsible for defective goods sold by third-party merchants on its online marketplace, rejecting the company's position that it's merely an intermediary between consumers and sellers. Amazon's marketplace, which hosts millions of third-party sellers, now accounts for approximately 60% of the company's e-commerce sales. The company has previously said it invests hundreds of millions of dollars per year to ensure products sold are safe and compliant. At issue were 418,818 goods sold through Amazon, including faulty carbon monoxide detectors, hairdryers without electrocution protection and children's sleepwear that posed a burn risk. This program gives Amazon "far-reaching control" over the products sold on its platform, the judge said.

Persons: it's, It's, they're Organizations: U.S . Consumer Product Safety Commission, Amazon, Consumer Locations: Robbinsville , New Jersey, U.S, Tennessee

☆ Amazon plans 'Big Spring Sale' that's not just for Prime members starting March 20
▼ + stars: | 2024-03-14 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon will host a spring sale next week with discounts on seasonal items, and this one is not restricted to Prime members. Amazon said Thursday that the event, which it's calling the "Big Spring Sale," will run for six days starting March 20, in North America. Unlike the Prime Day discount bonanza typically held in the summer, next week's event will be open to shoppers who don't pay for a Prime membership. The subscription program costs $139 per year, or $14.99 a month, in the U.S., and perks include free, speedy shipping; video streaming; and access to exclusive Prime Day deals. The company is launching its spring event as shoppers, grappling with high inflation, remain hungry for discounts.

Persons: Amazon Organizations: Amazon, U.S . Department of Labor Locations: Robbinsville , New Jersey, North America, U.S

☆ Amazon to pay $1.9 million to migrant contract workers to settle claims of human rights abuses
▼ + stars: | 2024-02-23 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

Amazon will pay more than 700 migrant workers roughly $1.9 million to settle claims they suffered human rights abuses as a result of exploitative labor contracts in Saudi Arabia. While they worked at Amazon warehouses, the workers were housed in accommodations that were "overcrowded and dirty, infested with bed bugs and lacking even the most basic facilities," Amnesty wrote. The abuses suffered by workers were so severe that they likely amounted to "human trafficking for the purpose of labor exploitation as defined by international law and standards," Amnesty wrote in the October report. Amazon has disputed regulators' allegations, and it has said it continues to invest in worker safety. WATCH: Amazon's worker safety hazards come under fire from regulators and the DOJ

Persons: Verité, Abdullah Fahad Al, AFMCO, they're Organizations: Amazon, Amnesty, International Consortium of Investigative Journalists, Investigative Journalism, Guardian Locations: Robbinsville , New Jersey, Saudi Arabia

☆ The cloud is back at Amazon, putting the stock on a path back to Covid-era record highs
▼ + stars: | 2024-02-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

Would you look at the quarter Amazon just delivered. One of the main highlights came from its cloud unit, Amazon Web Services (AWS), where revenue growth finally accelerated. Better yet, management's comment about how it expects accelerating AWS revenue trends to continue through 2024 should keep the bulls happy. If the AWS revenue growth acceleration continues and the company continues its progress on expanding margins, the stock should get back there. Driving this accelerating revenue growth was an increase in larger new deals while the cost optimization headwind "continued to attenuate," the company said.

Persons: Amazon's, we're, Amazon, Jim Cramer's, Jim Cramer, Jim, Mike Segar Organizations: Amazon, Revenue, LSEG, Amazon Web Services, Microsoft, AWS, Management, Prime, Subscription Services, CNBC Locations: North America, Robbinsville , New Jersey

REUTERS/Mike Segar/File Photo Acquire Licensing RightsDec 1 (Reuters) - Retailers like Amazon.com and Foot Locker are signaling optimism for holiday season sales after stronger-than-expected figures during Black Friday and Cyber Monday, as heavy discounts lured budget-strained customers on the peak U.S. shopping days. Early estimates on holiday shopping have been encouraging to some investors after retailers sounded cautious notes in the lead-up to the season. "We know we're buying for wallet share with a value-conscious consumer this holiday season. Deep discounts have been a key feature heading into this year's holiday shopping season and holiday discounts could get even bigger in December, according to some retail executives. Kohl's (KSS.N) CEO Tom Kingsbury said last week the company was "coming out on holiday very aggressively in terms of promotions."

Persons: Mike Segar, Jimmy Lee, we've, Mary Dillon, Tom Kingsbury, Cos, Jason Benowitz, Deborah Sophia, Juby Babu, Pooja Desai Organizations: REUTERS, Adobe Analytics, National Retail Federation, Wealth Consulting, Amazon, Black, BofA, Walmart, Abercrombie, Fitch, American Eagle Outfitters, Roosevelt, Thomson Locations: Robbinsville , New Jersey, U.S, Bengaluru

Nov 28 (Reuters) - Spending online on Cyber Monday is set to exceed $12 billion, a record, as bargain hunters snap up deals on items including Barbie dolls, Lego sets, headphones and smart watches, according to preliminary estimates from Adobe Digital Insights. The estimate projects U.S. shoppers will spend $12 billion-$12.4 billion on Cyber Monday, the biggest U.S. online shopping day. At the top end, this would represent an 9.7% increase compared to the $11.3 billion spent on Cyber Monday last year. Walmart, eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days. On Monday, Walmart stepped up discounts on some clothing to 60%, up from the 50% it offered on Black Friday.

Persons: Barbie, Nancy Tengler, Eduardo Munoz, Matthew Katz, Charles Sizemore, Sizemore, Siddharth Cavale, Deborah Sophia, Aishwarya Venogupal, Ananya Mariam Rajesh, David Gregorio, Nick Zieminski, Matthew Lewis, Lincoln Organizations: Adobe Digital, Retailers, Adobe Analytics, Investments, Shoppers, Workers, REUTERS, SSA & Company, Walmart, Sizemore Capital Management, Target, Graphics, Insider Intelligence, Thomson Locations: Scottsdale , Arizona, United States, Robbinsville Township, New Jersey, U.S, New York, Bengaluru

☆ Amazon touts 'record-breaking' sales in kickoff to holiday shopping season
▼ + stars: | 2023-11-28 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon said Tuesday it rang up "record-breaking" sales in the run-up to Cyber Monday as consumers, still pinched by inflation, sought discounts. The company said the period from Nov. 17 to Cyber Monday marked its "biggest ever" holiday shopping event compared to the same 11-day stretch last year. Amazon, which did not disclose actual sales figures, added that shoppers worldwide bought more than 1 billion items during the period. Retailers and analysts were cautious heading into this year's holiday shopping season. While consumers have remained resilient, grocery prices remain high, and the resumption of student loan payments has eaten into some shoppers' holiday budgets.

Persons: Doug Herrington Organizations: Amazon, Deal, Worldwide Amazon Stores, U.S, Adobe Analytics, Adobe's Locations: Robbinsville , New Jersey, U.S

Spending online on Cyber Monday is set to reach as much as $12.4 billion, according to Adobe Digital Insights, which tracks data through Adobe's Experience Cloud service for e-commerce platforms. Last-minute shoppers on Monday could spend $4 billion between 6 p.m. and 11 p.m. EST alone, it said. Other firms use different measurements to gauge purchases on Cyber Monday, the biggest online shopping day of the year in the United States. Salesforce, which tracks data flowing through its Commerce Cloud e-commerce service, said online sales on Cyber Monday were up by 4% by 4 p.m. EST, hitting $7 billion by late afternoon. Walmart, eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days.

Persons: Salesforce, Eduardo Munoz, Brian Yacktman, Charles Sizemore, Sizemore, Siddharth Cavale, Deborah Sophia, Aishwarya Venogupal, Ananya Mariam Rajesh, David Gregorio, Nick Zieminski, Matthew Lewis Organizations: Adobe Digital, Adobe, Commerce, Shoppers, Workers, REUTERS, YCG Investments, Nike, Black, Sizemore Capital Management, Walmart, Amazon, Graphics, Insider Intelligence, Thomson Locations: United States, Robbinsville Township, New Jersey, U.S, New York, Bengaluru

NEW YORK, Nov 27 (Reuters) - A record amount of price-pinched holiday shoppers are expected to use buy now, pay later services for Cyber Monday to relieve stress on their wallets, according to Adobe Analytics. [1/2]A worker sorts products during Cyber Monday at the Amazon's fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2023. The buy now, pay later firm saw a 29% increase in orders placed by U.S. shoppers on Black Friday, with some of the most popular items being personal electronics, televisions and kitchen appliances. It's become really, really, really popular," said Dan Dolev, an analyst at Mizuho Securities. Average basket sizes for buy now, pay later orders on Black Friday declined 32% compared to last year, according to a report from Quantum Metric, a sign that shoppers aren't making as big of purchases this year.

Persons: Klarna, BNPL, Mike Segar, It's, Dan Dolev, Arriana McLymore, Deborah Sophia, Juveria Tabassum, Aurora Ellis Organizations: Adobe Analytics, Shoppers, REUTERS, Mizuho Securities, Black, Thomson Locations: Robbinsville , New Jersey, U.S, New York City, Bengaluru

☆ Deal-hunters fuel $12 billion Cyber Monday shopping spree
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Eduardo Munoz Acquire Licensing RightsNov 27 (Reuters) - After a busy holiday shopping weekend, discount seekers are expected to spend between a record $12 billion and $12.4 billion on beauty products, electronics, toys and apparel on Cyber Monday, according to Adobe Analytics. Heavy online traffic and transactions could add up to a boost in sales by U.S. shoppers of 5.4% or more, according to Adobe. Shoppers spent $10.3 billion in the weekend leading up to Cyber Monday, up 7.7% from last year as retailers offered more discounts compared to last year. More merchandise was being discounted in the weekend leading up to Cyber Monday, according to a report from LSEG. Walmart (WMT.N) , eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days.

Persons: Eduardo Munoz, Vivek Pandya, Pandya, TJ Maxx, Jharonne Martis, LSEG, Rob Garf, Garf, Vanessa O'Connell, Deborah Sophia, Arriana, David Gregorio, Nick Zieminski Organizations: Workers, REUTERS, Adobe Analytics, U.S, Adobe, Shoppers, Adobe Digital, Walmart, Reuters, Costco, Commerce, Insider Intelligence, Thomson Locations: Robbinsville Township, New Jersey, U.S, Salesforce, Ross

☆ US Cyber Monday online sales set to cross $12 billion as big discounts lure shoppers - report
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

Boxes ready to be delivered are seen during Cyber Monday at the Amazon fulfilment centre in Robbinsville Township in New Jersey, U.S., November 28, 2022. REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsNov 27 (Reuters) - U.S. shoppers looking for steep discounts are set to boost Cyber Monday online sales to a record $12 billion to $12.4 billion, splurging on products like Barbie dolls and headphones, data from Adobe Analytics showed. The midpoint of the range represents a jump of nearly 8%, better than Adobe's initial forecast of a 6.1% rise to $12 billion, easing concerns of a lackluster 2023 holiday shopping season. Salesforce also predicted Cyber Monday online sales would grow in the high-single-digit percentage range, both globally and in the United States. Reporting by Juby Babu and Deborah Sophia in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Eduardo Munoz, Barbie, Salesforce, Juby Babu, Deborah Sophia, Pooja Desai Organizations: REUTERS, Adobe Analytics, Thomson Locations: Robbinsville Township, New Jersey, U.S, United States, Bengaluru

☆ Amazon’s shipping splurge delivers payoff
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

A worker sorts products during Cyber Monday operations at the Amazon's fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2023. In 2016, before its in-house logistics initiative took off, global shipping costs tallied about $16 billion, with customers covering about half. Last year, the total expense was about five times higher. Moreover, higher turnover means higher profit, especially from ancillary services such as advertising. And that’s before the generally lucrative holiday season, which should bring Amazon shareholders some more upbeat shipping news.

Persons: Robert Cyran, Julius Baer’s, Warren Buffett, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, UPS, FedEx, Wall Street Journal, Services, Shipping, Amazon, X, Thomson Locations: Robbinsville , New Jersey, U.S, America, China

☆ Price-sensitive US shoppers nab early 'Cyber Monday' deals
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +3 min

[1/3] Workers select and pack items during Cyber Monday at the Amazon fulfilment center in Robbinsville Township in New Jersey, U.S., November 28, 2022. Heavy online traffic and transactions could add up to a record $12 billion outlay by U.S. shoppers on Cyber Monday, according to Adobe Analytics. "You have consumers out there who are very price-sensitive and conscientious, and who want to make sure they get the very best possible deal." Walmart (WMT.N) , eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days. Last-minute shoppers on Monday could spend $4 billion between 6 p.m. and 11 p.m.

Persons: Eduardo Munoz, Vivek Pandya, Pandya, Rob Garf, Garf, Vanessa O'Connell, David Gregorio Our Organizations: Workers, REUTERS, Adobe Analytics, Adobe Digital, Walmart, Adobe, Commerce, Thomson Locations: Robbinsville Township, New Jersey, U.S, Salesforce

☆ A $96 Million Hindu Temple Opens Amid Accusations of Forced Labor
▼ + stars: | 2023-10-21 | by ( Sarah Pulliam Bailey | ) www.nytimes.com time to read: 1 min

Hindu pilgrims walked barefoot on the marble floors of the enormous temple, examining intricate stone carvings of deities etched into the ceilings and images of musical instruments and elephants along the white walls. As they approached a large gold shrine, many gasped in wonder, having arrived at the place where they believe God resides in the form of sacred images. The recent opening of Akshardham Mahamandir in Robbinsville, N.J., was a historic moment for Hindus in New Jersey and beyond. The temple, about 15 years in the making, is believed to be the largest in the Western Hemisphere and is expected to draw religious pilgrims and tourists from all over the world.

Organizations: Western Locations: Robbinsville, N.J, New Jersey

☆ Rite Aid is closing nearly 100 stores as part of its bankruptcy. See the list
▼ + stars: | 2023-10-18 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

New York CNN —Rite Aid, which had filed for Chapter 11 bankruptcy protection, is now preparing to shed almost 100 stores nationwide as part of its restructuring efforts. Over the past six years, Rite Aid has tallied nearly $3 billion in losses. in Costa Mesa, California139 North Grand Ave. in Covina, California20572 Homestead Road in Cupertino, California24829 Del Pradoin Dana Point, California7859 Firestone Blvd. in Yorba Linda, California25906 Newport Road in Menifee, California1600 North Main St. in Meridian, Idaho5808 Ritchie Hwy. in Mill Creek, Washington601 South Grady Way in Renton, Washington2707 Rainier Ave. in South Seattle, Washington– CNN’s David Goldman contributed to this story

Persons: Del, Dana, Glen, Ephraim Ave, Arnold St, Nicholas Ave, Reed, Washington – CNN’s David Goldman Organizations: New, New York CNN — Rite, Real Estate Partners, Rite Aid, Amazon, Walmart, Target, Costco, Aid, Solutions, SEC Alabama, Valley, Firestone, Alvarado St, Fulton, Yorba, Bel Air, Pulaski, Garfield, Main St, Clinton St, Michigan, Whittemore St, Hamilton St, Sunrise, Elmwood, New Carlisle , Ohio Euclid, Gettysburg, Medford, 9th St, Liberty, Eisenhower, Stevenson, 5th St, Reed St, Oxford, 63rd, Brighton, East Central, St, Evergreen, Grady Locations: New York, California, Maryland, Michigan, New Jersey, Ohio, Oregon, Pennsylvania, Washington, Alabama, Idaho, Pike, Monroeville , Alabama, Alhambra , California, Bellevue, Atwater , California, Costa Mesa , California, Covina , California, Cupertino , California, Dana Point , California, Downey , California, Irvine , California, La Mirada , California, Laguna Niguel , California, South Centinela, Los Angeles , California, Alvarado, Monterey , California, St, Ramona , California, Fulton Ave, Sacramento , California, Santa Cruz , California, Yorba Linda , California, Menifee , California, Main St, Meridian , Idaho, Baltimore , Maryland, Bel Air , Maryland, Elkton , Maryland, Glen Burnie , Maryland, Gratiot, Clinton Township , Michigan, Detroit , Michigan, Farmington Hills , Michigan, Fremont , Michigan, Clinton, Grand Ledge , Michigan, Jackson , Michigan, Macomb , Michigan, U.S, Manistee , Michigan, Redford , Michigan, Shelby Township , Michigan, St . Johns , Michigan, Centerville, Sturgis , Michigan, Taylor , Michigan, Wixom , Michigan, Berlin , New Hampshire Grove St, Peterborough , New Hampshire, Browns Mills , New Jersey, Camden , New Jersey, Lumberton , New Jersey, Bridgeton Pike, Mantua , New Jersey, Mullica Hill , New Jersey, Edinburg, Robbinsville , New Jersey, Hamilton, Somerset , New Jersey, Williamstown , New Jersey, Bay Shore , New York, Buffalo , New York, Copiague , New York, East Northport , New York, Floral, , New York, Jamaica , New York, Elmwood Ave, Kenmore , New York, Hempstead, Levittown , New York, Patchogue, Yaphank, Medford , New York, New York , New York, Port Jefferson , New York, Sayville , New York, Smithtown , New York, West Patchogue , New York, New Carlisle , Ohio, Strathmore, East Cleveland , Ohio, Dayton , Ohio, Cleveland , Ohio, Medford , Oregon, Cully, Portland , Oregon, 9th, Chester , Pennsylvania, Coraopolis , Pennsylvania, Erie , Pennsylvania, Greensburg , Pennsylvania, Hanover , Pennsylvania, New Castle , Pennsylvania, New Kensington , Pennsylvania, Pennsburg , Pennsylvania, 5th, Philadelphia , Pennsylvania, Venango St, 63rd St, Pottsville , Pennsylvania, Rochester , Pennsylvania, East Central Ave, Titusville , Pennsylvania, White Haven , Pennsylvania, Bellevue , Washington, Bellingham , Washington, Blaine , Washington, Covington , Washington, Everett , Washington, Lynnwood , Washington, Mill Creek, Renton , Washington, Rainier, South Seattle

☆ Rite Aid is planning to close about 150 locations. See if your local store is on the list.
▼ + stars: | 2023-10-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +9 min

Rite Aid filed plans to close 154 stores on Monday as part of its Chapter 11 bankruptcy. Rite Aid is the smallest of the three major drugstore chains, well behind CVS and Walgreens. Rite Aid was expected to close stores as part of its bankruptcy. Rite Aid told Insider that it considers a variety of factors when deciding to close a store, "including business strategy, lease and rent considerations, local business conditions and viability, and store performance." "We will also strive to transfer associates to other Rite Aid locations where possible," the company said.

Persons: —, Glen, Taylor, Daniel Webster, Merrick, William Penn, Redmond, Lacey Organizations: CVS, Walgreens, Service, Pennsylvania . Rite Aid, Wall Street Journal, Rite Aid, Rite, Crenshaw, Hollywood Way, San, Niguel, Yorba, Santa, Thompson Boulevard, Ventura, Atwater, Overland, Meridian, Main, Bel, Bel Air South, Park, Main Street, Lafayette, Garfield, Garden, Ford, Flint, Farmington, Whittemore Street, New Jersey :, Marshall, Bridgeton Pike, Whiting, Pike, Huntington, Jericho Turnpike, Jeff, North Street, Cesar, Chavez, Pennsylvania, Stevenson, Bethel, Union, Allentown, Fourth Street, Fifth, Washington Lane, Street, Central Avenue, Grady, Everett Locations: California, New York, Pennsylvania, Los Angeles, Rock, Centinela, Downey, Beach, Burbank, Hollywood Way Covina, Puente, Alhambra, Oceanside, San Diego, Yorba Linda, Santa Ana, Thompson, Thompson Boulevard Oxnard, Cupertino, Santa Clara, Cruz, Bellevue, Sacramento, Boulevard Ontario, Irvine, Monterey, Alvarado Street Connecticut, Bethel, Greenwood, Delaware, Newark, Hill, Wilmington, Idaho, Boise, Maryland, Elkton, Pulaski, Baltimore, Glen Burnie, Baltimore Annapolis Boulevard Massachusetts, Webster, Main Street Michigan, Fremont, Greenville, Clinton, Macomb, Sturgis, Centerville, Clinton Township, Gratiot, Shelby Township, Dyke, Jackson, Michigan, Manistee, Garden City, North, Detroit, Farmington Hills, St, Johns, Whittemore Street Lansing, Hampshire, Merrimack, New Jersey, New Jersey : West Milford, Mantua, Bridgeton, Irvington, Somerset, Williamstown, Pike New York, Brooklyn, Shore, Merrick, East Northport, Jericho, Jericho Turnpike Medford, Patchogue, West Patchogue, Kenmore, Rochester, Flushing, Levittown, Ohio, Massillon, East New Carlisle, Dayton, Youngstown, Springfield, North Street Bellefontaine, Oregon, Portland, Kensington, Brighton, Bethel Park, Pittsburgh, Greensburg, Bethlehem, Fourth Street Philadelphia, Venango, Washington, Conshohocken, Hanover, Mechanicsburg, Erie, Abington, York, Johnstown, Ardmore, Lancaster, Pittston, Wyoming, Yardley, Chester, Street Titusville, Central Avenue Virginia, Chesapeake, Pleasant, Seattle, Graham, Renton

That shift in legal doctrine was profound, shaping how courts have applied antitrust law ever since. Khan’s ideas have challenged the closest thing to a sacred cow in antitrust law. The most ambitious of those never became law, but Khan’s role in the probe, which Cicilline described as “critical,” helped further raise her profile. Amazon and Meta have both pushed for Khan to recuse herself from matters involving the companies, questioning her objectivity. The US Federal Trade Commission sued Amazon.com Inc. in a long-anticipated antitrust case, accusing the e-commerce giant of monopolizing online marketplace services by degrading quality for shoppers and overcharging sellers.

Persons: Lina Khan, Khan, Stephanie Keith, ” Khan, “, Joe Biden, ”, William Kovacic, George W, Bush, Barry Lynn, Lynn, New America Foundation —, Obama, —, ” Lina Khan, Rong Xu, ” Lynn, it’s, ’ ”, Reagan, Robert Hockett, Khan’s, David Cicilline, Lina, ” Cicilline, Cicilline, Justin Tallis, Biden, Trump, Douglas Farrar, Gary Gensler, Tom Williams, Jonathan Kanter, Roe, Wade, Kevin Kiley, Meta, she’s, “ We’ve, they’re, Federal Trade Commission Lina Khan, Al Drago, Kathleen Bradish, Bradish, Christine Wilson, Wilson, Noah Phillips, Gabby Jones, NetChoice, Carl Szabo, “ It’s, ” Szabo, There’s, ” Kovacic Organizations: CNN, Federal Trade Commission, Amazon, FTC, Big, Microsoft, Meta, Bloomberg, Getty, Republican, White House, Williams College, New America Foundation, Washington Monthly, Yale Law, Washington Post, Cornell Law School, Big Tech, Rhode, Rhode Island Democratic, Apple, Facebook, Cambridge, Activision, SEC, Financial Services, General Government, Securities and Exchange Commission, Capitol, Justice Department, Epic Games, California Republican, Washington , D.C, American Antitrust Institute, GOP, US Federal Trade Commission, Amazon.com Inc Locations: Big Tech, Robbinsville , New Jersey, Washington, Larchmont , New York, Rhode Island, Washington ,, New York

☆ Amazon is running a second Prime Day sale in October
▼ + stars: | 2023-08-08 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +1 min

Amazon is hosting a second Prime Day-like sales bonanza in October, the company announced Tuesday, seeking to hook consumers planning to start their holiday shopping early. Amazon first created Prime Day in 2015. The company held a 48-hour Prime Day event in July that boosted U.S. online sales 6.1%, resulting in $12.7 billion, according Adobe Analytics. The Prime Day sequel comes as retailers are bracing for a downbeat holiday spending season this year, according to the latest CNBC Supply Chain Survey. WATCH: At the end of the day Amazon has 'more levers to pull' than Apple

Organizations: Amazon, Deal, Adobe Analytics, CNBC Supply Chain Survey, Apple Locations: Robbinsville , New Jersey

☆ Amazon is using generative A.I. to summarize product reviews
▼ + stars: | 2023-06-12 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +1 min

Packages move along a conveyor belt at an Amazon Fulfillment center on Cyber Monday in Robbinsville, New Jersey, on Monday, Nov. 28, 2022. Amazon is turning to artificial intelligence to help users find the right product. The e-retailer recently began testing a feature in its shopping app that uses AI to summarize reviews left by customers on some products. A mobile listing for a children's "Magic Mixies" cauldron toy says that buyers gave positive feedback around its "fun factor, appearance, value, performance, quality, charging, and leakage." "For example, some customers have paid over $100 for a toy that wasn't worth it, while others have experienced issues with the product's quality and charging."

Locations: Robbinsville , New Jersey

Reviews from these members often appear as an "Amazon Vine Review" or a "Vine Voice." Amazon said it prohibits review abuse, including offering incentives like gift cards to write positive reviews. The rise of ChatGPT and other AI chatbots could make it easier for bad actors to generate fraudulent reviews. Third-party sellers on Amazon are already using the tool to help write product listings and catchy titles, as well as marketing copy. WATCH: Many of the reviews on Amazon are fake, here's how to spot them

☆ Amazon sellers are using ChatGPT to help write product listings in sprawling marketplace
▼ + stars: | 2023-03-28 | by ( Annie Palmer | ) www.cnbc.com time to read: +6 min

Michael Nagle | Bloomberg | Getty ImagesChad Rubin was looking for a way to spice up his Amazon listing for a vacuum hose. For assistance, Rubin turned to ChatGPT, the artificial intelligence chatbot that's gone viral since its launch late last year. Rubin asked ChatGPT to "generate 5 insanely clever and catchy headlines" for an infographic promoting his vacuum cleaner hose. A stream of YouTube videos, articles and LinkedIn posts have appeared in recent months touting the benefits of ChatGPT for Amazon sellers. Rubin said he plans to incorporate ChatGPT into a new tool that will help sellers quickly fine-tune their product listings.

☆ Amazon seller consultant admits to bribing employees to help clients; will plead guilty
▼ + stars: | 2023-03-27 | by ( Annie Palmer | ) www.cnbc.com time to read: +5 min

An influential consultant for Amazon sellers admitted Monday to bribing employees of the e-commerce giant for information to help his clients boost sales and to get their suspended accounts reinstated. "On some occasions, I paid bribes, directly and indirectly, to Amazon employees to obtain annotations and reinstate suspended accounts. Behind the scenes, scammers have for years resorted to illicit tactics to squash competitors, artificially boost their listings or bypass Amazon's marketplace rules. "No one should pay bribes to Amazon employees to provide private Amazon information," Rosenberg wrote on Monday. Nor should anyone pay any Amazon employees for any other special favors regarding a seller's account."

And while Amazon's holiday revenue beat Wall Street's expectations, sales growth from its lucrative cloud-computing division slowed during the fourth quarter. Amazon Chief Financial Officer Brian Olsavsky told reporters that the company expects slower cloud growth rates for the next few quarters as it worked with customers to optimize costs. Olsavsky also said the company remains nervous about consumer spending and how people will prioritize budgets moving forward. Facing high inflation and an uncertain economy, CEO Andy Jassy has aimed to slash costs across Amazon's vast array of businesses. The division fell short of estimates of more than $22 billion in fourth-quarter cloud sales, increasing them 20% to $21.4 billion.

☆ Amazon discontinues charity donation program amid cost cuts
▼ + stars: | 2023-01-18 | by ( Annie Palmer | ) www.cnbc.com time to read: +2 min

Amazon said Wednesday it plans to shut down its charity donation program, in the latest example of the company's broader cost-cutting efforts. Through the program, called AmazonSmile, the e-retailer donates a percentage of eligible purchases on the site to the shoppers' chosen charity organization. Amazon said it has donated roughly $500 million to charities since the program launched in 2013. Amazon now plans to wind down AmazonSmile by Feb. 20, the company said in a notice to customers posted to its website. "After almost a decade, the program has not grown to create the impact that we had originally hoped," the company said.

☆ Wall Street expects robust gains for these 10 Club stocks in 2023
▼ + stars: | 2023-01-03 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

After recently highlighting Club holdings that analysts tapped as their top picks for 2023, we wanted to take the Street's temperature on our stocks in a different way. Humana Percentage of analysts with a buy/overweight rating: 80% Upside to average price target: 19.5% Humana is the only Club holding besides Halliburton to post share gains in 2022 and land on Tuesday's top-10 screen. Salesforce Percentage of analysts with a buy/overweight rating: 78% Upside to average price target: 47.2% Add Salesforce to the list of beaten-up tech stocks that most analysts expect to recover in 2023. Advanced Micro Devices Percentage of analysts with a buy/overweight rating: 76% Upside to average price target: 35.7% Of the 10 stocks on this list, AMD saw the biggest decline in 2022. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

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