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☆ Amazon’s Profit Triples as Sales Show Resilience Leading Into Holidays
▼ + stars: | 2023-10-26 | by ( Sebastian Herrera | ) www.wsj.com time to read: 1 min

An Amazon same-day fulfillment facility in Richmond, Calif. Photo: Marissa Leshnov for The Wall Street JournalAmazon.com said profit tripled to nearly $10 billion from July to September as strong sales in its cloud-computing, advertising and retail units helped the company continue its rebound from postpandemic lows. Chief Executive Andy Jassy said the company would reap tens of billions of dollars in revenue in the next several years as customers turn to generative AI opportunities available within its cloud-computing business, known as Amazon Web Services, or AWS. Business customers are likely to be less cautious with their spending, he said.

Persons: Marissa Leshnov, Andy Jassy Organizations: Wall Street, Amazon Web Services, Business Locations: Richmond , Calif

☆ Amazon’s advertising revenue tops $12 billion in the third quarter
▼ + stars: | 2023-10-26 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

(Photo by Joan Cros/NurPhoto via Getty Images)Amazon's online advertising business continues to boom amid growing investor concerns that the Israel-Hamas War could negatively impact the world economy. Analysts polled by StreetAccount were expecting Amazon's advertising business to generate $11.6 billion in third-quarter revenue. Investors closely monitor Amazon's online advertising unit, which now accounts for 7.5% of the global digital ad market, according to Insider Intelligence. Alphabet is still the digital advertiser leader with 28.4% share of the world online ad market, while Meta accounts for 20.1%, the research firm said. Alphabet reported third-quarter earnings this week and said that its Google advertising revenue jumped 9% year-over-year to $59.65 billion while YouTube ad sales rose 12% year-over-year to $7.95 billion.

Persons: Joan Cros, StreetAccount, Meta, Susan Li, Brad Gerstner Organizations: AMD, Amazon Marketing Services, Mobile, Getty, Intelligence, Meta, Facebook, Google, YouTube Locations: BARCELONA, SPAIN, Barcelona, Spain, Israel, Hamas

NEW YORK (AP) — Amazon on Thursday reported strong revenue and profits from the summer months driven by growth in online sales and its advertising business. Amazon made $9.9 billion in profits, topping analysts' expectations and sending its stocks higher in after-hours trading. Amazon is also seeing strong customer demand across categories like beauty, health and personal care items, Olsavsky said. Meanwhile, Amazon's cloud competitors have delivered mixed results. Earlier this week, Microsoft reported strong revenue for its flagship cloud platform, Azure, while revenue from Google’s Cloud division fell below analysts’ expectations.

Persons: Andy Jassy, Brian Olsavsky, “, ” Olsavsky, Olsavsky, ”, Jassy, FactSet, Lina Khan Organizations: Amazon, Amazon's, Revenue, Web Services, AWS, Microsoft, Google’s, Federal Trade Commission, Big Tech Locations: San Francisco

☆ Amazon Revenue Jumps as Consumer and Business Spending Improves
▼ + stars: | 2023-10-26 | by ( Karen Weise | ) www.nytimes.com time to read: 1 min

Amazon reported solid quarterly sales on Thursday, showing that corporations and consumers are spending as inflation has eased. The company posted $143.1 billion in revenue for the third quarter, up 13 percent from a year earlier. The results beat analysts’ expectations and surpassed Amazon’s own forecast. The fourth quarter is typically Amazon’s biggest, a period that includes Christmas shopping and an October deals event. Investors have been keenly focused on the performance of Amazon’s cloud computing business, which is critical to Amazon because it produces a majority of the company’s profits.

☆ If Amazon, why not Walmart?
▼ + stars: | 2023-10-25 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

Shopping habits vary widely, however, and the company’s pricing strategies are commonly used, including at Walmart (WMT.N). According to the complaint, if Amazon finds a cheaper product elsewhere, it punishes the seller by removing merchandise from the “buy box,” effectively tanking sales. Thus, the argument goes, Amazon prevents rivals from competing on price. Walmart, which bought Jet.com in 2016 for $3 billion, is also just as discerning when it comes to online pricing. The agency accuses Amazon of stifling competition on price, product selection and quality, and preventing rivals from attracting a critical mass of shoppers and sellers.

Persons: Lina Khan, Andy Jassy, Walton, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: Reuters, U.S . Federal Trade Commission, Walmart, Amazon, FTC, eBay, Amazon.com, Thomson Locations: United States

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken June 23, 2023. “It is clear over the last three years that transparency is on the decline while capability is going through the roof," said Stanford professor Percy Liang, a researcher behind the Foundation Model Transparency Index. Foundation models are AI systems trained on massive datasets that can perform a variety of tasks from writing to coding. The index’s authors hope that the report will encourage companies to increase their foundation model transparency, and also serve as a starting point for governments grappling with how to regulate the burgeoning field. The index is a project from the Stanford Institute for Human-Centered Artificial Intelligence’s Center for Research on Foundation Models.

Persons: Dado Ruvic, Percy Liang, Amazon’s, OpenAI’s, Anna Tong, David Gregorio Our Organizations: REUTERS, Stanford University, Google, Stanford, Microsoft, Stanford Institute for, for Research, Thomson Locations: San Francisco

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

☆ Prime Deals Still On Sale: Shop Our Vetted Favorites on Sale for 2023
▼ + stars: | 2023-10-12 | by ( Bellamy Richardson | ) www.wsj.com time to read: +2 min

By Bellamy RichardsonAmazon’s Prime Big Deal Days may technically be over, but dozens of quality products are still on sale. Don’t miss big sales on products we love, including some of our favorite wireless earbuds and portable bluetooth speakers. Travel dealsIf you’re getting ready for an upcoming trip, Big Deal Days can help you save big when upgrading your travel gear. Home dealsWhether you’re shopping for the bedroom, bathroom or home office, Big Deal Days has plenty of home products on sale, including some of our favorite vacuums, mattresses and pillows. Beauty, health and wellness dealsWe all need a self-care day every once in a while, and Big Deal Days is a great reason to upgrade your everyday products.

Persons: Bellamy Richardson, you’ll, you’re, fryer Organizations: Big, Big Deal, Tech

☆ The Best Tech Deals During Prime Big Deal Days
▼ + stars: | 2023-10-10 | by ( Nick Guy | ) www.wsj.com time to read: +6 min

By Nick GuyWhether you’re looking for a new pair of AirPods, a portable projector or smart home security products, Amazon’s Prime Big Deal Days has something for you. We sorted through the wide range of tech deals to bring you the best sales on top-rated gear that Buy Side recommends. While you’re shopping, make sure to check out our list of the best overall deals that includes more than 100 products. MagSafe battery packAn upgraded version of a portable power bank we love for the iPhone is matching its lowest price ever during Prime Big Deal Days. It’s our pick for the best lower-price Bluetooth speaker and during Prime Big Deal Days, it’s even more affordable at $20 off.

Persons: Nick Guy, you’re, They’ll, it’s, They’re, you’ve, we’ll, they’re, Anker Organizations: Apple, Apple Watch, Amazon, Deal, JBL

That same year, Amazon unsuccessfully sought to get her recused from agency probes against the company, arguing she was too biased. The District of Columbia also tried to sue Amazon on antitrust grounds before, but its lawsuit was dismissed by a federal judge last year. Experts say the FTC faces a few hurdles in its own case, including convincing the court which slice of the market Amazon is allegedly monopolizing. In a blog post responding to the lawsuit, Amazon General Counsel David Zapolsky accused the FTC of attempting to “gerrymander alleged market” to portray Amazon as something it’s not. The FTC also alleges Amazon keeps sellers dependent on services that have allowed it to collect billions in revenue every year.

Persons: Lina Khan, hasn’t, Khan, Joe Biden, ” Khan, David Zapolsky, “ gerrymander, ”, Neil Saunders, Maurice Stucke, Stucke, Sean Sullivan, they’re Organizations: Federal Trade, Activision Blizzard, FTC, Microsoft, Yale Law, Amazon, of, Walmart, GlobalData, Google, Department of Justice, University of Tennessee, University of Iowa College of Law Locations: California, of Columbia, U.S, monopolization

☆ Over 10,000 pre-Columbian earthworks are still hidden in the Amazon, study finds
▼ + stars: | 2023-10-10 | by ( Mindy Weisberger | ) edition.cnn.com time to read: +7 min

Known as earthworks, they were shaped by indigenous peoples who lived in the area around 500 to 1,500 years ago. Many Amazonian earthworks that predate the arrival of European colonizers are revealed in deforested areas. Heckenberger, who was not involved in the study, has conducted research in the Brazilian Amazon since the 1990s, working with indigenous peoples of the Xingu region. These findings further demonstrate that the cultural heritage of indigenous peoples in the Americas and elsewhere is “remarkably dynamic and innovative,” he added. So the scientists also mapped 937 known earthworks, instructing the model to highlight locations for potential earthworks that shared similar topographic features with previously detected sites.

Persons: it’s, ”, Vinicius Peripato, Peripatos, Michael Heckenberger, ” Heckenberger, Peripato, ” Peripato, lidar, Dr, Juan Carlos Fernandez Diaz, ” Fernandez Diaz, “, Mindy Weisberger Organizations: CNN, Brazil’s National Institute for Space Research, University of Florida, Brazilian Amazon, University of Houston, Scientific Locations: São Paulo, Brazilian, Americas, Brazil, Amazonia

☆ SpaceX fires back at FAA report suggesting its Starlink internet constellation could be deadly
▼ + stars: | 2023-10-10 | by ( Jackie Wattles | ) edition.cnn.com time to read: +5 min

CNN —SpaceX is asking federal regulators to correct a report that suggests the company’s Starlink satellite constellation could pose grave risks to people on Earth. The report was delivered to members of Congress by the Federal Aviation Administration, which licenses the launch and reentry of commercial spacecraft, on October 5. The letter also states that 325 Starlink satellites have already deorbited since February 2020, and no debris has been found. For purposes of this report, the FAA uses the more conservative approach,” according to the document. Starlink is mentioned 28 times in the FAA report, while Amazon’s Project Kuiper system is mentioned four times in data tables.

Persons: SpaceX, Starlink, ” Organizations: CNN, SpaceX, Federal Aviation Administration, Aerospace Corporation, FAA, Federal Communications Commission, Aerospace Corporation “, NASA Locations: China, rulemaking, United States

☆ Amazon Prime Big Deal Days is Oct. 10-11, 2023: Here’s How to Shop, Plus Some Early Deals
▼ + stars: | 2023-10-09 | by ( Nick Guy | ) www.wsj.com time to read: +5 min

By Nick GuyAmazon announced it’ll be holding Prime Big Deal Days, its second big sales event of the year, on October 10 and 11. During Prime Big Deal Days you can simply check out without having to browse and hunt down all your items. Pay with your Amazon credit cardThe Amazon Prime Visa credit card offers hard-to-beat cash back rewards for die-hard Amazon Prime shoppers, and even products discounted for Prime Big Deal Days are eligible for the rewards. Much like Black Friday door-busters, the items with the biggest Prime Big Deal Days discounts aren’t necessarily the best products. Compare sales on other sitesAlthough Amazon is the progenitor of Prime Big Deal Days, it’s not the only company offering up deals around this time.

Persons: Nick Guy Amazon, I’ve, ”, you’re, it’s Organizations: Deal, Facebook, Amazon, Visa, Big, Big Deal, Whole Foods, Prime, Walmart, Target

☆ Amazon UK to spend 170 mln stg on staff pay rises
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +1 min

People take part in a rally in support of Amazon workers' on strike, outside the Amazon warehouse, in Coventry, Britain, January 25, 2023. Pay rates will further increase to between 12.30 pounds and 13 pounds an hour from April next year. The increases mean Amazon’s minimum starting pay will have risen by 20% in two years, and 50% since 2018, it said. Amazon UK also said it has started recruiting for more than 15,000 seasonal roles across the UK for the festive period. Last week, supermarket groups Morrisons and Aldi said they were hiring 3,500 and 3,000 extra staff for the Christmas season.

Persons: Henry Nicholls, BoE, James Davey, Kate Holton Organizations: REUTERS, Bank of, Amazon, Aldi, Thomson Locations: Coventry, Britain, Bank of England

MANAUS, Brazil (AP) — Communities dependent on the Amazon rainforest's waterways are stranded without supply of fuel, food or filtered water. These are just the first grim visions of extreme drought sweeping across Brazil’s Amazon. Raimundo Silva do Carmo, 67, makes his living as a fisherman, but these days has been struggling to simply find water. Like most rural residents in Brazil's Amazon, do Carmo typically retrieves water untreated from the biome's abundant waterways. The drought has affected most of the main rivers in the Amazon, the world’s largest basin, which accounts for 20% of the planet’s fresh water.

Persons: Raimundo Silva, Carmo, ” Joaquim Mendes da Silva, ”, Edvaldo de Lira, Ana Paula Cunha, Marcus Suassuna Santos, Brazil’s, Ane Alencar, Alencar, Luiz Inácio Lula da Silva’s, Geraldo Alckmin, Ayan Fleischmann, Fleischmann, Flávia Costa, Fabiano Maisonnave, Eléonore Hughes, Diane Jeantet Organizations: Associated Press, Geological Survey, Amazon Environmental Research Institute, Bolsa, Sustainable Development Institute, National Institute for Space Research, National Institute of, AP Locations: MANAUS, Brazil, Brazil's, Puraquequara, Amazonas state's, Manaus, “, CEMADEN, Amazonas, Parana, Lake Puraquequara, Equatorial, Rio Grande do Sul, Madeira, Bolivia, Porto Velho, Santo Antonio, Negro, Bolsa Familia, Solimoes, Madeira —, Lake Tefe, rocketed, Brasilia, Rio de Janeiro

Ruckel had to make a choice: Lower the price on Amazon or ask Chewy to raise the price of his product. The company also invests in tools to help sellers offer “competitive prices,” he said. Scott Needham, who sells on Amazon and runs a product-finder tool for other Amazon sellers, said he was “surprised by some of the points that the FTC selected.”watch now“I have over the years been very critical of Amazon,” Needham told CNBC. Competitors like Shopify and Walmart are increasingly viable alternatives for many categories of sellers, Needham said, not to mention rapidly growing Chinese e=commerce companies like Temu. Among those is a greater ability for Amazon sellers to communicate with buyers, offering select customers certain promotions.

Persons: Watchara, Fred Ruckel, Ruckel, Chewy, Fred Ruckel's, that’s, David Zapolsky, ”, ” Zapolsky, “, ” “, I'm, commenter, Scott Needham, ” Needham, “ I’ve, Needham, I’m, ” Scott Moller, Moller, ” Moller, ecommerce, he’s, Molson Hart, Hart Organizations: MediaNews, Riverside Press, Enterprise, Getty, Amazon, CNBC, Federal Trade Commission, FTC, Walmart Locations: Eastvale , California, Amazon’s

The famous line etched Al Michaels, the commentator for the historic moment, into sporting folklore. Over an extensive broadcasting career, Michaels became of one of the premiere voices in US sports, covering 11 Super Bowls, eight World Series, three Stanley Cup Finals, two NBA Finals and nine Olympics. He spent 20 years fronting ABC’s Monday Night Football broadcast, becoming known for his partnership with Hall of Fame coach and broadcaster John Madden. Subsequently, Michaels has become the lead commentator for Amazon’s coverage of Thursday Night Football to remain the voice of many big-time NFL highlights. I feel very lucky.”Michaels is seen on the sidelines before a Thursday Night Football game between the Seattle Seahawks and the San Francisco 49ers on December 15, 2022.

Persons: Soviet Union –, Al Michaels, “, ” Michaels, Michaels, CNN’s Chris Wallace, I’m, Steve Fenn, ’ ” Michael, Vin Scully, Hall, John Madden, “ John, Madden, John, Cris Collinsworth, he’s, Jerry Rice, Michael Jordan, Kobe Bryant, Wayne Gretzky – Michaels, there’s, I’ve, ”, “ Somebody, ’ I’ve, Marcio Jose Sanchez, He’s, ‘, –, Chris Wallace, Max Organizations: CNN, Soviet, NBA, Ebbets, Major League Baseball, Brooklyn Dodgers, Sweden, ABC, Getty, Ebbets Field, ”, Arizona State University, Los Angeles Lakers, Hawaii Islanders, Chicago White Sox, Cincinnati Reds, Football, Hall of Fame, Sunday, Cincinnati Bengals, NFL, NBC, Seattle Seahawks, San Francisco 49ers, Fame Locations: Soviet Union, Brooklyn, Lake Placid, Los Angeles

☆ Amazon launches first internet satellites in bid to compete with SpaceX
▼ + stars: | 2023-10-06 | by ( Jackie Wattles | ) edition.cnn.com time to read: +8 min

Already, SpaceX has more than 4,500 active Starlink satellites in orbit and offers commercial and residential service to most of the Americas, Europe and Australia. The Atlas V rocket carrying Amazon's prototype satellites for Project Kuiper lifted off from Space Launch Complex-41 at Cape Canaveral Space Force Station, Florida. SpaceX has had the clear advantage of using its own Falcon 9 rockets to launch batches of Starlink satellites to orbit. For now, Kuiper satellites are launching on rockets built by United Launch Alliance, a close partner of Blue Origin. In addition to ULA and Blue Origin, Amazon has a Project Kuiper launch contract with European launch provider Arianespace.

Persons: “ We’ve, ”, Rajeev Badyal, Starlink, Kuiper, Elon Musk, “ I’m, Gregory Falco, Brecke Boyd, SpaceX’s, hasn’t, Jeff Bezos Organizations: CNN, Amazon, SpaceX, United Launch Alliance, Kuiper’s, United, Alliance, Atlas V, Cape Canaveral Space Force, United Nations, Cornell University, Federal Communications Commission, National Science Foundation, Wall Street, European Locations: Cape Canaveral , Florida, Americas, Europe, Australia, Florida, Russia, Ukraine, Starlink, ULA

As a result, books like “Call Me Max” have been challenged or outright removed from schools and libraries in Florida, as well as other states — and though some believe book bans lead to more book sales, authors say the effect of those bans is devastating for their careers. These bans “overwhelmingly” target books about race and racism, as well as books with LGBTQ characters, PEN America said in its September study on school book bans. The MoveOn Banned Book Mobile stops for an event with local authors and teachers on October 1, 2023 in Decatur, Georgia. “(A book ban) would make news, and people would say, ‘I’ll buy this book just to show them,’” Lukoff said of the once-common result of book bans. Lukoff said his first high-profile bans occurred in early 2021, in Austin and Salt Lake City, when book bans first started to accelerate.

Persons: CNN —, Ron DeSantis, Max, ”, ‘, ” DeSantis, Max ”, Kyle Lukoff, Newbery, “ I’ve, —, ” Lukoff, “, ” Kyle Lukoff's, Marvin Joseph, Phil Bildner, ” “, Bildner, PEN America, Tasslyn Magnusson, Read, Derek White, Magnusson, ” Laurie Halse Anderson’s, George M, Deborah Caldwell, Stone, Angie Thomas, “ Maus, “ Maus ”, ” Magnusson, Lukoff, BookScan, Juno, Mike Curato’s “, John Green’s “, Samira Ahmed, Laura Gluckman, Armando L, Sanchez, Maus, ’ ” Lukoff, … that’s, they’re, she’s, haven’t, “ It’s, isn’t, Ahmed, ” Bildner, Caldwell, J.K, Rowling, Harper Lee, Art Spiegelman, ‘ Maus, ’ ”, Torrey Maldonado, ” Maldonado, who’ve, Eileen T, ’ ” Magnusson, ’, ” Ahmed, it’s, “ I’m, I’m, Maldonado, They’re Organizations: CNN, Florida Gov, Washington Post, PEN America, Liberty, Utah Parents United, Mobile, American, Association’s, Intellectual, ”, Association of American Publishers, Women, Chicago Tribune, Getty, America Locations: Florida, bookshelves, Rye, PEN, Utah, Decatur , Georgia, Tennessee, Alaska, Chicago, Sandmeyer's, Austin, Salt Lake City

☆ US labor board says Amazon breached terms of 2021 labor rights settlement
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

Security personnel are seen as Amazon workers gather outside Amazon’s LDJ5 sortation center, as employees begin voting to unionize a second warehouse in the Staten Island borough of New York City, U.S. April 25, 2022. REUTERS/Brendan McDermid/File photo Acquire Licensing RightsCompanies Amazon.com Inc FollowSept 29 (Reuters) - Amazon.com (AMZN.O) was accused by officials of violating the terms of a U.S. labor board settlement, breaching a 2021 agreement which required the online retailer to let workers unionize. Last year, workers at an Amazon warehouse in New York City voted to form the first union at the company. "We've fully complied with the settlement agreement, which we voluntarily entered into in December 2021. Separately, the Teamsters union on Friday picketed outside two Amazon warehouses in Los Angeles.

Persons: unionize, Brendan McDermid, We've, Samrhitha, Shounak Dasgupta Organizations: REUTERS, National Labor Relations, Amazon, Teamsters, Thomson Locations: Staten Island, New York City, U.S, New York, Los Angeles, Bengaluru

☆ Five takeaways from the FTC's 172-page antitrust lawsuit against Amazon
▼ + stars: | 2023-09-28 | by ( Brian Fung | ) edition.cnn.com time to read: +10 min

Washington CNN —An antitrust lawsuit from 17 states and the Federal Trade Commission this week against Amazon represents the US government’s biggest regulatory challenge yet against the e-commerce juggernaut. The landmark case targets Amazon’s retail platform, alleging that it’s harmed shoppers and sellers alike on a massive scale. Here are five of the biggest highlights and takeaways from the plaintiffs’ 172-page lawsuit. Just this month, the FTC added three Amazon officials to a separate consumer protection case dealing with Amazon Prime. Instead, the plaintiffs have to show that Amazon is part of a well-defined geographic and economic market that it dominates.

Persons: Lina Khan, Amazon, David Zapolsky, ” Khan, Khan, Douglas Farrar, ” Farrar, superstores, ” What’s, Jeff Bezos, “, ” Organizations: Washington CNN, Federal Trade Commission, Amazon, US, Walmart, Target, eBay, Amazon Music, Bloomberg News, CNN, Amazon Prime, FTC Locations: Seattle, United States

☆ Amazon’s Own Track Record Undercuts the FTC’s Case
▼ + stars: | 2023-09-27 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Amazon has a poor man’s monopoly
▼ + stars: | 2023-09-27 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

The $1.3 trillion retailer run by Andy Jassy was sued on Tuesday by the U.S. Federal Trade Commission for alleged anticompetitive practices. She rose to prominence after publishing a paper in the Yale Law Journal in 2017 titled “Amazon’s Antitrust Paradox,” which painted the e-commerce giant as a sprawling monopoly that has gone unchecked by traditional antitrust policing. But Chinese competitors like Shein and Temu, which have different cost structures, are starting to encroach on Amazon’s market. It's possible that Khan and the FTC can nail Amazon in court for behaviors that in the past have given it an exclusive edge. Follow @thereallsl on XCONTEXT NEWSThe U.S. Federal Trade Commission filed an antitrust lawsuit against Amazon.com on Tuesday, asking the court to consider forcing the online retailer to sell assets.

Persons: Andy Jassy, Lina Khan, EBITDA, Walmart’s, hasn’t, Khan, Jonathan Guilford, Sharon Lam Organizations: Reuters, U.S . Federal Trade Commission, Yale Law, Investors, Walmart, Foods, Amazon.com, Alphabet's Google, Thomson Locations: Arkansas, It’s

☆ Trump’s Michigan trip, a Black Sea commander mystery and Amazon’s antitrust fight
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

A New York judge finds Donald Trump and his adult sons liable for fraud. The ruling comes ahead of the former president’s trip to Detroit to woo striking autoworkers. A fire at a wedding hall in Iraq kills more than 100 people. Plus, we look at why the federal trade commission is suing Amazon and how investors are preparing for a possible U.S. shutdown. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices.

Persons: Donald Trump, Reading Donald Trump Organizations: Apple, Google, Reuters, Amazon, Thomson, Reading Locations: York, Detroit, Ukraine, Iraq, New York, Nagorno, Karabakh

☆ For Amazon’s Andy Jassy, a Cleanup Job Just Got a Lot Bigger
▼ + stars: | 2023-09-26 | by ( Karen Weise | More About Karen Weise | ) www.nytimes.com time to read: +1 min

In the two years since Andy Jassy replaced Jeff Bezos as Amazon’s chief executive, he has been cleaning up after his company’s aggressive pandemic expansion and after Mr. Bezos. Mr. Jassy has reined in Amazon’s voracious warehouse growth, culled from the company’s sprawl of products and laid off thousands of employees on several of Mr. Bezos’ pet projects. The suit focused on parts of the business that took off before Mr. Jassy gained control over the retail division. The redacted complaint mentions Mr. Bezos 16 times, and Mr. Jassy only twice. Mr. Jassy joins other big tech chief executives who have taken control of enormous businesses from idiosyncratic founders at difficult moments.

Persons: Andy Jassy, Jeff Bezos, Bezos, Jassy, ”, Sucharita Kodali Organizations: Federal Trade Commission, Amazon, Street, Forrester Research Locations: Washington

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