Tag: Amazon

Jeff Bezos announces plans to give away his wealth as charity
15Nov By adminNo Comments
Technology

Jeff Bezos announces plans to give away his wealth as charity

[ad_1] According to Variety, in an interview with CNN, the billionaire said he plans to donate the majority of his wealth to charitable causes within his lifetime. Amazon founder Jeff Bezos, who is among the richest people in the world, has revealed what he ultimately plans to do with his fortune of billions of dollars.According to Variety, in an interview with CNN, the billionaire said he plans to donate the majority of his wealth to charitable causes within his lifetime. With an estimated net worth of USD 124.1 billion, Bezos is the fourth richest person in the world, as per Forbes. During the CNN interview with Chloe Melas on Monday, Bezos divulged that most of his donations will go toward fighting climate change and to people who can unify humanity in the face of deep social and p...
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Amazon Becomes World’s First Public Company to Lose $1 Trillion in Market Value
10Nov By adminNo Comments
Technology

Amazon Becomes World’s First Public Company to Lose $1 Trillion in Market Value

[ad_1] Amazon.com Inc. is the world’s first public company to lose a trillion dollars in market value. Amazon.com Inc. is the world's first public company to lose a trillion dollars in market value as a combination of rising inflation, tightening monetary policies and disappointing earnings updates triggered a historic selloff in the stock this year. Shares in the e-commerce and cloud company fell 4.3% on Wednesday, pushing its market value to about $879 billion from a record close at $1.88 trillion on July 2021. Amazon and Microsoft Corp. were neck-and-neck in the race to breach the unwelcome milestone, with the Windows software maker close behind after having lost $889 billion from a November 2021 peak. While technology and growth stocks have been punished throughout the year, ...
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Apple and Amazon Conspired to Raise iPhone Prices? Check Shocking Claim
10Nov By adminNo Comments
Technology

Apple and Amazon Conspired to Raise iPhone Prices? Check Shocking Claim

[ad_1] Apple Inc. and Amazon.com Inc. were accused in a lawsuit of striking an unlawful deal to drive up prices for iPhones and iPads by wiping out hundreds of third-party sellers. Apple Inc. and Amazon.com Inc. were accused in a lawsuit of striking an unlawful deal to drive up prices for iPhones and iPads by wiping out hundreds of third-party sellers who often offered steep discounts. Consumer Steven Floyd says an “Unlawful Boycott Agreement” between Apple and Amazon forced him to pay $319.99 for an iPad when he should have been able to get a discount in a “normal competitive market,” according to the proposed class-action complaint filed in Seattle federal court. The suit comes as Amazon is facing antitrust scrutiny from states and regulators over policies involving third-party...
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Jeff Bezos’s Blue Origin Expects Launch in 2023 After Rocket Mishap Review
10Nov By adminNo Comments
Technology

Jeff Bezos’s Blue Origin Expects Launch in 2023 After Rocket Mishap Review

[ad_1] Blue Origin LLC, the space launch vehicle startup founded by Amazon.com Inc. chair Jeff Bezos, expects next month to complete a review . Blue Origin LLC, the space launch vehicle startup founded by Amazon.com Inc. chair Jeff Bezos, expects next month to complete a review of a recent accident but won't send another rocket aloft until sometime in 2023. The company's vice president of its New Shepard rocket's mission and fight operations, Audrey Powers, told attendees Wednesday at a conference in Washington, D.C., that the technical assessment of the September mishap will be finished in December, and that it wouldn't fly again until next year, a Blue Origin spokesperson confirmed in an emailed statement. Powers' comments were tweeted earlier by a Washington Post journalist. T...
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Microsoft’s Cloud Sparks Complaint to EU by Amazon-Linked Group
9Nov By adminNo Comments
Technology

Microsoft’s Cloud Sparks Complaint to EU by Amazon-Linked Group

[ad_1] A collection of Microsoft Corp.’s rivals including OVH and Amazon.com Inc.’s AWS fired off an antitrust complaint. A collection of Microsoft Corp.'s rivals including OVH and Amazon.com Inc.'s AWS fired off an antitrust complaint to European Union watchdogs alleging the software giant uses unfair licensing practices to lure customers in the region to its cloud infrastructure.CISPE, a European cloud-company policy group, said it's calling for a probe into Microsoft's business model before some companies are shut out of the market, causing “material harm to customers.” It's the fourth current complaint targeting Microsoft at the Brussels-based European Commission. Bowing to months of pressure from rival cloud providers, Microsoft earlier this year announced changes to its software...
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From Amazon’s Freeze to Lyft’s Layoffs, Tech Firms Brace for Tough Times
4Nov By adminNo Comments
Technology

From Amazon’s Freeze to Lyft’s Layoffs, Tech Firms Brace for Tough Times

[ad_1] Tech companies are once again tapping the brakes on hiring as they contend with sluggish consumer spending, higher interest rates and the impact of a strong dollar overseas. Tech companies are once again tapping the brakes on hiring as they contend with sluggish consumer spending, higher interest rates and the impact of a strong dollar overseas. Amazon.com Inc. said Thursday that it would pause adding new corporate workers, citing an “uncertain” economy and its hiring boom in recent years. Lyft Inc., the ride-hailing company, is going further: It will eliminate 13% of staff, or around 683 people. Twitter Inc.'s cutbacks are under particular scrutiny as new owner Elon Musk shakes up the social-networking business and pares roughly half its jobs. Tech companies made moves ...
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Fed’s Slowdown Isn’t Getting Much Help From Big Tech
31Oct By adminNo Comments
Technology

Fed’s Slowdown Isn’t Getting Much Help From Big Tech

[ad_1] Companies are shielding their workforces from efforts to cool inflation, squeezing profit with the hope of a faster recovery later. All the tightening moves by the Federal Reserve this year to rein in inflation are supposed to lead to less hiring and spending by companies. But there is no law that says the biggest, most profitable companies have to cut back if they don't feel like it. And the cuts showing up in this quarter's earnings reports from the biggest tech companies amount to going from three scoops of ice cream to two.If you're wondering why employment growth has been robust despite the warning signs in financial markets, the structural change in Silicon Valley that's happened since the early 2000s dot-com bust is a big part of it. The employment numbers this quarter f...
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Apple Is the Only Big Tech Consolation in Wild $477 Bn Rout
29Oct By adminNo Comments
Technology

Apple Is the Only Big Tech Consolation in Wild $477 Bn Rout

[ad_1] In a week that has seen hundreds of billions in market value wiped out at the biggest technology firms, Apple is bucking the trend. In a week that has seen hundreds of billions in market value wiped out at the biggest technology firms, Apple Inc. is bucking the trend with another set of resilient results. Apple jumped 7.6% on Friday and added more than $150 billion in market value after the iPhone maker's revenue and profit both topped analysts' estimates. In contrast, fellow megacaps Microsoft Corp., Alphabet Inc., Amazon.com Inc. and Meta Platforms Inc. saw their shares tumble after reporting results this week, shedding $477 billion in combined market value in the trading session immediately after the results. Apple's slight beat on revenue in the fourth quarter at a tim...
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Amazon, Microsoft, and Alphabet’s Dirty Supply Chains Undercut Climate Promises From HQ
28Oct By adminNo Comments
Technology

Amazon, Microsoft, and Alphabet’s Dirty Supply Chains Undercut Climate Promises From HQ

[ad_1] Suppliers for major brands like Amazon, Microsoft, and Alphabet are still relying heavily on fossil fuels, Greenpeace finds. Amazon.com Inc., Microsoft Corp. and Alphabet Inc. have pledged to run their own operations on 100% clean power. But their suppliers — the lesser known companies that make the key components of hit products like the Kindle, the Xbox or Pixel mobiles — remain deeply reliant on fossil fuels. Twelve of the 14 top suppliers get on average 5.4% of their energy from renewable sources or don't disclose, data from a Greenpeace report released Friday showed. Their major clients, including HP Inc., Dell Technologies Inc., Lenovo Group, Sony Group Corp., LG Electronics Inc. and Samsung Electronics Co. share the blame, the organization said: Of 10 consumer electro...
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Apple earnings rise as economic gloom hits tech
28Oct By adminNo Comments
Technology

Apple earnings rise as economic gloom hits tech

[ad_1] Apple Inc on Thursday reported revenue and profit that topped Wall Street targets. Apple Inc on Thursday reported revenue and profit that topped Wall Street targets, one of the few bright spots in a tech sector battered by spending cutbacks due to inflation. The forecast for the holiday quarter was more grim. While not providing specific numbers, Apple said revenue growth would fall below 8% in the December quarter but did not go as far as Amazon. com, whose dire holiday outlook sent its shares down 14%. Apple shares initially dipped in after-hours trading but recovered in positive territory. The Cupertino, California-based tech giant was saved by its oldest technology, its laptop computers, while its star, the iPhone, stumbled. Although iPhone sales were not as strong as som...
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