Darren Jones: Keir Starmer moves rising star to Labour’s shadow treasury team September 4, 2023 Labour MP Darren Jones has been appointed shadow chief secretary to the treasury, in Sir Keir Starmer’s reshuffle of his top team. Jones made headlines and viral TikToks as he clashed with Royal Mail, Amazon and P&O bosses in his role as business and trade select committee (BTC) chairman. He will now serve alongside shadow [...]
It took Big Tech firms just six days to pay off $2bn in fines, new data shows August 30, 2023 Big Tech firms paid over $2bn (£1.6bn) in fines this year. But new data shows it took them just over six days to pay them off.
It’s not me, it’s you: Jassy warns Amazon staff it might not work out if they’re working from home too much August 29, 2023 Amazon chief executive Andy Jassy told workers “it’s probably not going to work out for [them]” if they don’t accept the company’s three-days-in-the-office mandate. “It’s past the time to disagree and commit,” Jassy reportedly said in a meeting last week, referred to internally as a ‘fishbowl’. “And if you can’t disagree and commit, I also [...]
Amazon rolling out generative AI feature targetting product reviews August 14, 2023 Amazon is rolling out a new generative AI feature that summarises product reviews for customers. The feature, which the company began testing earlier this year, is designed to help shoppers determine at a glance what other customers have said about a product before they spend time reading through individual reviews. It will pick out common themes [...]
Amazon eyes anchor investor role ahead of Arm IPO August 9, 2023 Amazon is reportedly in discussions to become an anchor investor in Arm as the chip designer gears up to go public. The technology giant is joining the likes of Alphabet, which owns google, and semiconductor companies Nvidia and Intel in the queue to become a major investor in Cambridge-based Arm, according to Reuters. Arm plays [...]
Amazon forecasts bright third quarter on resilient cloud sales and shopping trends August 4, 2023 Amazon reported sales growth and profit that beat expectations as the company delivered goods faster and more cheaply to shoppers while recent cloud-computing headwinds began to subside. Amazon’s Wall Street shares surged nine per cent on the news, extending its stock market value more than $120 billion in after-hours trading. On the FTSE 100 index, [...]
Big tech look ahead: Alphabet, Microsoft, Meta and Amazon shares in focus July 23, 2023 THE RACE to exploit the potential of artificial intelligence will dominate investor chatter around big tech this week, with all the big players set to release results to Wall Street.
Investor Terry Smith ditches Amazon stake over concerns with grocery business July 11, 2023 Top investor Terry Smith has revealed that he ditched his fund’s stake in Amazon due to concerns with the company’s grocery business. In a letter to investors, released yesterday, Smith revealed that the primary catalyst behind Fundsmith’s decision to drop its holding in Amazon last month was due to a “concern over potential capital misallocation”. [...]
Amazon launches legal action against ‘fake review brokers’ June 29, 2023 Amazon has filed four lawsuits against online fake review companies in an attempt to hold them to account for illicit behaviour that deceives consumers. The global tech company has challenged Reddit Marketing Pro, Mangocity, Littlesmm and Nice Discount with legal action this week. Amazon claims these ‘fake review brokers’ are trying to “mislead Amazon customers [...]
Whole Foods: Inflation takes bite out of Amazon owned grocery store June 25, 2023 The Amazon-owned UK division of Whole Foods has seen a rapid decline in earnings for the year as soaring inflation makes Brits hesitant to fork out on its pricey goods. Whole Foods UK reported operating losses of £26.9m up from £17.2m the prior year and its sales also fell to £91.6m down from £94.3m. Amazon [...]