A federal labor board on Monday will count ballots cast by warehouse workers in a second Amazon union election on Staten Island. The National Labor Relations Board is overseeing the election and expects to finish tallying the votes by Monday evening. A separate election held last month gave a nascent group of organizers known as…
Amazon Shares Plunge in Biggest Drop Since 2006 After Posting $3.8 Billion Loss
Shares of Amazon.com Inc. fell 14.05 percent on Friday in its steepest one-day drop since 2006, leaving the widely held stock near two-year lows. Late on Thursday, the e-commerce giant delivered a disappointing quarter and outlook, swamped by higher costs. Amazon lost $3.8 billion in the first quarter of 2022, largely due to a slump in…
Amazon Posts First Net Loss in 7 Years; Airbnb Staff Can Live and Work Anywhere: CEO | NTD Business
Amazon reports disappointing earnings, posting its first quarterly net loss in seven years. Profits soaring at energy giants Chevron and ExxonMobil as oil prices surge. We ask an oil expert, are oil companies price gouging? Home-sharing platform Airbnb launches a huge incentive for its employees. Fried chicken woes in South Korea. What are they going to…
Australian Consumer Watchdog Concerned Over Product Ranking Algorithms
April 29, 2022
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Australia’s consumer watchdog has started to scrutinise product rankings on online marketplaces such as Amazon, eBay and Kogan for potential unfair competition practices. After imposing tens of millions of dollars in penalties on hotel booking site Trivago and ride-sharing and food delivery mobile app Uber for misleading customers, the Australian Competition and Consumer Commission (ACCC)…
Amazon Declines to Describe Search-Algorithm Data: Australian Regulator
SYDNEY—Amazon.com Inc. has declined to describe its product-search system to an Australian competition regulator that has heard complaints of large marketplace platforms giving preference to in-house wares. The company’s withholding of the information sets the scene for a possible repeat of Australia’s 2021 showdown with Facebook Inc. and Alphabet Inc.’s Google, which resulted in those…
Amazon Reports $3.8 Billion Loss in Q1 as Warehouse, Fuel Costs Soar
Amazon.com Inc. delivered a disappointing quarter and outlook on Thursday as the e-commerce giant was swamped by higher costs to run its warehouses and deliver packages to customers. Shares fell 9 percent in after-hours trade. After a long-running surge in sales during the COVID-19 pandemic, Amazon is facing a litany of challenges. The company’s expenses…
U.S. Sends Hazard Alert Letter to Amazon After 2021 Fatal Warehouse Collapse
WASHINGTON—The U.S. Occupational Safety and Health Administration issued a hazard alert letter to Amazon.com Inc on Tuesday after six contractors were fatally injured and another was severely injured when a tornado struck Amazon’s Edwardsville, Illinois, warehouse in December 2021. OSHA did not issue any violations or citations after the warehouse collapse following the Category 3…
Capitol Report (April 22): D.C. On Edge After Shooting in Broad Daylight
April 22, 2022
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Rep. Marjorie Taylor Greene (R-Ga.) is testifying in court. When asked if Joe Biden lost the presidential election, she said, “Well, yes.” As pandemic-related restrictions continue to be rolled back, the aftermath of lockdowns is starting to show. We take a look at some of the collateral damage and speak to psychiatrist Carole Lieberman to…
Amazon Fires Up Rivalry With FedEx, UPS With Latest Launch
Amazon.com Inc. launched Buy with Prime, allowing third-party merchants to use Amazon’s vast shipping and logistics network to fulfill orders on their sites while appealing to Amazon’s Prime customers. Experts see the move firing up rivalry with United Parcel Service Inc., FedEx Corp., and the U.S. Postal Service as being the fastest in the online delivery race, CNBC reports. The…
Here’s Why Citi Added Amazon to Focus List
Citi analyst Ronald Josey assumed coverage of Amazon.com Inc. with a Buy rating and price target of $4,100, down from $4,115 (29.7 percent upside). Josey also added the shares to the firm’s Focus List, given its lead eCommerce, Online Advertising, and Cloud and operational efficiencies at its new Fulfillment Centers, physical retail location closures, and the lapping of COVID-related…
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