Amazon’s Jeff Bezos to start $2 billion charitable fund
SEATTLE (AP) — Amazon founder and CEO Jeff Bezos said Thursday that he is giving $2 billion to start a fund that will open preschools in low-income neighborhoods and give money to nonprofits that helps homeless families.
Bezos, whose stake in Amazon is worth about $160 billion, says that he'll call it the Bezos Day One Fund. An Amazon.com Inc. spokeswoman confirmed that the money will all come from Bezos, though there are few details about how the fund will operate.
Amazon removes Nazi-themed items after complaints
Amazon says it has removed items with Nazi or white supremacist symbols from its website after criticism from advocacy groups.
An Amazon executive said the company blocked the accounts of some retailers and might suspend them.
Amazon: 2Q Earnings Snapshot
SEATTLE (AP) — Amazon.com Inc. reported second-quarter profit Thursday of $2.53 billion.
On a per-share basis, the Seattle-based company said it had profit of $5.07.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.49 per share.
The online retailer posted revenue of $52.89 billion in the period, falling short of Street forecasts. Fourteen analysts surveyed by Zacks expected $53.45 billion.
NEW YORK (AP) — Amazon wants you to deliver its packages for them.
The online retailer launched a new program this week that helps people in the United States start their own businesses delivering Amazon packages. The move gives Amazon another way to ship its packages to shoppers besides relying on UPS, FedEx and other package delivery services.
Buy tires on Amazon, install them at Sears
NEW YORK (AP) — Shoppers will be able to buy any brand of tires on Amazon.com, have them shipped to a Sears Auto Center and then bring in their car to get them installed.
It's the latest deal between Sears and Amazon as the struggling department store operator seeks to boost sales. Last year, Amazon began selling Sears's Kenmore brand of ovens, washers and other appliances.
If you thought Jeff Bezos’s ambition of delivering packages via drones was ambitious, now he’s really outdone himself. Amazon.com Inc. is promising to entertain bored children with a device that spits out knock-knock jokes on demand. It’ll teach them good manners, too.
The world’s biggest online retailer will release new kid-focused skills for its Alexa digital assistant on May 9, along with an $80 Echo Dot voice-controlled speaker designed for children.
Ten years ago, Amazon introduced the Kindle and established the appeal of reading on a digital device. Four years ago, Jeff Bezos and company rolled out the Echo, prompting millions of people to start talking to a computer.
Now Amazon.com Inc. is working on another big bet: robots for the home.
Amazon.com Inc. cut ties with Washington's biggest lobbying firm and brought on new advisers following passage of the tax overhaul bill last year and in the face of new challenges in the age of President Donald Trump.
Amazon.com Inc. has looked at the possibility of expanding its retail footprint by acquiring some locations from bankrupt Toys "R" Us Inc., according to people with knowledge of the situation.
The online giant isn't interested in maintaining the Toys "R" Us brand, but has considered using the soon-to-be-vacant spaces for its own purposes, said the people, who asked not to be identified because the talks are private.
U.S. companies from Walmart Inc. to Amazon.com Inc. are warning President Donald Trump that any sweeping trade action against China could raise consumer prices, increase costs for businesses and hurt stock prices.
Amazon.com Inc. is planning to offer a credit card to U.S. small-business customers, furthering its push to supply companies with everything from reams of paper to factory parts, according to people with knowledge of the matter.
Jeff Bezos changed the way America shops. Now, he wants to change how it pays for things.
With a foray into financial services, Amazon.com Inc. could disrupt the decades-old card payments system, a move that some say could save the retailer $250 million a year in swipe fees. That could be bad news for the likes of Visa Inc. and Mastercard Inc., as well as a host of other players.
Amazon to lay off ‘small’ number of people in Seattle
NEW YORK (AP) — After a ramp-up of hiring last year, Amazon says it will cut a "small" number of positions at its Seattle headquarters.
The future of driverless driving looks like a giant toaster with a funny hat.
That's an approximation of a new autonomous vehicle unveiled Tuesday by Nuro, a Silicon Valley startup that's been cryptic about its business plan since it launched about 18 months ago. Nuro's shiny, minimalist appliance on wheels doesn't have doors or windows to speak of, because it will be carrying packages, not people.
A year after Dow 20,000, stocks keep setting records
The Dow Jones industrial average busted through the 20,000 point mark a year ago Thursday, and the century-old index has continued to set records since then, going faster and farther than most experts expected.
The Dow is made up of just 30 stocks that are considered icons of U.S. industry. Many have put up big gains over the last year, but a handful of them have contributed more than half of the 6,000 points the Dow has added in the last year.
Get your stuff and go: Amazon opens store with no cashiers
SEATTLE (AP) — No cashiers, no registers and no cash — this is how Amazon sees the future of store shopping.
The online retailer opened its Amazon Go concept to the public Monday in Seattle, which lets shoppers take milk, potato chips or ready-to-eat salads off its shelves and just walk out. Amazon's technology charges customers after they leave.
"It's such a weird experience, because you feel like you're stealing when you go out the door," said Lisa Doyle, who visited the shop Monday.
Overstock.com Inc. gained as much as 5.3 percent in early trading on speculation that supermarket giant Kroger Co. might acquire the e-commerce company.
The New York Post reported on Friday that the grocery chain may be eyeing a deal with Overstock, citing unidentified sources. Overstock Chief Executive Officer Patrick Byrne said in December that selling the e-commerce business to a brick-and-mortar retailer was a possibility. He aims to refocus on the burgeoning field of blockchain technology.
- The Detroit NewsSupreme Court rejects UPS on Postal Service delivery pricesMay 20, 2019
- The Detroit NewsAmazon pledges one-day delivery for top clients in USApril 26, 2019
- The Detroit NewsAmazon workers are listening to what you tell AlexaApril 12, 2019
- The Detroit NewsWalmart is beating Amazon in a business worth $35BApril 1, 2019
- The Detroit NewsAmazon to open dozens of grocery stores, WSJ reportsMarch 2, 2019
Detroit's "comeback" narrative apparently doesn't play in Seattle, home to Amazon.com Inc.
The giant online retailer's decision to exclude the Motor City from 20 finalists for its second North American headquarters, confirmed Thursday, landed with a thud amid the very week Detroit is celebrating the revival of its hometown automakers' place in a tech-driven global industry.
Austin, Dallas make Amazon’s top 20 list for its second headquarters
NEW YORK — Amazon has narrowed its hunt for a second headquarters to 20 locations, concentrated among cities in the U.S. East and Midwest. Toronto made the list as well, keeping the company’s international options open.
The online retailer said Thursday that after sorting through 238 proposals, the potential locations still include tech-strong places like Boston and New York. Other contenders include Chicago, Indianapolis, and Columbus, Ohio, in the Midwest.
The good news for U.S. retailers is that the just-ended Christmas shopping season was probably the best one in a decade. The bad news? Some chains are still struggling to benefit from the industry's upswing.
Amazon.com Inc.’s shake-up of the retail landscape may not be over, according to one well-known technology analyst.
The internet giant will acquire discounter Target Corp., Loup Venture co-founder Gene Munster wrote in a report highlighting eight predictions for the technology industry in 2018. Amazon made waves in retailing last year with its $13.7 billion purchase of upscale grocer Whole Foods Market Inc.
Target aims to boost same-day delivery by acquiring Shipt
NEW YORK (AP) — Target plans to boost its same-day delivery capability by paying $550 million for Shipt, its latest move to try to catch up with Amazon.
Retailers’ goal of challenging Amazon hindered by labor woes
Brick-and-mortar retailers hoping to fend off Amazon.com Inc. need to deploy the one weapon that could set them apart: top-notch customer service, provided by actual humans.
But making that goal a reality relies on something they’ve not really invested in -- well-trained employees with the kinds of wages and regular hours that make them want to stick around.
While people fret about robots taking human jobs, machines in Japan are stepping in to fill vacancies amid the worst labor shortage in more than 40 years. That's creating an opportunity for up-and-coming startups focused on automating warehouse tasks.
Amazon, Walmart shift attention to procrastinators
Cyber Monday sales reached $6.59 billion, fueled by deals on toys, video-game consoles and televisions, making it the biggest U.S. online spending day ever.
E-commerce spending increased 17 percent on Monday, capping the biggest five-day period of the holiday shopping season that began on Thanksgiving, Adobe Systems Inc. reported.
Amazon goes into the holidays with magnified store presence
NEW YORK (AP) — Amazon goes into the holiday season with a newly magnified brick-and-mortar presence, giving it more opportunities to sell its Kindle e-readers, Fire tablets and other gadgets.
The pharmacy market is one of the biggest potential new targets for Amazon.com Inc.
In June, the online retail giant moved into the roughly $800 billion U.S. grocery space by buying Whole Foods Market Inc. Drugs, a $450 billion industry in the U.S., are likewise most often sold from brick-and-mortar stores.
Amazon.com Inc. launched a Prime membership service for businesses, looking to replicate in the workplace the quick delivery of online orders that made it a go-to shopping destination for households.
Amazon.com Inc. is aiming to post more promotional and instructional videos on its website to hawk pet supplies, baby products, housewares and electronics, a move to keep people from clicking on Google's YouTube and Facebook Inc.'s social-media sites to find video reviews before buying.
Choices: Amazon says it got 238 entries for 2nd headquarters
NEW YORK (AP) — Amazon will be sorting through 238 proposals from cities and regions in the United States, Canada and Mexico that are hoping to land the company's second headquarters and the investment it'll bring.
Amazon.com Inc. put Roy Price, the head of its film and TV unit, on a leave of absence after a producer told the Hollywood Reporter he sexually harassed her, days after a series of similar accusations led to the ouster of Harvey Weinstein as head of the production company he co-founded.
Buyer’s remorse be gone, Walmart puts returns in fast lane
NEW YORK (AP) — Online sales have divided retailers into two camps: the quick and the dead.
To that end, Walmart is altering its policies to speed returns, even it means that nothing is returned at all in some cases.
Starting next month through Walmart's app, customers will be able to scan goods they no longer want with their own smartphone and drop it off at a customer service desk.
Walmart armors up for food fight with Amazon
Walmart's Jet.com will launch a higher-end grocery line targeting millennials, just over a year after Walmart spent more than $3 billion for the fast-growing online retailer amid more intense competition from Amazon.
Amazon signs deal to boost its restaurant delivery service
NEW YORK (AP) — Amazon wants to deliver more burritos and hamburgers to your doorstep.
Amazon reviewing its site after bomb-making materials report
NEW YORK (AP) — Amazon says it is reviewing its website after a British TV report said that the online retailer recommended purchasing ingredients together that could make a bomb.
Channel 4 News in London said that when it tried to buy certain chemicals on Amazon, the website's "frequently bought together" section suggested products that could help build a bomb.
A week after Amazon sent cities North America-wide scrambling to compete for the e-commerce giant’s second headquarters, Philadelphia government leaders are beginning to settle on three locations to pitch most forcefully as the nucleus of a vast regional presence for the Seattle company: The Schuylkill Yards and uCity Square sites in West Philadelphia and South Philadelphia’s Navy Yard.
Best Buy tumbles after CEO warns that good times may not last
Best Buy Co. suffered its worst stock decline in more than a year after Chief Executive Officer Hubert Joly warned that recent sales gains probably aren’t sustainable, renewing concerns that Amazon.com Inc. will threaten its business.
Can’t wait for delivery? Amazon offers instant pickup
NEW YORK (AP) — Need some chips fast? Amazon has you covered.
The Seattle-based company launched a service Tuesday that lets Prime members in five cities pick up things like snacks, cold drinks or phone chargers within two minutes of ordering them online. Customers need to head over to an Amazon location to collect their order.
Amazon to sell debt in order to pay for Whole Foods deal
NEW YORK (AP) — Amazon says it is selling debt in order to pay for its $13.7 billion deal to buy organic grocer Whole Foods.
Amazon.com Inc. did not say how much money it plans to raise when it sells the senior unsecured notes, but credit ratings agency Moody's said Tuesday that the company is raising up to $16 billion.