Latest Amazon.com Inc News

Penguin Random House CEO Markus Dohle is stepping down

Dec. 09, 2022 15:38 PM EST

NEW YORK (AP) — The CEO of Penguin Random House, the world's largest trade publisher, is stepping down. Markus Dohle's decision, effective at the end of the year, comes just weeks after a federal judge blocked the company's attempt to buy rival Simon & Schuster. “Following...

Pentagon splits $9 billion cloud contract among 4 companies

Dec. 07, 2022 21:25 PM EST

WASHINGTON (AP) — Google, Oracle, Microsoft and Amazon will share in the Pentagon's $9 billion contract to build its cloud computing network, a year after accusations of politicization over the previously announced contract and a protracted legal battle resulted in the military starting over in...

Cyber Monday deals lure in consumers amid high inflation

Nov. 28, 2022 17:58 PM EST

NEW YORK (AP) — Days after flocking to stores on Black Friday, consumers are turning online for Cyber Monday to score more discounts on gifts and other items that have ballooned in price because of high inflation. Cyber Monday is expected to remain the year’s biggest online...

Shoppers hunt for deals but inflation makes bargains elusive

Nov. 23, 2022 10:54 AM EST

NEW YORK (AP) — Consumers holding out for big deals — and some much-needed relief from soaring costs on just about everything — may be disappointed as they head into the busiest shopping season of the year. While retailers are advertising sales of 30%, 50% and 70% off...

Amazon begins mass layoffs among its corporate workforce

Nov. 16, 2022 17:20 PM EST

NEW YORK (AP) — Amazon has begun mass layoffs in its corporate ranks, becoming the latest tech company to trim its workforce amid rising fears about the wider economic environment. On Tuesday, the company notified regional authorities in California that it would lay off about 260...

Amazon plans new virtual care offering based on messaging

Nov. 15, 2022 09:32 AM EST

Amazon is stepping back into virtual care with a new service that uses secure messaging to connect patients with doctors for help with nearly two dozen conditions. The retail giant said Tuesday it will launch “Amazon Clinic” in 32 states to provide medication refills and care for...

Asian shares mostly lower as Japan preps massive stimulus

Oct. 28, 2022 00:45 AM EDT

Shares were mostly lower in Asia on Friday after a mixed session on Wall Street, where tech sector losses offset gains in other parts of the market. Tokyo’s benchmark slipped as the government was preparing about $490 billion in stimulus spending to help the world’s No. 3...

Amazon posts weaker-than-expected 3Q revenue, stock tumbles

Oct. 27, 2022 20:53 PM EDT

NEW YORK (AP) — Amazon returned to profitability over the summer after two consecutive quarters of losses, but its stock fell sharply in after-hours trading due to weaker-than-expected revenue and disappointing projections for the current quarter. The company on Thursday reported...

Amazon shuts online store fabric.com in cost-cutting move

Oct. 20, 2022 20:36 PM EDT

NEW YORK (AP) — Amazon is shutting down a subsidiary that's been selling fabrics for nearly 30 years, the latest move by the online retail giant to cut costs. In a note posted on its website, fabric.com said it will no longer sell products and directed customers to shop on Amazon...

Small businesses brace for cautious holiday shoppers

Oct. 16, 2022 10:51 AM EDT

NEW YORK (AP) — Small businesses are stocking the shelves early this holiday season and waiting to see how many gifts inflation-weary shoppers feel like giving. Holiday shopping was relatively strong during the past two years as shoppers flocked online to spend, aided by pandemic...