The lockdown forced by the coronavirus continues to be a driving force for Amazon, which saw its profit triple from a year ago. Those profits are expected to continue even as the company spends billions of dollars dealing with COVID-19. Net income for the third quarter rose to $6.3 billion, or $12.37 a share, from …
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The US Department of Justice on Tuesday filed a landmark lawsuit against Google that accuses the tech giant of illegally holding monopolies in search and search advertising, the culmination of a more than yearlong investigation into alleged anticompetitive practices at the company, and the first such antitrust case in the tech world in decades. The federal government alleges that Google …
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Facebook CEO Mark Zuckerberg, Twitter CEO Jack Dorsey and Google CEO Sundar Pichai will testify before Congress on Oct. 28. The US Senate’s Commerce committee had voted unanimously to subpoena the appearances of Zuckerberg, Pichai and Dorsey, but the CEOs agreed to appear without being subpoenaed, according to The Washington Post. The hearing will be called “Does Section 230’s Sweeping Immunity Enable Big Tech …
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Amazon customers looking for a greener online shopping experience now have an easier way to identify more ecologically sustainable products. On Wednesday, Amazon announced the rollout of its new “Climate Pledge Friendly” label, which will highlight items that have been certified by a wide range of partners as sustainable products. The online retailer also created a dedicated storefront for the …
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A report from CNN on Thursday has raised concerns about the safety of Amazon’s line of Basics products. Speaking with customers after seeing hundreds of reviews online, CNN reported that items from the AmazonBasics line, including toasters, microwaves and charging cables, have been catching fire or even exploding. One customer told CNN that a house fire started when a USB …
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Jeff Wilke, head of Amazon’s consumer business, plans to retire in the first quarter of 2021 and will be replaced by Dave Clark, senior vice president of worldwide operations. The announcement came in a securities filing on Friday morning and from memos sent out from CEO Jeff Bezos and Wilke to employees. “I don’t have a new job, and am as …
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Facebook CEO Mark Zuckerberg has reportedly testified at a Federal Trade Commission antitrust hearing this week. His virtual testimony went for two days, according to a Politico report Thursday. “We are committed to cooperating with the US Federal Trade Commission’s inquiry and answering the questions the Agency may have,” a Facebook company spokesperson told CNET in an emailed statement. The news …
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Epic Games put the billions of dollars it’s raked in from its hit Fortnite video game to some use, provoking Apple and Google to kick its title from their respective platforms, then blitzing them with a pair of lawsuits and an online video mocking the two tech giants. And in doing so, Epic drew the tech world’s attention to antitrust …
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Amazon appears to be facing even more antitrust troubles. New York Attorney General Letitia James is joining the investigations into Amazon’s market power, according to Bloomberg. The publication said Monday that James’ office is partnering with California’s attorney general and the Federal Trade Commission on their investigations into the e-commerce giant. The news comes after Amazon CEO and founder Jeff …
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After Amazon warned of turbulent times ahead during the coronavirus and CEO Jeff Bezos downplayed the company’s leadership position before Congress on Wednesday, Amazon went ahead and posted massive gains in the second quarter. The company on Thursday reported a profit of $5.2 billion, or $10.30 per share — an all-time record — and double last year’s total. That record …
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