Amazon

  • Amazon to continue investing in India amid feud with Reliance
    NEW DELHI, OCTOBER 30 (IANS): As the face-off between Mukesh Ambani-led Reliance Industries Ltd (RIL) and Amazon continues, the Jeff Bezos-run global e-commerce behemoth has said that it will continue to invest in India where the company has witnessed robust growth. In a conference call with analysts after announcing its Q3 2020 results, Brian Olsavsky, Senior Vice President and Chief Financial Officer at Amazon, said that the company's commitment to invest in India despite the
  • Amazon reports 37% growth in sales, expects bumper holiday season
    Seattle, October 30 (IANS): Ecommerce behemoth Amazon has reported better-than-expected Q3 results in the pandemic times when people tend to shop more online, as net sales increased 37 per cent to $96.1 billion in the third quarter, compared with $70 billion in the third quarter 2019. Amazon said that the sales in the fourth quarter will be between $112 billion and $121 billion – a healthy growth from a year earlier. Net income increased to $6.3 billion in the third quarter
  • Jeff Bezos vs Mukesh Ambani: Battle royale for India's retail crown
    NEW DELHI, OCTOBER 20 (IANS): The arbitration proceedings between Amazon and Kishore Biyani have begun in Singapore. Former Attorney General of Singapore, V.K. Rajah concluded arbitration hearing on Friday, October 16 and will deliver his ruling on or before Monday, October 26, sources said. Rajah, former Attorney General of Singapore, is the sole arbitrator in the Amazon vs. Future vs. Reliance arbitration matter. An emergency hearing of the arbitration took place in Singapor
  • Next pandemic? Amazon deforestation may spark new diseases
    The risks of a "spillover" of deadly pathogens into people is growing as deforestation and fires put animals on the move, researchers warn SAO PAULO, October 16 (Thomson Reuters Foundation) - As farms expand into the Amazon rainforest, felled trees and expanding pastures may open the way for new Brazilian exports beyond beef and soybeans, researchers say: pandemic diseases. Changes in the Amazon are driving displaced species of animals, from bats to monkeys to mosquitoe
  • Indigenous Amazon activist fights to save forest and tribe's future
    Swedish activist Greta Thunberg is an inspiration for Samela Sateré-Mawe, but more so are her roots in Amazon indigenous culture MANAUS, Brazil, October 10 (Reuters) - Samela Sateré-Mawé, a 24-year-old biology student, has one guiding belief - if the rainforest dies so will her Amazon tribe. "Indigenous people are an extension of nature, and nature is an extension of us," said the environmental activist, who joined Greta Thunberg's Fridays for F
  • Amazon takes on Future over deal with Reliance Retail
    New Delhi, October 8 (IANS): In a major turn of events in the buyout of the businesses of the debt laden Future Group by Reliance Retail, e-commerce giant Amazon.com, Inc has stepped in and said that Future Group violated a contract with it by entering into the sale agreement with the Mukesh Ambani-led retail major. "We have initiated steps to enforce our contractual rights. As the matter is sub judice, we can't provide details," an Amazon spokesperson said in an e-mai
  • Over 1 lakh kirana stores to take part in Amazon's festive sales
    BENGALURU, OCTOBER 4 (IANS): Over 1 lakh Amazon-enabled local shops, kirana and neighbourhood stores across India will serve customers in the upcoming festive season on the e-commerce platform. More than 20,000 offline retailers, kirana and local shops from "Local Shops on Amazon" programme will participate in the "Great Indian Festival" sales for the first time. "The programme is seeing remarkable response from retailers from across India and has scaled
  • Amazon introduces new way to make people pay with their palm
    SAN FRANCISCO, SEPTEMBER 29 (IANS): Amazon on Tuesday introduced a contactless way for people to use their palm to make everyday activities like paying at a store, presenting a loyalty card, or entering a location like a stadium. Called, Amazon One, the service uses custom-built algorithms and hardware to create a person's unique palm signature. "We'll start in select Amazon Go stores, where Amazon One will be added to the store's entry gate as a convenient choic
  • Amazon Prime Day to take place October 13-14
    SAN FRANCISCO, SEPTEMBER 28 (IANS): Amazon has announced that it will hold its much-awaited annual sale event Prime Day on October 13-14, putting an end to uncertainties surrounding the event amid the Covid-19 pandemic. This year's event will feature "incredible savings and deep discounts" on more than one million deals across every category, Amazon said on Sunday. Last year, the sales holiday was conducted in mid-July, but the pandemic this year disrupted its sched
  • Online grocery to become $18bn industry in India by 2024: Report
    BENGALURU, SEPTEMBER 25 (IANS): As companies from Reliance to Amazon put their top dollar in serving daily grocery at your doorstep, a new report said on Friday that online grocery is going to be the next battleground for growth, expanding to over $18 billion by 2024. According to a joint report by a joint initiative by Bengaluru-based market consulting firm RedSeer and Bigbasket (Brand Intelligence), driven by the significant rise in organic adoption during Covid-19, eGrocery has b
  • Amazon sold some items at inflated rate during Covid-19: Report
    San Francisco, September 12 (IANS): Amazon sold several items including essentials such as toilet paper and hand sanitiser at inflated rate during the Covid-19 pandemic, said a report by US-based consumer rights group Public Citizen. Amazon set prices of products during the pandemic to levels that would be considered violations of price gouging laws in many states of the country, showed the findings of the report released this week. Numerous examples of price increases were found
  • Amazon orders 1800 EVs from Mercedes-Benz in green effort
    Seattle, August 29 (IANS): In its bid to address the climate change, Amazon has added more than 1,800 electric vehicles from Mercedes-Benz Vans to its delivery fleet in Europe this year. Mercedes-Benz also announced on Friday it has joined The Climate Pledge, which calls on new signatories to be net zero carbon across their businesses by 2040 — a decade ahead of the Paris Agreement goal of 2050. "We welcome the bold leadership demonstrated by Mercedes-Benz by signing u
  • Mukesh Ambani in talks to buy several retail ecommerce firms
    NEW DELHI, AUGUST 18 (IANS): Mukesh Ambani is looking to expand his retail footprint by acquiring several ecommerce players. This is being seen as a precursor to the ongoing battle with Amazon for India's hot ecommerce retail market. Mukesh Ambani's Reliance Industries Ltd. (RIL) is in discussions to acquire or buy stakes in furniture outlet, Urban Ladder, lingerie brand, Zivame, and online pharma store, Netmeds. As per reports, Reliance could pay as much as $160 milli
  • Germany launches new antitrust probe into Amazon: Report
    London, August 17 (IANS): Germany's competition watchdog has begun a fresh investigation into whether the ecommerce giant Amazon is abusing its dominant market position in the country. In an interview with the German media outlet Frankfurter Allgemeine Zeitung (FAZ), the President of the Federal Cartel Office, Andreas Mundt, said the country is probing Amazon's relationship with the third-party sellers on its website. "Amazon must not be a price controller. We are in
  • 209 SMB sellers became crorepatis in 48 hours in India: Amazon
    Bengaluru, August 10 (IANS): Amazon India on Monday said that over 91,000 small and medium-sized businesses participated in the two-day Prime Day sales which saw 209 SMB sellers becoming crorepatis in 48 hours. Of the over 91,000 SMBs who participated at Prime Day that started at midnight on August 6, more than 62,000 sellers were from non-metro and tier-2 and tier-3 cities across India, the company said. Amazon said that 31,000 SMB sellers witnessed their highest sales ever with
  • Amazon aims to hire 'many more' people in India
    SAN FRANCISCO, JULY 31 (IANS): Amazon is planning to get more sellers on board as the company focuses on digitising a lot of micro, small and medium-sized businesses in India and hiring many more people, a top company executive has said. During an earnings call with investors on Thursday, David Fildes, Director-Investor Relations at Amazon said that the company was putting a lot of focus on the India market. His comments came on the heels of the company's announcement last we
  • AWS hits $43bn annual run rate biz, Google Cloud reaches $3bn in Q2
    New Delhi, July 31 (IANS): Amazon Web Services (AWS), the Cloud arm of retail behemoth Amazon, has become a $43 billion annualized run rate business, up nearly $10 billion in run rate in the last 12 months. According to Brian Olsavsky, Chief Financial Officer at Amazon, the companies are realising that their on-premise infrastructure is not really flexible to go up or down. "Especially in the time of sinking demand, it's a big fixed cost for them. So we're seeing mig
  • Amazon plans to create 'thousands of job opportunities' in India
    NEW DELHI, JULY 24 (IANS): Amazon is looking forward to creating thousands of job opportunities in India as the e-commerce giant plans to make 10 new warehouses operational in the country ahead of the festive season. With the new additions, Amazon.in will have more than 60 warehouses, or fulfillment centres, in 15 states, with a total storage capacity of over 32 million cubic feet, the company said in a blog post on Thursday. "With the expanded network of more than 60 fulf
  • Amazon starts selling car, bike insurance in India
    New Delhi, July 24 (IANS): Amazon Pay, the payments arm of the e-commerce giant's India unit, has partnered with Acko General Insurance Ltd. to offer two and four-wheeler insurance policies in the country. Customers can visit the Amazon Pay page or search on the Amazon mobile app or the mobile website to buy car and bike insurance in a few easy steps, Amazon said in a blog post on Thursday. "Our vision is to make Amazon Pay the most, trusted, convenient and rewarding way
  • Ecuador's Amazon tribes turn to tech to track COVID-19 cases
    BOGOTA, July 22 (Thomson Reuters Foundation): Ecuador's indigenous groups in the Amazon have launched an information dashboard to monitor the coronavirus and identify contagion hotspots as the disease spreads through the rainforest and threatens ancient cultures, a leading rights group said on Tuesday. The dashboard, a collection of charts that aggregates coronavirus data, shows COVID-19 infection and death rates and suspected and recovered cases by area and tribe since ear