Amazon share price tanks after software giant announces fall in cloud spend April 28, 2023 The brakes appeared to be coming on to Amazon’s cloud growth spending as the tech giant said it was looking to cut costs. The news overshadowed the company’s quarterly sales, and an announcement that its profits that topped expectations. Amazon’s value rose $125bn (£100bn) but remarks by its chief financial officer Brian Olsavsky, drove the [...]
Ocado share price soars over 40 per cent following Amazon takeover rumours June 22, 2023 Shares in Ocado soared over 40 per cent this morning following speculation that Amazon is eyeing a takeover of its grocery technology business. The tech giant is reportedly mulling an £8-a-share move, The Times has reported, with Goldman Sachs and JP Morgan said to be acting for the potential bidders. “Bid chatter helped lift web-based [...]
Amazon Prime and Netflix brace for cancellations as Brits look to trim spending January 30, 2023 More Brits are planning to unsubscribe from video streaming services this year, after new data revealed the number paid-for subscriptions in the UK fell by two million last year as rising costs continue to eat into household budgets. Data analytics group Kantar revealed today that the number video streaming subscriptions in the UK fell from [...]
DS Smith: Inflation can’t keep profits boxed up for Amazon cardboard provider June 22, 2023 DS Smith reported soaring profits and trading in line with expectations in its full year results this morning, as the package specialist continued to show strong resistance to high inflation and rising paper costs. The London-listed group – which delivers boxes and paper products to companies including Amazon and Brewdog – saw pre-tax profits up [...]
Amazon Prime, Spotify set to be worst hit by Brits cancelling subscriptions January 4, 2023 British households are cancelling online subscriptions as the cost of living soars, with Amazon Prime and Spotify among the most-searched subscriptions to be cancelled, according to a new study. According to a new study by VPN Online, Brits are increasingly cancelling their streaming subscriptions to save money amid sky-high inflation. In 2022, the average Brit [...]
Amazon: More than 500 workers to walk out mid April in pay dispute March 31, 2023 Amazon workers are to stage fresh strikes in an escalation of a dispute over pay. The GMB union said more than 500 of its members at the online giant’s site in Coventry will walk out for three days from April 16 and again from April 21-23. The six days of action follow a series of [...]
Explainer-in-brief: Amazon chases the robotic revolution in the retail space November 14, 2022 Amazon wants 100 per cent of its packaging to be managed by robots in the next five years. The retail giant is not far from this target, given three quarters of the packages it delivers have been – at least partially – wrapped up by a robot. Employees have been reassured that “the need for [...]
Amazon to slash 10,000 corporate and tech jobs – reports November 14, 2022 E-commerce behemoth Amazon is mulling laying off around 10,000 people, it has been reported, amid a torrid slew of tech lay-offs last week. According to a report in The New York Times, redundancies for corporate and technology roles could begin as early as this week, people with knowledge of the matter said. This would mark [...]
Amazon to sack 9,000 more workers as mass tech job cuts continue March 20, 2023 Amazon is slashing another 9,000 employee job roles worldwide as the tech giant steams ahead with further cost-cutting measures. The firm made staff aware of the job cuts in a note by chief Andy Jassy, who said workers in the Amazon Web Services, human resources, advertising and Twitch units would be most impacted by the [...]
The torrid week for tech continues as Amazon sheds £175bn October 28, 2022 The torrid week for tech continued last night, with Amazon leaving investors bewildered and Apple somehow defying the trend of its Silicon Valley cousins. Amazon shares tumbled as much as 18 per cent on Thursday night, wiping $202bn (£175bn) off its valuation. The major sell-off came after the e-commerce giant warned against weaker consumer spending [...]