Amazon news and archive

'Magnificent Seven' results: Why AI capex could disrupt fashion

This week, markets will scrutinise the results of tech leaders Amazon, Microsoft, Alphabet, Meta, Apple, Nvidia and Tesla. At the core of expectations is the need for proof. Their massive investments in artificial intelligence must finally begin to show tangible returns. Critical equation: billions versus uncertain revenues Hyperscalers have...

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California AG: Amazon forced Levi’s, Hanes to raise prices

California Attorney General Rob Bonta has released a series of unredacted court documents detailing how US e-commerce giant Amazon allegedly pressured fashion and lifestyle brands to inflate prices across the retail market. The filings, part of an ongoing antitrust lawsuit in the San Francisco Superior Court, implicate major industry names such...

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Amazon announces construction of a new distribution centre in France, one of Europe's largest

Amazon announced on Tuesday the construction of a distribution centre in the Haut-Rhin region in France. It will be one of the largest in Europe, representing an investment of over 250 million euros and creating 2,000 jobs. The building, located in the municipality of Ensisheim, will have a floor area of approximately 60,000 square metres and a...

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Italian prosecutors seek trial for Amazon over tax evasion

Milan prosecutors have requested a criminal trial for Amazon and four of its executives over alleged tax fraud worth more than one billion euros, Italian media reported Thursday. The e-commerce giant in December said it had reached an agreement with Italy's tax agency over VAT it should have paid on behalf of third-party sellers. Amazon did not...

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US judge bans AI bot from shopping on Amazon

A US federal judge has temporarily banned Perplexity AI from using its Comet browser for purchases on Amazon. Comet is an AI agent that independently performs tasks on the web at the user's request, including logging into secure Amazon Prime accounts and completing the transaction. Amazon sued the company for computer fraud. The lawsuit does not...

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OpenAI raises 110 billion dollars in record funding round

OpenAI announced Friday a massive $110 billion funding round valuing the ChatGPT maker at $730 billion, with SoftBank, Nvidia and Amazon each making multi-billion-dollar commitments as the artificial intelligence company races to meet surging global demand. The investment round - one of the largest in Silicon Valley history - includes $30...

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US Congress reconsiders de minimis rule for low-value parcels

While the US administration officially ended the customs exemption for low-value parcels at the end of 2025, the de minimis issue has abruptly resurfaced in Washington. The cause is a new bill introduced in the House of Representatives. It seeks to partially reintroduce specific treatment for small imported shipments. This is a strong signal in...

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Amazon plans to invest 200 billion dollars in AI and chips

Amazon is surpassing even its high-spending tech rivals with its planned investments. The retail giant plans to invest around 200 billion dollars this year in AI, chips, robotics and satellites. The figure was difficult for investors to digest. The company's shares fell by more than ten percent in after-hours trading. According to Amazon's chief...

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Saks Global unsecured creditors form committee

In a new phase of Saks Global's Chapter 11 bankruptcy proceedings, the US Trustee's Office has formed an Official Committee of Unsecured Creditors, giving the retail group's partners a voice in the process. A total of 10 members were appointed to the committee last week, including major fashion houses such as Chanel, LVMH, Kering and Ermenegildo...

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Saks reportedly ends e-commerce partnership with Amazon

Following its bankruptcy filing, Saks Global is believed to be ending its relationship with Amazon, and is set to wind down its storefront on the marketplace giant. According to sources for Reuters, the decision to bring the ‘Saks on Amazon’ concept to a halt comes as the luxury retail group looks to focus on parts of the business where there is...

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Amazon confirms reports, announcing 16,000 layoffs amidst AI & efficiency restructuring plan

Amazon has announced that it will be making 16,000 roles redundant across its global company,confirming media reports that had been circulating since last Friday. The announcement marks the second major round of layoffs made by the tech and e-commerce giant over the past four months, in line with Amazon’s broader aim to streamline its operations...

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Amazon to reduce global workforce by 16,000 roles

E-commerce giant Amazon is cutting 16,000 jobs worldwide. The company has not yet specified which roles will be affected as it concentrates its efforts on artificial intelligence. “The reductions we are implementing today will impact approximately 16,000 roles across Amazon, and we are working (...) to support everyone whose position is...