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Companies

Amazon’s New Multistory Warehouse Aims to Cut Delivery Times

“Amazon.com Inc. has agreed to take space in a first-of-its-kind three-story warehouse, a new type of distribution center that could reduce delivery times in congested cities to hours rather than days. While common in densely-populated Asian and European cities, modern warehouses with multiple floors have been absent until recently in the U.S., where higher land and […]

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Companies

Amazon Hit by Extensive Fraud With Hackers Siphoning Merchant Funds

“Amazon.com Inc. said it was hit by an “extensive” fraud, revealing that unidentified hackers were able to siphon funds from merchant accounts over six months last year.    Amazon believes it was the victim of a “serious” online attack by hackers who broke into about 100 seller accounts and funneled cash from loans or sales […]
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Companies

Bezos Says Third-party Amazon Sellers Are “Kicking Our Butt”

“t’s not often you see a CEO so sanguine about an ass whooping. “Something strange and remarkable has happened over the last 20 years,” Amazon’s Jeff Bezos said in his annual letter to shareholders . “Third-party sales have grown from 3% of the total to 58%. To put it bluntly: Third-party sellers are kicking our […]
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Companies

How Amazon’s Shipping Empire Is Challenging UPS and FedEx

“Amazon.com Inc. recent breakup with longtime shipping partner FedEx Corp. shows how far the e-commerce giant has come in creating its own delivery network. Over the years, Amazon has played down its ambitions. But as consumers flock to its site for everything from toilet paper to TVs, Amazon has quietly blanketed the nation with hundreds of […]
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