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Amazon adds new Business Prime benefits, including a credit card

“Amazon on Tuesday rolled out new benefits for its Amazon Business Prime members, including access to a new credit card offered jointly with American Express. The AmazonBusiness American Express Card, for US customers, has no annual fee, and it offers businesses 5 percent back or 90-day interest-free payment terms on eligible purchases. The card could help Amazon reach more […]
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Companies

Does Amazon Lose on Retail? Numbers Say No

“A recent article from The Information detailing Amazon’s current retail profits calls into question an assertion occasionally made about Amazon’s retail operations. It is sometimes argued that Amazon (as well as other large tech firms) operates some parts of their business at a loss, particularly during growth phases. The article outlines that Amazon’s U.S. retail operations do not, in […]
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Companies

Secret Amazon brands are quietly taking over Amazon.com

“Amazon’s private label business is booming, on pace to generate $7.5 billion this year and $25 billion by 2022, according to estimates from investment firm SunTrust Robinson Humphrey. To accelerate that growth, the company is inviting manufacturers to create products exclusively for its collection of private brands.”
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Companies

New York City’s first Amazon Go cashierless store will open near the World Trade Center

“Amazon’s version of a futuristic 7-Eleven store is coming to New York City, and it’s going to be located inside a shopping and office complex across from the World Trade Center, Recode has learned. Amazon plans to unveil the cashierless convenience store inside Brookfield Place, formerly known as the World Financial Center, in Manhattan’s Battery Park City neighborhood.”
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Companies

Jeff Bezos and Jamie Dimon: Best of Frenemies

“The fortunes of the two companies have become more entwined over the years. They are closely connected through a credit-card deal struck when the retailer was still mostly selling books and CDs on the internet. JPMorgan is in talks to partner with Amazon on a number of financial ventures, and the bank lends to the […]
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Companies

Instacart, Whole Foods Part Ways

“Instacart said Thursday that it would cease deliveries from 76 Whole Foods locations on Feb 10. The San Francisco-based company said around 240 employees would be laid off as a result. Most of the 1,415 Instacart employees that pick up orders from Whole Foods stores will be transferred to other divisions, founder and chief executive, […]
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Companies

Amazon Web Services Brought in More Money Than McDonald’s in 2018

“To put that in context, Amazon’s cloud-computing business in 2018 took in a bit less than all of Mondelez International, the multinational snack and beverage conglomerate, which reported $25.9 billion in revenue for the year ended Dec. 31. It is barely less than the $25.8 billion in revenue Macy’s generated in all of 2017 (Macy’s […]