The US Federal Trade Commission is investigating whether Amazon.com Inc. and Alphabet Inc. 's Google misled advertisers that place ads on their websites, according to people familiar with the matter.
Amazon.com Inc. ( NASDAQ: AMZN) has been one of the stock market's biggest success stories ever. The company had its initial public offering in May 1997 and traded for an astonishingly low split-adjusted price of just seven cents per share. Since then, the stock has gained over 306,500% as the company has grown into the linchpin of e-commerce. Since its inception, Amazon has become a mainstay in the Magnificent 7 and now commands the five-largest market cap of any publicly traded company.
The superstar musician is the most-streamed artist in the world. She is the first to win album of the year at the Grammy Awards four times. Her Eras Tour generated more than $2 billion in ticket sales. And she has a net worth of $1.6 billion. She also has something valuable in common with Amazon, the Jeff Bezos-founded ecommerce giant that boasts a $2.5 trillion market capitalization.
In other company news, the firm announced in July that it deployed its 1 millionth robot while also deploying its new AI foundation model to power its robotic fleet. The robotics cycle is "early," according to Bank of America's analyst, who expects Amazon to leverage robots to reduce labor dependency, increase order accuracy and improve warehouse efficiency, driving material cost savings.
On Friday, a proposed class action was filed in Washington federal court against Amazon over a "bait and switch" in which the company allegedly misleads consumers into believing they've purchased content when they're only getting a license to watch, which can be revoked at any time....Lisa Reingold, who filed the lawsuit, says she bought Bella and the Bulldogs - Volume 4 on Amazon in May for $20.79 but soon lost access to the title.
While TVs might not be the first thing that comes to mind when you think about Labor Day sales, retailers like and are offering steep discounts on brands like LG, Samsung, Hisense, and more. You can save up to 50% on premium-grade OLED models, cinema-sized 100-inch screens, and even ultra budget-friendly options from Insignia and TCL. I review TVs for ZDNET.
Amazon is preparing to launch a new tablet that could run on Android instead of its custom FireOS software, according to a report from Reuters. Multiple sources tell the outlet that Amazon plans to release the "higher-end" Android tablet as early as next year. Amazon currently powers its Fire tablets using a forked version of Android, forcing developers to create apps compatible with FireOS and distribute them on the Amazon App Store. The company's upcoming tablet could soon change this, potentially giving users access to a wider variety of Android features and apps.
Amazon is developing a super-center shopping experience that combines groceries and general merchandise, targeting consumers who currently shop at multiple retailers for their needs.
A Texas Amazon courier jumped from his van, delivering parcels immediately after a collision with a sleeping, unlicensed driver. Concerned neighbors rushed to help him.
Amazon is taking significant steps to strengthen its position in the AI sector by increasing investments in Anthropic to integrate Claude Opus 4 AI into its platforms. This strategy aims to enhance AWS and retail experiences, marking Amazon as a formidable competitor in the AI landscape, competing directly with major players like Microsoft and Google.