Amazon.com on Thursday posted the biggest profit in its 26-year history as online sales and its lucrative business supporting third-party merchants surged during the coronavirus pandemic.
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Google and Facebook took particularly sharp jabs for alleged abuse of their market power from politicians on Wednesday in a much-anticipated hearing that put four of the US’s most prominent tech CEOs in the hot seat.
The Covid-19 pandemic has accelerated the adoption of e-commerce in a way no company could have imagined. Investors will find no shortage of newly energised investment opportunities. By Gerrit Smit.
Chief executives from four of the biggest US technology companies will face a moment of reckoning on Wednesday in an extraordinary joint appearance before lawmakers.
The biggest US technology companies have gone on a buying spree this year, waving off intense scrutiny from competition watchdogs and critics who say they’ve bolstered their power by snatching up nascent rivals.
Microsoft president Brad Smith raised concerns to US lawmakers about what the company regards as Apple’s anticompetitive behavior around its app store, according to a person familiar with the matter.
Having long lagged behind much of the world in terms of e-commerce, South African retailers have been doing a roaring trade online as consumers shy away from shops during the Covid-19 pandemic.
Halfway through 2020, the Nasdaq 100 Index is not only back in positive territory, but is headed for a year that ranks with its best of the last two decades.
Intel’s investment arm will pay some $255-million for a small stake in Reliance Industries’ digital unit Jio Platforms, the latest in a slew of share sales that have helped the Indian conglomerate pay down debt.
Amazon.com has agreed to pay over $1-billion to buy self-driving start-up Zoox, according to a report. It would would expand its reach in autonomous vehicle technology.