Amazon
Jeff Bezos sells nearly 12 million Amazon shares worth at least $2 billion, with more to come
Jeff Bezos filed a statement with federal regulators indicating his sale of nearly 12 million shares of Amazon stock worth more than $2 billion.
The Amazon executive chairman notified the U.S. Securities and Exchange Commission of the sale of 11,997,698 shares of common stock on Feb. 7 and Feb. 8.
The collective value of the shares of Amazon, which is based in Seattle where he founded the company in a garage about three decades ago, was more than $2.04 billion, according to the listed price totals.
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The stocks were grouped in five blocks between 1 million and more than 3.2 million.
In a separate SEC filing, Bezos listed the proposed sale of 50 million Amazon shares around Feb. 7 with an estimated market value of $8.4 billion.
Bezos stepped down as Amazon's CEO in 2021 to spend more time on his other projects, including the rocket company, Blue Origin, and his philanthropy. His address on the stock filings is listed as Seattle, although he reportedly has relocated to Miami.
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Probably not going to work out for Amazon employees who defy return-to-office policy, CEO says
Amazon employees have been pushing back against the company’s return-to-office policy for months — and it seems CEO Andy Jassy has had enough.
During a pre-recorded internal Q&A session earlier this month, Jassy told employees it was “past the time to disagree and commit” with the policy, which requires corporate employees to be in the office three days a week.
The phrase “disagree and commit” is one of Amazon’s leadership principles, and was used often by the company’s founder and current executive chairman, Jeff Bezos.
Brazil's Amazon Summit ends with a plan to protect the world's rainforests, but no measurable goals
“If you can’t disagree and commit, it’s probably not going work out for you at Amazon,” Jassy said, adding it wasn’t right for some employees to be in the office three days a week while others refuse to do so.
His comments were first reported by Business Insider, and later shared by Amazon.
The current office attendance mandate, which was announced in February and went into effect in May, is a shift from Amazon’s previous policy that allowed leaders to determine how their teams worked. But the company said Tuesday it rejects the notion that the prior policy was supposed to be the norm, and pointed to a blog post from 2021 where Jassy noted Amazon would “continue to adjust” things as more information rolled in.
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When announcing the updated policy earlier this year, Jassy wrote in a memo to staff that Amazon made its decision after observing what worked during the pandemic and talking to leaders at other companies. He said the company’s senior executives, known internally as the S-team, concluded employees tended to be more engaged in person and collaborate more easily.
But many workers haven’t been convinced. In May, hundreds of Amazon employees protested the new policy during a lunchtime demonstration at the company’s Seattle headquarters. At the time, an internal Slack channel that advocated for remote work had racked up 33,000 members.
Some employees have also been pushing the company to supply data that support Jassy’s claims. During the session, Jassy said the company's leadership looked at the data it has available and among other things, he said they didn’t feel that meetings were as effective from home as they were before. He added there are a lot of scenarios where the company has made some of its biggest decisions without perfect data, pointing to examples like Amazon’s decision to pursue an online marketplace for sellers and AWS, its cloud computing unit.
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In July, Amazon also rolled out a policy that requires some workers in smaller offices to move to main offices located in bigger cities, according to multiple media reports.
Amazon employs 1.4 million people worldwide but does not indicate how many of those work in office settings, as opposed to working at its warehouses and other sites.
How to Make Money with Amazon Kindle Publishing: A Step by Step Guide
Amazon Kindle Direct Publishing (KDP) is a self-publishing platform by Amazon that allows authors to share their books with a global audience.This program allows self-publishing of eBooks, including control over pricing and royalties. KDP enables writers to connect with readers and gain valuable insights into book performance. Whether one is a seasoned author or a newcomer to publishing, KDP offers an accessible and empowering way to share one’s work with the world. Here is a step-by-step process to make money from Amazon Kindle Publishing.
What is Amazon Kindle Direct Publishing (KDP)?
Amazon Kindle Direct Publishing (KDP) is a self-publishing platform offered by Amazon that allows authors and content creators to publish their books and reach a vast audience worldwide. Through KDP, authors can publish both eBooks and print-on-demand paperbacks, making it a convenient and accessible platform for aspiring writers and established authors alike.
How does Amazon Kindle Direct Publishing work?
Step 1: Creating an Amazon KDP Account with a Definitive Payment Method
The first step to getting started with KDP is to create an account on the platform. This involves providing necessary details such as your name, email address, and payment information. When creating an Amazon KDP (Kindle Direct Publishing) account, you will need to provide some payment information for royalty payments. Here are the details you may need to provide:
Bank Account Information:
You must specify the bank account where Amazon can deposit your royalties. This includes details such as the account holder's name, account number, and the bank's routing number.
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Address and Tax Information:
Amazon KDP requires you to provide your tax information, such as your mailing address and tax identification number (TIN). For the inhabitants of USA, Social Security Number (SSN) will be required.
Payment Method:
Apart from bank account information, Amazon KDP may offer other payment options depending on your location and the payment methods supported in your country. Common alternatives include Payoneer, PayPal, and checks.
Currency:
You may also need to specify your preferred currency for receiving royalty payments. Amazon supports payments in various currencies, and you can choose the one that suits you best.
Step 2: Preparing Your Manuscript
Before publishing, it's essential to format your manuscript correctly to ensure a seamless reading experience for your audience. KDP supports various formats, such as Word, PDF, and ePub, so authors have flexibility in preparing their content.
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Step 3: Designing a Book Cover
An eye-catching book cover plays a crucial role in attracting readers. KDP offers design tools and templates to help authors create professional book covers without the need for advanced graphic design skills.
Step 4: Setting the Price and Royalty Options
Authors have control over pricing their books and can select royalty options that best suit their publishing goals. KDP offers two royalty options: 35% and 70%, with the latter requiring the book to meet certain pricing criteria.
Step 5: Publishing Your Book
Once the manuscript is ready and the book cover is designed, authors can upload their work to the KDP platform and make it available for sale on Amazon.
What are the Steps Involved in Creating a Kindle Direct Publishing Book?
Write and Edit Your Manuscript
Creating an engaging book begins with the art of writing. Let your creativity flow as you put pen to paper or type away on your keyboard. Whether it's fiction, non-fiction, or poetry, ensure that your content is well-structured and compelling. Once you've completed your first draft, it's time to polish it. Editing is an essential step in refining your work. Make your manuscript shine by paying attention to grammar, spelling, and sentence structure.
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Choose the Right Book Title
The title of your book is like a window into its soul. It should intrigue potential readers and give them a glimpse of what awaits within the pages. Brainstorm different titles that resonate with your story or subject matter. Keep it simple yet powerful, and make sure it aligns with the genre and tone of your book.
Create an Eye-Catching Book Cover
"Don't judge a book by its cover" may be a popular saying, but the reality is that readers often do. Your book cover is the first thing that grabs a reader's attention, so invest time in designing a visually appealing and professional cover. If you lack design skills, don't worry; plenty of talented graphic designers can bring your vision to life.
Format Your Manuscript for KDP
Proper formatting ensures a seamless reading experience for your audience. Amazon KDP has specific guidelines for formatting, so familiarize yourself with them. Attention to font choice, paragraph spacing, chapter headings, and page numbering. A well-formatted book shows readers that you care about quality.
Set the Book Description
The book description serves as your book's sales pitch. It should be persuasive and enticing, leaving readers eager to explore your book further. Use engaging language to convey the essence of your story or the value of your non-fiction content. Don't give away all the details; leave some intrigue to pique curiosity.
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Select Appropriate Keywords
Keywords are like signposts that lead readers to your book. Research relevant keywords that match your book's content and genre. Incorporate these keywords in your title, subtitle, and book description to improve discoverability.
Choose Categories and Keywords
Properly categorizing your book on Amazon is vital for reaching the right audience. Select the categories that align with your book's content and theme. Accurate categorization helps your book show up in relevant search results, increasing its visibility.
Set the Book Price
Determining the right price for your book requires consideration of various factors. Take into account the length of your book, its genre, and your target audience. Pricing too high may deter potential readers, while pricing too low might undervalue your work.
Enroll in KDP Select (Optional)
KDP Select is a program that offers certain promotional benefits but also requires exclusivity with Amazon for a limited period. Decide if enrolling in this program aligns with your marketing strategy and goals.
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Upload Your Book to KDP
With your manuscript, cover, and details ready, it's time to upload your book to the KDP platform. Follow the step-by-step process, carefully inputting the required information. Double-check for accuracy to avoid any potential issues later.
Preview Your Book
Before hitting that publish button, take advantage of Amazon's preview tool. This tool allows you to see how your book will appear on different devices. Check for formatting errors and make any necessary adjustments to ensure a professional presentation.
Publish Your Book
Once you are confident that your book is ready for the world, it's time to publish. Click that "Publish Your Kindle eBook" button, and your book will become available for purchase on Amazon.
Promote Your Book
Publishing your book is just the beginning. To attract readers and build a loyal audience, you need to promote your book. Utilize social media platforms, reach out to book bloggers and reviewers, organize virtual book tours, and consider running Amazon ads to boost visibility.
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What are the benefits of using Kindle Direct Publishing?
Global Reach and Distribution:
Through KDP, authors can tap into Amazon's extensive global marketplace, reaching readers in various countries and regions.
Control and Flexibility:
Authors retain full control over their publishing journey, from pricing to promotional strategies. They can update their books and make changes as needed.
Royalties and Earnings:
KDP offers competitive royalty rates, allowing authors to earn up to 70% of the list price for each sale, depending on the pricing and distribution options chosen.
Publishing Speed:
With KDP, authors can publish their books rapidly, making their content available to readers within hours of uploading.
Data and Analytics:
KDP provides valuable insights into sales data, allowing authors to track book performance and make data-driven decisions.
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How Much Can You Earn from Amazon Kindle Direct Publishing?
KDP provides a fixed royalty rate of 60% for paperbacks sold on Amazon marketplaces, where they support paperback distribution. This means you will earn 60% of the list price as your royalty. However, your actual earnings are determined by deducting the printing costs from this royalty amount. The printing costs are influenced by various factors such as the trim size, page count, ink type, and the specific Amazon marketplace where your paperback is ordered. You can find more details on calculating printing costs in the provided link.
To illustrate this with an example: Let's say your book's list price is $15, and it is a 333-page regular trim size paperback with black ink sold on the US marketplace. The calculation would be:
Royalty = (60% x $15) - $5.00 = $4.00.
You will earn a $4 royalty per sold book.
Conclusion
Amazon Kindle Direct Publishing (KDP) offers a remarkable avenue for writers to fulfill their publishing dreams and reach a vast global audience. By following the step-by-step guide provided, authors can easily navigate the self-publishing process, from creating an account and formatting their manuscript to designing an eye-catching book cover and setting the right price. The benefits of KDP, such as its wide distribution network, author control, competitive royalties, and valuable data insights, make it an attractive choice for both aspiring and established authors.
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Big Tech crackdown looms as EU, UK ready new rules
TikTok, Twitter, Facebook, Google, Amazon and other Big Tech companies are facing rising pressure from European authorities as London and Brussels advanced new rules Tuesday to curb the power of digital companies.
The U.K. government unveiled draft legislation that would give regulators more power to protect consumers from online scams and fake reviews and boost digital competition.
Meanwhile, the European Union was set to release a list of the 19 biggest online platforms and search engines that face extra scrutiny and obligations under the 27-nation bloc's landmark digital rules taking effect later this year.
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The updates help solidify Europe’s reputation as the global leader in efforts to rein in the power of social media companies and other digital platforms.
Britain's Digital Markets, Competition and Consumers bill proposes giving watchdogs more teeth to draw down the dominance of tech companies, backed by the threat of fines worth up to 10% of their annual revenue.
Under the proposals, online platforms and search engines can be required to give rivals access to their data or be more transparent about how their app stores and marketplaces work.
The rules would make it illegal to hire someone to write a fake review or allow the posting of online consumer reviews “without taking reasonable steps" to verify they're genuine. They also would make it easier for consumers get out of online subscriptions.
The new rules, which still need go through the legislative process and secure parliamentary approval, would apply only to companies with 25 million pounds in global revenue or 1 billion pounds in U.K. revenue.
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Also Tuesday, the European Commission, the EU's executive arm, is set to designate 19 of the biggest online platforms or search engines that will have to take extra steps to clean up illegal content and disinformation and keep users safe online.
Violations of the bloc’s new Digital Services Act could result in fines worth up to 6% of a company’s annual global revenue — amounting to billions of dollars — or even a ban on operating in the EU.
Google, Twitter, TikTok, Apple, Facebook and Instagram have already disclosed that they have more than 45 million users in Europe, putting them over the bloc's threshold.
Germany pledges $222 million for Brazil environment, Amazon
German development minister Svenja Schulze announced Monday that her government will make 204 million euros ($222 million) available for environmental policies in Brazil.
Of this total, $38 million is a donation to the Amazon Fund, Schulze told reporters in capital Brasilia. It is the most important international cooperation effort to preserve the Amazon rainforest, and is mostly funded by Norway. In 2019, former far-right President Jair Bolsonaro, who considered the Amazon an internal affair, dissolved the steering committee that selects sustainable projects to finance. In reaction, Germany and Norway froze their donations.
“With the new government and the team of President Luiz Inácio Lula da Silva and (environment) minister Marina Silva, we have a great chance to protect the forest and to offer a new perspective to the people who live there,” Schulze said.
Under Bolsonaro, deforestation in Brazil's Amazon reached a 15-year high as he dismantled environmental protection policies in favor of agribusiness expansion.
Germany also pledged to provide $87 million in low-interest loans for farmers to restore degraded areas and $34 million for Amazon states to protect the rainforest.
“Despite all the difficulties, the increase in deforestation, the land grabbing, the fires, the dire state of the Indigenous populations, we see this as an opportunity to reverse this whole situation,” Silva said during the press conference.
Read more: In Brazil’s Amazon, rivers rise to record levels
Lula, who took office in January, pledged to end all deforestation by 2030. His four-year term ends in December 2026.
The Amazon, which covers an area twice the size of India, acts as a buffer against climate change because its trees absorb large amounts of carbon dioxide, and roughly two-thirds of the Amazon rainforest lies in Brazil. It is also the most biodiverse forest in the world and holds 20% of the world’s fresh water.
Amazon plans to invest $35 billion in new data centers in Virginia
Amazon Web Services plans to invest $35 billion in new data centers in Virginia under a deal with the state, Gov. Glenn Youngkin announced Friday.
Millions of dollars in incentives to close the deal still require legislative approval, but General Assembly leaders in both parties expressed support in a news release issued by Youngkin’s office.
Still, data centers have become a politically volatile topic, particularly in northern Virginia, where the structures are increasingly common and where neighbors are voicing noise and environmental concerns.
Data centers house the computer servers and hardware required to support modern internet use, and demand continues to increase. But the data centers require high-powered fans and extensive cooling capacity that can generate noise. They also consume huge amounts of electricity that can require construction of high-voltage transmission lines to support them.
Bills proposed in the legislature this year would increase regulate where centers could be located.
The governor’s office said the locations of the data centers, to be built by 2040, will be determined at a later date. But tech companies prefer northern Virginia because it is close to the historical backbone of the internet, and proximity to those connection points provides nanoseconds of advantage that are of importance to tech companies that rely on the servers to support financial transactions, gaming technology and other time-sensitive applications.
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Bill Wright, a Prince William County resident who opposed a massive data center expansion recently approved by the county’s Board of Supervisors over considerable community opposition, said Friday’s announcement shows that “the influence of big tech money has become intoxicating to our politicians.”
He said that he does not object to data centers in and of themselves and hopes that the state will place them in areas that don't harm the environment, and in rural areas where jobs are needed. But he expressed skepticism that the state is willing to stand up to tech companies that want the centers in northern Virginia.
“Northern Virginia is being overwhelmed by these things,” Wright said. “We may as well start calling ourselves the Commonwealth of Amazon.”
Suzanne Clark, a spokeswoman the the Virginia Economic Development Partnership, said Amazon Web Services is exploring several site locations “in collaboration with the Commonwealth” but did not specify any sites.
Northern Virginia has been a tech hub since the formation of the internet, and now hosts more data centers than the next five largest U.S. markets combined, according to the Northern Virginia Technology Council. They have also proven to be a cash cow for local governments that embrace them — data centers now provide for more than 30 percent of the general fund budget of Loudoun County, a suburb of the nation’s capital with more than 400,000 residents.
Another data center opponent, Elena Schlossberg with the Coalition to Protect Prince William County, expressed dismay that Youngkin felt emboldened to announce a data center deal in a year when state and local officials are all on the election ballot in Virginia — and as community concern over data centers is growing.
“That is just mind-boggling that he does not see that communities are uniting” in opposition to data centers, she said.
In a tweet, Youngkin spokeswoman Macaulay Porter said $35 billion represents the largest capital investment in Virginia history. In terms of jobs, the governor's office said it is expected to generate more than 1,000 jobs across the state. That pales in comparison to the 25,000 jobs associated with Amazon's decision in 2018 to build a second headquarters in Arlington County.
The deal calls for Amazon to receive incentives from a new Mega Data Center Incentive Program, as well as a grant of up to $140 million for workforce development site improvements and other costs. Both will require legislative approval.
The exact amount of the grant under the incentive program will depend on how many jobs are created, according to the enabling legislation under consideration by the General Assembly. It will also include temporary exemptions from a sales and use tax levied on data centers in Virginia.
State Sen. Chap Petersen, D-Fairfax, is sponsoring legislation that would restrict the placement of data centers near natural or historic resources. Petersen said Virginia risks being overwhelmed by data centers if protections aren't put in place.
“In my opinion, the data centers are short-term financial gains with long-term environmental consequences. Industrial buildings with no actual workers are not the economy of the future,” he said. “In fact, they may well be obsolete in a decade. Meanwhile, we are losing valuable farmland and historic sites.”
An Amazon Web Services spokesman declined to comment on the record over how many data centers are planned and Amazon's preferences for where to locate them.
Amazon, Salesforce jettison jobs in latest tech worker purge
E-commerce giant Amazon and business software maker Salesforce are the latest U.S. technology companies to announce major job cuts as they prune payrolls that rapidly expanded during the pandemic lockdown.
Amazon said Wednesday that it will be cutting about 18,000 positions. It's the largest set of layoffs in the Seattle-based company’s history, although just a fraction of its 1.5 million global workforce.
“Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so,” CEO Andy Jassy said in a note to employees that the company made public. “These changes will help us pursue our long-term opportunities with a stronger cost structure.”
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He said the layoffs will mostly impact the company's brick-and-mortar stores, which include Amazon Fresh and Amazon Go, and its PXT organizations, which handle human resources and other functions.
In November, Jassy told staff that layoffs were coming due to the economic landscape and the company’s rapid hiring in the last several years. Wednesday's announcement included earlier job cuts that had not been numbered. The company had also offered voluntary buyouts and has been cutting costs in other areas of its sprawling business.
Salesforce, meanwhile, said it is laying off about 8,000 employees, or 10% of its workforce.
The cuts announced Wednesday are by far the largest in the 23-year history of a San Francisco company founded by former Oracle executive Marc Benioff. Benioff pioneered the method of leasing software services to internet-connected devices — a concept now known as “cloud computing."
The layoffs are being made on the heels of a shake-up in Salesforce's top ranks. Benioff's hand-picked co-CEO Bret Taylor, who also was Twitter's chairman at the time of its tortuous $44 billion sale to billionaire Elon Musk, left Salesforce. Then, Slack co-founder Stewart Butterfield left. Salesforce bought Slack two years ago for nearly $28 billion.
Salesforce workers who lose their jobs will receive nearly five months of pay, health insurance, career resources, and other benefits, according to the company. Amazon said it is also offering a separation payment, transitional health insurance benefits, and job placement support.
Benioff, now the sole chief executive at Salesforce, told employees in a letter that he blamed himself for the layoffs after continuing to hire aggressively into the pandemic, with millions of Americans working from home and demand for the company's technology surging.
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“As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we’re now facing, and I take responsibility for that," Benioff wrote.
Salesforce employed about 49,000 people in January 2020 just before the pandemic struck. Salesforce's workforce today is still 50% larger than it was before the pandemic.
Meta Platforms CEO Mark Zuckerberg also acknowledged he misread the revenue gains that the owner of Facebook and Instagram was reaping during the pandemic when he announced in November that his company would by laying off 11,000 employees, or 13% of its workforce.
Like other major tech companies, Salesforce's recent comedown from the heady days of the pandemic have taken a major toll on its stock. Before Wednesday's announcement, shares had plunged more 50% from their peak close to $310 in November 2021. The shares gained nearly 4% Wednesday to close at $139.59.
“This is a smart poker move by Benioff to preserve margins in an uncertain backdrop as the company clearly overbuilt out its organization over the past few years along with the rest of the tech sector with a slowdown now on the horizon,” Wedbush analyst Dan Ives wrote.
Salesforce also said Wednesday that it will be closing some of its offices, but didn't include locations. The company's 61-story headquarters is a prominent feature of the San Francisco skyline and a symbol of tech's importance to the city since its completion in 2018.
Amazon to make big business changes in EU settlement
Amazon will make major changes to its business practices to end competition probes in Europe by giving customers more visible choices when buying products and, for Prime members, more delivery options, European Union regulators said Tuesday.
The EU’s executive Commission said it accepted the legally binding commitments from Amazon to resolve two antitrust investigations. The deal allows the company to avoid a legal battle with the E.U.’s top antitrust watchdog that could have ended with potentially huge fines, worth up to 10% of annual worldwide revenue.
The agreement marks another advance by EU authorities as they clamp down on the power of Big Tech companies, and comes just a day after the Commission accused Facebook parent Meta of distorting competition in the classified ads business.
“Today’s decision sets the rules that Amazon will need to play by in the future instead of Amazon determining these rules for all players on its platform,” the EU’s competition commissioner Margrethe Vestager said at a press briefing in Brussels. “With these new rules, competing independent retailers, carriers and European customers will have more opportunities and choice.”
The agreement only applies to Amazon’s business practices in Europe and will last for seven years. Amazon will have to make the promised changes by June.
“We are pleased that we have addressed the European Commission’s concerns and resolved these matters,” Amazon said in a prepared statement, adding that it still disagrees with some of the Commission’s preliminary conclusions.
Amazon had offered concessions in July to resolve the two investigations. It improved those initial proposals after the commission tested them out and received feedback from consumer groups, delivery companies, book publishers and academics.
The company promised to give products from rival sellers equal visibility in the “buy box,” a premium piece of real estate on its website and app that leads to higher sales. The buy box has two buttons that let customers “buy now” or “add to basket.”
Read more: Amazon CEO says company won't take down antisemitic film
European customers will get a second buy box underneath the first one for the same product, but with a different price or delivery offer.
“As Amazon cannot populate both Buy Boxes with its own retail offers, this will give more visibility to independent sellers,” Vestager said. Regulators will monitor how the second box performs and ask the company to adjust the presentation if it doesn’t get enough customers attention, she said.
Amazon is also easing access for merchants and couriers to its Prime membership service. It will stop discriminating against Prime sellers that don’t use its own logistics and delivery services and will let Prime members freely choose any delivery service. Currently, couriers can only deliver Prime parcels if they’re approved by Amazon.
The company also pledged to stop using “non-public data” from independent sellers on its platform to provide insights on how to compete against those merchants through its own sales of branded goods or “private label” products..
Amazon uses the data to decide what kind of products to launch, how much to sell them for, which suppliers to choose, or how to manage inventories, Vestager said.
She said the company has committed to stop doing this with seller data, including sales, revenues, shipments, transaction prices, performance, and consumer visits.
Amazon is facing similar scrutiny in the U.S. and Britain.
In September, California Attorney General Rob Bonta’s office sued Amazon, accusing the company of stifling competition and increasing prices for products across the market through its policies. His office said Amazon effectively barred third-party sellers and wholesale suppliers from offering lower prices elsewhere through contract terms that harmed the ability of other businesses to compete.
The company says it considers an item competitively priced when it’s offered at or below a price displayed by other retailers, which can spur higher prices elsewhere. Some vendors who pay more to sell on Amazon could lower their prices on other sites, but they don’t do so out of fear they will lose valuable Amazon real estate or face suspensions, the lawsuit said.
Read more: Amazon hiring 100,000 employees
The settlement comes amid a wider crackdown by regulators in Europe and elsewhere on Big Tech companies. In March, E.U. officials approved a new law that will take effect by 2024 to prevent so-called digital gatekeepers from dominating markets by giving preference to their own products, or using data collected from different services. Violations could result in fines of up to 10% of their annual revenue.
Amazon CEO says company won't take down antisemitic film
Amazon CEO Andy Jassy said Wednesday the company does not have plans to stop selling the antisemitic film that gained notoriety recently after Brooklyn Nets guard Kyrie Irving tweeted out an Amazon link to it.
Pressure has been mounting on Amazon to discontinue sale of the film, called “Hebrews to Negroes: Wake Up Black America," since Irving shared the link to the documentary with his millions of Twitter followers in October. The synopsis on Amazon says the film “uncovers the true identity of the Children of Israel.”
Read more: Amazon reportedly pays no tax in 2018
At The New York Times’ DealBook Summit in New York City, Jassy said it is difficult for the company to determine what content crosses the line to where Amazon doesn’t make it available to customers.
“As a retailer of content to hundreds of millions of customers with a lot of different viewpoints, we have to allow access to those viewpoints, even if they are objectionable — objectionable and they differ from our particular viewpoints,” the Times quoted Jassy as saying.
He said making decisions about what content to take down is “more straight forward” in some cases, such as when it “actively incites or promotes violence, or teaches people to do things like pedophilia."
Dozens of celebrities, public figures as well as Jewish organizations and the Nets have called on the company to take down the film or add a disclaimer offering an explanation as to why the documentary and related book are problematic.
Amazon told the newspaper earlier this month that it would look into adding a disclaimer on the documentary’s main page. But that hasn’t happened.
The Seattle-based company did not reply to request for comment sent by The Associated Press earlier this month on whether it would add a disclaimer or not. Jassy, who is Jewish, said Wednesday that Amazon has employees that flag content, but scaling that more broadly could be challenging.
Rea more: EU files antitrust charges against Amazon over use of datad
“The reality is that we have very expansive customer reviews,” he said. “For books with a lot of attention — especially public attention — customers do a good job monitoring other people.”
Irving was suspended by the Nets on Nov. 3 after he refused to issue the apology that NBA Commissioner Adam Silver sought for posting the link the the film. He returned after issuing an apology more than two weeks later. He missed eight games.
Jeff Bezos says he will give away most of his $124bn wealth
Amazon founder Jeff Bezos said he will give away the majority of his wealth during his lifetime, becoming the latest billionaire to pledge to donate much of his vast fortune.
Bezos, whose “real-time” worth Forbes magazine estimates at roughly $124.1 billion, made the announcement in a joint CNN interview with his girlfriend Lauren Sanchez that was released on Monday. The billionaire didn’t specify how - or to whom - he will give away the money, but said the couple were building the “capacity” to do it.
“The hard part is figuring out how to do it in a levered way,” Bezos said during the interview. “It’s not easy. Building Amazon was not easy. It took a lot of hard work and very smart teammates. And I’m finding - and Lauren’s finding - that philanthropy is very similar. It’s not easy. It’s really hard.”
Read: Forbes Real-Time Billionaires List: India’s Gautam Adani overtakes Jeff Bezos again
Bezos had been criticized in the past for not signing the Giving Pledge, the campaign launched by Bill Gates, Melinda French Gates and Warren Buffet to encourage billionaires to donate the majority of their wealth through philanthropy.
His ex-wife McKenzie Scott signed that pledge in 2019 and has since emerged as a formidable force in the world of philanthropy, showering charities throughout the country with unexpected - and often secretive - contributions. In the past three years, she’s given more than $12 billion to historically Black colleges and universities, women’s rights group and other nonprofits.
Bezos, who divorced from Scott in 2019, stepped down as Amazon CEO last year to devote more time to philanthropy and other projects. Among other donations, he’s pledged $10 billion to fight climate change as part of his Bezos Earth Fund initiative. Last year, he gave $510.7 million to charity, according to The Chronicle of Philanthropy.
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On Saturday, Bezos and Sanchez announced they will give a no-strings-attached $100 million grant to singer Dolly Parton, who’s been praised for her philanthropic work that helped create the Moderna vaccine for COVID-19. Bezos had given a similar grant to chef José Andrés and CNN commentator Van Jones last year.