Amazon.com was primed to join Apple at $1 trillion in market cap — now it’s worth less than Microsoft

Amazon was very nearly the second U.S. company worth $1 trillion last month. Now, its worth less than a neighbor and major cloud rival. Amazon AMZN, -7.82% had been No. 2 to Apple Inc. AAPL, -1.59% and briefly flirted with a $1 trillion market cap in early September, but a steep descent after Thursday evening’s…

Continue Reading →

The Amazon Selling Machine

Read: What Amazon does to poor cities Amazon is catnip to advertisers for the simple reason that it is already an integral part of the way we buy. About half of online shoppers start their product searches on Amazon. But the company also owns Whole Foods, Twitch, Zappos, Audible, and IMDb, and sells TVs, tablets,…

Continue Reading →

eBay is suing Amazon for allegedly stealing away its sellers

Despite its recent push into private-label merchandise, Amazon still depends on a large network of third-party merchants to sell on Amazon.com. In a complaint filed Oct. 17 in Santa Clara, California, competitor eBay alleges that Amazon has for years violated its user policies to poach eBay sellers for its own e-commerce platform. “Since 2015, dozens…

Continue Reading →

EBay Sues Amazon, Alleging Sellers Were Illegally Poached

EBay.com Inc. on Wednesday filed a lawsuit against Amazon.com Inc. accusing the company of illegally poaching sellers on its marketplace via eBay’s internal messaging system. The lawsuit, filed in Santa Clara County in California, accuses Amazon of having “perpetrated a scheme to infiltrate and exploit eBay’s internal member email system” over the past few years. The alleged scheme…

Continue Reading →

Amazon built an AI tool to hire people but had to shut it down because it was discriminating against women

Amazon worked on building an artificial-intelligence tool to help with hiring, but the plans backfired when the company discovered the system discriminated against women, Reuters reports. Citing five sources, Reuters said Amazon set up an engineering team in Edinburgh, Scotland, in 2014 to find a way to automate its recruitment. The company created 500 computer…

Continue Reading →

Amazon workers split as company raises minimum wage

MURFREESBORO, Tenn.  •  Almost no workers clapped this week at the all-hands meeting after lunch at this Amazon fulfillment center outside Nashville when a plant manager announced that the company’s minimum wage was climbing to $15 an hour. Instead of celebrating, many workers put their hands up to ask questions and express deep frustration, according…

Continue Reading →