Tag: Amazon

Tech sparks sell-off as Apple, Amazon pace drop

equity markets declined on Thursday as tech stocks bore the brunt of the selling a day after the Federal Reserve said its policy would remain loose for the foreseeable future.” data-reactid=”17″U.S. equity markets declined on Thursday as tech stocks bore the brunt of the selling a day after the Federal Reserve said its policy would remain loose for the foreseeable future.

Investors rotated out of momentum players pushing the Nasdaq down 1.27% as Apple Inc., Amazon Inc., Microsoft Corp. and Tesla Inc., which have steered the market, fell.

The S&P 500 and the Dow Jones Industrial Average were lower by 0.84% and 0.47%, respectively.

Looking at the economy, initial claims fell to 860,000 in the week ended Sept. 12 but were slightly above the 850,000 that analysts surveyed by Refinitiv were anticipating. Continuing claims, meanwhile, dropped to 12.628 million and were below the 13 million that was expected.

Additionally, housing starts,

Read More

Amazon Backs Startup Led by Former Tesla Top Executive

Car battery recycling startup, Redwood Materials, co-founded by one of Tesla’s  (TSLA) – Get Report former top executives, received backing on Thursday from Amazon’s  (AMZN) – Get Report $2 billion venture investment fund to combat climate change.

The Climate Pledge Fund is a venture investment program backing sustainable technologies and services that will help Amazon and other companies reach net-zero carbon emissions by 2040.

Redwood Materials, co-founded by Tesla’s former chief technology officer, JB Straubel, will help Amazon recycle electric vehicle batteries and reuse their components, the company said. Amazon plans to have as many as 100,000 of its own electric delivery vans on the road by 2030.  

Amazon also lent its support to startups like Canada-based CarbonCure Technologies which licenses carbon-capture technology to cement companies for a monthly fee. The company will help Amazon lower its carbon footprint for its office spaces including its second

Read More

Uber Hires Amazon Exec to Fill Chief Technology Officer Role

Ride- and food-hailing app Uber Technologies  (UBER) – Get Report has hired  Amazon.com  (AMZN) – Get Report executive Sukumar Rathnam as its new chief technology officer, filling a position that has been vacant for more than three months.

Rathnam, who had been at Amazon since 2011 and was most recently a vice president in charge of product selection and catalog systems, will start Sept. 28. Announced within Uber’s ranks on Thursday, the hiring was first reported by The Information.

Uber’s previous chief technology officer, Thuan Pham, stepped down in May after seven years at the San Francisco company just before it laid off more than 6,000 employees, or 25% of its workforce, as it grappled with a global, pandemic-related slowdown in ride demand.

Those layoffs continued this week, with the transportation and food-delivery giant announcing on Wednesday that it will slash 30% of its jobs in

Read More

Testing Amazon Kitchen: Here’s our hot take on the tech giant’s first hot food bar at Amazon Go Grocery

Amazon does deliveries, cloud computing, voice technology, and e-readers pretty damn well.

The company’s hot food game, though, could use a little work.

That’s my verdict after taste testing a 3-cheese melt, a fajita burrito, chicken fingers, and Italian Wedding Soup from Amazon’s newest grocery store.

If you’re looking for a quick 7-Eleven-style bite — affordable, convenient, but not exactly gourmet — then Amazon Go Grocery fits the bill. But I probably won’t be seeking out “Amazon Kitchen” for my next meal.

The new Amazon Go Grocery in Redmond, Wash.

Amazon just opened its second Amazon Go Grocery location in Redmond, Wash., a stone’s throw away from Microsoft’s sprawling campus just east of downtown Seattle. The first store opened earlier this year in Seattle’s Capitol Hill neighborhood location.

Like Amazon’s other Go stores, customers scan a QR code from the Amazon Go app to enter, as overhead cameras track humans
Read More

Tesla Cofounder’s Battery Recycling Startup Wins Investment From Amazon Climate Fund

Redwood Materials, a battery recycling startup created by Tesla’s
TSLA
former chief technology officer, is among the first companies to win investment from Amazon’s
AMZN
$2 billion venture fund created to back companies with technology contributing to carbon reduction efforts. 

Amazon said its Climate Pledge Fund, launched in June, is focused on backing companies “building technologies, products and services that will help Amazon and other companies accelerate the path to net-zero carbon.” Neither the retail giant nor Redwood Materials disclosed how much the fund is putting into Redwood City, Nevada-based startup.

“To fight climate change, we need to solve the impact products have on the environment, Redwood cofounder and CEO JB Straubel said. “We’re honored to be part of the Amazon’s Climate Pledge Fund and to build the closed-loop supply chain that will recycle batteries, electronics and

Read More

Amazon defends partnerships with oil industry as Washington governor seeks to rein it in

Environmental activists protest outside Amazon’s annual meeting in May 2019. (GeekWire Photo / Monica Nickelsburg)

Amazon’s sustainability chief defended the company’s partnerships with fossil fuel companies Thursday during an Axios virtual event with Washington Gov. Jay Inslee.

Both Inslee and Amazon’s head of worldwide sustainability, Kara Hurst, said that the oil and gas sector could be a partner in the quest to decarbonize the economy, though the governor called on lawmakers to force the industry’s hand.

Axios hosted the “economics of renewable energy” event at a moment when the debate over climate change is front of mind for many Americans facing wildfires and tropical storms.

Amazon has unveiled sweeping new sustainability policies over the last few years, but environmentalists — including the internal group Amazon Employees for Climate Justice — are demanding the company sever ties with the fossil fuel industry.

Amazon Web Services, the company’s cloud arm, actively pursues

Read More

Best smart speakers of 2020: Google Nest Mini, Amazon Echo Dot, and Apple HomePod compared

In 2020, Amazon, Google and Apple are all making good smart speakers. The competition between these tech giants only pushes them to keep getting better. Amazon popularized smart speakers with the original Echo and the Alexa voice assistant, but today you have several options, each with their own pros and cons. 

So how do you pick the best smart speaker for your needs? Well, the key differences largely come down to hardware size, price and audio quality. If you don’t need much oomph from your music and you’re good with a little lower audio quality, you can save money and get the same smarts in a smaller smart speaker.

Our favorites, the Amazon Echo Dot and the Google Nest Mini, are both awesome smart devices. Pretty much all of

Read More

Startups Amazon is backing with its $2 billion climate fund

  • Amazon on Thursday announced the first five startups that will receive cash from the tech giant’s Climate Pledge Fund.
  • Amazon is spending $2 billion on low-carbon technologies through the fund, rivaling the clean-energy industry’s biggest spenders.
  • The company is backing a handful of different technologies in the first group, from carbon-capture to electric transportation. See them all here. 
  • For more stories like this, sign up here for our weekly energy newsletter

Amazon is set to become one of the largest climate-tech funders, after announcing a $2 billion fund as part of its ambition to become a net-zero carbon company by 2040.

Now, it’s clear where the tech giant is spending some of that cash. On Thursday, Amazon announced its first five investments, which are related to carbon capture or electric transportation and motors. 

Through the Climate Pledge Fund, Amazon participated in electric-vehicle startup Rivian’s funding round in July. The company

Read More

PS5 Preorder: Where To Buy The Console (Amazon, Best Buy, GameStop, And More)

After months of waiting, Sony has finally revealed preorder information for the PlayStation 5, along with the price and release date for the next-generation console. Launching November 12 at $500 for the standard console and $400 for the digital edition, the PS5 will officially be available to preorder starting tomorrow, September 17, at select retailers, which PlayStation confirmed in a tweet after today’s PS5 showcase. However, listings have already started going live early.

Quick Look: Where To Preorder A PS5:

As of 00:00 AM ET on September 17, preorders are available at Best Buy and going in and out at GameStop. Preorders also appeared very briefly at Amazon. You may need to keep refreshing if the console shows as unavailable.

Walmart will also have the PS5 available to preorder in stores on September 22, the company said in an email. Check with your local store for availability.

GameStop is also

Read More

Amazon to open more than 1,000 small warehouses in suburbs across the US, report says

amazon-prime-van-gettyimages-1156013448

Amazon vans lined up at a distribution center in Orlando, Florida. 


Paul Hennessy/NurPhoto via Getty Images

Amazon reportedly plans to open more than a thousand small delivery hubs in cities and suburban neighborhoods across the US in an effort to deliver products to customers as quickly as possible. The facilities will eventually number around 1,500, according to a report Wednesday from Bloomberg, and could help the online retail giant continue to expand one-day delivery for Amazon Prime subscribers.  

Many of Amazon’s warehouses have traditionally been located on the fringes of suburbs, but the expansion of these quick-delivery warehouses would put them deeper in communities alongside car dealerships, fast-food restaurants and big-box stores, according to Bloomberg. 

The move could help Amazon continue to push faster deliveries as it competes

Read More