Online marketplace Amazon has launched a new initiative dedicated to supporting and funding entrepreneurs from underrepresented backgrounds. The 150 million dollar fund, ‘Amazon Catalytic Capital’, will look to support venture capitals, accelerators, incubators and venture studios that back relevant companies which are primarily at the pre-seed...
6 Oct 2022
Amazon has announced a pay increase for its US front-line employees as part of a one billion dollar investment over the next year. According to the marketplace, the average starting pay for related employees in customer fulfilment and transportation will increase from 18 dollars per hour to more than 19 dollars per hour. Alongside the pay rise,...
29 Sept 2022
Amazon's Prime Early Access Sale will take place on 11th and 12th October in fifteen countries. The two-day global shopping event will only be available to Prime members and will feature "hundreds of thousands" of holiday deals. The shopping event will be available in Austria, Canada, China, France, Germany, Italy, Luxembourg, the Netherlands,...
26 Sept 2022
Swiss model-turned-designer Yannik Zamboni was named the winner of Prime Video’s Making the Cut season 3. Zamboni, who has a Bachelor of Arts in fashion design from the University of Applied Sciences and Arts Northwestern Switzerland, won 1 million US dollars from Amazon Fashion to invest in his label, Maison Blanche, which he founded in...
12 Sept 2022
The world’s largest online retailer is facing colossal challenges to reduce its carbon footprint. A surge in pandemic shopping showed Amazon’s 2021 carbon emissions grew 18 percent. As the e-commerce behemoth aims to grow its businesses, so does its footprint. Despite the electrical vehicles it uses for some of its deliveries; a switch to...
3 Aug 2022
US retail giant Amazon swung to its second consecutive quarterly loss in the three months to June 30. The Seattle-based company made a net loss of 2 billion dollars in the quarter compared to a profit of 7.8 billion dollars a year ago. Amazon said its investment in electric vehicle company Rivian had a big impact on its profits. Despite the...
29 Jul 2022
Amazon’s Prime membership, a paid subscriptions service that gives users access to additional services such as same day delivery, will become more expensive in Europe by as much as 43 percent. According to the Wall Street Journal the e-commerce giant cites inflation for coming price increases for Prime customers in UK, France, Germany, Spain and...
27 Jul 2022
Online marketplace Amazon has announced that it has signed an agreement with One Medical that will see it acquire the US primary care organisation for approximately 3.9 billion dollars. One Medical’s mission is to make healthcare more accessible and affordable through in-person, digital and virtual care services. Its offer allows healthcare...
22 Jul 2022
Amazon has a fake product review problem. So much so that it is suing over 10,000 Facebook group administrators for “attempting to orchestrate fake reviews on Amazon in exchange for money or free products.” Amazon said it takes the integrity of its reviews platform very seriously and will remove reviews, and delist related products. It also said...
20 Jul 2022
US retail giant Amazon plans to create a further 4,000 permanent roles across the UK, bringing its total workforce there to 75,000. If it achieves that goal, it will have created 40,000 new jobs in the UK in the past three years, and will be in the top ten largest private sector employers in the UK. The new jobs announced Friday include roles in...
15 Jul 2022
A new polyester recycling trial by Accelerating Circularity is set to launch, looking to bring post-consumer polyester waste back into textile manufacturing. Entitled ‘Accelerating Circularity Europe’, the initiative, which is backed by Target, Walmart, Inditex, Zalando and Amazon, according to WWD, will begin the trial in Europe and has been...
Amazon sold 100,000 items per minute over its Prime Day sales bonanza, totalling over 300 million items purchased around the world. The e-commerce giant said it was its most successful Prime Day event to date, taking in 3 billion dollars of revenue. “Prime Day is a celebration of our Prime members, who look forward to this event every year, and...
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