The logistic center in question, located in Dublin’s Baldonnell Business Park, has an area of 1.2 million square feet, with approximately 630,000 square feet of the site being used by Amazon. Ortega reportedly purchased the property from property developer Mountpark.

Worth 2.2 billion euros in Inditex dividend this year, the Omega family investment house has been expanding its portfolio this year by investing in logistics centers, luxury buildings, and renewable energy projects. Still, the firm’s biggest investment purchase in the United States came in 2019, upon acquiring two Seattle office blocks leased to Amazon.

The post Zara Founder Buys $245 Million Amazon Logistic Center appeared first on theprimarymarket.com.

EU antitrust regulators issued a statement saying that Amazon’s acquisition of iRobot could lead to the e-commerce company restricting competition in the robot vacuum cleaner market. 

“Amazon may have the ability and the incentive to foreclose iRobot’s rivals by engaging in several foreclosing strategies aimed at preventing rivals from selling RVCs on Amazon’s online marketplace and/or at degrading their access to it,” said the statement.

European Commission has been looking into the acquisition for a while and is expected to make the final decision on the proposal in early 2024. There was a widespread belief that the ruling would be positive for Amazon, but the recent statement makes the approval less certain.

“iRobot, which faces intense competition from other vacuum cleaner suppliers, offers practical and inventive products,” an Amazon spokesperson said in a statement provided to CNBC. “We believe Amazon can offer a company like iRobot the resources to accelerate innovation and invest in critical features while lowering prices for consumers.”

iRobot shares jumped more than 40% last week following a report by Reuters that the EU Commission will approve Amazon’s acquisition of the company. However, the latest development saw the stock drop to $33.08 per share at one point on Monday compared to the opening price of $42.10.

The post iRobot Stock Plunges Amid EU Commission Expresses Concerns About Amazon Takeover appeared first on theprimarymarket.com.

Paul de La Baume, an investment advisor at BNP Paribas Suisse SA, commented that traders are “opting to sell first in fear that sentiment will get worse before it gets better.” A slew of disappointing corporate earnings has prompted investors to reevaluate their valuations which appear to be higher than they should be.

With Treasury yields on the rise and the dollar continuing to strengthen, observers now await US initial jobless claims and GDP numbers that are set to be released later in the day. These metrics are expected to provide a clearer picture of the current economic landscape.

The post Nasdaq Futures Plunge 1% Following Disappointing Earnings appeared first on theprimarymarket.com.

“I made it a goal for our country to get to net-zero emissions from pollutants by 2050,” Biden explained. “By the way, it’s the only existential threat to humanity, if we don’t stay below these numbers, the whole world is changing. Clean hydrogen is going to help us meet this goal. When it comes to charging our cars or powering our homes, all we need is clean electricity.”

According to a report by the US Energy Department, the country could produce up to 10 million metric tons of hydrogen by 2030. The U.S. government has been on a mission to reduce hydrogen costs by 80% to $1 a kilogram by 2030.

The post Amazon, Exxon Hydrogen to Receive Piece of $7 Billion U.S. Funds appeared first on theprimarymarket.com.

The company’s decision to start charging delivery fees for orders under $150 came in February, as the company sought to recuperate its rising costs and survive in an online shopping market with a slowing growth rate.

An Amazon spokesperson confirmed that the company’s new delivery pricing model is set to be implemented next Thursday. For orders costing between $50 and $100, customers who subscribe to Amazon Prime will be required to pay a $6.95 delivery fee. For those orders under $50, a $9.95 fee will be implemented. Customers who are not subscribed to Amazon Prime will be required to pay between $7.95 and $13.95.

The post Amazon Offers Free Grocery Delivery for Orders Exceeding $100 appeared first on theprimarymarket.com.

Net sales for the three months ending June was $134.38 billion, exceeding analysts’ expectations of $131.63 billion with a guidance of $127 billion to $133 billion. The Amazon Web Services cloud unit generated $22.14 billion compared to an estimate of $21.71 billion.

Amazon’s diluted earnings per share for the quarter were $0.65, far exceeding Wall Street’s forecast of $0.35 per share. The company’s operating margin was 5.7%, compared to an estimated 3.46%.

Following the company’s strong Q2 results, Amazon decided to raise its third-quarter revenue outlook to a range of $138 billion and $143 billion, beating the expected $183.3 billion.

The post Amazon Stock Jumps Amid Strong Q2 Earnings appeared first on theprimarymarket.com.

The policy change is reportedly expected to affect remote workers and those who moved during the pandemic. The remote workers will be required to report to one of the “main hub” offices, including those located in Seattle, San Francisco, and New York.

It is currently unclear how many employees will be affected by the change, with the decision being made “on a departmental basis.”

“There’s more energy, collaboration, and connections happening since we’ve been working together at least three days per week, and we’ve heard this from lots of employees and the businesses that surround our offices,” an Amazon spokesperson said in a statement provided to Bloomberg. “We continue to look at the best ways to bring more teams together in the same locations, and we’ll communicate directly with employees as we make decisions that affect them.”

Amazon received a significant backlash from its workers after announcing the “three days per week in the office” policy back in May, with employees at the Seattle offices staging a walkout in protest.

The post Amazon Will Have Some of Its Workers Relocate as Part of the “Return-to-Office” Push appeared first on theprimarymarket.com.

According to a recent report published by Bloomberg, Amazon, and Google, as well as some other big U.S. companies working in Europe, are finding it hard to cut jobs. The main reason is that EU labor laws are stricter than the ones in the U.S. and make large-scale layoffs a huge challenge.

The process of bigger job cuts in Europe can’t be completed without completing various steps, including talks and negotiations with employee councils. This means that going through with the layoffs will be much more laborious for tech companies than they envisioned.

Trying to overcome these problems, Amazon and Google have started offering incentives and generous severance packages to affected workers in an attempt to encourage them to leave their jobs voluntarily. For example, Amazon offered some senior managers “as much as one year’s pay,” among other benefits, to try and get them to leave.

“We have been working carefully and individually through each country where reductions are taking place to fully adhere to local legal requirements, which vary per location, are complex, and take time,” a Google spokesperson wrote in the mail when reached out by Bloomberg.

Amazon announced additional layoffs in March that will see the company trim its workforce by 9,000 employees. Google, on the other hand, announced in January that it would cut around 12,000 jobs. 

The post Amazon and Google Facing Obstacles in Conducting Planned Layoffs in Europe appeared first on theprimarymarket.com.

Back in November, Amazon had its first big round of layoffs, parting ways with 10,000 workers. This was followed by the exit of another 8,000 employees in early 2023. At the time, affected teams felt caught off guard by the actions, which is why the company has now decided to make an early announcement.

Reuters reports that the layoffs will affect teams involved in Amazon Web Services and other “advertising and cloud computing divisions” as well as the streaming platform Twitch. Around 400 Twitch employers will be laid off, according to a blog post published by Twitch CEO Dan Clancy.

“Like many companies, our business has been impacted by the current macroeconomic environment, and user and revenue growth has not kept pace with our expectations. In order to run our business sustainably, we’ve made the very difficult decision to shrink the size of our workforce,” Clancy wrote.

Amazon has made several other moves in 2023 to cut costs, including putting an end to some experimental projects and closing several of its cashierless Amazon Go stores. Eight stores in total are set to close in Seattle, San Francisco, and New York.

Amazon’s stock surged around 3 percent on Tuesday, trading at $100.66 before close hours. The company’s shares are 17 percent up year-to-date.

The post Amazon Doubles Down On Layoffs, Will Trim Its Workforce by Another 9,000 Employees appeared first on theprimarymarket.com.

Back in 2019, Rivian pledged to sell all the electric delivery vans it produces to Amazon. However, Amazon only placed an order of 10,000 vans for 2023, which is far below the expected figure. As a result, Rivian now reportedly wants to remove the exclusivity clause, a move that would allow them to offer the vans to other companies as well.

When reached out to by The Wall Street Journal, Rivian spokeswoman reiterated their relationship with Amazon “has always been a positive one.”

“We continue to work closely together and are navigating a changing economic climate, similar to many companies,” Rivian spokeswoman added.

On the other hand, an Amazon spokeswoman told the media outlet that the company still plans to stick to their original agreement and purchase 100,000 Rivian electric delivery vans by 2030. Amazon owns a 17% stake in Rivian, making them the EV maker’s largest shareholder.

Rivian stock has been sliding since early March after the company announced a decision to sell $1.3 billion in bonds to raise capital. It traded at $13.73 per share on Monday, which is almost 21 percent down year-to-date.

The post Rivian and Amazon Renegotiating Exclusive Electric Delivery Vans Agreement appeared first on theprimarymarket.com.

The logistic center in question, located in Dublin’s Baldonnell Business Park, has an area of 1.2 million square feet, with approximately 630,000 square feet of the site being used by Amazon. Ortega reportedly purchased the property from property developer Mountpark.

Worth 2.2 billion euros in Inditex dividend this year, the Omega family investment house has been expanding its portfolio this year by investing in logistics centers, luxury buildings, and renewable energy projects. Still, the firm’s biggest investment purchase in the United States came in 2019, upon acquiring two Seattle office blocks leased to Amazon.

The post Zara Founder Buys $245 Million Amazon Logistic Center appeared first on theprimarymarket.com.

EU antitrust regulators issued a statement saying that Amazon’s acquisition of iRobot could lead to the e-commerce company restricting competition in the robot vacuum cleaner market. 

“Amazon may have the ability and the incentive to foreclose iRobot’s rivals by engaging in several foreclosing strategies aimed at preventing rivals from selling RVCs on Amazon’s online marketplace and/or at degrading their access to it,” said the statement.

European Commission has been looking into the acquisition for a while and is expected to make the final decision on the proposal in early 2024. There was a widespread belief that the ruling would be positive for Amazon, but the recent statement makes the approval less certain.

“iRobot, which faces intense competition from other vacuum cleaner suppliers, offers practical and inventive products,” an Amazon spokesperson said in a statement provided to CNBC. “We believe Amazon can offer a company like iRobot the resources to accelerate innovation and invest in critical features while lowering prices for consumers.”

iRobot shares jumped more than 40% last week following a report by Reuters that the EU Commission will approve Amazon’s acquisition of the company. However, the latest development saw the stock drop to $33.08 per share at one point on Monday compared to the opening price of $42.10.

The post iRobot Stock Plunges Amid EU Commission Expresses Concerns About Amazon Takeover appeared first on theprimarymarket.com.

Paul de La Baume, an investment advisor at BNP Paribas Suisse SA, commented that traders are “opting to sell first in fear that sentiment will get worse before it gets better.” A slew of disappointing corporate earnings has prompted investors to reevaluate their valuations which appear to be higher than they should be.

With Treasury yields on the rise and the dollar continuing to strengthen, observers now await US initial jobless claims and GDP numbers that are set to be released later in the day. These metrics are expected to provide a clearer picture of the current economic landscape.

The post Nasdaq Futures Plunge 1% Following Disappointing Earnings appeared first on theprimarymarket.com.

“I made it a goal for our country to get to net-zero emissions from pollutants by 2050,” Biden explained. “By the way, it’s the only existential threat to humanity, if we don’t stay below these numbers, the whole world is changing. Clean hydrogen is going to help us meet this goal. When it comes to charging our cars or powering our homes, all we need is clean electricity.”

According to a report by the US Energy Department, the country could produce up to 10 million metric tons of hydrogen by 2030. The U.S. government has been on a mission to reduce hydrogen costs by 80% to $1 a kilogram by 2030.

The post Amazon, Exxon Hydrogen to Receive Piece of $7 Billion U.S. Funds appeared first on theprimarymarket.com.

The company’s decision to start charging delivery fees for orders under $150 came in February, as the company sought to recuperate its rising costs and survive in an online shopping market with a slowing growth rate.

An Amazon spokesperson confirmed that the company’s new delivery pricing model is set to be implemented next Thursday. For orders costing between $50 and $100, customers who subscribe to Amazon Prime will be required to pay a $6.95 delivery fee. For those orders under $50, a $9.95 fee will be implemented. Customers who are not subscribed to Amazon Prime will be required to pay between $7.95 and $13.95.

The post Amazon Offers Free Grocery Delivery for Orders Exceeding $100 appeared first on theprimarymarket.com.

Net sales for the three months ending June was $134.38 billion, exceeding analysts’ expectations of $131.63 billion with a guidance of $127 billion to $133 billion. The Amazon Web Services cloud unit generated $22.14 billion compared to an estimate of $21.71 billion.

Amazon’s diluted earnings per share for the quarter were $0.65, far exceeding Wall Street’s forecast of $0.35 per share. The company’s operating margin was 5.7%, compared to an estimated 3.46%.

Following the company’s strong Q2 results, Amazon decided to raise its third-quarter revenue outlook to a range of $138 billion and $143 billion, beating the expected $183.3 billion.

The post Amazon Stock Jumps Amid Strong Q2 Earnings appeared first on theprimarymarket.com.

The policy change is reportedly expected to affect remote workers and those who moved during the pandemic. The remote workers will be required to report to one of the “main hub” offices, including those located in Seattle, San Francisco, and New York.

It is currently unclear how many employees will be affected by the change, with the decision being made “on a departmental basis.”

“There’s more energy, collaboration, and connections happening since we’ve been working together at least three days per week, and we’ve heard this from lots of employees and the businesses that surround our offices,” an Amazon spokesperson said in a statement provided to Bloomberg. “We continue to look at the best ways to bring more teams together in the same locations, and we’ll communicate directly with employees as we make decisions that affect them.”

Amazon received a significant backlash from its workers after announcing the “three days per week in the office” policy back in May, with employees at the Seattle offices staging a walkout in protest.

The post Amazon Will Have Some of Its Workers Relocate as Part of the “Return-to-Office” Push appeared first on theprimarymarket.com.

According to a recent report published by Bloomberg, Amazon, and Google, as well as some other big U.S. companies working in Europe, are finding it hard to cut jobs. The main reason is that EU labor laws are stricter than the ones in the U.S. and make large-scale layoffs a huge challenge.

The process of bigger job cuts in Europe can’t be completed without completing various steps, including talks and negotiations with employee councils. This means that going through with the layoffs will be much more laborious for tech companies than they envisioned.

Trying to overcome these problems, Amazon and Google have started offering incentives and generous severance packages to affected workers in an attempt to encourage them to leave their jobs voluntarily. For example, Amazon offered some senior managers “as much as one year’s pay,” among other benefits, to try and get them to leave.

“We have been working carefully and individually through each country where reductions are taking place to fully adhere to local legal requirements, which vary per location, are complex, and take time,” a Google spokesperson wrote in the mail when reached out by Bloomberg.

Amazon announced additional layoffs in March that will see the company trim its workforce by 9,000 employees. Google, on the other hand, announced in January that it would cut around 12,000 jobs. 

The post Amazon and Google Facing Obstacles in Conducting Planned Layoffs in Europe appeared first on theprimarymarket.com.

Back in November, Amazon had its first big round of layoffs, parting ways with 10,000 workers. This was followed by the exit of another 8,000 employees in early 2023. At the time, affected teams felt caught off guard by the actions, which is why the company has now decided to make an early announcement.

Reuters reports that the layoffs will affect teams involved in Amazon Web Services and other “advertising and cloud computing divisions” as well as the streaming platform Twitch. Around 400 Twitch employers will be laid off, according to a blog post published by Twitch CEO Dan Clancy.

“Like many companies, our business has been impacted by the current macroeconomic environment, and user and revenue growth has not kept pace with our expectations. In order to run our business sustainably, we’ve made the very difficult decision to shrink the size of our workforce,” Clancy wrote.

Amazon has made several other moves in 2023 to cut costs, including putting an end to some experimental projects and closing several of its cashierless Amazon Go stores. Eight stores in total are set to close in Seattle, San Francisco, and New York.

Amazon’s stock surged around 3 percent on Tuesday, trading at $100.66 before close hours. The company’s shares are 17 percent up year-to-date.

The post Amazon Doubles Down On Layoffs, Will Trim Its Workforce by Another 9,000 Employees appeared first on theprimarymarket.com.

Back in 2019, Rivian pledged to sell all the electric delivery vans it produces to Amazon. However, Amazon only placed an order of 10,000 vans for 2023, which is far below the expected figure. As a result, Rivian now reportedly wants to remove the exclusivity clause, a move that would allow them to offer the vans to other companies as well.

When reached out to by The Wall Street Journal, Rivian spokeswoman reiterated their relationship with Amazon “has always been a positive one.”

“We continue to work closely together and are navigating a changing economic climate, similar to many companies,” Rivian spokeswoman added.

On the other hand, an Amazon spokeswoman told the media outlet that the company still plans to stick to their original agreement and purchase 100,000 Rivian electric delivery vans by 2030. Amazon owns a 17% stake in Rivian, making them the EV maker’s largest shareholder.

Rivian stock has been sliding since early March after the company announced a decision to sell $1.3 billion in bonds to raise capital. It traded at $13.73 per share on Monday, which is almost 21 percent down year-to-date.

The post Rivian and Amazon Renegotiating Exclusive Electric Delivery Vans Agreement appeared first on theprimarymarket.com.