- Amazon’s stock surged on Friday, a day after it reported blowout second-quarter results.
- Analysts cheered stabilizing AWS growth, improving retail margins, and progress on cutting costs.
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- Amazon will invest $120 million in a satellite processing facility at NASA’s Kennedy Space Center in Florida.
- Project Kuiper is Amazon’s plan to build a network of 3,236 satellites in low Earth orbit, to provide high-speed internet access anywhere in the world.
- The 100,000-square-foot processing facility will serve as one of the final steps before the satellites reach orbit, preparing them for launches on the rockets of ULA and Blue Origin.
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- Amazon agreed to pay a $25 million civil penalty as part of a settlement with the Justice Department and the FTC to resolve allegations the ecommerce giant’s Alexa voice assistant violated a U.S. children’s privacy law, the DOJ announced.
- Under the terms of the settlement, Amazon also is required to change its practices relating to the alleged violations and inform consumers of its practices.
Read More at variety.com
- Amazon is bringing its pay-by-palm system to all of its Whole Foods stores by the end of the year.
- Amazon One lets users enter and pay for items in stores by swiping their hand over a kiosk.
- The company is increasingly marketing the technology to third parties.
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- A “small number” of staffers in the Amazon Pharmacy division were informed Thursday they were being laid off, Amazon spokesperson Brad Glasser said in a statement.
- The company recently wrapped up the largest layoffs in its history.
- Amazon CEO Andy Jassy has been aggressively slashing costs across the company as the e-retailer reckons with an economic downturn and slowing revenue growth.
Read More at cnbc.com
