Amazon CEO Blames 'Culture'
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Wall Street's main stock indexes closed higher on Friday, with their biggest boost coming from Amazon's upbeat earnings forecast, but sentiment was dampened by worries that the Federal Reserve is becoming more cautious about cutting rates.
After unexpectedly strong sales and profits across its consumer and cloud businesses, the tech giant said another strong quarter might be ahead.
Amazon.com Inc. posted robust cloud growth that reassured investors that the tens of billions of dollars the company and its peers are pouring into artificial intelligence will pay off.
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Amazon chief executive Andy Jassy’s explanation for why the company is cutting 14,000 employees? Not money. Not even AI, but “culture.”
Amazon said on Oct. 28 that it is cutting thousands of corporate jobs. What does this mean for its Floridian employees?
Fans who bought WrestleDream through Amazon Prime Video and watched the PPV live were reporting issues with the stream throughout the show. There were some occasions when fans claimed the feed had blacked out for minutes at a time, resulting in them missing significant chunks of the show.
Amazon led the way and jumped 9.6%. The retail giant was by far the strongest force lifting the market after reporting profit for the latest quarter that blew past analysts’ expectations. CEO Andy Jassy said growth for its booming cloud-computing business has accelerated to a pace it hasn’t seen since 2022.