Amazon employees have been told to remove the short-video app TikTok from their devices immediately. According to CNN, TikTok is owned by the world's most valuable startup, a Chinese company named ByteDance. But TikTok does not operate in China and functions as an independent subsidiary. Its servers are based in the US and not subject to Chinese laws. However, other organizations have moved to ban TikTok.
Amazon's global ecommerce sales will reach $416.48 billion in 2020, according to Business Insiders latest latest estimates. Consumers are relying more heavily on e-commerce due to COVID-19. The new figure is about $12 billion more than our pre-pandemic estimates. Most of Amazon's sales come from the US. However, the pandemic has also fueled growth in Germany, the UK and Japan.
Walmart is reportedly set to launch Walmart+ ...the company’s answer to Amazon Prime. Walmart + will go live later in July, after the coronavirus pandemic delayed its initial springtime launch. A Walmart spokesperson declined to provide further comment about Walmart+ to Business Insider. This is Walmart's latest bid to dominate e-commerce and fend off its online, Seattle-based rival. The $98 monthly subscription is rumored to include several perks, including...
The economy is in a depression. However, Jeff Bezos' net worth has increased. CNN reports that he's now worth nearly $172 billion, a new record for the world's richest person. This week, Bezos beat his previous wealth record that he reached prior to his divorce from his ex-wife MacKenzie. Much of Bezos' wealth is tied to Amazon. He owns roughly 57 million shares, or 12% of the company. And its stock has soared 56% year to date.
Amazon.com said on Tuesday it will launch a $2 billion venture capital fund that will focus on technology investments to reduce the impact of climate change and support sustainable development. Fred Katayama reports.
Joe Biden has not selected a vice president for his 2020 campaign. He pledged to chose a woman for his ticket. Elizabeth Warren is campaigning hard to be Biden's running mate. But, a new poll of Democratic voters could be bad news for the senator. According to Fox News 19% found her to be a “not acceptable” choice, the highest negative rating of any of the 11 candidates listed. Her negative views rose among white voters.
Elizabeth Warren wants to be Joe Biden Vice President pick. She's shamelessly campaigning for the spot while the country is struggling with a race war, record unemployment, and a global health crisis. More than 100 liberal activists and celebrities sent a letter to Joe Biden, urging him to choose Warren as his VP. They argued that she would be the best running mate pick to unite the party.
Here are some of the nearly dozen candidates who are likely under consideration, as former Vice President Joe Biden faces fresh calls to choose a black woman as his running mate. Lisa Bernhard reports.
Joe Biden has started the vetting process to choose a running mate for the Democratic ticket. Reuters reports the process expected to wrap up by July. Who are some of the names on the list? Senator Kamala Harris Senator Amy Klobuchar Michigan Governor Gretchen Whitmer Senator Elizabeth Warren Former Georgia House Minority Leader Stacey Abrams
During the primary Elizabeth Warren and Joe Biden fought over "Medicare for All." Biden was against it while Warren was "all-in" for it. She even told Biden that if he was against it he was "running in the wrong presidential primary.” Now, according to Politico, Warren is running for Vice President and she's singing a different tune about "Medicare for All." In a speech this week at the University of Chicago’s Institute of Politics she said it was not the right time for Medicare for All.
Sen. Bernie Sanders and three other Democrats are pushing to protect wages and insurance benefits for working Americans. The other Democrats are senators Mark Warner, Doug Jones and Richard Blumenthal. Their bill would cover up to $90,000 in wages and health insurance benefits for workers. The program would expire at the end of the year. CoronaVirus has led to massive layoffs, which have hurt the economy.
Treasury Secretary Steve Mnuchin and Federal Reserve Chairman Jerome Powell were in the hot seat Tuesday as they faced senators for the first time in a required update on the financial response to the coronavirus pandemic. Conway G. Gittens has more on the testy exchange.