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Tag: Amazon (page 1 of 9)

Amazon, Microsoft aims to participate in PM’s Agri project to access data

Amazon, Microsoft, Cisco, and Jio are a few of the tech giants aiming to work with the Indian government in its Digital Agriculture project which will technologically transform the sector in the country. Under the project, the government will give access to Agro data collected since 2014, to tech giants in hopes that the private sector will boost agro yields with technology. The agricultural sector employs over half of India’s 1.3B population.

Source: Live Mint

Big Cloud services could face resilience testing, says Bank of England

The Bank of England has said that tech giants like Google, Amazon, providing cloud services to British banks may have to comply with minimum resilience standards. Many European and US regulators are also worried about the bank’s reliance on a handful of tech companies for cloud, and how much of an impact an outage could have on financial stability. Resilience testing is being suggested as a solution for the problem.

Source: The Hindu

Gujarat state signs MoU with Amazon, faces criticism from CAIT

Amazon said that it has signed a Memorandum of Understanding with Gujarat Industries and Mines Department, that will help drive e-commerce exports from the state. However, the Confederation of All India Traders (CAIT) criticised the govt for the move, alleging that Amazon indulges in anti-competitive practices. The MoU enables Amazon to sell Made in India products abroad in over 200 territories.

Source:  Business Standard

Amazon CEO announces 55,000 new tech jobs

Amazon CEO Andy Jassy has told news agency Reuters that the tech giant is planning to hire 55,000 employees globally. In the first interview since his appointment as CEO, Jassy said that the company needed more firepower to match demands. Over 40,000 of the new jobs will be in the US, while the rest will be in India, Germany, and Japan. The positions to be available are in engineering, research science, and robotics roles.

Source: Times of India

Amazon banning rule-breaking Chinese sellers

Amazon on Monday continued its crackdown on sellers who violated the platform rules. Using fake reviews and incentives to get positive reviews, the sellers were exploiting the algorithm until Amazon toughened their stance. If caught, the seller accounts were suspended, their goods withheld and deposits were frozen by Amazon. Hundreds of Chinese sellers had already been suspended, as of early July.

Source: Techcrunch

Catamaran, Amazon joint venture to end

Prione Business Services, in which Catamaran has a 76% stake, and Amazon will not continue their seven-year-long JV after it comes to an end in May next year. The two partners, in a statement, announced they have mutually decided to not continue their JV beyond the end of this current term. The announcement comes hours after the Supreme Court refused to halt the Antitrust probes against Amazon and Flipkart.

Supreme Court of India says Amazon, Walmart’s Flipkart must face antitrust probe

In a blow to the e-comm giants, SC on Monday ruled that Amazon and Flipkart must face antitrust probes against them. The Competition Commission of India ordered the probes last year for allegedly promoting select sellers on their platforms. The companies deny any wrongdoing and said the CCI did not have enough evidence to pursue the matter. However, both the companies agreed to comply with the CCI investigation after SC’s ruling.

Big win for Amazon as Supreme Court of India stalls Future-Reliance deal

The Supreme Court of India validated the judgment by Singapore Arbitrator-that had stalled the deal between Future and Reliance group, after the two-judge bench finds merit in Amazon’s objection applicable in India. Amazon had accused Future of violating its pre-existing contracts, while the latter has denied any transgressions. Shares of Reliance and Future dipped by 1.3% and 6% respectively. This tussle could reshape India’s trillion-dollar retail market.

Cloud infrastructure market grows 39% in Q2 to reach $42B

The cloud infrastructure market rose by 39% in Q2 to reach $42 bn, up to $2 bn from the previous quarter. Amazon (37%) led the market, followed by Microsoft (20%) and Google (10%). Analysts predict that when organisations migrate workloads to the cloud, there will be even greater growth. Smaller businesses are expected to increase even more in the future years. The potential for continued expansion, particularly outside of the US, remains considerable.