The news of Jeff Bezos’s phone getting hacked spread like wildfire on a global scale. It seems as if many more problems are waiting for the world’s richest man apart from his hacked Whatsapp account.
Amazon () is experiencing a host of calls from both Republicans and Democrats for more stringent management of the company and possibly an antitrust inquiry.
The organization is entangled in a legal fight against the United States after the Trump government announced over Amazon Web Services for a $10 billion cloud computing contract called JEDI.
A later-than-usual Thanksgiving reduced Amazon’s holiday season. It is supposed to post almost lackluster fourth-quarter earnings growth.
Wall Street critics assume Amazon’s sales to have grown 17% last quarter, and that would be better for most of the companies, but far less than the 25% average increase Amazon posted over the past four years in the holiday quarter.
Notwithstanding Amazon’s strong online sales during the holidays, some critics continue to remain concerned that the overall quarter might have been more volatile than usual. Profit increase from Amazon’s massive cloud operation has also slowed.
Microsoft’s success in achieving the JEDI agreement puts the organization in the catbird’s situation to get more of these complicated workloads in the future.
The American labor market is expanding at an enormous level as it is adding hundreds of thousands of new jobs each month. Other signs are positive too. The number of people registering for unemployment perks remains historically low, along with the employment rate.
But economic growth in the United States is supposed to reduce in 2020 matched with last year, and that somewhat weaker forecast is beginning to serve through into hiring expectations.
AS per the surveys conducted, over 51% of the enterprises prepare to employ new workers this year. The study was conducted by Challenger, Gray & Christmas, an outplacement firm. That is down from 55% that stated at the end of 2018 they would be adding heads in 2019.
Although that is far from terrible, it is a warning that businesses are less hopeful about the economy this year. More than 18% of companies reported that economic concerns and soft demand would harm their ability to hire, up from 9% a year earlier.
As per the sources, Thursday was a good day for proponents of Wall Street reform.
Goldman Sachs CEO David Solomon declared that the company would not take any business public unless they had at least one woman on the board.
Later Thursday, the US Office of the Comptroller of the Currency penalized eight former Wells Fargo officials, a total of nearly $60 million in association with the bank’s accounts and sales opprobrium. Former CEO John Stumpf admitted to a lifetime ban from the banking business and a $17.5 million penalty for his part in the wrongdoing.
Attorneys for bank reform, most notably Democratic presidential candidate and US Senator Elizabeth Warren, have long attempted penalty for Wells Fargo officials and for bank management to be more whole.