A class-action lawsuit has been filed accusing Amazon.com Inc of inflating ebook prices in collusion with some publishers. The class action lawsuit alleges that the e-commerce giant along with the five largest U.S. publishers, collectively called the ‘Big Five’, agreed to price restraints that cause consumers to overpay for eBooks purchased from them through a…
On Wednesday, hydrogen plane startup ZeroAvia stated it had secured $21.4 million in a funding round led by Bill Gates’ Breakthrough Energy Ventures to develop zero-emission commercial aircraft. The startup’s prototype hydrogen powered propeller plane has already completed 10 test flights. Its backers includes Amazon and energy giant Royal Dutch Shell. Hydrogen, which produces water…
According to sources familiar with the matter at hand, Amazon.com Inc is in talks to acquire podcast startup Wondery which has a valuation of more than $300 million. Sources have cautioned that negotiations are ongoing and there is no certainty that a deal will be struck. Last month, Bloomberg News had reported that both, Sony…
In a development that underscores cost cutting measures adopted by Amazon.com Inc, the e-commerce giant said it has shifted some computing power for its Alexa voice assistant to its own custom-designed chips, away from chips supplied by Nvidia Corp. When consumers ask devices equipped with Alexa, including Amazon’s Echo line of smart speakers, a question…
In a statement, electric vehicle startup Rivian said, it will begin taking pre-orders for its electric SUVs and pickup truck with deliveries scheduled for both in next year. The launch editions of the electric R1S SUV and the R1T pickup truck has been priced at $77,500 and $75,000 respectively, with both vehicles having a 300…
In a bid to offer faster deliveries, on Thursday, Amazon.com Inc stated, it has invested $100 million in opening new warehouses in Mexico, including its first shipping centers outside Mexico City. The new sites includes two fulfillment centers, with one located near the northern city of Monterrey and the other near the central city of Guadalajara,…
In a statement Tyler Technologies said, its network was hacked by a ransomware, a kind of computer virus through which hackers encrypts files and decrypt them once their payment demands are met. The hacker was able to gain access to its internal networks, but could not access to the systems it hosts for clients; incidentally,…
On Friday, in a statement Apple Inc said, it will launch its first online store in India on September 23; the date of the launch assumes significance and is strategic since it coincides with India’s festive season which routinely rakes in some of the biggest sales for retailers every year. Currently, Apple sells its products…
On Monday, in a statement Amazon.com Inc said, it is ramping up its recruitment drive and will be hiring 100,000 more workers – its fourth hiring spree, to keep pace with surging e-commerce demand. The hiring positions will be full time and part time and will be based in its home country as well as…
France has accused the United States of trying to undermine international negotiations on updating the cross-border taxation regime; Paris has urged the EU to prepare for an EU tax as a fallback option if negotiations fails. Nearly 140 countries are negotiating the first major rewrite of the international tax framework to account for the rise…
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