Business
Amazon billionaire in the hot seat – The Australian Financial Review
In the spotlight over antitrust concerns, the world’s richest man is stepping up his charm offensive in Washington DC.
Documents released by congressional investigators appeared to show how Amazon executives hatched aggressive strategies to price out, and then buy up, competitors.
For years, Bezos convinced investors to forgo profits in favour of long-term investments in logistics, robotics and last-mile delivery. That has paid off in the pandemic, as locked-down shoppers drove sales up 40 per cent year on year. On Thursday, Amazon revealed record quarterly profits of $5.2 billion, despite $4 billion in costs r…
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