Tag: Amazon

May 11, 2023

As more companies boost customer convenience by adding self-checkout or allowing mobile pay, Amazon One takes it further by allowing customers to buy their items without taking out a wallet or phone. Users can complete most of their sign-up ahead […]

January 18, 2022

Amazon backed off a threat to stop accepting Visa credit cards that originate in the U.K., easing tensions that had mounted last year as the e-commerce giant protested the card network’s fees around the world. Based on statements from Amazon […]

December 8, 2021

The Consumer Financial Protection Bureau (CFPB) needs to protect consumers from big technology companies eager to make inroads in the payments processing business, according to comments filed this week with the agency by two bank industry trade groups. The American […]

November 30, 2021

The spat between retail juggernaut Amazon and card giant Visa over credit card fees levied in the U.K. may have ramifications for rival credit card companies such as Mastercard, American Express, and Discover, according to analysts. At issue in the […]

June 9, 2021

American Express and Synchrony are among the bidders looking to replace JPMorgan Chase as the issuer of Amazon’s co-branded credit card, Bloomberg and Reuters reported Tuesday. JPMorgan could get a 15% premium on top of the balance — which is […]

April 30, 2021

Amazon — The e-commerce giant saw its shares gain 1% in midday trading after it reported a record first-quarter profit. The Seattle-based firm said profits more than tripled to $8.1 billion and January-to-March sales soared 44% to $108 billion. The […]

February 3, 2021

Spotify (SPOT) – The music streaming service reported a wider-than-expected quarterly loss, although its revenue did beat analyst forecasts. The number of premium subscribers jumped by 24% to a better-than-expected 155 million. The stock fell 7% in premarket trading as […]

May 1, 2020

Exxon Mobil (XOM) – Exxon posted a GAAP loss of 14 cents per share, and a non-GAAP profit of 53 cents per share. The consensus estimate was for a breakeven quarter. The company announced a 30% cut in capital spending […]

February 4, 2020

Sources also say the talks and eventual deal close will likely involve attaching Goldman’s brand to Amazon’s lending product in some way. The global marketplace has lent to its small business merchants for the last eight years through ‘Amazon Lending’, […]

November 6, 2019

The bank has spent the last year developing an e-wallet tailored for companies such as Airbnb, Lyft Inc. and Amazon.com Inc. that it says could help online marketplaces and companies in the gig economy defend against getting cut out of […]

July 24, 2019

A day before Amazon’s second-quarter earnings release, Credit Suisse lowered its earnings estimate because of the e-commerce giant’s roll-out of one-day prime. The firm lowered Amazon’s full-year 2019 earnings per share estimate to $38.87 from the previous estimate of $41.14, […]

July 17, 2019

Bank of America – The bank reported quarterly profit of 74 cents per share, beating consensus by 3 cents a share. Revenue was just above forecasts, with the bank’s results helped in part by stronger retail banking performance. Net interest […]

June 10, 2019

Amazon’s newest credit card is designed to appeal to consumers who are looking to improve their credit score. It comes with an unusual structure — and some major caveats. The Amazon Credit Builder card AMZN, +3.38% will function as a […]

September 18, 2018

Banks, you’ve been warned. About two-thirds of Amazon Prime members would try a free online bank account from the e-commerce giant, according to a report from consultant Bain & Co. That’s considerably higher than the percentage of regular Amazon customers […]

March 29, 2018

President Donald Trump on Thursday lashed out at online retail giant Amazon, complaining that they are putting thousands of retailers out of business and pay “little or no” state and local taxes. “I have stated my concerns with Amazon long […]

March 9, 2018

Bain and Co, estimates that a banking service from Amazon could swell to more than 70 million US customer accounts within five years, equalling the size of the country’s third largest bank, Wells Fargo. The analysis by the firm’s banking […]

March 5, 2018

Move over, tech. Wall Street has a new favorite sector, according to fund holdings data compiled by Bank of America Merrill Lynch: consumer discretionary. The sector overtook tech as the most crowded last month, the data shows. Funds increased their […]

December 14, 2017

EXCLUSIVE—Should banks acquire or partner with smaller, more agile fintechs? Well, that depends if the end goal of the bank is to further financial innovation, Derrick Walton, EVP of global financial networks for Hyperwallet, told Bank Innovation. “There’s a difference […]

September 20, 2017

Mark Rodrigues, senior adviser at New York-based M&A advisory firm Arma Partners, analyses the prospect of Google, Amazon, and other large-cap tech players making acquisitions to establish themselves as dominant forces within the financial services sector The paper asks: “What […]

August 1, 2017

Could Amazon be a threat to banks? The online retailer announced in June that its Amazon Lending program, a small-business loan service that the company began offering in 2011, had surpassed $3 billion in loans globally, to more than 20,000 […]