AMZN

Source: Business Insider

Summary List Placement British food delivery firm Deliveroo is set to go public next month in a highly anticipated listing on the London Stock Exchange. The company on Monday announced a price range of £3.90 to £4.60 per share, as it opened up for orders from investors. That pegs its valuation range from £7.6 billion to £8.8 billion ($10.5 billion to $12 billion). Nearly 400 million shares will be available to investors, in a trade potentially worth £1.5 billion to £1.8 billion ($2 billion to $2.5 billion). Of that, £1 billion ($1.4 billion) will go to Deliveroo, with the remainder going to the shareholders who will sell some of their holdings. Deliveroo’s prospectus, published on Monday , lists out the firm’s biggest shareholders who are set to get rich from its IPO. Insider has calculated the value of each big shareholder’s stake post-IPO on the assumption Deliveroo hits the top end of its price range, so our figures are approximate. Here’s who stands to get rich: Cofounder and CEO Will Shu: $726 million, plus $41 million from a share sale Will Shu is the CEO of Deliveroo, having cofounded the food-delivery firm in 2013 with his childhood friend Greg Orlowski.

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Source: Business Insider

Summary List Placement Costco recently launched an audiobook store and a free iOS and Android app to listen to purchases, Good EReader reported. So far the retailer appears to only be selling bundles of audiobooks grouped by author or genre, including books by Gillian Flynn, classics , and biographies of famous figures. Bundles range in price from about $5 to $50, although most are between $15 and $25. Read more: Amazon sends note to sellers signaling Prime Day will return to its normal mid-July date after COVID-19 delayed the event last year The app itself is free, but all book deals are exclusive to Costco members. The membership allows Costco to prices its books much lower than competitors; for example, a bundle of the first three “Outlander” books is $29.99 at Costco. The first book alone is $34.99 at Amazon’s Audible. Buyers also must live in the US, because Costco has not yet launched the store in Canada. The new perk comes as Costco is expected to raise membership prices for the first time in years, according to a Wells Fargo analyst.

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Source: ValueWalk

Amazon Inc (NASDAQ:AMZN) continues to face pressure from workers in Alabama, who are voting on whether to unionize. Meanwhile, employees are facing increased pressure from the e-commerce giant, which has been overwhelming them with anti-union material. Q4 2020 hedge fund letters, conferences and more Amazon employees want changes to working conditions According to Fox Business, […] The post Amazon workers fight to improve working conditions appeared first on ValueWalk .

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Source: New York Post

Yankees fans might now find it easier to cut the cord. The MLB team on Wednesday announced that its New York City fans will soon be able to watch 21 games on Amazon Prime without a cable subscription — marking the first time a package of baseball games has been available via a streaming-only service,…

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Source: Business Insider

Summary List Placement The leaders of Google, Facebook, and Twitter will face questioning on Thursday from US lawmakers over how misleading information spreads on their platforms. Google CEO Sundar Pichai, Facebook CEO Mark Zuckerberg, and Twitter CEO Jack Dorsey will be in attendance. The hearing will be held virtually and will be live-streamed on the Energy and Commerce Committee’s YouTube channel. Thursday’s hearing was scheduled following mounting public pressure on internet platforms to control the proliferation of misinformation pertaining to the COVID-19 pandemic and the 2020 presidential election. The companies have cracked down on former President Donald Trump as well — Twitter began adding fact-check labels to his tweets in May 2020, fueling an ongoing debate around alleged conservative discrimination online. In the testimonies that the CEOs plan to make on Thursday , all three executives plan to lay out the various ways that their companies have combated misinformation. Zuckerberg and Pichai also expressed a willingness to address Section 230 protections but pushed back on some of the proposed changes that have been floated.

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Source: Benzinga

Uber’s (NYSE: UBER ) decision on March 17 to reclassify approximately 70,000 Uber Rides drivers in the U.K. as “workers” — a step closer to what U.S. businesses would consider employees and away from the independent contractor category — was not unexpected, but it leaves plenty of unanswered questions for the rideshare community on both sides of the Atlantic. The decision by the global ride-hailing giant followed a February ruling by the U.K. Supreme Court upholding a lower court’s decision that said drivers were entitled to a minimum wage while working for Uber. The minimum wage in the U.K. is the equivalent of $12.22 per hour in the U.S. Writing for the Evening Standard in the U.K., Uber CEO Dara Khosrowshahi admitted that the decision to reclassify the workers was not an easy one for the company, which has built itself as a platform for drivers to work when they want and where they want. Read: California fines delivery service and Amazon $6.4M for wage theft “Our thinking on this issue has evolved over time, and I will be the first to admit that we’ve struggled to identify solutions that work for Uber and for those who earn on our platform,” he wrote on March 17. “Following last month’s U.K.

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Source: Business Insider

Summary List Placement In 2017, Crown Prince Mohammed bin Salman announced that a new city would be built from scratch in Saudi Arabia’s northwest deserts. Neom would be “a place for dreamers,” he said, adding the $500 billion city would run by artificial intelligence and be funded by the kingdom’s sovereign wealth fund. Early plans for the city imagined flying taxis, holographic teachers, and an artificial moon. But few concrete details emerged until this January, when Neom authorities announced “The Line,” a string of settlements connected by a vast subterranean transport system. Beating back doubts over funding and feasibility, work is moving ahead, as it is at several of the crown prince’s other pet projects . Last month James Bradley, Neom’s head of technology, told ZDNet he wanted to collect 90% of available data from residents and smart infrastructure. Existing smart cities use about 1% of such data, Bradley added, without providing specifics. Bradley’s interview is the first insight into how Neom will run.

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Source: Business Insider

Summary List Placement GameStop shares dropped early Wednesday after the video game retailer’s fourth-quarter earnings missed Wall Street’s estimates in the first financial report since the Reddit-driven rally two months ago. The company late Tuesday posted adjusted earnings of $1.34 per share, shy of the adjusted $1.35 per share average projected by analysts polled by Refinitiv. Revenue of $2.12 billion fell short of the $2.21 billion average projection. Shares of GameStop fell as much as 17% to $151.02 ahead of the opening bell then slightly pared the loss to 14%. Just after the report was released late Tuesday, the shares spiked up by nearly 8% before losing steam. Adjusted earnings from the retailer, which has been working on a “transformation” plan, rose from $1.27 per share a year ago. Revenue a year earlier was $2.19 billion. GameStop, whose shares were championed by retail investors active on Reddit’s Wall Street Bets community, named Jenna Owens as its new chief operating officer on Tuesday.

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Source: Forbes

After a devastating year for women-owned small businesses due to the pandemic, Amazon and Diane von Furstenberg have partnered for the second time to shine a spotlight on women-owned businesses on the platform in honor of Women’s History Month.

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