Amazon projects profit that underwhelms on expense of AI race
Operating profit will be $US15.5 billion ($24.1 billion) to $US20.5 billion in the period ending in September, compared with an average estimate of $US19.4 billion. Sales will be $US174 billion to $US179.5 billion, the company said in a statement. Analysts, on average, expected $US173.2 billion.
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Sydney Morning Herald
an hour ago
- Sydney Morning Herald
The cost of the commute to work adds up
Working from home, which began as a crisis response to the COVID-19 pandemic, has evolved into a lasting shift in workplace norms. Hybrid work is putting cash back into household budgets. But not all employers are keen. Some are taking a hard line on workplace flexibility, forcing some workers to decide whether their job is really worth it. So far, Amazon, Tabcorp and Dell are among large employers to issue strict return-to-office mandates, requiring staff this year to be in the office five days a week. But it's not cheap to get to work. The fluctuating cost of petrol, train and tram fares, tolls, parking costs, coffee and lunch adds up. Train fares in Sydney vary based on distance and the time of day. A single trip can range from $4.20 to $10.33. The daily cap for full-fare rides on Melbourne's public transport network is $11 a day. The average person spends about $99 a week on commuting costs, according to Finder, equivalent to $4367 a year. This includes $42 for fuel. Toll roads, parking and other costs such as car insurance are excluded. Public transport costs are about $39 a week on average. Not adding up Workers are feeling the pinch because their wages aren't keeping up with rising costs, leaving them worse off than they were a year ago. Wages increased 3.2 per cent over the past year, but it might not be enough to outpace the cost of living. The Consumer Price Index rose 2.4 per cent in the 12 months to February 2025. Everyday essentials like groceries, utilities, rent and fuel outstripped wage gains in many regions. A worker earning $80,000 a year receiving a 3.2 per cent raise will gain about $2560 a year. However, they are likely to be about $3000 worse off when rising costs across groceries, rent, fuel and other essentials are accounted for. Loading Working from home also allows workers to save money by having more time to handle household tasks, gardening, errands and childcare, and preparing meals at home rather than relying on takeaways. If you're commuting to the office, here are some ways to cut costs. Concessions: Check to see if you're eligible for any public transport concessions. Carpool: Find someone in your local area travelling at the same time each day and take it in turns to do the driving, halving your petrol costs. Carshare: If you don't use your car much beyond commuting, it could be worth considering carsharing. You can book a car by the day and let the owner pay maintenance and registration costs. Travel another way: Add it up. If it's cheaper to take public transport, walk or cycle to work, commit to travelling a cheaper way at least one or two days a week. Try a co-working space: Check if there is a co-working space in your suburb and ask your employer if you can work from there instead, which could halve the cost of your commute. Find cheaper parking: It might be convenient to park in the multi-storey carpark but look for cheaper or free parking spots further away and walk to the office from there.
The Age
an hour ago
- The Age
The cost of the commute to work adds up
Working from home, which began as a crisis response to the COVID-19 pandemic, has evolved into a lasting shift in workplace norms. Hybrid work is putting cash back into household budgets. But not all employers are keen. Some are taking a hard line on workplace flexibility, forcing some workers to decide whether their job is really worth it. So far, Amazon, Tabcorp and Dell are among large employers to issue strict return-to-office mandates, requiring staff this year to be in the office five days a week. But it's not cheap to get to work. The fluctuating cost of petrol, train and tram fares, tolls, parking costs, coffee and lunch adds up. Train fares in Sydney vary based on distance and the time of day. A single trip can range from $4.20 to $10.33. The daily cap for full-fare rides on Melbourne's public transport network is $11 a day. The average person spends about $99 a week on commuting costs, according to Finder, equivalent to $4367 a year. This includes $42 for fuel. Toll roads, parking and other costs such as car insurance are excluded. Public transport costs are about $39 a week on average. Not adding up Workers are feeling the pinch because their wages aren't keeping up with rising costs, leaving them worse off than they were a year ago. Wages increased 3.2 per cent over the past year, but it might not be enough to outpace the cost of living. The Consumer Price Index rose 2.4 per cent in the 12 months to February 2025. Everyday essentials like groceries, utilities, rent and fuel outstripped wage gains in many regions. A worker earning $80,000 a year receiving a 3.2 per cent raise will gain about $2560 a year. However, they are likely to be about $3000 worse off when rising costs across groceries, rent, fuel and other essentials are accounted for. Loading Working from home also allows workers to save money by having more time to handle household tasks, gardening, errands and childcare, and preparing meals at home rather than relying on takeaways. If you're commuting to the office, here are some ways to cut costs. Concessions: Check to see if you're eligible for any public transport concessions. Carpool: Find someone in your local area travelling at the same time each day and take it in turns to do the driving, halving your petrol costs. Carshare: If you don't use your car much beyond commuting, it could be worth considering carsharing. You can book a car by the day and let the owner pay maintenance and registration costs. Travel another way: Add it up. If it's cheaper to take public transport, walk or cycle to work, commit to travelling a cheaper way at least one or two days a week. Try a co-working space: Check if there is a co-working space in your suburb and ask your employer if you can work from there instead, which could halve the cost of your commute. Find cheaper parking: It might be convenient to park in the multi-storey carpark but look for cheaper or free parking spots further away and walk to the office from there.
Perth Now
2 days ago
- Perth Now
Wall St selloff sparked by Trump tariffs
Wall St plunged after President Donald Trump announced a slew of steep new tariffs. (EPA PHOTO) Wall St plunged after President Donald Trump announced a slew of steep new tariffs. (EPA PHOTO) Credit: AAP Wall Street's main indexes declined sharply as new US tariffs on dozens of trading partners and Amazon's unimpressive earnings weighed on sentiment, while a weaker payrolls report added to risk aversion. Hours ahead of the tariff deadline, President Donald Trump signed an executive order on Friday imposing duties on US imports from countries including Canada, Brazil, India and Taiwan. Data showed US job growth slowed more than expected in July while the prior month's data was revised sharply lower, pointing to a sharp moderation in the labour market. "This was a pretty disappointing report ... markets are getting a little bit more worried about the state of the labour market in the aftermath of today's report," said BeiChen Lin, senior investment strategist at Russell Investments. Following the data, traders have raised their bets for a September interest rate cut to 81.9 per cent, according to CME's FedWatch tool. In early trading on Friday, the Dow Jones Industrial Average fell 633.77 points, or 1.44 per cent, to 43,491.55, the S&P 500 lost 107.59 points, or 1.70 per cent, to 6,231.80 and the Nasdaq Composite lost 483.70 points, or 2.29 per cent, to 20,638.74. The S&P 500 and the Nasdaq fell to a more than two-month low each, while the Dow slipped to an over one-month low. The CBOE Volatility index, also known as Wall Street's fear gauge, jumped to a near six-week high and was last up 20.66 points. Eight of the 11 S&P 500 sector indexes declined, led by consumer discretionary, which was down 3.4 per cent as Amazon slid 6.7 per cent. The company's growth in its cloud computing unit failed to impress investors, in contrast to robust gains reported by AI-focused rivals Alphabet and Microsoft. Technology and communication services indexes fell 1.9 per cent and 1.5 per cent, respectively. Apple posted its current-quarter revenue forecast well above Wall Street estimates, but CEO Tim Cook warned US tariffs would add $US1.1 billion ($A1.7 billion) in costs over the period. The stock edged 0.2 per cent lower. Most major megacap stocks fell, with Nvidia down 3.1 per cent, Tesla falling 2.6 per cent, Meta Platforms down 2.5 per cent, and Alphabet losing 1.4 per cent. Financials fell 2.2 per cent, with Coinbase Global falling 16.2 per cent after the crypto exchange reported a drop in adjusted profit for the second quarter. Industrial tools supplier WW Grainger dropped 9.2 per cent after slashing its forecast for annual profit. Trump said on Friday the Federal Reserve's board should assume control if the central bank's chair, Jerome Powell, continues to refuse to lower interest rates. Powell, despite pressure from Trump to cut rates, has indicated the central bank was in no rush to do so. The day's sharp losses put the S&P 500 and the Nasdaq on track for weekly losses, offsetting the week's earlier gains on signs of economic resilience, AI boost, and key US trade agreements with top partners such as the European Union and South Korea. Declining issues outnumbered advancers by a 2.93-to-1 ratio on the NYSE, and by a 4.43-to-1 ratio on the Nasdaq. The S&P 500 posted six new 52-week highs and 18 new lows, while the Nasdaq Composite recorded 8 new highs and 131 new lows.
