Latest news with #AmazonInc
Reuters
2 days ago
- Business
- Reuters
Brazilian prosecutors seek to block $180 million carbon credit deal
SAO PAULO, June 3 - Brazilian prosecutors are seeking to annul a $180 million carbon offset scheme to support the conservation of the Amazon rainforest that the state of Para signed last year with a coalition of major corporations and wealthy governments, according to a complaint filed on Tuesday. The lawsuit is a powerful blow to the government of Para, the host of the next global climate summit, known as COP30, as well as the carbon credit industry as a whole, which had been trying to reposition itself after years of facing accusations of abuse and fraud. The state of Para holds one of the most vulnerable sections of the Amazon rainforest, the world's largest. In the filing, the prosecutors argued that the state government had failed to inform and consult the communities that would be impacted by the deal. They also said Brazilian law doesn't allow for the pre-sale of carbon credits, which in this case represent the carbon locked away in trees that the project says it will keep from being knocked down. The state, the prosecutors wrote, aimed to approve its carbon credit plan 'before COP 30, which has generated considerable pressure on Indigenous peoples and traditional communities in Para.' Inc (AMZN.O), opens new tab and at least five other companies had agreed to purchase the credits through the LEAF Coalition forest conservation initiative, which the e-commerce giant helped to found in 2021 with a group of other firms and governments, including the United States and United Kingdom. The Para government and Emergent, a non-profit that coordinates the LEAF Coalition, didn't immediately reply to requests for comment. The project was one of the world's first carbon credit schemes to be called jurisdictional, because they cover whole states or countries. The new design was meant to address concerns about private projects partly by making the accounting of credits easier. It aimed to sell up to 12 million credits at $15 each related to the carbon locked away in trees that it would protect from deforestation.
Bloomberg
29-05-2025
- Business
- Bloomberg
Amazon-Owned Blink Debuts Doorbell Cam With Wider View, Person Detection
Blink, the Inc. -owned hardware brand known for its connected doorbells and video cameras, introduced new devices on Thursday, the latest entries in a saturated market for smart-home gadgets. Compared with its predecessor, the newest Blink Video Doorbell provides a more expansive 150-degree 'head-to-toe' field of view that should give a fuller preview of guests and package deliveries, according to the company. The device runs on three standard AA batteries and is rated for as much as two years of battery life, it added.
Bloomberg
21-05-2025
- Business
- Bloomberg
Nike Returns to Amazon's Online Store as Direct Vendor
By and Spencer Soper Save Nike Inc. is returning to Inc.'s online store after leaving it in 2019, part of efforts by the world's largest sportswear company to renew growth and mend ties with key wholesale partners. Shares of Nike jumped as much as 4.2% in late trading in New York, following an earlier report from the Information. Amazon stock was little changed.
Bloomberg
21-05-2025
- Business
- Bloomberg
Amazon CEO Says Customer Demand, Prices Steady Despite Tariffs
Inc. Chief Executive Officer Andy Jassy said the online retailer hasn't seen any meaningful reduction in consumer spending or an increase in prices as a result of tariffs introduced by US President Donald Trump earlier this year. 'We've not seen any attenuation of demand at this point,' Jassy said Wednesday during Amazon's annual shareholder meeting when asked about tariffs. He also said the company hasn't seen any significant increase in average prices.
Bloomberg
20-05-2025
- Business
- Bloomberg
Amazon Gives Refunds for Years-Old Returns
Inc. customers are suddenly getting refunds for products they purchased and returned as far back as 2018, along with apologies from the online retailer after it discovered 'unresolved' issues. The precise scope of the refunds issued isn't clear but executives hinted it may be hundreds of millions of dollars. Chief Financial Officer Brian Olsavsky, speaking on a conference call after the company released earnings May 1, said Amazon took a one-time charge of approximately $1.1 billion in the first quarter related in part to 'some historical customer returns' that were unresolved. The charge was also attributable to the cost of stockpiling inventory in anticipation of tariffs.
