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Amazon operates a global e-commerce platform with a large online marketplace that connects consumers to both direct sales and third-party sellers across many product categories. It earns money from product sales and marketplace fees, Amazon Prime subscriptions, and AWS cloud services, plus a large Amazon Associates affiliate network. The platform combines fast shipping, streaming, cloud computing, and digital services to reach customers across numerous countries. Its goal is to be the world’s most customer-centric company by offering convenient access to a wide range of products and services.
Company Size
10,001+
Company Stage
IPO
Headquarters
Seattle, Washington
Founded
1994
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Amazon has raised its minimum wage for qualifying full-time US operations workers to $20 per hour from $19, according to Reuters. The increase represents an extra $2,080 annually for employees working a 40-hour week, raising base pay from $39,520 to $41,600. The company also announced it will provide access to lower-cost banking services. Amazon reported $200.6 billion in second-quarter revenue and $27.5 billion in operating income. Shares fell approximately 0.5% following the announcement. The stock is trading near GuruFocus' estimate of fair value, sitting just 0.55% below its $248.57 GF Value. Whilst the wage increase could pressure fulfilment costs across Amazon's vast logistics network, analysts note that lower employee turnover may offset some expenses through reduced recruiting and training costs.
Amazon plans to add over 1,000 same-day fulfilment centres across the US over the next five years, according to a Business Insider report. The initiative, codenamed Project Mercury, would represent a tenfold increase from the company's current 85 locations. The expansion aims to position same-day facilities within 10 miles of 80% of Amazon Prime customers by 2031, up from the current 90-minute drive radius. The move targets physical retailers like Walmart, which operates stores within 10 miles of roughly 90% of the US population. Amazon expects to spend approximately $7 billion on the network expansion through 2027. A company spokesperson noted the plans remain preliminary and could change significantly.
Amazon has launched Alexa+ in India with Hindi support, enabling the conversational assistant to hold longer, context-aware conversations. The service is available in Early Access for all customers in both Hindi and English, with users able to switch languages mid-sentence. After testing, Alexa+ will be free for Prime members, whilst non-Prime customers will pay ₹2,000 monthly. The upgraded assistant features a more expressive voice and handles complex tasks including grocery ordering through Amazon Now and smart home device control. Alexa+ integrates with Indian services including Swiggy, Zomato's District, TripAdvisor, MakeMyTrip, EazyDiner, Amazon Music, and JioSaavn. Amazon first introduced Alexa in India in 2017, adding Hindi support in 2019 to reach the country's 600 million Hindi speakers. The company reports 20% year-on-year growth in smart home devices.
Peel Ports appoints Jamie Strain to lead Scottish operations. September 16, 2026 Peel Ports Group has appointed Jamie Strain as Port Director for its Scottish operations. Strain will lead the Peel Ports Clydeport business, overseeing the Port of Greenock, Hunterston PARC, King George V Dock in Glasgow and Inchgreen Marine Park. He replaces Jim McSporran, who is set to retire later this month. Strain joins from Amazon. Strain joins Peel Ports after serving as Site Lead General Manager at one of Amazon's largest distribution centres in the UK. The Dunfermline facility employs more than 3,000 people and is one of Amazon's major logistics operations in the country. Before joining Amazon, Strain spent 13 years with Tesco. He later held several senior operational positions at Amazon before taking responsibility for the Dunfermline site. "I'm proud to be joining Peel Ports and to have the opportunity to lead the Peel Ports Clydeport business at such an exciting time," said Strain. He added that he plans to use his experience managing large teams and complex operations to support the development of the Scottish business. Peel Ports continues Scottish investment. The appointment comes as Peel Ports continues to invest across its Scottish operations. At Hunterston PARC in Ayrshire, the company is progressing with the redevelopment of the site. Peel Ports said the project is expected to attract £3.5 billion in investment and create more than 5,000 jobs. The company has also strengthened container handling capacity at the Port of Greenock. Two ship-to-shore cranes, representing an investment of £25 million, have arrived at the port over the past two years. Meanwhile, Peel Ports invested £3 million at King George V Dock in Glasgow last year to increase its capacity to handle large wind turbine components. David Huck, Chief Operating Officer at Peel Ports Group, said Strain's operational experience and previous perspective as a cargo owner would support the company's plans to grow its Scottish business.
Amazon is holding Prime Big Deal Days on 6 and 7 October, testing holiday spending ahead of the crucial fourth quarter. Prime members will access exclusive deals across more than 35 categories, with new offers dropping three times daily. The event comes as Amazon's North American business accelerates. Second-quarter revenue climbed 20% to $200.6 billion, whilst North America sales rose 16% to $116.2 billion. Operating income increased 43% to $27.5 billion. Amazon says more than one million products will be offered at their lowest prices of the year so far. The 48-hour event pulls holiday demand into early October, helping Amazon secure consumer spending before Black Friday whilst reinforcing Prime membership value.