Core Points - Amazon has agreed to pay $309 million to settle a class action lawsuit regarding incorrect denial of refunds for product returns [1] - The lawsuit, filed in 2023, alleged that Amazon charged consumers for properly returned items or failed to provide timely refunds [2] - Amazon has also agreed to over $600 million in individual refunds and non-monetary relief to improve its return and refund practices [3] - The company denied any wrongdoing in the settlement [3] - An internal review in 2025 identified issues with a small subset of returns, leading to the issuance of refunds for those cases [4] - In a separate case, a federal judge rejected Amazon's attempt to dismiss a lawsuit regarding excessive pricing by merchants during the pandemic [5] - Additionally, Amazon agreed to a $2.5 billion settlement with the Federal Trade Commission over misleading practices related to its Prime program [6]

Asian currencies gained as the dollar sank to levels last seen four years ago as investors turned cautious toward the world's reserve currency amid unpredictable policymaking from Washington.The Malaysian ringgit, Thai baht and the South Korean won all appreciated in early Asian trading after the Bloomberg Dollar Spot Index slid to its lowest since February 2022 during the US session. The dollar steadied after its biggest fall since April. The greenback's decline had accelerated after President Donald Trump ...

Core Viewpoint - Amazon has acknowledged "organizational changes" within the company, indicating potential shifts in its internal structure [1] Group 1 - The notice regarding organizational changes was sent out to staff members, suggesting a significant update in the company's operations [1]

Core Viewpoint - Tesla is advancing into the humanoid robot market with its AI-controlled robot named Optimus, expected to be available for public purchase by the end of 2027, although past timelines from the CEO have been optimistic [1][2] Group 1: Product Overview - Optimus is designed to perform tasks that are boring or dangerous for humans, featuring two arms, two legs, and a head, but is not intended to fully replace humans [2] - The anticipated retail price for Optimus is between $20,000 and $30,000 [2] Group 2: Market Potential - The humanoid robot industry is projected to be worth $5 trillion by 2050, with over 1 billion autonomous machines expected to be in use by that time, according to analysts at Morgan Stanley [5] - Other companies, such as Hyundai and Amazon, are also investing in humanoid robots and autonomous machines, indicating a growing market [3] Group 3: Future Outlook - Elon Musk envisions a future where there could be one humanoid robot for every person on the planet, which he refers to as an "infinite money glitch" for Tesla [6] - The success of this technology may take time, but regular developmental progress with Optimus could bolster investor confidence by 2026 [7]

Core Insights - Amazon mistakenly notified many Amazon Web Services (AWS) employees about upcoming layoffs through a commiseration email and a team-wide meeting scheduled for Wednesday morning [1] Group 1 - The notification about layoffs was sent out to AWS employees, indicating potential job cuts within the company [1] - The communication was characterized as a mistake, suggesting a lack of coordination in the company's internal messaging [1] - The incident highlights the ongoing challenges within the tech industry, particularly regarding workforce management and communication strategies [1]

Core Viewpoint - Amazon's stock performance is showing positive trends, with upcoming earnings expected to reflect growth in both EPS and revenue, indicating a favorable outlook for the company. Group 1: Stock Performance - Amazon's stock increased by 2.63% to $244.68, outperforming the S&P 500's daily gain of 0.41% [1] - Over the past month, Amazon's shares gained 2.74%, lagging behind the Retail-Wholesale sector's 4.12% increase but outperforming the S&P 500's 0.38% gain [1] Group 2: Earnings Expectations - Amazon's earnings report is scheduled for February 5, 2026, with an anticipated EPS of $1.97, representing a 5.91% increase year-over-year [2] - Revenue is expected to reach $211.51 billion, reflecting a 12.63% rise compared to the same quarter last year [2] Group 3: Full-Year Estimates - Zacks Consensus Estimates project Amazon's full-year earnings at $7.17 per share and revenue at $714.98 billion, indicating a year-over-year earnings growth of 29.66% and no change in revenue [3] - Recent analyst estimate revisions suggest a positive outlook on Amazon's business health and profitability [3] Group 4: Valuation Metrics - Amazon has a Zacks Rank of 2 (Buy), with a Forward P/E ratio of 30.3, which is a premium compared to the industry average of 17.25 [5] - The PEG ratio for Amazon is currently 1.49, higher than the Internet - Commerce industry's average PEG ratio of 1.14 [6] Group 5: Industry Context - The Internet - Commerce industry, part of the Retail-Wholesale sector, has a Zacks Industry Rank of 188, placing it in the bottom 24% of over 250 industries [6] - The Zacks Industry Rank indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

>> THIS IS "BLOOMBERG BUSINESS WEEK DAILY" WEEK. REPORTING FROM THE MAGAZINE THAT HELPED GLOBAL LEADERS STAY AHEAD, WITH INSIGHT ON THE PEOPLE, COMPANIES AND TRENDS SHAPING TODAY’S COMPLEX ECONOMY, PLUS GLOBAL BUSINESS, FINANCE, AND TECH NEWS AS IT HAPPENS. "BLOOMBERG BUSINESS WEEK DAILY" WITH CAROL MASSAR AND TIM STENOVEC, LIVE ON BLOOMBERG RADIO, TELEVISION, YOUTUBE AND BLOOMBERG ORIGINALS.CAROL: GOOD AFTERNOON, EVERYBODY. YES INDEED, IT IS THE TUESDAY EDITION, OR THE PRE-FED DECISION, I SHOULD SAY, OF "B ...

On Monday, Amazon's chief merchant, John Farrell, announced in a LinkedIn post that he's leaving the company to "explore new challenges." Farrell oversaw buying for its Fresh division and joined Amazon in 2019 from British supermarket chain Tesco. Amazon is reshaping its grocery business as it continues its nearly two-decade effort to become a giant in the U.S. grocery market. In recent years, Amazon has expanded its selection of fresh food and grocery staples at same-day warehouses in the U.S., while testi ...

Core Viewpoint - Amazon has reached a settlement exceeding $1 billion to address claims regarding improper refunds for customer returns [1][2] Group 1: Settlement Details - The settlement includes over $600 million already distributed or soon to be paid in refunds to affected customers [1] - Amazon will contribute $309.5 million to a non-reversionary common fund for members of the class-action lawsuit [2] - The company has issued approximately $570 million in refunds, with about $34 million remaining to be refunded [2] Group 2: Non-Monetary Relief - Amazon has agreed to provide over $363 million in non-monetary relief to improve its return and refund processes [2] Group 3: Background of the Lawsuit - The lawsuit, initiated in 2023, claimed that Amazon caused "substantial unjustified monetary losses" for consumers who returned items but were still charged [3] Group 4: Company Response and Previous Settlements - Following an internal review in 2025, Amazon identified issues with a subset of returns where refunds were not properly issued [4] - Amazon previously settled a lawsuit with the FTC for $2.5 billion over allegations of misleading users regarding Prime subscriptions [4]

Core Insights - Amazon is closing all Amazon Go and Amazon Fresh locations to focus on grocery delivery, Whole Foods Market, and a new "supersized" store concept [1][2] - The company plans to convert some of the closed locations into Whole Foods Market stores [1][12] Store Operations - Amazon operates 57 Amazon Fresh stores and 15 Amazon Go stores, with the last day of operation set for February 1, except for California locations which will remain open longer [1][2] - The company has seen over 40% sales growth at Whole Foods Market since its acquisition in 2017, expanding to over 550 locations and planning to open more than 100 new stores in the coming years [3] Delivery Services - Amazon is currently delivering groceries to 5,000 US cities and towns, with plans to expand same-day delivery of fresh groceries based on strong customer feedback [4] New Store Concepts - The company is experimenting with new physical store formats, including a "new supercenter" concept that will offer a broad selection of fresh groceries, household essentials, and general merchandise [8] - Amazon is also testing a new in-store format called Amazon Grocery, launched alongside Whole Foods Market in Chicago, allowing customers to shop for groceries and household essentials [9] Technology Integration - Amazon's "just walk out" technology, developed through its Amazon Go locations, is being expanded to its own operations, with over 40 North American fulfillment centers using it in breakrooms [10][11]