Money
Jeff Bezos accused of ‘lying’ to Congress
Executives at Amazon, including the company’s founder Jeff Bezos, may have misled or lied to Congress about the firm’s business practices
According to top US lawmakers, the eCommerce giant executives may have forged the company’s business practices after presenting them to Congress. The members of the House Judiciary Committee now say they are considering referring Amazon “for criminal investigation”.
The claims follow an investigation by Reuters that stated Amazon copied products and rigged its search results in India to boost sales of its own brands .
Amazon strongly denies the allegations.
“Amazon and its executives did not mislead the committee, and we have denied and sought to correct the record on the inaccurate media articles in question,”
a spokesperson said.
On Monday, five members of the US House Judiciary Committee wrote to Amazon boss Andy Jassy, who took the top job from Jeff Bezos in July.
The lawmakers said “credible reporting” by Reuters and recent articles in other news outlets “directly contradicts the sworn testimony and representations of Amazon’s top executives – including former CEO Jeffrey Bezos”.
Investigations continue into Amazon
Since 2019, the House Judiciary Committee has been investigating competition in digital markets, including how Amazon uses third party seller data from its platform.
In sworn testimony before the Judiciary Committee’s anti-trust subcommittee in 2020, Jeff Bezos stated that Amazon “forbids” employees using data on individual sellers to benefit Amazon’s own-brand product lines.
Money
Australia’s inflation report and Nvidia earnings impact explained
Australia’s inflation report sparks market shifts, influencing interest rates, the Aussie dollar, and investor sentiment amid Nvidia’s earnings.
Australia’s inflation report sparks market shifts, influencing interest rates, the Aussie dollar, and investor sentiment amid Nvidia’s earnings.
Australia’s latest inflation report is creating waves across the market, with questions about interest rates, the strong performance of the Aussie dollar, and the uneven nature of the stock market rally. Investors are watching closely as changes in carry trade risks this month add another layer of complexity.
David Scutt from StoneX discusses what these shifts mean for trading strategies and the broader economic outlook. He provides insight into how underlying factors are shaping investor confidence and market dynamics.
On the tech side, Nvidia’s upcoming earnings are expected to influence AI development and the broader tech sector. Coupled with trends in SaaS and bitcoin price action, these movements are signalling how investor sentiment is evolving in a fast-changing landscape.
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#AustraliaEconomy #InflationReport #AussieDollar #NvidiaEarnings #AIInvesting #StockMarketNews #BitcoinTrends #SaaSInsights
Money
U.S. stocks rally as AMD, Home Depot, and AI software lead gains
U.S. equities rose as AI disruption fears eased, with Home Depot, AMD, and DocuSign driving tech stock gains.
U.S. equities rose as AI disruption fears eased, with Home Depot, AMD, and DocuSign driving tech stock gains.
U.S. tech stocks surged as investors’ fears over AI disruption eased. Advanced Micro Devices jumped 9% after Meta announced a multiyear deal to deploy AMD’s graphics processing units for AI data centres. The move highlights growing corporate confidence in AI infrastructure investments.
DocuSign also rose 3% following Anthropic’s confirmation that Claude Cowork can integrate with DocuSign, Google Drive, and Gmail, signalling stronger adoption of AI tools across industries.
The iShares Expanded Tech-Software Sector ETF climbed 2% despite remaining over 30% below its 52-week high, showing tech stocks are recovering but still have room to run.
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Money
Stocks tumble amid AI concerns and Trump tariff update
Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.
Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.
Stocks plunged sharply as concerns over artificial intelligence and trade tensions rattled investors, sending the Dow down more than 800 points. Heavyweights like American Express, Goldman Sachs, and JPMorgan were key contributors to the drop.
Software companies were hit particularly hard after a report suggested AI could impact economic growth, triggering further losses across tech shares.
Trade-sensitive retailers including American Eagle Outfitters, Ralph Lauren, and Yeti Holdings also faced setbacks as market uncertainty spiked. Bonds, meanwhile, rallied as investors sought safety in a volatile market.
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