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
Tech stocks slide as investors rotate into small-cap and value plays
Nasdaq drops 1.84% amid turbulent week; investors pivot to cyclical and value sectors from high-growth tech.
Nasdaq drops 1.84% amid turbulent week; investors pivot to cyclical and value sectors from high-growth tech.
U.S. equity markets wrapped up a turbulent week with mixed results. The Nasdaq Composite fell 1.84%, marking its worst week for large-cap technology stocks since November, while the S&P 500 remained largely unchanged. Investors are weighing concerns about artificial intelligence and potential overinvestment in high-growth areas.
Meanwhile, smaller-cap and value-oriented stocks continued to add to their year-to-date gains. Market participants rotated into cyclical sectors that had lagged, reflecting a shift in investor sentiment and appetite for risk outside the traditional tech heavyweights.
Analysts say this rotation highlights the broader market’s evolving dynamics, as growth concerns collide with opportunities in underappreciated areas. Stay tuned for further developments as the market digests these trends.
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Money
U.S. markets mixed as tech slumps and Fed moves spark uncertainty
Mixed US equity results as tech stocks drop; market uncertainty rises amid Fed Chair change. Join Steve Gopalan’s insights on FX trends.
Mixed US equity results as tech stocks drop; market uncertainty rises amid Fed Chair change. Join Steve Gopalan’s insights on FX trends.
US equity markets posted mixed results as technology stocks fell, reflecting growing concerns about AI disruptions. The delay of key labour data has added to market uncertainty, especially with President Trump’s recent appointment of Kevin Warsh as Fed Chair.
Steve Gopalan from SkandaFX joins us to discuss how these shifts could influence monetary policy, corporate FX strategies, and the broader financial landscape.
We also dive into FX trends, euro-area inflation signals, and Australian dollar movements, exploring what these developments mean for investors worldwide.
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#USMarkets #TechStocks #FedPolicy #FXTrading #AIImpact #LabourMarket #CurrencyTrends #InvestingInsights
Money
Tech stocks and Bitcoin tumble amid market uncertainty and rising job concerns
Wall Street plummets as tech stocks and Bitcoin fall, raising concerns about job market and economic stability.
Wall Street plummets as tech stocks and Bitcoin fall, raising concerns about job market and economic stability.
Wall Street took a sharp hit Thursday as technology stocks and Bitcoin plunged, reigniting worries over the job market and global economic stability. Kyle Rodda from Capital.com breaks down how Alphabet and Qualcomm’s earnings may signal broader tech weakness.
Bitcoin’s recent drop also rattled crypto markets, with Coinbase shares falling sharply. Rodda explains how much of the decline is driven by market fundamentals versus shifting investor sentiment, and how rising AI expenditures are affecting investor confidence in tech.
The surge in unemployment claims, coupled with falling bond yields, is prompting concern over overall market stability.
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#WallStreetCrash #TechStocks #BitcoinDrop #MarketVolatility #JobMarket #InvestingTips #CryptoNews #Ticker
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