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Amazon revenues jump in Q1 but profit takes a backseat on covid-19-related expenses
2020-05-01 09:26:00| Telecompaper Headlines
(Telecompaper) Amazon reported revenues up 26 percent from the year before in the first quarter to USD 75.5 billion, beating expectations, but profit came under pressure from higher costs amid the coronavirus pandemic, with the operating profit down to USD 4.0 billion from 4.4 billion and the net profit off at USD 2.5 billion or USD 5.01 per diluted share, from 3.6 billion and 7.09 per share. Operating expenses jumped to USD 71.463 billion from 55.280 billion. Looking ahead, CEO Jeff Bezos told shareholders to "take a seat, because we are not thinking small." Amazon plans to plow its USD 4 billion operating profit back into the company, on covid-19-related expenses, on getting products to customers and on keeping employees safe.
Permian Shale Producer Concho Resources Takes $12.6 Billion Charge
2020-05-01 00:25:00| OGI
Concho Resources reported a bigger first-quarter loss, hurt by a $12.6 billion impairment charge and the oil producer said it would further cut its annual spending following the rout in oil prices.
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Fast Retailing takes steps to safeguard suppliers
2020-04-27 14:55:00| Daily apparel & textile news and comment - from just-style.com
The owner of the Uniqlo and Gu brands, Fast Retailing, says it is rolling out a series of measures to cut the risk of Covid-19 to its manufacturing partners and workers across its supply chain, including payment to its suppliers for complete orders and orders where production has started.
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Episode 54: Overcoming the Plastics Crisis Takes Bold Action (Transcript)
2020-04-22 15:21:00| Waste Age
[00:00:00] Liz Bothwell: Hi everyone, welcome to Waste360's NothingWasted! Podcast. On every episode, we invite the most interesting people in waste recycling and organics to sit down with us and chat candidly about their thoughts, their wo
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Primark owner takes GBP284m unsold stock hit
2020-04-21 13:35:00| Daily apparel & textile news and comment - from just-style.com
Primark-owner, Associated British Foods (ABF) has written down the value of its clothing stock by GBP284m (US$349.3m) as the fashion retailer has gone from making sales of GBP650m each month to nothing following the closure of all stores in March amid the Covid-19 pandemic.
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