Amazon’s space reach

The coronavirus crisis might be causing widespread economic upheaval around the world, but the world’s biggest tech firms are thriving.

Amazon sales soared 40% in the three months ending June, while Apple saw a surge in purchases of its iPhones and other hardware.

At Facebook, the number of people on its platforms, which include WhatsApp and Instagram, jumped by 15%.

The gains come as the firms face scrutiny over their size and power.

At a hearing in Washington on Wednesday, lawmakers grilled the companies about whether they were abusing their dominance to quash rivals, noting the sharp contrast between their fortunes and many other firms.

Their positions are likely to become even stronger, as the pandemic pushes even more activity online, said Congressman David Cicilline, the Democrat who leads the committee.

“Prior to the coronavirus pandemic, these corporations already stood out as titans in our economy,” he said.

“In the wake of COVID-19, however, they are likely to emerge stronger and more powerful than ever before.”

The gains weren’t a surprise to analysts – though just how well many of the firms did, was.

At Amazon, the quarterly profit of $5.2bn (£4bn) was the biggest since the company’s start in 1994 and came despite heavy spending on protective gear and other measures due to the virus.

“This is an exceptional quarter on all fronts under extreme circumstances,” Moody’s vice president Charlie O’Shea said of Amazon’s blockbuster rise.

What were the results?

The e-commerce firm’s sales surged 40% for the three months ending 30 June to $88.9bn (£67.9bn) – its strongest year-on-year growth in years. Profits rose to $5.2bn from 2.6bn for the same period in 2019.

The flood of online shopping has strained the firm’s capacity. Amazon hired about 175,000 people in the quarter and is working to expand its warehouse space in anticipation of continued growth.

“We’ve run out of space,” chief financial officer Brian Olsavsky said on a call with analysts about the results.

Meanwhile, Apple said quarterly revenues jumped 11% year-on-year to $59.7bn.

The shift to remote work and school helped drive demand for new devices, such as Macs and iPads, both of which saw double-digit gains. Profits hit $11.25bn, up from $10bn in the same period a year ago.

Apple said the release of the low-cost iPhone SE in April had helped to boost sales and put the electronics giant in a better position, despite the financial impacts of the coronavirus crisis.

“The last few months have underlined the importance of users – and households alike – to own better quality devices, connections and services,” said Paolo Pescatore, tech analyst at PP Foresight. “Apple smashed it.”

At Facebook, revenues rose 11% – slower than other quarters – but were still ahead of analysts’ expectations, as advertising held up better than expected. The firm’s profits hit almost $5.2bn for the quarter.

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The resilience was helped by a spike in users, which makes the firm attractive to advertisers, said Sophie Lund-Yates, equity analyst at Hargreaves Lansdown.

The firm said 2.4 billion people were active on its social media platforms and messaging apps on average in June, up 15% from last year. That included nearly 1.79 billion daily active users on Facebook, up 12% year-on-year.

As lockdowns have eased, Facebook said it was “seeing signs of normalisation in user growth and engagement”, warning those figures could flatten or decline in the months to come.

Ms Lund-Yates said the firm also remains vulnerable to social and political pressure, which could just as quickly push users away again.

“But this isn’t the first time Facebook’s navigated regulatory or social speed bumps, and it has deep pockets to throw at fixing problems,” she said.

Alphabet, which owns Google and YouTube, was the weakest of the four.

The search giant said revenues were $38.3bn, down 2% from a year ago, as businesses cut back on ad spending.

It was the first year-on-year decline in quarterly revenue for the search giant, since Google became a publicly-listed company in 2004.

Profits dropped about 30% year-on-year to roughly $7bn. But even those falls failed to faze analysts, who had expected damage.

“We expected April to be the bottom of the digital ad market, with a return to growth in May and June, and these results suggest that acceleration was stronger than expected,” eMarketer principal analyst Nicole Perrin said.

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It’s the first to collect rock and dust samples that will be returned to Earth.”,”descriptionText”:”This is Perseverance, the next rover that NASA is sending to Mars. It’s the first to collect rock and dust samples that will be returned to Earth.”},{“title”:”Lessons from the most ‘gender-equal’ countries”,”duration”:”03:18″,”sourceName”:”CNN”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2020/03/05/how-countries-can-close-the-global-gender-gap-suffrage-orig.cnn/index.xml”,”videoId”:”business/2020/03/05/how-countries-can-close-the-global-gender-gap-suffrage-orig.cnn”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200305173230-equal-pay-explainer-02-large-169.jpg”,”videoUrl”:”/videos/business/2020/03/05/how-countries-can-close-the-global-gender-gap-suffrage-orig.cnn/video/playlists/business-news/”,”description”:”Progress on gender equality is slow, but these four Nordic countries lead the way on closing their gender gaps. What can the rest of the world learn from them?”,”descriptionText”:”Progress on gender equality is slow, but these four Nordic countries lead the way on closing their gender gaps. 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CNN’s Christine Romans reports. “,”descriptionText”:”More than 52 million people have filed for first-time unemployment benefits in the last 18 weeks. 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CNN’s Tom Foreman reports.”,”descriptionText”:”Consumers staying home and businesses shutting down during the pandemic have led to a nationwide shortage of change. 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CNN’s Clare Sebastian reports.”,”descriptionText”:”As masks become ubiquitous amid the coronavirus pandemic, retailers are rushing to meet demand. CNN’s Clare Sebastian reports.”},{“title”:”Over 51 million Americans have filed jobless claims since March”,”duration”:”01:18″,”sourceName”:”CNNBusiness”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2020/07/16/jobless-claims-unemployment-benefits-coronavirus.cnnbusiness/index.xml”,”videoId”:”business/2020/07/16/jobless-claims-unemployment-benefits-coronavirus.cnnbusiness”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200715160358-unemployment-claims-ok-0709-large-169.jpg”,”videoUrl”:”/videos/business/2020/07/16/jobless-claims-unemployment-benefits-coronavirus.cnnbusiness/video/playlists/business-news/”,”description”:”Another 1.3 million people filed for first-time unemployment benefits, the 17th consecutive week with over one million claims. 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As part of the House Judiciary Committee’s antitrust probe into Apple, lawmakers have released a variety of internal emails from Apple. A collection of those emails offer new details on Apple’s longstanding battle with Amazon over allowing in-app purchases of ebooks in the Kindle app.

As it stands today, the Kindle app for iPhone and iPad does not allow users to purchase ebooks directly. Users can read the ebooks they’ve already purchased, but to buy new ones, they have to use Safari. This is Amazon’s way of avoiding giving Apple a 30% cut of ebook purchases, which would be required if Amazon sold ebooks directly within the Kindle app itself.

What’s important to remember is that this sort of arrangement wasn’t always the case. Up until early 2011, you could buy Kindle ebooks directly in the Kindle app on iOS. As first uncovered by the Verge, two sets of emails included in the internal documents include conversations between Steve Jobs, Phil Schiller, and other Apple executives regarding this situation.

In one email, Schiller explained that Apple initially made an exception for Amazon because “users would be buying books on a Kindle device and later accessing them on iPhone.” As Apple sold more iPhones, iPads, and iPod touches, however, Schiller thought it was time to drop this exception.

In fact, what actually prompted Schiller to reinvestigate this situation, according to the emails, is that Amazon ran a series of advertisements on how you could still access your Kindle books if you switched from iPhone to Android or vice versa. In one email, Schiller wrote:

I just watched a new Amazon Kindle app ad on TV. It starts with a woman using an iPhone and buying and reading books with the Kindle app. The woman then switches to an Android phone and still can read all her books. While the primary message is that there are Kindle apps on lots of mobile devices, the secondary message that can’t be missed is that it is easy to switch from iPhone to Android. Not fun to watch.

In a separate email, Schiller said:

I do think that we should tell Amazon that based on their own TV ads it is clear that the use of their App now violates our terms and guidelines and that they need to use our In App Purchase system for digital book sales as well. We should ask them to come back to us with a plan on how they will get their app in compliance with the rules. Based on our past discussions, I expect they will may choose not do do that. We would then likely have to decide whether to pull the Kindle app from the store or continue to allow an exception to our terms and guidelines for the Kindle app.

These conversations were taking place as Apple was also planning to announce new App Store policies for subscriptions. In his response, Jobs said that Apple could say Amazon “must use our payment system for everything” and say the change was triggered by the new newspapers and magazines subscription policies. “If they want to compare us to Android, let’s force them to use our far superior payment system,” Jobs wrote.

“It’s time for them to use our payment mechanism or bow out,” Jobs said in a separate email. In response to an email from Cue, Jobs also emphasized that iBooks would be the only bookstore on iOS devices:

I think this is all pretty simple — iBooks is going to be the only bookstore on iOS devices. We need to hold our heads high. One can read books bought elsewhere, just not buy/rent/subscribe from iOS without paying us, which we acknowledge is prohibitive for many things.

Next time you try and buy a book in the Kindle app on iPhone or iPad, you can be reminded of these emails and what triggered the change in the first place: a Kindle TV ad that Schiller didn’t like. Of course, one can also argue that it was right for Apple to stop providing Amazon an exception to the In App Purchase requirements in the first place.

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Employers across the country are being sued by the families of workers who contend their loved ones contracted lethal cases of Covid-19 on the job, a new legal front that shows the risks of reopening workplaces.

Walmart Inc., Safeway Inc., Tyson Foods Inc. and some health-care facilities have been sued for gross negligence or wrongful death since the coronavirus pandemic began unfolding in March. Employees’ loved ones contend the companies failed to protect workers from the deadly virus and should compensate their family…