- Amazon to Deliver 100,000 New US Jobs
Amazon Thursday announced plans to create 100,000 US jobs over the next 18 months, as President-elect Donald Trump presses the business world to boost activities on American soil.
The US tech and retail giant’s plan to bring its American workforce to over 280,000 is the latest — and largest — of a string of job-creation plans unveiled as Trump prepares to take office on a promise to boost US jobs and curb outsourcing.
“These new job opportunities are for people all across the country and with all types of experience, education and skill levels — from engineers and software developers to those seeking entry-level positions and on-the-job training,” a statement from the tech giant said.
Amazon made no mention of the president-elect, but Team Trump swiftly took credit for the plan, coming on the heels of similar initiatives by Japan’s SoftBank, Ford Motor Co., Fiat Chrysler and air conditioning manufacturer Carrier.
“The president-elect was pleased to have played a role in that decision by Amazon,” said spokesman Sean Spicer, noting that it followed a meeting in which Trump urged tech firms to keep jobs and production inside the United States.
Amazon said that “many” of the new jobs would be in new “fulfillment centers” or warehouses where goods are stored for consumer delivery.
“These jobs are not just in our Seattle headquarters or in Silicon Valley — they’re in our customer service network, fulfillment centers and other facilities in local communities throughout the country,” said Amazon founder and chief executive Jeff Bezos.
The world’s largest retailer has often faced criticism over working conditions in its warehouses.
In Britain, Amazon has been assailed for its labor policies, particularly after it emerged that some of its workers were unable to cover the cost of their commute, and resorted to sleeping in tents outside the warehouse.
– ‘Advanced logistics’ –
The initiative comes with Amazon expanding from its origins as an online retailer to a diversified tech company offering streaming video and music, cloud computing, and home automation through its artificial intelligence program Alexa.
Bezos said new workers will be needed “as we open new fulfillment centers, and continue to invent in areas like cloud technology, machine learning, and advanced logistics.”
Amazon’s job creation move comes even as the firm invests in technology to allow for speedier deliveries, which could include automating some functions in its warehouses. It also has been laying out plans for delivery by drone, which in some cases could be fully automated.
The company boasted that it also helps stimulate jobs and the economy through its Amazon Marketplace, which allows people to sell goods over the online platform, and Amazon Flex, which allows people to drive and deliver on a part-time basis.
Bezos and Trump exchanged barbs during the 2016 presidential campaign but the Amazon founder was among technology executives who met the president-elect last month in New York.
During the campaign, Trump warned Amazon could have “a huge antitrust problem” and accused Bezos of using the Washington Post, which he owns, to work against him and to push policies that help Amazon avoid taxes.
Bezos, who also owns the private space firm Blue Origin and at one point offered Trump a seat to outer space, congratulated his fellow billionaire after the election, tweeting, “I for one give him my most open mind and wish him great success.”
YouTube Suspends Trump Channel
YouTube Suspends Trump Channel
Google-owned YouTube on Tuesday temporarily suspended President Donald Trump’s channel and removed a video for violating its policy against inciting violence, joining other social media platforms in banning his accounts after last week’s Capitol riot.
Trump’s access to the social media platforms he has used as a megaphone during his presidency has been largely cut off since a violent mob of his supporters stormed the Capitol in Washington DC last week.
Operators say the embittered leader could use his accounts to foment more unrest in the run-up to President-elect Joe Biden’s inauguration.
“In light of concerns about the ongoing potential for violence, we removed new content uploaded to Donald J. Trump’s channel for violating our policies,” YouTube said in a statement.
The channel is now “temporarily prevented from uploading new content for a ‘minimum’ of 7 days,” the statement read.
The video-sharing platform also said it will be “indefinitely disabling comments” on Trump’s channel because of safety concerns.
Facebook last week suspended Trump’s Facebook and Instagram accounts following the violent invasion of the US Capitol, which temporarily disrupted the certification of Biden’s election victory.
In announcing the suspension last week, Facebook chief Mark Zuckerberg said Trump used the platform to incite violent and was concerned he would continue to do so.
Twitter went a step further by deleting Trump’s account, depriving him of his favorite platform. It was already marking his tweets disputing the election outcome with warnings.
The company also deleted more than 70,000 accounts linked to the bizarre QAnon conspiracy theory, which claims, without any evidence, that Trump is waging a secret war against a global cabal of satanist liberals.
Trump also was hit with suspensions by services like Snapchat and Twitch.
The president’s YouTube account has amassed 2.77 million subscribers.
The home page of the Trump channel featured a month-old video of Trump casting doubt on the voting process in November’s presidential election, and had logged some 5.8 million views.
On Tuesday, an activist group called on YouTube to join other platforms in dumping Trump’s accounts, threatening an advertising boycott campaign.
Analysts Predict 1,137% Earnings Per Share Growth for Shopify’s Full Year 2020
While the pandemic has devastated countless businesses, it has provided a major boon for eCommerce platform Shopify.
Shopify’s stock rallied by 169.9% in 2020 compared to the industry’s 26.6% growth. As of mid-December 2020, according to the research data analyzed and published by Finnish site Sijoitusrahastot, it had a 90 RS rating, which means that it had outperformed 90% of stocks during the year.
Based on the Zacks Consensus Estimate, its Q4 earnings per share (EPS) are set to jump by 188.37% to $1.24 while its sales will grow by 78% to $899.2 million. For the full year 2020, analysts project a massive 1,137% jump for the Shopify EPS.
Shopify Merchants Sell Over $5.1 Billion on Black Friday, Cyber Monday
Since Shopify went public in 2015, its stock has risen over 40-fold to more than $1,200 at the end of December 2020. Between 2016 and 2019, it skyrocketed by over 1,400%.
The eCommerce platform’s earnings for Q1 to Q3 2020 grew at an average of 552%. That was well above the 101% three-year average. In Q3 2020, its revenue nearly doubled from $390.6 million to $767.4 million.
Earnings in Q3 2020 rose from a net loss of 29 cents to $1.13 per share. Gross Merchandise Volume (GMV) soared by 109% reaching $30.9 billion, compared to 46% in Q1 2020 and 119% in Q2 2020. For the first nine months of 2020, there was a revenue increase of 82%.
For the first time, Shopify’s GMV surpassed that of eBay in Q2 2020, doing it again in Q3 2020. It claims to have a 6% share of the US market, higher than eBay’s but lower than Amazon’s 37%.
During the Black Friday Cyber Monday weekend, merchants on the Shopify platform sold goods worth $5.1 billion. Compared to 2019, this marked a 76% uptick and set a new record. Comparatively, independent businesses on Amazon sold goods worth $4.8 billion. The number of buyers on Shopify increased by 50% year-over-year (YoY) to 44 million during that weekend.
Global Digital Payments Market to Grow by 23.7% in 2020 to $4.9 Trillion
While it was already under way prior to the pandemic, the global shift to digital payments has been positively affected by the crisis.
According to the research data analyzed and published by Finnish website Sijoitusrahastot, the global digital payments market grew by 21% YoY in transaction value during H1 2020. Statista projects that the market’s total transaction value will grow by 23.7% year-over-year (YoY) in 2020 to reach $4.93 trillion. The number of users is also set to increase by 10.1% YoY to reach 3.47 billion.
Asia’s Digital Payments Market to Reach $2.88 Trillion in 2020
In the period between 2020 and 2024, the global digital payments will grow at a 13.4% compound annual growth rate (CAGR) to reach $8.17 trillion by 2024. The market’s top segment is digital commerce, estimated to grow at 4.8% YoY reach $2.93 trillion in 2020. By 2024, it is set to grow to $4.11 trillion, growing at a CAGR of 8.9%.
China will take the lead in digital payments, growing to $2.31 trillion, as well as in digital commerce, reaching $1.17 trillion in 2020. For Asia as a whole, digital payments will reach $2.88 trillion in 2020 as per a Statista report.
According to McKinsey, Asia generated $900 billion in 2019 as payment revenue, almost half the global total. Between 2018 and 2019, digital payments in Asia Pacific grew by 24.7%. Comparatively, the growth rate was 14.1% in the global market, 12.2% in Europe and 5.6% in North America.
China has a dominant role in the market, thanks to mobile payments. Based on a Finextra report, 70% of China’s consumers use mobile wallets regularly. It estimates that in 2020, 80% of global mobile wallet revenue will come from China.
Capgemini projects that in 2020, mobile payments in APAC will grow at 13.9% YoY to reach $277.5 billion. In contrast, the figure will be $229.1 billion in Europe, growing at 6.2% YoY and $184.8 billion in North America, growing at 3.0%.
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