UPDATE 1-Cloud services seen growth driver for Amazon July 24- Amazon.com Inc's shares surged more than 20 percent in early trading on Friday, adding more than $46 billion to the company's market value, after strong growth in the e-commerce giant's cloud business drove a surprise quarterly profit. The company's market capitalization soared to more than $270 billion, overtaking that of Wal-Mart Stores, the...
| By: Eileen Soreng
Amazon's Prime Day draws big virtual crowd, frustrates some shoppers July 15- Merchants participating in Amazon.com' s much-advertised "Prime Day" sale saw an 80 percent rise in U.S. sales from a year earlier, according to preliminary data from e-commerce researcher ChannelAdvisor, although the event also drew ire from some shoppers. The one-day sale on Wednesday for members of Amazon's $99 per year Prime subscription service is...
| By: Yashaswini Swamynathan
UPDATE 1-"Kindergarten" as weary euro ministers divide over Greece *Rift spreads across Europe, including within governments. BRUSSELS, July 12- Caught between the rock of throwing good taxpayers' money after bad in Greece and the hard place of opening a dangerous crack in their common currency, tempers frayed among euro zone ministers meeting at the weekend. Such was the "tough, even violent" atmosphere, in the words of one...
| By: Alastair Macdonald and Jan Strupczewski
UPDATE 1-Lehman's Fuld defeats employee lawsuit over retirement losses NEW YORK, July 10- A U.S. federal judge on Friday dismissed a lawsuit by former Lehman Brothers Holdings Inc employees seeking to hold onetime Chief Executive Richard Fuld liable for their retirement plan losses as the Wall Street bank plunged into its 2008 bankruptcy. District Judge Lewis Kaplan in Manhattan rejected claims that Fuld breached an obligation...
| By: Jonathan Stempel
Bases loaded The average pro baseball team is worth at least $1.2 billion. Still, the game isn't drawing younger fans. The Washington Post Senior Editor Marc Fisher and the Wharton School's Kenneth Shropshire discuss whether it's an aging audience, or something more ominous.
COLUMN-As China suspends reality, sit tight: James Saft July 7- Only an excessively brave investor would bet that China's increasingly desperate moves to prop up its stock market won't work; only a fool would bet that they will. The proper place for anyone with any choice in the matter is on the sidelines, watching with concern as China, faced with a rapid implosion in its stock market, attempts to overawe would-be...
| By: James Saft