business
Amazon Q2 2023 Sailed Past Estimates, Earning $134.4 Billion USD in Revenue
Amazon is aiming high in Q2 2023 after a series of disappointing quarters. In its recent quarterly report, the e-commerce site recorded blowout profits, posting its biggest earnings since Q4 2020. The company showed that it returned to double-digit revenue growth, indicating that CEO Andy Jassy's cost-cutting efforts are working. According to CNBC, Amazon began its cost-cutting initiatives when it had its largest layoff in the company's history. The company cut 27,000 jobs last Fall and has since froze corporate hiring. Global headcount fell 4% to 1.46 million people by the end of Q2. This past quarter, the company filed net income of $6.7 billion USD with an EPS of 65 cents over the 35 cents expected. The net sales hit $134.4 billion USD, higher than the the projected $131.6 billion USD. ...
Consolidated cargo tax standoff persists as stocks pile at airports
Jomo Kenyatta and Eldoret airports are experiencing a pile-up of consolidated cargo.
Deloitte’s fight with Kenyan partner now contempt issue
Nine senior Deloitte & Touche LLP officials risk being jailed for allegedly breaching court...
KeNHA loses to firm in Sh1.8bn pay enforcement
The High Court has dismissed an application by the Kenya National Highways Authority (KeNHA).
Jubilee free to run Nairobi county medical cover
Public Procurement Administrative Review Board has dismissed an application for review of a...
Kakuzi’s trespassing cows anger golf club
Makuyu Club has gone back to court seeking to commit directors of Kakuzi Plc to civil jail.
Global supply shocks fuel new food crisis in Kenya
Global supply shocks have increased the prices of Kenya’s critical staples, including rice...
President Ruto appoints Equity Bank boss James Mwangi as first virtual university chancellor
President Ruto has appointed James Mwangi as the inaugural chancellor of the Open University of...
High Court bench to give directions on Finance Act petition Tuesday
A bench of three judges appointed to determine the contentious Finance Act, 2023 will sit next...
Incoming Mumias administrator, Harveen Gadhoke to file updated debt list
New Mumias Sugar Company administrator Harveen Gadhoke has been ordered to compile the miller’s...
Kithure Kindiki freezes WorldCoin as Capital Markets Authority issues fraud alert
The government has suspended the activities of the cryptocurrency project WorldCoin in the...
Internet outages rock President Ruto’s 25,000 Wi-Fi hotspots plan
The free government Wi-Fi hotspots at Nairobi markets have been hit by outages weeks after...
