American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
Sales at Amazon Web Services climbed to $7.43 billion from $5.11 billion a year ago, topping the $7.29 billion consensus estimate among analysts polled by FactSet. AWS revenue represented 10 percent of total quarterly sales at Amazon.
The cloud business has become crucial to the success of its parent, not only for revenue but also for profits.
Operating income for AWS in the quarter was $2.18 billion, exceeding the $2.09 billion FactSet consensus estimate. The unit accounted for 58 percent of Amazon's overall operating income. AWS' operating margin was 29 percent, shrinking from 31 percent the prior quarter.
"We are getting more and more creative around getting efficiency up and getting our cost of acquisition down," Amazon's chief financial officer, Brian Olsavsky, told analysts on the company's quarterly earnings call on Thursday.
AWS beat Microsoft and Google to the market for cloud infrastructure, which companies use to outsource their computing and data storage needs, and has held onto its lead.
However, Microsoft's business is growing faster, even though it's still smaller than AWS. The software company said on Wednesday that Azure cloud revenue grew 76 percent in the latest quarter.
Brian Weiser, an analyst at Pivotal Research Group, had estimated that AWS would generate fourth-quarter revenue of $7.41 billion.
"With substantial upside potential for AWS and a strong track record, we think we can safely assume significant ongoing revenue growth for the foreseeable future," wrote Weiser, who initiated Amazon coverage with a "buy" rating earlier this month.
AWS' big announcements in the period included the introduction of new computing instances that rely on ARM-based server chips, custom-built chips for accelerating artificial-intelligence work and a plan to offer hardware equipped with AWS software for corporate data centers.