Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
This is as much about the pressure that U.S. components suppliers are exerting on the government as opposed to punishing Huawei, Crawford Del Prete, president at IDC.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia edged up Monday afternoon as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
The hearing will now begin next Monday to allow time for the completion of a previous trial that revolves around former 1MDB unit SRC International, a Kuala Lumpur High Court...Asia Newsread more
"I don't want to do business at all because it is a national security threat," Trump told reporters.Technologyread more
Every day, Pinterest processes and stores tons of food pictures, vacation images and videos using Amazon's cloud. Now we know how much all of that work costs.
In its IPO filing on Friday, Pinterest said that it's committed to spending at least $750 million on Amazon Web Services over the course of a six-year period that ends in July 2023. As of the end of last year, the remaining obligation was $441.1 million, which works out to almost $100 million a year.
But Pinterest has been spending more than that, shelling out $190 million on AWS in 2018, the Information reported in February.
The disclosure highlights how reliant emerging companies are on public cloud services, which are provided by Amazon as well as Microsoft and Google. Ride-hailing company Lyft said earlier this month that it will have to spend at least $300 million on AWS over three years, and a minimum of $80 million each year, and Snap, which went public in 2017, committed to spending $1 billion on AWS and $2 billion on Google's public cloud over the course of five years.
AWS is the dominant cloud infrastructure service, with annual revenue in excess of $25 billion. Pinterest said in the filing that it's currently "required to maintain a substantial majority of our monthly usage of certain compute, storage, data transfer and other services on AWS."
Pinterest's agreement with AWS has an unusual provision, which allows the agreement to be ended if the company is acquired.
Pinterest said it can't "terminate the agreement until the minimum spend commitment is satisfied, other than termination only under certain additional conditions (such as the other party's material breach or acquisition of us by another cloud services provider)."
Amazon isn't just a technology supplier to Pinterest — it's also a competitor. In its section on competition, Pinterest highlights Amazon and Google as part of a group of larger rivals, many of whom "have significantly greater financial and human resources."