Amazon.com, Inc. founder Jeff Bezos will officially step down from his role as chief executive on July 5, 2021. Bezos announced the news during the company’s annual shareholder meeting Wednesday. Andy Jassy, who currently runs Amazon Web Services, will take the CEO role. The timing is “sentimental,” Bezos said. July 5 is the date Amazon […]
U.S. President Joe Biden is prepping to show a massive spending proposal, which includes US$ 6 trillion in government funding for the next fiscal year. This amount would bring federal spending up to levels not seen since World War II and send inflation even higher. U.S. Treasury Secretary Janet Yellen pleaded with congressional leader to […]
The State of Washington formed the first state-run long-term care (LTC) services and support trust program in the U.S. Washington State Governor Jay Inslee inked SB 1323 (Long-Term Care Trust Act), which amends RCW 50B.04 to provide that, beginning January 1, 2022, Washington employers must withhold a new 0.58% payroll tax from all employee wages. […]
A consortium of investors, including the Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund), VTB Capital, Invest AG, Millhouse, sovereign funds of the Middle East such as Mubadala Investment Company, Baring Vostok and Flashpoint announced the completion of a funding round totaling US$ 250 million in IVI, Russia’s leading online video streaming service. IVI […]
Amazon.com, Inc. is buying MGM Studios (Metro-Goldwyn-Mayer Studios Inc.) for US$ 8.45 billion. This is Amazon’s second biggest deal, just behind its US$ 13.7 billion acquisition of Whole Foods in 2017. To give Amazon Studios a needed boost against Netflix, Amazon seeks to leverage MGM’s storied filmmaking history and wide-ranging catalog of 4,000 films and […]