Amazon misses profit expectations, warns of less income

The company is predicting a loss as it spends more to enhance services in Prime, its customer loyalty club. Amazon.com Inc on Thursday reported a profit below Wall Street‘s expectations and said income would slump slightly in the current quarter, as the online retailer ramps up spending to deliver goods faster and generate sales growth. Shares fell more than one percent in after-hours trading. Seattle-based Amazon has drawn more than 100 million paid subscribers to its loyalty club Prime by releasing original TV shows, equipping more gadgets with its voice…

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The US economy is doing better than expected

Consumer spending helped the world’s biggest economy grow more than experts had projected for the second quarter. Economic growth in the United States slowed less than experts had expected in the second quarter, as a surge in consumer spending blunted some of the drag from declining exports and a smaller inventory build-up. The fairly upbeat economic report from the US Department of Commerce on Friday could further soothe concerns about the economy’s health – but will probably not deter the US Federal Reserve from cutting interest rates next Wednesday for…

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SpaceX Starship Launch System: One small hop for Musk

The untethered lift-off is an early step for a 100-passenger spacecraft. The SpaceX test vehicle Starhopper jumped untethered and flew sideways before landing at the test site near the beaches of Boca Chica, in Brownsville, Texas in the United States. The hope was to see the prototype jump 20 metres, but a massive fire cloud obscured the test, leaving observers wondering just how far the craft actually hopped. Once the fire cloud dissipated, Starhopper was not only intact, but had definitely hopped from its original position. How far was difficult…

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Starbucks’ earnings soar thanks to Chinese and US coffee lovers

The coffee chain’s total net revenue rose 8.1 percent to $6.8bn for the third-quarter, surpassing Wall Street estimates. Starbucks Corporation raised its annual earnings forecast after quarterly same-store sales exceeded Wall Street estimates on Thursday, as the world’s largest coffee chain saw robust demand in the United States and China for its new beverages. Shares of the Seattle-based company rose nearly six percent to $96.40 after the bell and were on track for a record high after the company posted its biggest same-store sales growth in 12 quarters. Starbucks has…

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Jeffrey Epstein found unconscious in New York jail cell

The wealthy financier is being held on charges of sex trafficking dozens of underage girls. Wealthy US financier Jeffrey Epstein, who is accused of trafficking underage girls for sex, was found unconscious in his New York jail cell with injuries on his neck this week, US media reported on Thursday. It was not clear whether the injuries were self-inflicted or from an assault, a person familiar with the matter told the Associated Press. The person was not authorised to discuss the case and spoke to The Associated Press on condition…

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