Amazon.com said on Monday it was rolling out “Amazon Supply Chain Services“, opening up its logistics network for other businesses to use.
The company said businesses of all types and sizes can now move, store and deliver everything from raw materials to final products using Amazon’s own supply-chain network.
By opening up the service that has also supported thousands of independent third-party sellers worldwide, Amazon is tapping into a new growth opportunity for its e-commerce unit.
Its fleet of more than 100 cargo aeroplanes and a vast network of warehouses and sorting hubs could make Amazon a key player in an industry dominated by FedEx and UPS, potentially intensifying competition on pricing and speed. FedEx and UPS shares fell in early trade.
Amazon also offers distribution, fulfilment and parcel shipping services, allowing companies to take advantage of its speedy two-to-five-day delivery timelines, as well as warehousing and inventory forecasting capabilities.
Companies can use these solutions across all their sales channels, including their own website, social media channels and physical stores, Amazon said. Reuters
EU mulls Huawei and ZTE ban for telecom operators
The European Commission has recommended that member states exclude Huawei and ZTE gears from local telecom operators’ connectivity infrastructure, a spokesperson said on Monday.
The new cybersecurity rules being approved would grant the EU the possibility to ban the use of gears from high-risk suppliers in the EU market, the spokesperson told reporters during a briefing in Brussels.
China last week threatened countermeasures against the EU if the new cybersecurity rules were applied as Beijing considers the proposed rules to be “discriminatory”. Reuters
Repsol to offload renewable assets in Spain
Spanish energy group Repsol has agreed to sell a 49% stake in its largest portfolio of renewable assets in Spain to the United Arab Emirates’ Masdar, newspaper Cinco Dias reported on Monday, citing unidentified sources familiar with the talks.
The Minerva project, valued at about €850m, comprises 706MW of installed capacity across 13 wind farms and six solar farms, Cinco Dias said.
According to the report, the deal is in its final stages and is set to be formalised within weeks. Reuters
US tech firms’ AI spending plans lift SK Hynix shares
Seoul — Shares of SK Hynix surged 13% to a record high on Monday, driven by foreign buying, after some big US tech firms last week hiked their investment plans for AI data centres.
The South Korean chipmaker outperformed bigger rival Samsung Electronics, which has been weighed down by the risk of a potential strike by unionised workers demanding a bigger share of the company’s AI-driven profits.
SK Hynix shares closed up 12.52% to a record high of 1,447,000 won ($985) per share, outstripping Samsung Electronics’ 5.44% gain and the wider market’s 5.1% rise. Reuters
Danish watchdog sets up Nordea Bank probe
The Danish financial supervisory authority (FSA) said on Monday it had asked Danish police to investigate whether Nordea Bank has failed to comply with money laundering regulations on customer due diligence in Denmark.
The FSA said in a statement it had assessed that Nordea did not have sufficient knowledge of individuals within a larger group of customers who were issued with credit cards.
“The company did not conduct a sufficient assessment of why the customer wanted a credit card and what the credit card was to be used for,” the watchdog said. Reuters
Fervo Energy targets $6.5bn IPO valuation in US
Fervo Energy said on Monday it was targeting a valuation of up to $6.5bn in its initial public offering (IPO) in the US.
The Houston-based energy developer also said it is aiming to raise up to $1.3bn in the IPO by offering 55.6-million shares priced at $21-$24 apiece.
The company uses advanced geothermal systems to generate round-the-clock, carbon-free electricity, offering a reliable alternative to weather-dependent solar and wind power.
JPMorgan, BofA Securities, RBC Capital Markets and Barclays are the joint lead book-running managers. Reuters
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