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Apple unnerves investors with ‘$4 billion to $8 billion’ guidance

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Reuters

Amazon’s net loss prompts query: Has it built too many warehouses?

In recent years, Amazon.com Inc has spent billions of dollars on new warehouses that cut into profits, explaining to investors that it had no choice but to meet ever-rising consumer demand. It turns out, Amazon may have built too much, too soon, analysts say. The world’s largest online retailer on Thursday reported $2 billion in incremental costs from having excess fulfillment and transportation capacity, a dramatic shift from just two years ago when Amazon had to turn away merchants’ goods because it had room only for vital supplies.

Russia cuts key interest rate to 14%, says inflation could hit 23% this year

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