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Fly News Breaks for February 24, 2020
Feb 24, 2020 | 08:06 EDT
UPS (UPS) disclosed in its annual filing that (AMZN) represented 11.6% of the company's revenues in 2019, substantially all of it attributable to its U.S. Domestic Package segment, Deutsche Bank analyst Amit Mehrotra tells investors in a research note. This implies Amazon accounts for 18.5% of UPS's domestic revenue, which is too much exposure to a customer with a well-known track record of in-sourcing/re-sourcing business with relatively little notice, contends the analyst. He believes that while Amazon is "clearly a driver" of revenue and EBIT growth for UPS, there are "very valid questions" about what risks are created by this significant level of exposure.
News For UPS;AMZN From the Last 2 Days
Jan 17, 2022 | 09:28 EST (AMZN) has emailed its customers in the U.K. to say that a planned ban on Visa (V) credit cards will no longer take place, according to various news outlets. "We are working closely with Visa on a potential solution that will enable customers to continue using their Visa credit cards on," Amazon said in the email, according to Bloomberg. The previously announced ban, which Amazon said was due to the rising costs of accepting credit card payments, was due to take place on January 19. "Amazon customers can continue to use Visa cards on after January 19 while we work closely together to reach an agreement," a Visa spokesman told Bloomberg.