Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
China Adds Domestic AI Chips to Government Procurement List as U.S. Considers Easing Nvidia Export Curbs 
Rio Tinto Signs Interim Agreement With Yinhawangka Aboriginal Group Over Pilbara Mining Operations 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
GameStop Misses Q3 Revenue Estimates as Digital Shift Pressures Growth 
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Samsung SDI Secures Major LFP Battery Supply Deal in the U.S. 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Jeff Bezos, the main man behind Amazon, is vacating his post as the company’s chief executive officer. The world’s richest person on earth is stepping down later this year and would be taking on a new role.
The announcement names the new Amazon CEO
Jeff Bezos said that as he leaves the CEO post, he will be transitioning as Amazon’s executive chair in the third quarter of 2021. He will be replaced by Amazon Web Services’ chief Andy Jassy.
The billionaire announced the change of his title on Feb. 2, and he did this by sending an email to his employees. The note was also published on Amazon’s own website on the same day.
“I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO,” Jeff Bezos wrote. “In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives.”
He added, “Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.”
A few hours after it was revealed that Jeff Bezos is stepping down as Amazon’s chief, his company’s shares have increased a bit. The tech and online retailer firm hit on both earnings per share and revenues.
Who is Andy Jassy?
Jeff Bezos’ successor has been with Amazon for 24 years. He joined the company in 1997, just after he took his final exams at the Harvard Business School.
As per the Daily Mail, he was the one who built Amazon Web Services and turned it into the $40 billion internet-dominating business that it is today. The 52-year-old Andy Jassy was also the executive who canceled the controversial Parler app service from AWS’ platform.
Jassy grew AWS into a cloud platform that is now being used by millions and has already surpassed other players in the field, including Microsoft and Oracle. Today, under his leadership, Amazon Web Services owns nearly half the world’s public cloud infrastructure business.
“Jassy’s background in steering AWS shows just how top-of-mind those services are to Amazon’s business strategy,” The Guardian quoted chief transformation officer at Mindshare Worldwide, Tom Johnson, as saying regarding Jassy’s promotion. “It will be interesting to see how that affects their strategy and balancing that priority with a growing ad business and the commerce behemoth.”
