US Stock Futures Hold Steady Ahead of June Jobs Report as Fed Rate Outlook Remains in Focus 
Trump Administration Declines USMCA Renewal, Opens Talks on New Trade Changes 
Northern Star Appoints New CEO as Activist Elliott Pushes for Leadership Overhaul 
Trump Reports $1.4 Billion in Crypto Income as Digital Assets Become Top Wealth Source 
Apple Eyes Chinese Memory Chips as AI Shortage Pressures iPhone Supply Chain 
Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO 
Trump Administration to Launch Voluntary AI Standards for Frontier Models 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
SoftBank’s LY Corp, Bain Raise Kakaku.com Bid to ¥670 Billion, Intensifying Takeover Battle 
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report 
OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks 
Asian Stocks Rebound as Tech Shares Rally on Fed Rate Cut Hopes and Easing Iran Tensions 
New Zealand Consumer Confidence Rises in June as Inflation Expectations Ease 
Mary Daly Says AI Uncertainty Clouds Fed Rate Outlook Despite Restrictive Policy 
SK Holdings, KKR Launch $1.3B Renewable Energy Venture in South Korea 
Amazon Inc. is cancelling its Amazon Care virtual healthcare service, and this was confirmed on Wednesday, Aug. 24. It will be shut down by the end of this year as this is a necessary move to acquire its rival health service provider.
Amazon is awaiting regulatory approval for its acquisition of One Medical primary care provider. This does not just offer services online, but it also has a brick-and-mortar facility where doctors and health experts have actual offices for treatments and consultations.
Amazon Care does not have this as it is offering a purely virtual health care service or at-home doctor visits. Amazon is buying One Medical for $3.5 billion, and this was first announced just last month.
Reuters reported that Neil Lindsay, the senior vice president of Amazon Health Services and Amazon Stores, told employees that Amazon Care had many shortcomings despite the company’s efforts to provide the best services to clients.
One of Amazon Care's biggest clientele is Hilton Worldwide Holdings Inc., and it provides virtual care across the nation. The house calls are available to markets in Dallas, Los Angeles, and Washington.
"It is not a complete enough offering for the large enterprise customers we have been targeting and was not going to work long-term," Linsday stated in an email message that was forwarded to employees. The executive also said that he thinks the healthcare business is now "ripe for reinvention."
In any case, GeekWire reported that Amazon Inc. made the decision to discontinue the said service after determining the business was not the right long-term solution for business customers.
“One of the ways we’ve worked towards this vision for the past several years has been with our urgent and primary care service offering, Amazon Care,” Lindsay wrote in the email. “During that time, we’ve gathered and listened to extensive feedback from our enterprise customers and their employees, and evolved the service to continuously improve the experience for customers.”
He went on to say, “However, despite these efforts, we’ve determined that Amazon Care isn’t the right long-term solution for our enterprise customers, and have decided that we will no longer offer Amazon Care after Dec. 31, 2022.”
