Amazon surpassed Walmart in quarterly revenue for the first time, with $187.8 billion in the fourth quarter compared to Walmart’s $180.5 billion, marking a shift in their long-standing ranking. While Walmart continues to lead in annual sales, Amazon is projected to close the gap, with revenue expected to reach $700.8 billion in 2025. Amazon’s revenue growth is driven by its retail unit, cloud computing, advertising, and seller services, with third-party seller services accounting for 24.5% of total sales and Amazon Web Services for nearly 17%. Walmart has emulated Amazon’s strategies by launching a third-party marketplace, advertising business, and loyalty program, Walmart+, to compete with Amazon Prime.
Full Article
Opposition leader Nika Gvaramia jailed in Georgia amid deepening crackdown | Politics News
Tblisi court sentences opposition figure Nika Gvaramia to eight months and bans him from holding office for two years.A Georgian court sentenced opposition leader Nika Gvaramia to eight months in prison and barred him from office for two years, amidst rising repression against critics of the ruling Georgian Dream party. The UK and Amnesty International condemned the government's actions, citing concerns over democratic backsliding and the targeting of dissenting voices. Explain It To Me Like...
Read more