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.
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UK government clashes with unions over public sector pay
Downing Street faces conflict with trade unions over public sector pay, maintaining that no extra funding will be provided for salary increases exceeding 2.8% as recommended by pay review bodies. Despite recommendations for higher raises for teachers and NHS workers, the government, already grappling with budget constraints, may need to finance any shortfall through cuts elsewhere. Unions are poised to consider industrial action if their demands for fully funded pay rises above inflation are not...
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