The UK Is Investigating Amazon (AMZN) for Not Paying Its Suppliers on Time
E-commerce giant Amazon (AMZN) is being investigated by the UK's grocery regulator, the Groceries Code Adjudicator (GCA), for not paying its suppliers on time. This would violate Article 5 of the UK's Groceries Supply Code of Practice, which says that retailers must pay suppliers 'within a reasonable time' after receiving their invoice. If Amazon is found to have breached the code, it could face a fine of up to 1% of its annual grocery turnover in the UK.
Confident Investing Starts Here:
Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
The GCA said that it had been monitoring Amazon's actions after warning the company last year to fix its practices. After reviewing more evidence, the regulator decided to launch a formal investigation focused specifically on Amazon's compliance with the payment timing rule. The GCA is responsible for making sure large grocery retailers treat their suppliers fairly, and this move suggests Amazon hasn't done enough to address previous concerns.
While Amazon's grocery operations are smaller in the UK than in other markets, they are still significant. Estimates suggest that Amazon has between 1.6% and 3% of the UK grocery market, compared to Tesco's 29%. Amazon doesn't break out UK grocery sales in its earnings reports, but the Competition and Markets Authority requires companies with over £1 billion in UK grocery turnover to follow the Groceries Code, which implies that Amazon exceeds that threshold. Following news of the investigation, Amazon's stock opened lower on Friday and continued to trade in the red for a third straight session.
What Is the Price Target for AMZN Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on Amazon stock based on 46 Buys and one Hold assigned in the past three months. Furthermore, the average AMZN stock price target of $241.64 implies 15% upside potential from current levels.
See more AMZN analyst ratings
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Canada News.Net
2 hours ago
- Canada News.Net
Zoox launches first robotaxi facility ahead of Las Vegas debut
HAYWARD, California: In a significant step toward its commercial debut, Amazon-owned Zoox has unveiled its first factory dedicated to building robotaxis, setting the stage for a direct showdown with Waymo and Tesla in the autonomous vehicle space. The facility in Hayward, California, was announced this week. It spans 220,000 square feet and is designed to produce over 10,000 units annually at full capacity. While initial production goals weren't shared, Zoox said the expansion aligns with growing demand ahead of its launch plans. The company is already testing over 20 vehicles in several U.S. cities. It aims to roll out commercial rides in Las Vegas this year, followed by a broader rollout in San Francisco. It currently operates in the SoMa district and expects to begin onboarding public riders soon. "This expansion, plus the anticipated demand once rides open up to the general public, and additional market entrances in the coming years, warrants this increase in robotaxi production," Zoox said in a statement. Unlike rivals, Zoox operates purpose-built autonomous vehicles without steering wheels or pedals — boxy shuttles that stand out from traditional cars retrofitted with sensors. Tesla plans to launch its robotaxi service on June 22, starting with Model Y vehicles and later a two-seater "Cybercab." Waymo, meanwhile, has years of experience with driverless fleets and is expanding nationally. Despite growing momentum, robotaxi developers face continued scrutiny over safety and regulation, with federal investigations and recalls following various crashes involving autonomous vehicles.
Globe and Mail
6 hours ago
- Globe and Mail
Can't Wait for XRP to Hit $10? PFMCrypto Launches 1-Day Cloud Mining Contract With $10 Free Bonus
Farington, England, June 21, 2025 (GLOBE NEWSWIRE) -- Despite growing enthusiasm in the XRP community, the long-awaited $10 milestone remains out of reach. XRP continues to fluctuate between $2.05 and $2.33, showing signs of consolidation rather than breakout. In response, PFMCrypto has introduced a new 1-day XRP cloud mining contract, providing holders with a smart and simple way to generate daily income—even as they wait for the next major price surge. New users receive a $10 signup bonus, enabling them to start mining XRP with no upfront investment. One-Day Contract, Same-Day Rewards Unlike traditional mining that relies on expensive hardware and technical know-how, PFMCrypto's XRP cloud mining model is fully remote and designed to simulate yield through proprietary infrastructure and AI-driven optimization. The newly launched 1-day mining contract is the most accessible option yet, letting users activate a plan using their $10 welcome bonus and receive $0.66 in daily XRP rewards—with no cost, no setup, and no risk. This short-term mining model allows XRP holders to earn predictable returns while staying engaged during sideways markets. Key Features of PFMCrypto's XRP Cloud Mining Contracts - No Hardware Required: Accessible to all users without the need for mining equipment or technical setup - Daily Payouts: Earn mining rewards daily based on your contract participation - Secure Custody: Assets are protected under PFMCrypto's industry-grade security standards - Flexible Contract Durations: Choose from short-, mid-, or long-term options to match your investment strategy Flexible Plans for All Investors PFMCrypto offers over 10 unique mining contracts to suit every investor profile—from curious beginners to seasoned holders seeking high-yield options: $10 Contract – 1 Day – Earn $0.66 (free with signup bonus) $100 Contract – 2 Days – Earn $3.00 daily + $2 bonus payout $1,000 Contract – 9 Days – Earn $13.10 daily $5,000 Contract – 30 Days – Earn $78.50 daily For long-term XRP holders, these plans offer a practical way to remain active in the ecosystem and generate steady returns while the token builds momentum toward higher price targets. Click here to explore the $10 XRP mining contract. What Sets PFMCrypto's XRP Mining Contracts Apart? - 100% Remote Access: No equipment, no tech skills—just log in and activate your plan - Capital Protection: Contracts guarantee full principal return upon maturity - AI-Powered Profitability: Yield optimization ensures profitability even during price stagnation - Daily Rewards: Predictable XRP payouts improve cash flow and reduce volatility risk How to Start Mining on PFMCrypto Register an Account: Get a $10 bonus plus $0.66 daily login rewards Select a Mining Contract: Activate a plan using your bonus or choose your own Start Mining: Sit back and earn—rewards are credited daily, automatically A Smarter Way to Wait: Income While XRP Consolidates Founded in 2018, PFMCrypto has been at the forefront of cloud-based crypto mining, democratizing access to passive income through secure, AI-powered, and environmentally conscious infrastructure. The platform is built to help users mine leading cryptocurrencies—like XRP, BTC, SOL, and DOGE—without the need for expensive rigs or in-depth technical knowledge. 'The path to $10 may take time, but XRP holders shouldn't have to wait empty-handed, ' said a PFMCrypto spokesperson. ' Our 1-day mining contracts are designed to give users a simple, low-risk opportunity to generate daily XRP returns—while staying engaged with the ecosystem.' Don't wait for the next rally to start earning—activate your XRP mining contract today at Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.
Globe and Mail
6 hours ago
- Globe and Mail
1 Stock That Turned $1,000 Into More Than $1 Million
Investors understand that when you extend your time horizon into decades with high-quality businesses, the power of compound growth can work wonders. This is why it's so beneficial to be a long-term owner of companies, allowing their improving fundamentals to positively impact your portfolio. This strategy is far more consistently reliable than constantly trying to time the market. With this perspective in mind, there are definitely some businesses that have generated tremendous wealth for their long-term shareholders. In fact, here's one stock that over the course of the past 28 years would have turned a $1,000 initial investment into a holding worth more than $1 million. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » Becoming one of the world's dominant enterprises Since this company's initial public offering in May 1997, its shares have produced an unbelievable return of 217,000%. Had you been able to allocate $1,000 to this stock when it went public, you'd be staring at a balance of nearly $2.2 million today. The company in question is none other than Amazon (NASDAQ: AMZN). Its journey -- characterized by constant innovation and pushing the envelope -- has been nothing short of spectacular. Amazon started out in the mid-1990s selling books online. While this was a narrow focus, it was a revolutionary idea at the time. The company wanted to stick to a product category that was easy and low-risk to ship, and one that had a massive selection of items for shoppers to choose from. Over time, Amazon evolved to start selling virtually anything under the sun, and it continues to expand its footprint. In December, for example, the business launched a partnership that allows consumers to buy new Hyundai vehicles on its e-commerce site. The entire car-buying process, from arranging financing to scheduling the delivery from a nearby dealer, can be handled on Amazon. The company enticed shoppers to spend more money on its site by pioneering fast, free shipping, and offering it as a perk of its Prime membership program in 2005. Today, it is estimated that there are more than 200 million Prime members across the globe. In 2006, the company began offering Amazon Web Services (AWS) to external customers. Management realized that other businesses might need solutions to scaling IT infrastructure based on changing needs -- the same issue Amazon faced with its e-commerce operation. In 2024, AWS generated $108 billion of revenue and $40 billion of operating income. It is the world's largest cloud-computing infrastructure provider and a major artificial intelligence (AI) platform. Thanks to the tremendous amount of traffic gets these days, as well as the success of the Prime Video streaming platform, Amazon has become an advertising juggernaut. During the first quarter of 2025, it collected $13.9 billion in digital ad revenue. What the future might hold With a market capitalization of $2.3 trillion and trailing-12-month revenue of $650 billion, Amazon has grown into a colossal entity and delivered incredible gains to its long-term shareholders. But it would be unreasonable to expect it to do anything similar in the future -- it's already one of the five largest companies in the world. Growth can't continue at a rapid pace indefinitely, and given Amazon's current scale, there are limited opportunities for it to do things that could move the financial needle. That doesn't necessarily mean Amazon isn't a worthy investment candidate, though. According to Wall Street consensus analyst estimates, its revenue is projected to increase at a compound annual rate of 9.5% between 2024 and 2027. That's certainly an encouraging sign. Even better, its bottom line is soaring thanks to cost cuts and operational efficiencies. Diluted earnings per share (on a split-adjusted basis) went from $3.21 in 2021 -- and a $0.27 loss in 2022 -- to $5.53 in 2024. Those impressive gains make the current valuation reasonable, in my view. As of June 19, the stock trades at a forward price-to-earnings ratio of 34.3. Amazon won't turn a $1,000 investment into $2.2 million over the next 28 years. However, this business should be on every long-term investor's radar. Should you invest $1,000 in Amazon right now? Before you buy stock in Amazon, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Amazon wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $664,089!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $881,731!* Now, it's worth noting Stock Advisor 's total average return is994% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025
