“We support the Biden administration’s focus on bold investment in US infrastructure,” Bezos said. “We recognize that this investment will require concessions from all sides – both in terms of the specifics of what is included and how it is paid.”
It’s a remarkable announcement – especially considering Amazon has been criticized for paying little or no income tax in recent years. The company reported a US federal tax debt of $ 1.8 billion in 2020, compared to net income for the year of $ 21.3 billion.
Amazon’s desire to increase its tax burden comes since the company was forced to play defense on a number of other fronts.
The online retailer has clashed in recent weeks with lawmakers over the union’s vote at an Amazon warehouse in Bessemer, Alabama. Ballots are still being counted, but the vote could mark a huge gain for the organized workforce and could support the way the company employs hundreds of thousands of American workers.
In his shareholder letter, Dimon wrote that America is “clearly under a lot of tension” due to the pandemic, racial inequality, China’s rise and the “divisive 2020 presidential election that culminated in the Chapter assault and the attempt to disrupt our democracy.”
The influence of the Business Roundtable is committed to fighting higher corporate taxes, which it says will make US companies less competitive. But it is worth noting that Amazon has decided to turn its attention elsewhere.
Coinbase reports a huge increase before listing on Wall Street
Most recently, the digital exchange estimated on Tuesday that it brought in revenue of $ 1.8 billion in the first three months of the year. It has risen from $ 1.3 billion by 2020.
Between January and March, the price of bitcoin – the most popular cryptocurrency – rose from less than $ 30,000 to more than $ 58,000, while the price of ether doubled.
“We have seen that the all-time high prices of cryptocurrencies lead to high levels of user activity and trading volume on our platform,” Alesia Haas, CFO of Coinbase, said in a call to investors.
Watch this space: Coinbase, based in California, is the highest profile company in the crypto space that is going public, and its direct listing on the Nasdaq, which is scheduled for next Wednesday, is getting a lot of attention.
But regulating the cryptographic space remains a big risk. Last month, Coinbase reached a $ 6.5 million transaction with the Commodity Futures Trading Commission for allegedly providing false or misleading transaction information and a former employee making manipulative transactions.
“We are subject to an extensive and highly evolving regulatory landscape and any adverse changes or non-compliance with any laws and regulations could adversely affect our brand, reputation, business, results of operations and financial condition,” the company warned in Securities and Exchange Commission filings. .
Topps becomes public as trading cards rise
The pandemic fueled a resurgence in the popularity of trading books, the hobby attracting both a new wave of young followers and a flow of professional investors looking for profits.
The transaction would value Topps at $ 1.3 billion.
Topps has been a publicly traded company for many decades. Most recently, he was deprived in 2007 of an investment firm run by former Disney CEO Michael Eisner. The deal is worth $ 385 million.
The industry has also received a boost from the craze for non-fungible chips or NFTs. Topps has recently expanded its business to sell digital editions of its player cards, each with a unique digital token built on blockchain technology. This creates a shortage that makes them more valuable to collectors.
It follows
The meeting of G20 finance ministers and central bank governors ends with a press conference at 10 am ET.
Also today:
- The latest US oil stock data is released at 10:30 ET.
- Minutes from the most recent meeting of the Federal Reserve arrive at 14:00 ET.