Amazon's site suffered outages and a warehouse strike at start of Amazon Prime Day, issues that could cost the company millions in revenue, even if they are short lived.
There were numerous news and social media reports on the outage, with additional reports of people seeing images of Amazon workers' pets (Amazon's version of a 404 message). Amazon had not put out a public statement as of 5 PM ET, and the web was filled with complaints about people unable to make payments or navigate Amazon far beyond the landing page. Amazon sells about $1 million per minute on Prime Day, so the losses could be staggering. The New York Daily News reports about 24,000 people had problems accessing Amazon.
A student is reflected in the window of an Amazon.com Inc. kiosk on the University of California, Berkeley campus in Berkeley, California, U.S., on Wednesday, Oct. 12, 2016. By the end of the year, Amazon will have staffed pickup kiosks serving more than 500,000 college students at 16 schools around the country. Students order items from Amazon.com Inc. and retrieve them from new pickup lockers. Photographer: David Paul Morris/Bloomberg
David Paul Morris/Bloomberg
The outage also comes at the same time as a strike at Amazon warehouses in Spain, with additional strikes scheduled for Tuesday in Germany and Poland. There were 1,800 workers off the job as of Monday, though there were no signs that the strike and outage were related.
Amazon Prime Day is a marketing "holiday" that aims to expand Amazon Prime membership, a $119 subscription that's a major part of Amazon's marketing strategy at its core site and Whole Foods.
It's been a bad summer for transaction glitches, as Visa and Mastercard have both suffered outages that left people unable to make purchases.
Bank advocates and lawmakers have endorsed removing management considerations from the key supervisory ranking, arguing that it is too prone to subjectivity. But some policy experts say doing so could leave certain risks unchecked.
As it rolls out dozens of new products to up its game in stablecoins and artificial intelligence, the payment company is also working with sellers wishing to expand activities involving non-U.S. corridors.
Jim Richards, who served as the bank's head of anti-money-laundering compliance, says the Federal Reserve is wrongfully denying him compensation that was designed to keep him employed at Wells Fargo.
New Jersey-based ConnectOne Bancorp received FDIC approval for its merger with First of Long Island Corp; lending-services fintech Oportun makes changes to its board of directors; Associated Banc-Corp's Steven Zandpour will succeed David Stein as head of consumer and business banking; and more in this week's banking news roundup.
