Amazon.Com, Inc AMZN stock is trading higher Tuesday as it declared Business Prime Duo free for small-business owners with their Prime membership.
Prime Duo is an Amazon Business membership that helps small-business owners by bringing together business buying tools and access to business-only pricing on select items, alongside fast, free business delivery.
Last week the Federal Trade Commission prosecuted the company for allegedly duping Prime customers.
The FTC alleged that Amazon had conned millions of consumers into enrolling in automatically renewing Prime subscriptions.
Also this week, Amazon announced plans to invest $7.8 billion by 2030 to expand the company’s data center operations in Ohio. Amazon has invested $6.3 billion in Ohio since 2015 and estimates that it has created over 3,500 full-time equivalent jobs annually.
It also launched Amazon Hub Delivery to empower local businesses across the U.S.
The new delivery program looks to recruit 2,500 small business partners in 23 states by the end of the year, which could generate $38 million in incremental income for participating businesses in 2023.
Amazon also proposes to ramp up investments in India to $26 billion by 2030, adding $6.5 billion in new planned assets after CEO Andy Jassy met Prime Minister Narendra Modi in the U.S.
The stock has gained 49% YTD.
Price Action: AMZN shares traded higher by 1.55% at $129.31 on the last check Tuesday.
Photo by christian-wiedige via Unsplash
Image and article originally from www.benzinga.com. Read the original article here.