Dec 5, 2017 - Economy & Business

Amazon makes its Australian debut

Amazon CEO Jeff Bezos. Photo: Ted S. Warren / AP

Amazon likes to call itself "the everything store," but it's also on it's way to being the everywhere store, launching its 12th global marketplace Tuesday in Australia. But the retail reckoning that many observers had predicted when Amazon finally unveiled its Australian website didn't materialize, as customers shopping on Amazon.au found selection to be lacking and prices high, Reuters reports.

Why it matters: Stocks of Australian retailers like Myer Holdings department store rose on the news of Amazon's lackluster debut, but Australian retailers shouldn't get too comfortable. As the Australian Financial Review warned earlier this year, "While other companies dread making colossal mistakes, [Jeff] Bezos seems just not to care," arguing that Amazon's deep pockets and long-term outlook allow it to profit from the lessons learned through initial failure.

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Rebecca Falconer
Updated 42 mins ago - World

China says U.S. is "endangering peace" with high-level visit to Taiwan

Health and Human Services Secretary Alex Azar during a June briefing in Washington, DC. Photo: Joshua Roberts/Getty Images

Health and Human Services Secretary Alex Azar announced Tuesday night he will lead a delegation to Taiwan "in the coming days."

Why it matters: It's the highest-level visit by a U.S. cabinet official to Taiwan since 1979. Azar is also the first U.S. Cabinet member to visit the island state in six years. The visit has angered China, which views Taiwan as part of its territory. Chinese officials accused the U.S. Wednesday of "endangering peace" with the visit, AFP reports.

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Axios
Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3:30 a.m. ET: 18,543,662 — Total deaths: 700,714 — Total recoveries — 11,143,031— Map.
  2. U.S.: Total confirmed cases as of 3:30 a.m. ET: 4,771,236 — Total deaths: 156,807 — Total recoveries: 1,528,979 — Total tests: 57,543,852 — Map.
  3. States: New York City health commissioner resigns in protest of De Blasio's coronavirus response — Local governments go to war over schools.
  4. Public health: 59% of Americans support nationwide 2-week stay-at-home order in NPR poll.
  5. Politics: Trump's national security adviser returns to work after coronavirus recovery — Republicans push to expand small business loan program.
  6. Sports: Indy 500 to be held without fans — Rafael Nadal opts out of U.S. Open.
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Dave Lawler
Updated 3 hours ago - World

At least 100 killed, 4,000 injured after massive explosion rocks Beirut

Photo: Anwar Amro/AFP via Getty Images

A major explosion has slammed central Beirut, Lebanon, damaging buildings as far as several miles away and injuring scores of people.

Driving the news: At least 100 people have been killed and over 4,000 injured in the blast — and the death toll is likely to rise, the Lebanese Red Cross said, per AP. Prime Minister Hassan Diab said the explosions occurred at a warehouse that had been storing 2,750 tons of ammonium nitrate for the past six years.

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