Dec 26, 2018 - Technology

Amazon racks up "tens of millions" of new Prime subscribers over holiday

The Amazon logo on a phone screen. Photo: Miguel Candela/LightRocket via Getty Images

Amazon announced this morning it had a record-breaking holiday season with the company adding "tens of millions" of Amazon Prime subscribers while also selling millions of Amazon devices worldwide.

Why it matters: Like any retailer, one of Amazon's goals is to sell customers their own products and devices. But larger than that, Amazon's bigger goal is to convince these shoppers to subscribe to their other services, such as Prime Video. Numbers show they accomplished that in a major way this holiday season.

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Shane Savitsky

52 mins ago - World

Jeremy Corbyn suspended by U.K. Labour Party over anti-Semitism report

Photo: Christopher Furlong/Getty Images

The U.K. Labour Party has suspended its former leader, Jeremy Corbyn, after a watchdog report found that the party failed to properly take action against allegations of anti-Semitism during his time in charge.

Why it matters: It represents a strong break by Keir Starmer, Labour's current leader, from the Corbyn era and one of the party's most persistent scandals.

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Courtenay Brown, Felix Salmon

Updated 1 hour ago - Economy & Business

U.S. economy sees record growth in third quarter

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday.

The state of play: The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction — but GDP still remains well below its pre-pandemic level.

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