FT News Briefing Amazon misses revenue targets in latest quarter
Jul 30, 2021
Taylor Nicole Rogers, the FT’s labor and equality correspondent, shares insights on the surprising shift in the US labor market, where teens are seizing opportunities like never before. She discusses the competitive summer job landscape, where young workers are not only landing roles but achieving management positions with decent pay. With employers facing recruitment challenges, Rogers highlights the growing appeal of teenage workers bolstered by pandemic-related changes and competitive employer incentives.
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Amazon's Miss
- Amazon missed revenue targets, causing share drops despite 27% growth.
- Wall Street's high expectations, fueled by pandemic performance, were unmet.
Robinhood's IPO
- Robinhood's IPO saw a lukewarm reception, opening at $38 and closing near $35.
- Regulatory scrutiny dampened investor enthusiasm despite the company's growth.
China's Crackdown
- Chinese stocks plummeted after government crackdowns on education and tech profits.
- Investors are now wary and uncertain about China's market objectives.