Double whammy: Amazon is also under fire over its tax deal with Luxembourg, which may result in the US online retailer paying millions of euros in back taxes.
CHICAGO: For all the hand-wringing about how Amazon.com Inc’s growth aspirations may hurt other companies, there’s plenty of evidence in third-quarter earnings results that the online retailer isn’t alone in benefiting from robust economic growth.
Amazon blew through forecasts on Thursday, triggering a stock surge that made founder Jeff Bezos the world’s richest person. But the week held other winners too: Results from Microsoft Corp, General Motors Co and United Parcel Service Inc all helped elevate US benchmark stock indexes to records. Despite some high-profile blowups, reports by European companies from Volkswagen AG to Atlas Copco AB to luxury-goods giant Kering SA pleased investors, as did China’s Kweichow Moutai Co, the most valuable distiller.
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