Amazon's launch in Singapore stumbles
Amazon.com Inc.'s entry into Southeast Asia was marred Friday by a delivery problem.
After introducing its Prime Now two-hour delivery service to Singapore on Thursday, the company was unable to deliver goods to customers. As of Friday afternoon, its Prime Now app was telling users that "delivery is currently sold out. Check back soon."
The service appeared to go down hours after its official launch on Thursday, according to media reports. Amazon spokesman Amanda Ip said the company was working to resume normal delivery service.
Amazon kicked off in Singapore last week with its most aggressive service yet. Using the Prime Now app, customers there can get tens of thousands of items -- everything from chilled Tiger beer to Samsung mobile phones -- delivered to their door with free delivery on orders of more than $29. The service is available as a free trial for a limited time in Singapore, before the company rolls out its Prime membership program.
The U.S. e-commerce giant's first venture into Southeast Asia could spark fierce competition with Alibaba Group Holding Ltd., which has acquired control of Lazada Group SA and is said to be considering an investment in Indonesia's PT Tokopedia. The region of 620 million people is home to an e-commerce market forecast to reach $88 billion by 2025, according to a report by Google and Temasek Holdings Pte.
-- Bloomberg News
Apple ordered to pay $506M in lawsuit
MADISON, Wis. -- A judge on Thursday ordered computer-maker Apple Inc. to pay more than $506 million in a patent infringement case brought by the Wisconsin Alumni Research Foundation after the two sides agreed on final damages.
A jury in 2015 found Apple infringed on a patent held by the foundation, which supports research at the University of Wisconsin-Madison. The patent involves chip technology developed at the university. The technology was used in processors installed by Apple in a number of products.
The Wisconsin State Journal reported that last month, U.S. District Judge William Conley upheld a $234 million damage award made by the jury. He ordered the foundation and Apple to work on a final figure based on the number of units sold that contained the technology.
Cupertino, Calif.-based Apple has appealed the jury's findings.
-- The Associated Press
Trump says Apple promises 3 U.S. plants
President Donald Trump said Apple Inc. has committed to build three "big" manufacturing plants in the U.S., a move that would represent a major change in strategy for the world's most valuable company and boost the White House's long-held promise to return overseas factory jobs to America.
Trump told The Wall Street Journal last week that Apple Chief Executive Tim Cook told him the new factories were already in the works.
"I spoke to [Mr. Cook], he's promised me three big plants -- big, big, big," Trump told the Journal. "I said, 'You know, Tim, unless you start building your plants in this country, I won't consider my administration an economic success. He called me, and he said they are going forward.'"
Apple didn't respond to a request for comment.
The iPhone-maker has said little about its plans to increase manufacturing in the U.S. In May, Cook said Apple would invest $1 billion into a fund to promote advanced manufacturing stateside. The first recipient of that fund was Corning Inc., which makes glass for iPhone and iPad screens. The company, based in western New York, received $200 million from Apple.
-- Los Angeles Times
Foxconn incentives mostly to be in cash
MADISON, Wis. -- The bulk of the $3 billion tax-incentive package Wisconsin is offering manufacturing giant Foxconn to locate in the state would be paid out in cash and not in tax credits.
Under the deal unveiled Thursday that the Legislature would have to approve, the state would pay the company up to $200 million a year for 15 years. Gov. Scott Walker's administration described the payment as a tax credit, but because the state already waives all taxes on manufacturing credits in the state, the incentives would be paid as cash rather than a credit against taxes owed.
The Milwaukee Journal Sentinel first reported on that part of the deal Friday.
The money would not be paid until Foxconn hits investment and job creation targets, and it could be recovered if it lays off workers.
Wisconsin's deal with Foxconn requires the state Legislature to pass a $3 billion incentive package no later than Sept. 30.
Gov. Scott Walker and Foxconn Chief Executive Officer Terry Gou signed a memorandum of understanding Thursday at Milwaukee's art museum. The memorandum says Foxconn commits to investing $10 billion in Wisconsin and create 13,000 jobs over six years.
Wisconsin promises to extend $3 billion in tax breaks, but the Legislature must approve those incentives. The Republican-controlled Legislature is expected to consider them in a special session next month.
Walker on Thursday touted the deal as a once-a-generation opportunity that will transform Wisconsin's economy.
No site has been selected yet for the Foxconn plant, but the company is eyeing the southeast part of the state.
-- The Associated Press
CEO at GE on short list in Uber's search
Uber Technologies Inc. has set its sights on the business world's most seasoned chief executives to fill the leadership vacuum left by the departure of co-founder Travis Kalanick. Candidates for Uber CEO, including Jeffrey Immelt, must be capable of restoring confidence in the ride-hailing company after months of controversy.
Immelt, the outgoing CEO of General Electric Co., is on a short list of candidates to run Uber and prepare the business for an initial public offering, people familiar with the matter said. The company has been moving to narrow the list and name a successor to Kalanick, who was ousted under pressure from some of the company's major investors last month. Meg Whitman, CEO of Hewlett Packard Enterprise Co., had also been under consideration, but she publicly withdrew her name Thursday night, saying speculation of a possible move had been a distraction.
Uber's board met Thursday night to discuss the search and other matters, said one of the people, who asked not to be identified because the matter is private. The San Francisco-based company hopes to name a successor to Kalanick by early September. GE and Uber declined to comment.
Immelt, 61, is scheduled to step down this week from the CEO position at GE that he's held since 2001. John Flannery, a 30-year GE veteran, will take over, with Immelt remaining chairman until the end of the year.
Immelt embraced Silicon Valley in recent years and directed the creation a digital division in 2015 that he said could make GE a top 10 software company by the end of the decade. He has tried to bring startup strategies to the manufacturing behemoth, and GE even adopted the slogan "the digital industrial company."
-- Bloomberg News
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