Amazon, the US retail giant, has revealed it’s lost nearly $500m in the past three months, the largest amount in its history.

Jeff Bezos, Amazon’s chief executive and founder, has authorized the company to spend tens of millions of dollars developing drones, which could form the backbone of a new delivery network, and much more on new servers for Amazon Web Services, its online data storage business.

In the past, Amazon’s investors have been patient with Mr Bezos’ strategy, on the basis that any money it spends on growing its market share now will lead to riches down the line, on a par with Apple and Google which make billions of dollars every quarter.

However, Amazon’s losses have widened, stretching their patience to breaking point.

 

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Trade Balance (NZD)

Unemployment Claims (USD)

Retail Sales (GBP)

 

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Asian stocks fell Thursday after another slump in oil prices dragged Wall Street lower and China's manufacturing output grew at the slowest pace in five months.

CHINA ECONOMY: A preliminary reading of China's massive manufacturing industry for October provided mixed messages.

ENERGY: Oil prices extended losses after the US Energy Department reported an increase in oil inventories that was far larger than expected.

BIG EARNNGS: Later in the global day, major U.S. companies such as Microsoft, 3M, Amazon.com, Caterpillar and United Continental will be releasing earnings reports. Asian companies, including major Japanese names such as Toyota Motor Corp., are releasing their reports later in the month.

 

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French Flash Manufacturing PMI (EUR)

RBA Gov Stevens Speaks (AUD)

Overnight Rate (CAD)

 

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Coca-Cola said it plans to slash costs by $3 billion a year after the world's biggest beverage maker reported disappointing sales on flat soda volume.

The maker of drinks including Powerade, Sprite and Diet Coke said the savings will help fund the marketing that's needed to drive up sales.

As sales of their drinks have slowed, Coca-Cola and rival PepsiCo have both sought to improve their financial performance by trimming costs. In the US, they're also trying to boost sales by pushing "mini-cans" positioned as a way to control portions.

 

Trading Tip: This can greatly affect the Coca Cola share. Keep an eye out for more news.

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MPC Official Bank Rate Votes

MPC Asset Purchase Faciliy Votes

Fed Chair Yellen Speaks

 

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The dollar was flat against the yen on Friday, with the dollar pressured by weakness in the Nikkei Stock Average as a result of investors trying to avoid risk.

The dollar maintained its overnight strength against the yen earlier in the session, following bright US indicators such as weekly unemployment claims, industrial output and the Federal Reserve Bank of Philadelphia’s business activity index.

But the dollar gave up earlier gain later on as stock market weakness invited buying of the Japanese currency, which is considered a safe haven in times of financial instability.

 

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Core CPI (CAD)

Core Retail Sales

Asia Stocks and Dollar Stabilize

 

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