Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Evercore Reaffirms Alphabet’s Search Dominance as AI Competition Intensifies 
China Adds Domestic AI Chips to Government Procurement List as U.S. Considers Easing Nvidia Export Curbs 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
GameStop Misses Q3 Revenue Estimates as Digital Shift Pressures Growth 
EssilorLuxottica Bets on AI-Powered Smart Glasses as Competition Intensifies 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Jeff Bezos, the main man behind Amazon, is vacating his post as the company’s chief executive officer. The world’s richest person on earth is stepping down later this year and would be taking on a new role.
The announcement names the new Amazon CEO
Jeff Bezos said that as he leaves the CEO post, he will be transitioning as Amazon’s executive chair in the third quarter of 2021. He will be replaced by Amazon Web Services’ chief Andy Jassy.
The billionaire announced the change of his title on Feb. 2, and he did this by sending an email to his employees. The note was also published on Amazon’s own website on the same day.
“I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO,” Jeff Bezos wrote. “In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives.”
He added, “Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.”
A few hours after it was revealed that Jeff Bezos is stepping down as Amazon’s chief, his company’s shares have increased a bit. The tech and online retailer firm hit on both earnings per share and revenues.
Who is Andy Jassy?
Jeff Bezos’ successor has been with Amazon for 24 years. He joined the company in 1997, just after he took his final exams at the Harvard Business School.
As per the Daily Mail, he was the one who built Amazon Web Services and turned it into the $40 billion internet-dominating business that it is today. The 52-year-old Andy Jassy was also the executive who canceled the controversial Parler app service from AWS’ platform.
Jassy grew AWS into a cloud platform that is now being used by millions and has already surpassed other players in the field, including Microsoft and Oracle. Today, under his leadership, Amazon Web Services owns nearly half the world’s public cloud infrastructure business.
“Jassy’s background in steering AWS shows just how top-of-mind those services are to Amazon’s business strategy,” The Guardian quoted chief transformation officer at Mindshare Worldwide, Tom Johnson, as saying regarding Jassy’s promotion. “It will be interesting to see how that affects their strategy and balancing that priority with a growing ad business and the commerce behemoth.”
