Amazon to double cashback rewards on fuel purchases as fuel prices rise – Yahoo Finance


Wednesday, April 20 at 2 PM ET, Bill Smead joins Jared Blikre to discuss the massive rotations catching investors off guard.
(Reuters) – Amazon.com Inc is launching a program to double cashback rewards on fuel purchases to up to 12% for Amazon Flex debit cardholders, to help Flex delivery partners amid a rise in fuel prices.
Amazon Flex, which works like on-demand ride-hailing service Uber, handles speedy deliveries of common household goods to customers through programs like Prime Now and Amazon Fresh. Drivers, who use their own vehicles, usually earn over $26 an hour on average in the United States.
The move comes as prices for gasoline have soared more than 20% from last month, driven by higher crude oil rates due to the Russian invasion of Ukraine.
"We are continuing to closely monitor this situation to determine if we need to make future adjustments to support our transportation partners," wrote Amazon in a blog on Wednesday.
Amazon also covers fuel costs for its delivery service partners as well as Amazon Freight Partners that enlists independent trucking companies to move goods between Amazon facilities.
Earlier this month, Lyft also said that Lyft Direct cardholders will receive an increase in cashback rewards of 4% to 5% on purchase of gasoline until June 30.
Rideshare and food delivery firms including Uber, Lyft and Doordash have announced surcharges to help drivers to cope with higher fuel prices..
(Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber)
"This was an *exceptionally* difficult quarter due to supply chain interruptions & China zero Covid policy," CEO Elon Musk tweeted.
Tesla is aiming to resume production at its Shanghai factory from Monday, two sources familiar with the matter said, as it expects to see its first batch of workers released from a lockdown the city imposed to combat a surge in COVID-19 cases. Production at the U.S. automaker's Shanghai factory, which produces cars for the China market and is also a crucial export hub, has been halted since March 28 as the government launched a two-stage lockdown that started in areas east of the city's Huangpu River where Tesla's plant is located. Still, Tesla's resumption plans could change due to Shanghai's evolving COVID-19 policies, one of the sources told Reuters.
Fisker believes it will potentially sell out capacity through most of 2023 with purchase orders of its premium models.
In this article, we discuss the 12 largest chip producers in the world. If you want to skip our detailed analysis of the chip manufacturing industry, its history, performance, and outlook for future growth, go directly to 5 Largest Chip Producers In The World. For a basic understanding of what a semiconductor is, let us […]
The Biden administration isn't rethinking its decision to cancel the Keystone XL pipeline in response to rising oil prices, says the White House's top economic advisor.
Commodity traders have started diverting sugar shipments away from Russia, according to industry sources and shipping data, a move set to further boost soaring domestic prices and ratchet up pressure on the Russian government to cool food inflation. Russia needed sugar imports this year after two successive shortfalls in the beet crop, and disruption to shipments will result in shortfalls as the country battles panic buying of sugar and other staples, industry experts said. Sugar is widely used in Russia, including for fruit preservation and making vodka.
(Bloomberg) — Russia’s huge gold industry is searching for new ways to sell its metal, such as exporting more to China and the Middle East, as sanctions choke off its traditional sales routes.Most Read from BloombergRussia Says Ukraine Choppers Made Rare Cross-Border StrikeUkraine Update: Russia Says Kyiv Makes Rare Cross-Border StrikeUkraine Update: U.S. Steps Up Military, Defense AssistanceNever Had Covid? You May Hold Key To Beating the VirusWill Smith, Facing Discipline Over Slap, Quits Fil
The Russell 1000 Index is a market-capitalization-weighted index of the 1,000 largest publicly traded companies in the U.S. It represents approximately 92% of the total market capitalization (market cap) of all listed stocks in the U.S. equity market. The company makes high value-added steel products, including its proprietary XG3 advanced high-strength steel.
Russian President Vladimir Putin's vow to cut customers off from its gas unless they start paying in roubles is more of a 'bluff' to ward off further sanctions than a genuine threat to stop supplying energy, according to European officials and analysts. Gas was flowing to Europe normally on Friday, and some experts reckon the new arrangement may be broadly the same as the old process of paying, with only a slight boost for the embattled Russian currency. Below is an outline of why, for now at least, Putin's gas ultimatum is considered bluster.
Shares of Tellurian were surging Friday after the stock was upgraded by Credit Suisse analysts, who cited optimism over the natural-gas producer’s future projects and increased demand for liquefied natural gas. Analyst Spiro Dounis raised his rating for the stock to Outperform from Neutral, and lifted his price target $8 a share from $5.50. The first is that Tellurian (ticker: TELL) is months away from wrapping up its financing for its liquefied natural gas production and export terminal in Louisiana.
The steel industry is part of the basic materials sector and consists of companies involved in steel production, mining, and related activities. Although steel historically has been a major U.S. industry, the number of steel mills that produce the metal has declined sharply in the past several decades due to foreign competition. The World Steel Association forecasts that steel demand will continue to increase this year, but at a much slower pace, rising 2.2%.
The automaker declined to say which parts are short, but said the closure was not due to semiconductors or the Ukraine-Russia conflict.
Chinese exports to Russia have been buffeted as the rouble swings in value, clear evidence of a ripple effect that Western sanctions over Russia's invasion of Ukraine are having in China, even as it sticks by its neighbour diplomatically. Chinese multinationals have stayed in Russia while their Western rivals flee but it is smaller Chinese companies that are more vulnerable to exchange rate losses, with several telling Reuters that much of their Russian business is on hold as both sides wait out the volatility. "The products I was supposed to send to Russia are sitting in my warehouse," said Deng Jinling, whose factory in eastern China makes vacuum flasks.
(Bloomberg) — A failed tender to build a bridge in Rome highlights another consequence of Moscow’s war: soaring steel prices.Most Read from BloombergUkraine Update: Russia Says Kyiv Makes Rare Cross-Border StrikeRussia Says Ukraine Choppers Made Rare Cross-Border StrikeNever Had Covid? You May Hold Key To Beating the VirusPutin Says Gas Exports to Be Halted If Ruble Payments Not MadeUkraine Update: Red Cross Says Mariupol ‘Safe Passage’ BlockedThere were no takers earlier this month for the 146
Two White House initiatives unveiled on Thursday show how President Biden is struggling to navigate an oil supply crunch without letting his clean energy goals blow even further off-course.Catch up fast: Biden announced the release of up to 180 million barrels of oil from the Strategic Petroleum Reserve and urged U.S. producers to speed up tepid production growth, too.Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for freeBut he's also invoking execut
Lower auto sales are due to tight supplies from the pandemic-fueled chip shortage. Demand remains robust.
Biden prods oil companies in fight to cut fuel prices, what to watch on Jobs Friday, Metaverse could become a $13 trillion market by 2030, and other news to start your day.
Natural gas markets continue to find buyers on dips, as we have seen in the extraordinarily large amount of bullish pressure. At this point, it is likely that we will have a big fight on our hands.
U.S. automakers on Friday reported a slump in first-quarter domestic sales, as the entire industry was slammed by chip shortages and disruptions to supply chains. Toyota, which in 2021 upstaged GM as the top-selling automaker in the United States, outsold the company in the first quarter on increased demand for its Lexus hybrid and electric vehicles. South Korea's Hyundai Motor and Kia Motors and Japan's Mazda Motor Corp all posted a drop in overall U.S. quarterly auto sales.
Philip Morris, the company behind Marlboro cigarettes, is plotting a major push into the cannabis sector with the inhaler maker it bought for £1bn in a heavily-criticised takeover last year.

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