Twenty four institutional investors in Amazon are putting pressure on the ecommerce group to increase transparency on where and how much it pays in tax around the world. The investors — who include asset managers Nordea, Royal London and several large European and US pension funds — are trying to get a shareholder resolution brought at the group’s annual meeting this year, which if passed would significantly overhaul the company’s tax public disclosures. The resolution demanding Amazon adopt a new reporting standard on tax practices was originally brought by a Catholic investment fund and UK public retirement scheme in December. Read More...
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C3.ai Shares Tumble as Deutsche Bank Tells Investors to Sell the Stock
C3.ai shares are taking a beating Friday, pressured by a negative research note from Deutsche Bank analyst Patrick Colville, who cut his rating on the stock to Sell from Hold, with a new price target of $18, down from $36. A provider of artificial intelligence software applications for enterprise customers, C3.ai (ticker: AI) posted financial results earlier this week that were generally well received. For the January quarter, the company posted revenue of $69.8 million, up 42% from a year ago, and ahead of both the company’s outlook range of $66 million to $68 million, and the Street consensus projection for $66.8 million.
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