Afternoon Coffee: Automated Warehouses Boost Amazon’s Profits, Trucking Companies Benefit from Low Diesel Prices

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Amazon attributes its surprise jump in profit during Q2 to a rise in automation at its warehouses. The use of robotics has allowed Amazon to cut costs. “We’re using software and algorithms to make decisions rather than people, which we think is more efficient and scales better,” Amazon Financial Chief Brian Olsavsky said.

The drop in diesel prices has allowed trucking companies to significantly reduce operating costs. Diesel prices are actually lower than gasoline in 21 states and down 28% from a year ago.

US factory activity increased during July, Markit’s US purchasing managers’ index report showed. The index reached 53.8 in July, up from 52.6 in June.

Fiat Chrysler is recalling about 1.4 million cars to prevent hackers from accessing the vehicles’ computer software. Owners of the recalled vehicles can contact the automaker for a software update.

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