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.
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.