Amazon reportedly has plans to launch a new venture called the “Global Supply Chain by Amazon,” developing a global delivery network. A Bloomberg investigation of internal Amazon documents shows plans for the broad plan that would expand its Fulfillment By Amazon service.
Amazon is also expanding its logistics operations in China, another move further positioning the company to compete with shipping companies. The plans for China include handling cargo and customs for products shipped to ports in the U.S., Europe and Japan.
The International Energy Agency is warning of even lower oil prices in 2016. The Paris-based agency said it would be hard to imagine oil prices making any significant increases in the short term with the oil supplies being as high as they are.
That’s not good news for oil companies, who are continuing to make cuts to capital spending plans. Tullow Oil Plc. is the latest to report further reductions to spending, slashing about $300 million annually if oil prices remain low.