Recession? What Recession?

Online retailer Amazon reported a 68% rise in net profits for the first quarter of the year to $299m (£194.5m). Turnover was up by 9% to $2.2bn, while total sales jumped by 46% to $7.13bn - more than expected by analysts.

However its forecast for the April-June period were lower than what investors had hoped, and shares in the firm fell 6% in after-hours trading. Its Kindle electronic reader has helped sales but it faces a market share battle against Apple's new iPad.

Amazon will start selling the Kindle at some Target stores later this month. It can only currently be bought on the Amazon website.

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