Embattled Chinese telecommunications manufacturer ZTE may be alive after all. The company has agreed in principle to a settlement that would lift the Commerce Department ban preventing US companies from doing business with ZTE, according to a Reuters tweet on Tuesday. In exchange, ZTE would have to pay a total of $1.7 billion in penalties, according …
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We’ll call him “Mark.” About three years ago, Mark got an email from Amazon saying, “We noticed that a number of your orders have been returned.” It was the start of a rocky relationship with the world’s biggest e-commerce company. Several months later, Mark got banned from Amazon for making too many returns. But after a lot of trial and …
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President Donald Trump is doubling down on his defense of Chinese telecommunications giant ZTE. Trump said on Twitter on Monday that ZTE, the fourth-largest smartphone maker in the US by market share, “buys a big percentage of individual parts from U.S. companies.” HE also said ZTE was “reflective of the larger trade deal we are negotiating with China and my …
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Amazon is going back to its bookseller roots for its latest Prime program. The online retailer on Tuesday introduced Prime Book Box, a subscription service that offers curated boxes of hardcover books for kids up to age 12. Customers can pick whether to receive the boxes every one, two or three months. Each delivery costs $23, which Amazon says can …
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With six tweets three weeks ago, President Donald Trump threatened many of the massive gains Amazon has enjoyed throughout its 24-year history. After repeatedly calling out Amazon’s partnership with the US Postal Service — claiming the e-commerce giant was underpaying for shipments and engaging in a “scam” — he ordered a review of USPS finances and operations. The fusillades against …
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The annual price of an Amazon Prime membership in the US is going up by 20 percent. The e-commerce titan on May 11 will hike Prime’s fee to $119 a year from $99, finance chief Brian Olsavsky said Thursday during an earnings call with analysts. The new price will apply to existing Prime members’ renewals starting June 16. If your …
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Amazon and Best Buy want to sell you your next smart TV. The companies, which are two of the biggest electronics retailers in the US, on Wednesday revealed a new multiyear partnership to sell the next generation of TVs running Amazon’s Fire TV operating system to customers in the US and Canada. Best Buy will be the exclusive seller for more …
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Amazon founder and CEO Jeff Bezos revealed Wednesday that its Prime membership service has over 100 million paid customers worldwide. The company hasn’t previously offered a specific number about its Prime members, instead keeping the size of one of its most important businesses a secret until now. Amazon has previously said it has tens of millions of Prime members in …
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President Donald Trump on Thursday ordered an evaluation of the US Postal Service’s finances, after weeks of accusing Amazon of not paying its fair share of postage. In an executive order, Trump created a task force, chaired by Treasury Secretary Steven Mnuchin, to evaluate the Postal Service’s finances and operations. The order directs the task force to issue a report …
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President Donald Trump is not shy about sharing his opinions, particularly about the many things he doesn’t like. Still, it appears the stock market was caught off guard by a story from Axios on Wednesday that said Trump is considering going after the largest e-commerce company in the world — already one of his favorite targets. Amazon’s shares fell about …
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