Amazon slides after Trump tweets his 'concerns' about the e-commerce behemoth

30 March, 2018, 00:39 | Author: Sheri Evans
  • Global Affairs
Breakfast Briefing Alexa More Expelled Russians & Pricey Wine

Amazon stock is down more than 2% on an otherwise bullish day on Wall Street in the wake of tweets by President Donald Trump assailing the company's impact on retail, level of tax payments and straining of U.S. Postal Service resources.

Amazon shares dropped 4.4 percent Wednesday after Axios reported that Trump has wondered if there was a way to "go after" the company with antitrust or competition laws.

The Amazon logo is seen at the Young Entrepreneurs fair in Paris, France, February 10, 2018. "He's obsessed with Amazon", one source said. Truepoint Inc sold 572,667 shares as Amazon Com Inc (AMZN)'s stock rose 28.13%.

Amazon shares slumped more than four per cent yesterday in the wake of the Axios report, and amid a broad decline in the tech sector over the firestorm following revelations of the hijacking of personal data on millions of Facebook users.

First National Trust Co increased its stake in Amazon Com Inc (AMZN) by 22.78% based on its latest 2017Q4 regulatory filing with the SEC.

Egyptian media say election turnout was around 40%
After counting the ballots, the results will be sent to the National Elections Authority which will announce the final results on April 2.

"The president has expressed his concerns with Amazon". The stock decreased 1.39% or $19.8463 during the last trading session, reaching $1411.5737.

Trump has always been at odds with Amazon founder Jeff Bezos, a vocal opponent of the Republican in the 2016 election campaign.

It's true that a growing number of retail chains have closed stores, scaled back operations or filed for bankruptcy reorganization in recent years, partly due to their inability to keep pace with consumers' shift toward more Internet shopping.

Lou Kerner, a technology investor who blogs about the sector, said Trump's attack on Amazon "is a very populist thing to do" but that any new measures imposed on Amazon may do little for consumers or small businesses. White House press secretary Sarah Huckabee Sanders said later Wednesday that the administration isn't considering any changes in policy directed at the company.

"I have my concerns with Amazon long before the Election".

Huawei raises the bar with triple-camera phone and 40MP sensor
In the battery department, the phone draws its power from a non-removable user removable 4000 mAh Li-Po unit. The P40 Pro has a three camera setup with 40 megapixels (compared to the iPhone X and S9's 12MP).

"Amazon is doing great damage to tax-paying retailers. Towns, cities and states throughout the US are being hurt - many jobs being lost!"

The issue with Amazon, which had sales of $178 billion a year ago, mainly is over the sales tax that a consumer might or might not pay when making a purchase on Amazon's website.

Rep. Kristi Noem, a South Dakota Republican, has called for legislation requiring online retailers to collect sales tax. But a sales tax often is not collected on purchases made from third-party sellers that appear on Amazon's website, and critics contend that gives the web platform a price edge over other retailers that are required to collect a sales tax. (NASDAQ:AMZN) was sold by Olsavsky Brian T. Zapolsky David also sold $3.24 million worth of Amazon.com, Inc.

Years ago, when Amazon had few warehouses, it was able to get a competitive advantage by not charging sales tax. Despite Trump's claims, Amazon says it collects state sales taxes in 45 USA states and Washington, D.C. The President previously stated in a tweet "Why is the United States Post Office, which is losing many billions of dollars a year, while charging Amazon and others so little to deliver their packages, making Amazon richer and the Post Office dumber and poorer?"

Numerous people who take to social media to complain about Amazon don't have much of an impact on the company's overall business.

Germany friendly emotionally important for Brazil - Tite
Low's side sit top of the Federation Internationale de Football Association rankings and are now on a 22-match unbeaten streak. Toni Kroos and Germany meanwhile know they can not expect as easy a ride as they got in Belo Horizonte four years ago.

Recommended:



Popular

Rusty Staub, Mets legend and humanitarian, dies at 73
The six-time All-Star is the only player ever to have 500 hits with four different teams. Rusty Staub speaks during his induction into the Canadian Baseball Hall of Fame in St.

Rumour: Nissan, Renault to merge into single company
Nissan shareholders would also receive shares in the new company in exchange for their holdings, they said. Nissan shares had shed 0.5 percent to 1,094.50 yen in a market up 0.6 percent overall.

North, South Korea fix April date for first summit in years
As per the news reports from Yonhap news agency, the pair will hold a meet in the Peace House on the southern side of Panmunjon. President Donald Trump - is the culmination of diplomatic efforts after North Korea fired a flurry of missiles past year .

Apple's Health app can now display medical records from 39 health systems
Users can watch the hottest new videos, classics or ones from their favourite artists back-to-back in new music video playlists. As seen in the preview , iOS 11 .3 brings new Animoji for iPhone X users, as well as a couple of other new features.

Malala returns to Pakistan for first time since assassination attempt
While her campaigning has taken her around the world, Yousafzai has also harbored a desire to return to her homeland. Abbasi told the Nobel laureate that Pakistan defeated militants after a hard war since her departure.

Iran's Revolutionary Guards Deny Giving Missiles to Houthis
He denied that his country has supplied missiles to the Yemeni Houthi militants who target Saudi Arabia's inner posts. Khoshrou called on the Muslin world and the global community to pressure Saudi Arabia to stop war in Yemen.

US, South Korea strike a new trade deal
In response to new US tariffs on aluminum and steel, the two countries negotiated a compromise on steel tariffs. Other countries also must agree to similar quotas to escape tariffs, but the size of the limits would vary.

Saudi Arabia and SoftBank plan 200GW solar build
The venture also plans to build centers for research and development and education and training, he said. The project is expected to build out all 200 gigawatts of the project by 2030, Masayoshi Sons said.

White House: 'No Date Set' For Trump-Kim Jong Un Summit
But analysts said Kim may have sent a delegation of senior officials instead of visiting himself. The video did not show anyone getting off the train.

Announcing Logitech Crayon for iPad, Designed for Student Creativity in the Classroom
For more information on these, and other products for education from Logitech, visit www.logitech.com/edu/ipadsolutions . The keyboard has a spill-resistant design and is silent so as to not disturb other students.