Business

Reuters reports: Amazon’s Prime Day is losing its luster among a critical group: sellers. Some third-party merchants who previously sold China-made goods during Amazon’s premier July shopping event are sitting it out this year or reducing the amount of discounted merchandise they offer. The planned pullback, which hasn’t been previously reported, is a way for sellers to protect profit margins …

Supermarket News reports: Albertsons is taking a hard-line approach with suppliers regarding cost increases tied to tariffs. Omer Gajial, the grocer’s head of merchandising, told suppliers via letter that Albertsons will not accept cost increases. Those wishing to propose a price change must follow a multi-step process, Forbes reported. The letter, sent in March, stated that suppliers may not include …

Forbes reports: Nearly two-fifths of corporations plan on scaling back engagement for LGBTQ Pride Month this June, while another two-fifths said their support would remain unchanged, according to a survey of corporate executives by Gravity Research. Of the 49 executives surveyed from Fortune 1000 companies, those who said they were pulling back on Pride support cited pressure from conservative activists …

Politico Europe reports: The European Commission issued the first fines under its Digital Markets Act on Wednesday, slapping tech giants Apple and Meta with penalties for breaching the EU’s new digital rulebook. Apple faces a €500 million fine for breaching the regulation’s rules for app stores, while Meta drew a penalty of €200 million for its “pay or consent” advertising …

Reuters reports: Tesla CEO Elon Musk said on Tuesday he would cut back “significantly” the time he devotes to the Trump administration from next month and spend more time running the electric-vehicle maker. Tesla shares, which had risen 4% in after-hours trading right before an earnings conference call began, spiked to trade up 5.5% on Musk’s comments. The remarks came …

The New York Times reports: Tesla said Tuesday that its profits fell 71 percent in the first three months of the year, which could increase the pressure on Elon Musk, the automaker’s chief executive, to curtail his work for President Trump and spend more time managing the company. The company said it earned $409 million, down from $1.4 billion in …

Electrek reports: Former Tesla engineer Cristina Balan, who was fired in 2014, said in an interview that her entire team was threatened with deportation for taking her side when she brought up a brake safety issue directly to Elon Musk. She’s now succeeded in throwing out Tesla’s arbitration case against her, and hopes to meet Tesla directly in open court …

Courthouse News reports: The Federal Trade Commission (FTC) filed a lawsuit on Monday against Uber, accusing the ride-share giant of enrolling users in its Uber One subscription service without consent, failing to honor promised savings and creating a labyrinthine cancellation process in violation of federal consumer protection laws. In the complaint, filed in the U.S. District Court for the Northern …

The Associated Press reports: Walgreens has agreed to pay up to $350 million in a settlement with the U.S. Department of Justice, who accused the pharmacy of illegally filling millions of prescriptions in the last decade for opioids and other controlled substances. The nationwide drugstore chain must pay the government at least $300 million and will owe another $50 million …

Reuters reports: U.S. President Donald Trump met with major retailers, including Walmart, Home Depot,Lowe’s and Target on Monday to discuss broad-based tariffs likely to raise the cost of everyday goods that they import. Big U.S. chains, like Walmart and Target, rely heavily on imported goods, and tariffs — including 145% levies on China — are expected to add strain on …

The Daily Beast reports: On Monday Meta will join a strange crew of sponsors hopping to the White House for its annual Easter Egg Roll, just blocks from the courthouse that will decide the company’s fate.  Melania Trump on Friday announced how eggcited she is for the partnership, which includes Meta’s “AI-Powered Experience and Photo Opportunity.” But critics say it’s …

The New York Times reports: Google acted illegally to maintain a monopoly in some online advertising technology, a federal judge ruled on Thursday, adding to legal troubles that could reshape the $1.88 trillion company and alter its power over the internet. Judge Leonie Brinkema of the U.S. District Court for the Eastern District of Virginia said in a ruling that …

The Telegraph reports: China has barred its country’s airlines from accepting deliveries from Boeing in retaliation against Donald Trump’s tariffs. Boeing has been caught in the middle of the clash, losing access to one of the world’s biggest aviation markets in the process. The ban will apply to all existing orders from the US manufacturing giant, while Beijing has also …

Axios reports: The Federal Trade Commission and Meta will square off in a long-awaited antitrust trial on Monday over the tech giant’s past acquisitions of WhatsApp and Instagram. The trial will be a major test of the FTC’s ability to take on tech behemoths for allegedly breaking antitrust law and comes as Meta CEO Mark Zuckerberg tries to cozy up …

Forbes reports: Tesla’s stock has slid steadily this year, hurt by declining sales and widespread protests over CEO Elon Musk’s leadership of President Trump’s DOGE initiative, which is making haphazard staffing and budget cuts to federal agencies. The electric vehicle maker’s sharp-edged Cybertruck is also sliding, posting sharply lower sales in the year’s first quarter. The Austin-based company delivered just …

CNBC reports: Stocks fell Thursday, giving back some of the gains from the historic rally seen in the previous session after Trump announced a 90-day reprieve on some of his “reciprocal” tariffs. Investors worried that even with the short pause on some of the duties, economic activity will be slowed by Trump’s singling out of China with a much higher …

CNBC reports:  Amazon CEO Andy Jassy said Thursday the company is still digesting the impact of President Donald Trump’s sweeping tariffs, but that its vast network of third-party sellers may “pass that cost on” to consumers. “I understand why, I mean, depending on which country you’re in, you don’t have 50% extra margin that you can play with,” Jassy said …

The Associated Press reports: U.S. egg prices increased again last month to reach a new record-high of $6.23 per dozen despite President Donald Trump’s predictions, a drop in wholesale prices and no egg farms having bird flu outbreaks. The increase reported Thursday in the Consumer Price Index means consumers and businesses that rely on eggs should not anticipate immediate relief. …

Reuters reports: Chinese companies that sell products on Amazon are preparing to hike prices for the U.S. or quit that market due to the “unprecedented blow” from President Donald Trump’s tariff hikes, the head of China’s largest e-commerce association said. Trump said on Wednesday he would raise tariffs on Chinese imports to 125 per cent from the 104 per cent …

Axios reports: The Trump administration’s massive tariffs on China have Apple flying planes full of iPhones to the U.S. and consumers rushing to buy them before the prices potentially skyrocket. U.S. consumers are rushing to stores to buy iPhones in anticipation that the new tariffs will prompt Apple to raise prices. Some customers told the WSJ that they aren’t waiting …