Amazon (AMZN) is the last of the "magnificent seven" tech stocks that Yahoo Finance Tech Reporter Allie Garfinkle is profiling. Garfinkle discusses how the company is "trying to balance efficiency and growth moving forward," as well as the strength of Amazon's e-commerce business.
Amazon stock: Why the company is 'walking a tightrope'
09/21/2023 04:24
Amazon (AMZN) is the last of the "magnificent seven" tech stocks that Yahoo Finance Tech Reporter Allie Garfinkle is profiling. Garfinkle discusses how the company is "trying to balance efficiency and growth moving forward," as well as the strength of Amazon's e-commerce business.
Reuters
Lawyers who sued Tesla board for excess pay want $10,000 an hour
A legal team that forced Tesla's directors to agree in July to return more than $700 million in compensation to the automaker for allegedly overpaying themselves are now seeking a huge payday of their own. The lawyers want a judge to approve $229 million in fees, or $10,690 an hour, according to a Sept. 8 filing in Delaware's Court of Chancery. The sum would be distributed among lawyers from four firms that spent several years building a case against the compensation paid to Tesla's directors from 2017 to 2020.
Reuters
Amazon drops planned merchant fee as FTC lawsuit looms - Bloomberg News
The reported turnaround in Amazon's plans comes when the e-commerce giant is facing a potential antitrust lawsuit from the U.S. Federal Trade Commission. The move suggests the company is taking a more cautious approach to how much money it can charge online sellers, the Bloomberg report said. Effective Oct. 1, Amazon was planning to impose a new 2% fee on every sale by third-party sellers that ship their products themselves, according to media reports in August.
Barrons.com
Square and PayPal Are Getting New CEOs. What It Means for Their Stocks.
Both PayPal (ticker: PYPL) and Block (SQ)-owned Square will have new chief executives in the coming weeks. While PayPal’s shift was part of a succession plan communicated to Wall Street earlier this year, Square’s transition was more sudden, with plans announced via a regulatory filing after this past Monday’s close. The onset of the pandemic led to a surge in e-commerce and contactless payments—areas where PayPal and Block operate—and aspirations well beyond their core competencies.