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By Foo Yun Chee and Jean-Baptiste Vey PARIS (Reuters) – Europe’s anti-trust chief warned Amazon on Monday against using its dominance to thwart rivals, a week after launching an investigation into the U.S. online retailer’s ebook deals with publishers. European Competition Commissioner Margrethe Vestager announced last week she would examine whether clauses in Amazon’s contracts prevent publishers from offering more favorable deals to competitors. Ebooks are a fast-growing industry and
By Yasmeen Abutaleb SAN FRANCISCO (Reuters) – Twitter Inc’s next chief executive officer faces a crucial challenge as the company seeks to appease Wall Street after last week’s management shakeup – helping disaffected advertisers connect with users. Twitter’s outgoing chief executive, Dick Costolo, resigned abruptly Thursday amid pressure from investors to increase the user base and improve what’s known as direct response advertising, the most lucrative type on the microblogging
U.S. stocks traded about 1 percent lower on Monday, following a decline in European equities on the collapse of weekend talks between Greece and its creditors.
Gun maker Colt Defense LLC filed for chapter 11 bankruptcy late Sunday, allowing for a quicker sale of operations in the U.S. and Canada. In its filing, the company estimated that it owes up to $500 million …
Pot may be legal in Colorado, but you can still be fired for using it. The state Supreme Court ruled Monday that a medical marijuana patient who was fired after failing a drug test cannot get his job back. …
Lumber Liquidators Holdings Inc terminated the employment of its chief merchandising officer, making him the latest top-level executive to leave the wood floorings retailer amid allegations it sourced laminates from China that contained excessive levels of a known carcinogen. Chief Executive Robert Lynch resigned in May, while CFO Daniel Terrell quit in April. The company said on Monday that Chief Merchandising Officer William Schlegel would leave on June 19.
U.S. homebuilders’ are feeling more confident about their sales prospects than they have been since last fall, while their outlook for sales over the next six months is at the highest level in 10 years. …
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CVS Health Corp. will pay $1.9 billion to buy Target Corp.’s pharmacies and clinics, expanding its reach by adding stores bearing its name inside the U.S. retail chain. CVS, which already has 7,800 drugstores, will acquire Target’s more than 1,660 pharmacies across 47 states, renaming them as CVS/pharmacy, the companies said today in a statement. All new Target stores with pharmacy services will include a CVS/pharmacy.
U.S. industrial production unexpectedly fell in May, likely as a strong dollar and energy spending cuts continued to weigh on manufacturing and mining output, bucking signs of an acceleration in the broader economy. Industrial output fell 0.2 percent after a revised 0.5 percent drop in April, the Federal Reserve said on Monday. The production side of the economy continues to struggle against the lingering effects of dollar strength and deep
