By Joseph Pisani
Getting an Amazon package delivered from the sky is closer to becoming a reality.
The Federal Aviation Administration said Monday it had granted Amazon approval to deliver packages by drones.
Amazon said that the approval is an "important step," but added that it is still testing and flying the drones. It did not say when it expected drones to make deliveries to shoppers.
The online shopping giant has been working on drone delivery for years, but it has been slowed by regulatory hurdles. Back in December 2013, Amazon CEO and founder Jeff Bezos said in a TV interview that drones would be flying to customer's homes within five years.
Last year, Amazon unveiled self-piloting drones that are fully electric, can carry 5 pounds of goods, and are designed to deliver items in 30 minutes by dropping them in a backyard. At the time, an Amazon executive said deliveries to shoppers would be happening "within months," but more than 14 months have passed since then.
Seattle-based Amazon is the third drone delivery service to win flight approval, the FAA said. Delivery company UPS and a company owned by search giant Google won approval last year.
Taking a look at investment strategy as the new year gets into full swing.
Americans stepped up their spending in December more than expected, closing out the holiday season and the year on an upbeat tone. The Commerce Department said retail sales rose 0.6% in December compared with a November’s 0.3% increase.
A New York architect charged in a string of slayings known as the Gilgo Beach killings was accused in a 25-year-old Connecticut woman's death.
Uber purchased Drizly in a cash-and-stock deal for $1.1 billion in 2021. The drink delivery app will shut down in March, according to Uber.
After Donald Trump's victory at the Iowa caucus, Nikki Haley and DeSantis continue their campaigns as New Hampshire's primary looms.
Christine Short, VP of Research at Wall Street Horizon, shares insights on small and big banks earnings, a fresh round of layoffs in the tech world, and what to expect from upcoming rate decisions.
More executives are feeling better about the global economy. But a growing number don’t think their companies will survive the coming decade without a major overhaul because of pressure from climate change and technology like artificial intelligence.
The International Olympic Committee has signed the first beer brand in the 40-year history of a sponsorship program that earns billions of dollars for the organization and international sports.
The latest calculations from several science agencies showing Earth obliterated global heat records last year may seem scary. But scientists worry that what’s behind those numbers could be even worse.
Along with the $122 million from delinquent millionaires in October, nearly half a billion dollars in back taxes from rich tax cheats has been collected.
Load More