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.
Samsung reported better-than-expected operating profits in the third quarter.
Apple's latest event announced new Mac products and new chips and the company's latest line of Macbook Pros and iMacs were unveiled.
Stocks fell in the opening session Tuesday as earnings reports continued to pour in and as investors brace for the Federal Reserve's interest-rate decision on Wednesday.
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A flow of recent data from the U.S. government has made one thing strikingly clear: A surge in consumer spending is fueling strong growth, demonstrating a resilience that has confounded economists, Federal Reserve officials and even the sour sentiments that Americans themselves have expressed in opinion polls.
The U.S. Food and Drug Administration is warning parents and caregivers not to buy or serve certain pureed fruit pouches marketed to toddlers and young children because the food might contain dangerous levels of lead.
Some pumpkin farmers in the West, particularly wholesalers in places like Colorado and New Mexico, are feeling the pinching effects of drought.
General Motors and the United Auto Workers union have reached a tentative contract agreement that could end a six-week-old strike against Detroit automakers, three people briefed on the deal said.
Apple's 8pm ET event Monday will revolve around its iMAC computer lineup of products which are expected to contain its new faster and three next-generation silicon chip.
McDonald's reported better-than-expected profit and sales in the third quarter.
