In this Oct. 1, 2020 file photo, an Amazon Prime logo appears on the side of a delivery van as it departs an Amazon Warehouse location in Dedham, Mass. Amazon is paying nearly $62 million to settle charges that it took tips from its delivery drivers. The Federal Trade Commission said Tuesday, Feb. 2, 2021, that for more than two years, Amazon didn’t pass on tips to drivers, even though it promised shoppers and drivers it would do so. (AP Photo/Steven Senne, File)
Amazon is paying nearly $62 million to settle charges that it took tips from its delivery drivers. The Federal Trade Commission said Tuesday that for more than two years, Amazon didn’t pass on tips to drivers, even though it promised shoppers and drivers it would do so. The FTC said Amazon didn’t stop taking the money until 2019 when the company found out about the FTC’s investigation. Seattle-based Amazon.com Inc. did not immediately respond to a request for comment Tuesday. The online shopping giant will pay $61.7 million to settle the charges, which the FTC said will go back to drivers.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
