Australia's competition watchdog ACCC has taken Amazon's Australian unit to court, alleging unfair contract terms that forced over a million annual Prime subscribers to accept ads on Prime Video or pay extra for an ad-free option. The ACCC claims Amazon introduced these terms between November 2023 and August 2025 without offering refunds for cancellations. The regulator seeks consumer redress, penalties, and other orders. Amazon says it is reviewing the case and cooperating with the ACCC.
In 2026, semiconductor stocks have surged due to strong demand driven by artificial intelligence, while the 'Magnificent Seven' group of major tech companies, including Alphabet, Meta, Amazon, Apple, Microsoft, Nvidia, and Tesla, has struggled. This ...
Rocket Lab is acquiring Iridium Communications in an $8 billion cash-and-stock deal to combine its rocket launch and satellite manufacturing business with Iridium’s global low-Earth-orbit satellite network and valuable wireless spectrum rights. This ...
Kobo has partnered with StoryGraph, a popular reading tracker, to allow automatic syncing of reading progress on Kobo devices with StoryGraph accounts. This integration, now live, makes Kobo the first eReader to connect with StoryGraph's book communi...
Amazon's shares increased nearly 4% following reports of stronger-than-expected consumer spending during its Prime Day event from June 23-26. Adobe Analytics data showed US online retail sales reached $26.4 billion, a 9.3% rise from last year and sli...
Amazon's Prime Day event generated a record $26.4 billion in U.S. online spending over four days, slightly surpassing Adobe's estimate of $26.3 billion. The sales surge was driven by steady discounts on electronics, apparel, and toys, with consumers ...
