Amazon.com Inc. agreed to pay $2.5 billion in penalties and refunds and change its process for how to cancel its Prime subscription to settle a lawsuit by the US Federal Trade Commission.The company will pay $1 billion in civil penalties and will refund $1.5 billion to customers to resolve allegations that it misled millions of customers into signing up for Prime and then making it intentionally difficult to cancel, according to court records. FTC Chairman Andrew Ferguson said in a statement that the agency ...

Amazon reached a $2.5 billion settlement with the Federal Trade Commission (FTC) on Thursday over whether the e-commerce giant used “deceptive methods” to sign up consumers for Prime subscriptions, then made it “exceedingly difficult” to cancel. Most Read from Fast Company The agency argued Amazon enrolled millions of customers in Prime subscriptions without their consent, and knowingly made it difficult for consumers to get out of the agreement. That settlement, which comes just three days into the ci ...

After a string of strong gains that pushed major benchmarks to record levels, Wall Street eased on Tuesday. The S&P 500 fell 0.55% to 6,656.92, the Nasdaq declined 0.95% to 22,573.47, and the Dow Jones Industrial Average edged down 0.2% to 46,292.78.These are the top stocks that gained the attention of retail traders and investors throughout the day.Micron Technology Inc. MUMicron Technology’s stock rose by 1.09%, closing at $166.41. The stock reached an intraday high of $168.99 and a low of $165.23. Its 52 ...

Amazon is preparing to shut down all of its Amazon Fresh stores in the UK, just four years after the US tech company launched its first grocery shop in London.The company plans to close all 19 Fresh stores, with plans to convert five of these into Whole Foods Market shops, the US organic grocery chain that it bought in 2017.Amazon launched its first Fresh store in 2021 in Ealing, west London, that allowed customers to walk out with their shopping without having to use a till.Instead, shoppers use an app to ...

Investing in the broader market can make you rich, but it can take a very long time. These stocks did it much faster. The S&P 500 index, arguably the most consistent and proven long-term wealth-building investment mechanism in modern history, averaged a return of 8% per year from 1928 through 2024, which included some big up years and some big down years. If you could get an 8% return every year, you could turn $1,000 into $1 million in about 90 years. Admittedly, that's a long time. They are rare, practica ...