AMAZON CLOSES IN ON APPLE’S TOP SPOT… Antitrust Push Slowly Gains Ground

Amazon Closes in on Apple’s Top Spot

Amazon.com Inc. is making another run at the title of world’s most valuable company. The e-commerce giant ended Wednesday’s trading session with a market value of $894 billion, according to the WSJ Market Data Group. That puts the Seattle-based company just $42 billion shy of Apple Inc.’s world-topping market capitalization. Apple overtook  Corp. in 2011 […]

Amazon Antitrust Push Slowly Gains Ground

When President Donald Trump slams Amazon on Twitter, it is easy to dismiss the attacks as social media bluster, motivated by antipathy towards Amazon CEO Jeff Bezos because of his personal ownership of the Washington Post. But there are other signs that Amazon critics are gaining influence in Washington, D.C., with arguments that the company’s market power should be reined in.

Last week, one of the most vocal of those critics, Lina Khan, was hired at the Federal Trade Commission as the agency prepares for hearings on competition and consumer protection this fall. Ms. Khan is one of the leading proponents of the idea that conventional antitrust enforcement needs to be rethought in the era of giant tech platforms like Amazon. Members of Congress are starting to speak out on Amazon’s power, and their voices are likely to get a boost if Democrats retake Congress after the midterm elections.

 

BEZOS LAUNCHES ROCKET HIGHER THAN EVER BEFORE

 

Jeff Bezos’s Blue Origin rocket company has shot a capsule into space higher than it ever has before.

The test of the New Shepard rocket has been a roaring success after taking off from west Texas. And it also tested a innovative way of coming back down: a crew capsule that will allow potential astronauts to escape at any point during the flight, allowing them to flee in the case of emergencies.

When the booster separated, that capsule’s escape motor fired, lifting the spacecraft to an altitude of 389,846ft – or 74 miles.

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