President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
China's state media is putting up a brave front as the country's trade war with the U.S. escalated sharply over the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
U.S. stock futures surged Monday morning after President Trump said China is ready to come back to the negotiating table following a phone call Sunday and the two countries...Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Amazon is making one-day shipping the standard for Prime members.
Chief Financial Officer Brian Olsavsky said on the company's first-quarter earnings call on Thursday that it plans to shorten the current two-day default free shipping plan by one day for Prime members.
"We're currently working on evolving our prime free two-day shipping program to be a free one-day shipping program, " Olsavsky said.
In order to make the change, Amazon is expected to spend $800 million in the second quarter improving warehouses and delivery infrastructures, Olsavsky said. The investment will cut into Amazon's profit margins, and the company gave lower-than-expected earnings guidance for the period.
Amazon already offers one-day and two-hour shipping to Prime members for certain products and at an additional cost. But the change would significantly expand the number of product selection and zip codes eligible for one-day free shipping, Olsavsky said. Amazon says over 100 million items are currently available for free two-day shipping on its site.
The change will first take place in the North American market, Olsavsky noted, but is designed to expand globally, across all countries that offer Prime memberships. Amazon said last year that it has over 100 million Prime members worldwide.
Olsavsky said the company would use "all of the available levers" for free one-day shipping, including existing partners like the U.S. Postal Service and UPS, as well as Amazon's own third-party delivery network. But he declined to give specific details, like the timeline for the rollout, saying the move involves many different moving parts.
"We're taking a significant step," he said.