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The US Federal Trade Commission (FTC) and 22 states sued Amazon on Monday for allegedly "manipulating" online auctions for digital advertising, resulting in more than $20 billion in overcharges for 1.2 million customers.Amazon "has secretly and systematically overcharged its approximately 1.2 million advertising customers by manipulating the 'auctions' that it uses to set the price of ads on its platform," says the complaint, filed in a federal court in Washington state.

The Federal Trade Commission and 22 states filed a lawsuit against online retailer Amazon on Monday claiming that it defrauded advertising customers. The lawsuit, filed in the U.S. District Court in the Western District of Washington, claims that Amazon overcharged 1.2 million advertising customers by misleading them on prices for online auctions for ads. The complaint says Amazon said it was offering competitive prices on several ad products when it was actually inflating auction prices.

Amazon is facing a new lawsuit from the FTC and 22 states for allegedly secretly charging businesses more for advertising.

The FTC plans to file a lawsuit against Amazon that will allege the company manipulated prices businesses paid to advertise on its retail platform.

AMZN stock dropped on Monday after a Wall Street Journal report said the FTC plans to sue the company over how it prices ads on its retail site.

Shares of Amazon dropped about 3% in afternoon trading and were recently on pace for their largest percent decrease since July 23, when they fell 4.6%. The Wall Street Journal reported today that the Federal Trade Commission plans to file a lawsuit against the e-commerce giant, alleging it manipulated prices to deceive advertisers into paying higher prices to promote their products.

Key takeawaysThe FTC and more than 20 state attorneys general reportedly plan to sue Amazon over its advertising-auction practices. Regulators are expected to allege that undisclosed price floors increased advertisers’ costs and generated tens of billions of dollars for Amazon.

Investing.com -- Amazon.com Inc shares fell 2.8% on Monday following a report by the Wall Street Journal that the Federal Trade Commission will file a lawsuit against the company over allegations related to its advertising pricing practices.

Zoom reported adjusted earnings of $1.55 a share for the quarter, up from $1.53 a year ago and above analysts’ expectations for $1.48, per FactSet.

Zoom’s multibillion-dollar stake in Anthropic will be investors’ key focus when the video-calling platform reports earnings on Tuesday afternoon.

Chamath Palihapitiya sees three converging forces that could choke off the AI infrastructure boom, and the companies with the most to lose are not the ones you might expect.

PDD (PDD) reported second-quarter earnings ahead of Wall Street estimates on Monday even as operatin

Aug 21 (Reuters) - U.S. stock index futures inched up on Friday following a battering in the last session, in a week that saw elevated government bond yields and heightened geopolitical tensions weigh

Alibaba's (BABA) fiscal first-quarter earnings missed expectations even as revenue edged past Wall S

Alphabet Inc. is poised to pay just under 7% to borrow longer-dated funds in its debut Australian dollar bond deal, in potentially its highest-ever coupon, underscoring how broader demands for cash among hyperscalers around the world are feeding into more costly funding almost everywhere.

Nvidia stock is in a base headed into earnings next week. Shares are above an early buy point of 224.76.

By Greg Bensinger Aug 14 (Reuters) - Amazon on Friday reinstated binding arbitration for its U.S. customers while also barring them from seeking class-action lawsuits, making it more difficult for

Fenway Sports Group sold a minority stake in Liverpool FC, with Amazon.com Inc. co-founder Jeff Bezos joining the ownership of one of the world’s most famous sports teams.

The Federal Reserve now looks somewhat unlikely to raise interest rates at either of the next two meetings after a weak July retail sales report further assuaged concerns that the economy may be overheating. Last Friday's weak jobs report and the even weaker retail sales report "are bad news for workers and consumers, but potentially good news for the stock market, because it reduces the urgency at the Fed to raise rates to fight too-high inflation," wrote Chris Zaccarelli, chief investment officer at Northlight Asset Management.

Jeff Bezos filed a Form 144 with the Securities and Exchange Commission on Aug. 3, proposing to sell up to 15 million Amazon shares worth approximately $4.07 billion. Within the same week, Sky Sports reported that Bezos had joined a consortium closing in on a deal for a roughly one-third ...

Zoox CEO Aicha Evans backed stronger federal oversight of autonomous vehicles as the Amazon.com Inc. subsidiary began charging passengers for driverless rides in Las Vegas, weeks after a smoke-related safety incident forced a fleetwide software recall. Zoox Backs Regulation as...

(Bloomberg) -- Apple Inc. was downgraded to an underperform rating at Jefferies, in the latest example of growing bearishness toward the company.Most Read from BloombergChina Unleashes $28 Trillion Capital Markets to Challenge US in AIIran Shakes Up Security Team After Saying Oman Deal ‘Very Close’Stocks Waver Near Record Highs, Crude Oil Advances: Markets WrapTrump Amps Up Pressure on Billionaire Sargeant to Exit VenezuelaIran Says Hormuz Deal Close But Its Conditions Must Be MetAnalyst Edison

Sandisk shattered Wall Street estimates for its fiscal fourth quarter as relentless hyperscaler demand for AI data storage triggered severe capacity bottlenecks and surging memory chip prices.

(Bloomberg) -- Jeff Bezos unloaded almost $350 million in Amazon.com Inc. stock as it hit a record on Monday, his first sale of the company’s shares this year.Most Read from BloombergIran Says Agreement on Hormuz Shipping Reached With OmanSpaceX’s AI Splurge Puts a Damper on First Earnings After IPOTrump Says Iran Talks Going Well as Hopes Rise for Hormuz DealChina’s AI Blitz Creates ‘Death Zone’ for Rival US Model MakersTaco Bell Met With Michigan on Parasite Weeks Before RecallThe transaction,

The storage and memory maker is scheduled to report fiscal fourth-quarter financials after the stock market closes on Wednesday.

Pinterest is scheduled to report second-quarter financial results after the stock market closes on Tuesday.

Amazon.com, Inc. (NASDAQ:AMZN) founder and executive chairman Jeff Bezos is planning to sell up to 15 million Amazon shares worth approximately $4.07 billion. Bezos’ Amazon Stock Sale Is Tied to a Prearranged Trading Plan A Form 144 filing submitted to the Securities and Exchange Commission on Monday showed that Bezos intends to sell 15 million shares of Amazon common stock through Morgan Stanley Smith Barney LLC. The proposed transaction was valued at approximately $4.07 billion based on the ma

SummaryView Transcript While the freight market shows resilience, UPS earnings paint a different picture, raising questions about Amazon’s impact and the carrier’s restructuring. Meanwhile, truck OEMs like PACCAR are reporting strong performance, indicating robust demand and favorable pricing ahead. Christopher Versace breaks down the Q2 earnings season in logistics and transportation. UPS stock sold off […] The post Trucking Earnings: Why UPS Is Falling Behind in a Robust Market appeared first

Fed Chair Kevin Warsh reassured markets about a resilient economy, but geopolitical uncertainty remains the major factor for most interested parties right now.

Corning's third-quarter sales forecast missed expectations despite continued demand for AI data-center infrastructure.