Stocks mixed…Amazon broadens global reach, cuts deal with Best Buy…End nears for Bon-Ton Stores
NEW YORK (AP) – Stocks are wavering between small gains and losses in early trading on Wall Street as investors size up the latest company earnings and deal news. Gains in retailers and industrial companies are outweighing hefty losses in technology companies. Energy stocks are rising along with the price of crude oil.
SEATTLE (AP) – Amazon is expanding its dominance globally by giving overseas customers access to more than 45 million items via its app. Amazon’s “International Shopping” will be available through a mobile browser or app and goods will be shipped globally from the United States. The online powerhouse also announced today that it’s teaming with rival Best Buy on new Fire TV Edition smart TVs. The deal gives Best Buy exposure to Amazon’s customers for the first time, while introducing more people to Amazon’s technology.
NEW YORK (AP) – The end is near for department store operator The Bon-Ton Stores. Two liquidation firms are the victors of an auction for the bankrupt company’s assets, after the retailer failed to find a bidder willing to continue operating the business. Bon-Ton was operating 260 stores in 24 states, largely in the Northeast and Midwest, when it filed for bankruptcy in January. Liquidation firms Great American Group and Tiger Capital Group are the winners of the auction. A bankruptcy court hearing is scheduled for today to approve the sale and liquidation details.
LONDON (AP) – Facebook is introducing more privacy safeguards to users in Europe as part of efforts to comply with new rules meant to make it easier for consumers to give and withdraw consent for the use of their data. The company says it will begin asking European customers this week for permission to use features like facial recognition and some types of targeted advertising. The privacy law is the latest attempt by EU regulators to rein in the tech giants they blame for avoiding tax, stifling competition and encroaching on digital privacy rights.
DEARBORN, Mich. (AP) – Ford is getting into the non-emergency medical transportation business as it moves toward making money off its experimental ventures in new mobility. The automaker says its GoRide service is using 15 specially equipped vans to transport patients to more than 200 health care facilities in the Beaumont Health Network in the Detroit area. GoRide offers bedside-to-bedside service from houses and nursing homes to medical facilities, including wheelchair service. Ford plans to expand to other metro areas.