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Amazon stock experienced a 15 percent gain yesterday on the strength of its first quarter earnings report. The report showed evidence that the company is transitioning from a retailer selling books, DVDs, and video games to more of a digital merchant.
Apple, along with 5 of the nation’s largest publishers have had an antitrust lawsuit filed against them. The US filed the suit on Wednesday, alleging they have conspired to limit competition in the e-book market by adjusting their prices.
The Department of Justice is suing Apple and major book publishers like Macmillan and HarperCollins over the pricing of e-books.
Amazon announced on Tuesday that it will begin accepting in-app payments from its online marketplace.
The U.S. Justice Department has reportedly accused Apple and five large American publishers of colluding to raise the price of e-books.
- The practice of two or more parties jointly purchasing all or part of a butchered cow and dividing the meat between them.