Abril 20, 2018

Amazon Shares End Decline Despite Another Trump Threat

05 Abril 2018, 08:58 | Gervasio Siguenza

Inc’s latest fulfilment centre

Inc’s latest fulfilment centre

Citing an unspecified report, Trump told reporters at the White House that the company was not paying the U. S. Postal Service a fair rate, and that it was costing U.

And while the post service has been running at a loss for more than a decade, Variety says that is more to do with federal orders to cover billions in pension and health-care costs.

The BBC reported that it was "unprecedented" for a sitting U.S. president to "single out" and attack a single company like this. "The record is clear: deviating from those processes undermines economic growth and job creation".

"Trump's distortions don't add up and are worthy of Three Pinocchios", said a Washington Post article, assessing the president's latest statements.

Amazon and Google already face off in the public cloud computing space, so the two companies should be accustom to battling it out for control of a key tech business. Trump has previously criticised automakers, Carrier Corp, which is owned by United Technologies and Boeing. According to Time, the only major toy seller left is Amazon, whose toy sales grew almost 12% in 2017.

The company's stock ended Monday's trade with a 5.2% drop in value after Trump's comments. Bezos, who also serves as the CEO of Amazon, has suffered a decrease in his own net worth, too. The S&P technology sector was down 1.32 percent, which caused the index to realize its worst monthly average losses in nearly two and a half years. Trump tweeted on Thursday.

Facebook stock continues to struggle as the company is still dealing with last month's data scandal. He criticized it last week over taxes.

He doubled down Tuesday morning with another attack on Amazon, criticizing the Post Office for being Amazon's "Delivery Boy" that is costing taxpayers "massive amounts of money". Or it may just be that we are looking back to when presidents, out of respect for the role businesses play in society, weren't known for singling out specific companies for repeated criticism.

According to the Citigroup study, the Postal Service loses an average of $1.46 on each package in its "competitive products" service, which includes all parcel services for retail customers and business clients, which not only includes Amazon, but also other large retailers like Walmart and eBay.

The tweets were published following an Axios report on Wednesday, March 28, stating that President Trump "hates Amazon", with unnamed sources reporting the President's expressed desire to "go after Amazon with antitrust or competition law".

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