Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. President Donald Trump on Thursday attacked Amazon on Twitter, one day after a report said he was "obsessed" with going after it. Trump tweeted about the company the day after the news website Axios reported that the president was considering action over the way the online giant is taxed and uses the US Postal Service. "I have stated my concerns with Amazon long before the Election," Trump tweeted. "Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!" Amazon's stock fell roughly 4% Wednesday following the Axios report, and it continued to slide as much as 3% in Thursday trading. Other tech giants continue to grapple with headwinds as well. Facebook is shutting down the use of third-party data for ad targeting as part of its Cambridge Analytica cleanup. At Tesla, an under-the-radar crisis is brewing. The company has lost over $5 billion in value this week — and its future looks ominous. Are robots Tesla's problem? Here's what else is happening: Lastly, Macy's is copying Amazon in its latest attempt to lure customers back to its stores. |
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