Friday, July 6th, 2018

eBay Launches a Sale That Looks to Counter Amazon’s Prime Day
Company Press Release
Amazon Prime Day

The company announced that on July 17th it launch a “no membership required sale” that will offer discounts and deals on select items available on its site.

The company also stated that it would offer 110% of the price difference on eligible items that are available on competing websites.

Amazon announced earlier this week that Prime Day, it’s annual sale for Prime Members would be from July 16th to the 17th.

MoviePass Introduces Surge Pricing

According to Engadget, MoviePass will roll out a new pricing model called Peak Pricing which is based on the demand for particular showtimes.

Customers may have to pay an additional fee depending on the popularity of a specific movie.

The company stated on its website that the new pricing model will be implemented in all movie theatres over the coming weeks.

Square Drops its Bank Application
American Banker

The American Banker reported on Thursday that Square has withdrawn from its application to launch a depository bank.

According to the report, the company applied back in September, however, it is no longer on the list of pending new bank applications managed by the Federal Deposit Insurance Corp.

A Square spokesperson stated in the American Banker report that the company plans to refile its application in the future.

US Tariffs on Chinese Goods Take Effect Today
The New York Times

The New York Times reported that the United States has officially imposed tariffs on $34 billion worth of Chinese products as of 12:01 am on Friday.

The BBC reported that China plans to counterattack the duty with a 25% tariff on 545 US imported goods ttotaling$34 billion.