Amazon CEO, Jeff Bezos, is unveiling new additions to the Amazon family.
The Kindle Fire is a tablet device that will cost just under $200 and include free cloud storage for music, videos and other media. Amazon also introduced a low-end touchscreen version of the popular Kindle e-reader and a new 3G version to sell at a higher price.
The price on the original Kindle drops to $79. Initial reaction: the Kindle Fire will be less of a threat to the iPad, more of a threat to other tablet makers.
U.S. orders for big-ticket items slipped in August, led by a drop in demand for automobiles. But a measure of business spending in the August durable goods report suggests that the economy may avoid another recession.
Best Buy, the world’s largest consumer electronics chain, says it’s cutting the number of temporary holiday workers in half to just 15,000.
Bottom line: Amazon unveils its new Fire tablet and durable goods orders fall in the United States, forcing Best Buy to cut holiday hiring plans.