FINWIRES · TerminalLIVE
FINWIRES

Update: Amazon's Legal Challenge Over Minimum Book Delivery Fees Rejected by France's Council of State

By

(Updates with statement from France's Council of State in first and second paragraph and Amazon's response in the third paragraph.)

Amazon's (AMZN) legal challenge over the minimum delivery charge of 3 euro ($3.5) on book orders under 35 euros was rejected by France's Council of State, the administrative court said on Wednesday.

The Council of State ruled that the minimum delivery charge, as set by the French government in 2023, does not violate the free movement of goods guaranteed by the Treaty on the Functioning of the European Union, according to a Google translation.

An Amazon spokesperson toldin an emailed response that the court's decision was "disappointing," and that this measure has cost readers over 100 million euros, driven the French further away from books, and has strengthened large retail chains rather than independent booksellers.

Price: $264.95, Change: $-0.87, Percent Change: -0.33%

Related Articles

Wire

Gyre Therapeutics Says China Regulator Accepts Application for Liver Fibrosis Drug

Gyre Therapeutics Inc (GYRE) said China's regulator accepted its new drug application for F351, a treatment for chronic hepatitis B-induced liver fibrosis.The application, which received priority review status in March, marks "a significant milestone" in the program's path toward commercialization, the company said Tuesday in a statement.In the US, Gyre has completed a Phase 1 trial evaluating the drug's safety and tolerability in healthy volunteers and plans to file an investigational new drug application by the end of 2026, with a Phase 2 trial to follow if cleared.Gyre shares rose 1.4% in after-hours trading.

$GYRE
Wire

Evolution Petroleum Swings to Fiscal Q3 Loss as Revenue Falls; Shares Drop After Hours

Evolution Petroleum (EPM) reported a fiscal Q3 adjusted loss late Tuesday of $0.09 per diluted share, swinging from earnings of $0.02 a year earlier.Analysts polled by FactSet expected earnings of $0.02.Revenue in the three months ended March 31 fell to $20.2 million from $22.6 million a year earlier.Analysts surveyed by FactSet expected $21.3 million.Evolution shares fell 7.3% in after-hours trading.

$EPM
Wire

Arteris Q1 Adjusted Loss Narrows, Revenue Rises; Shares Gain After Hours; CFO to Retire

Arteris (AIP) reported a Q1 adjusted loss late Tuesday of $0.03 per diluted share, narrowing from the loss of $0.09 a year earlier.Four analysts polled by FactSet expected a loss of $0.07.Revenue in the three months ended March 31 rose to $22.9 million from $16.5 million a year earlier.Four analysts surveyed by FactSet expected $21 million.The company expects revenue of $23 million to $24 million in Q2 and $91 million to $95 million in the full year. Four analysts expect $22 million in Q2 and $91 million in the full year.Arteris shares rose 7.9% in after-hours trading.The company also said Chief Financial Officer Nicholas Hawkins plans to retire effective Aug. 31, and the board has started a search for a new CFO.

$AIP