Trump may have 'screwed' Amazon, prefers older iPhone design
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump and his administration with this weekly recap compiled by The Fly:
1. AMAZON 'SCREWED'?: Microsoft (MSFT) was named the winner in a competition for the Department of Defense's Joint Enterprise Defense Infrastructure, or JEDI, contract, beating out Amazon's (AMZN) Amazon Web Services unit in a surprise decision. The contest for the contract, which could be worth as much as $10B over a decade, was closely watched after President Trump, who has been a vocal critic of Amazon and its founder Jeff Bezos, said he might intervene. President Trump ordered former Defense Secretary James Mattis to "screw" Amazon out of the potential to bid on the $10B cloud computing contract, according to CNet's James Martin, citing excerpts from a new biography of Mattis. According to the Task & Purpose website, the biography said that during a meeting, Mattis mentioned Trump's order and said, "We're not going to do that. This will be done by the book, both legally and ethically." In July, Trump said he was looking at the contract after companies had protested the bidding process. “I never had something where more people are complaining,” Trump said at the time.
2. IPHONE CRITICIZED: In a tweet sent on October 25 that was apparently directed at Apple (AAPL) CEO Tim Cook, President Trump said, "The Button on the IPhone was FAR better than the Swipe!" Apple's top-of-the-line iPhones have not had a physical home button since an edge-to-edge design was introduced with the iPhone X in 2017.
3. AUTOMAKERS THANKED: General Motors (GM), Fiat Chrysler (FCAU) and Toyota (TM) are seeking to intervene on the side of the Trump administration in two additional legal challenges to its efforts to ban California from setting tailpipe emissions standards. Ford (F), Honda (HMC), Volkswagen (VWAGY) and BMW (BMWYY), which announced a voluntary deal with California in July on emissions rules, are not intervening on the administration's side.
On Wednesday, President Trump thanked GM, FCA, Toyota and Global Automakers in a tweet for standing with the U.S. government for "Better, Cheaper, Safer Cars for Americans. California has treated the Auto Industry very poorly for many years, harming Workers and Consumers. We are fixing this problem!"
"Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.
Keywords: Week in Review, Trump, Trump Effect, Politics, Trade Talks, AWS, Jeff Bezos, Tim Cook