Amazon to Cut E-Book Prices

Moving swiftly to gain the upper hand after the Justice Department announced a suit against Apple and major publishers for price-fixing on e-books, Amazon lowered prices on major titles from $14.99 to $9.99 or lower. The charges against Apple put Amazon, which once controlled 90 percent of the e-book market, back in a powerful position to set prices. The government has accused Apple of colluding with four major publishers to charge consumers more than they would have paid otherwise. But publishers and sellers say readers won’t be any better off in Amazon’s hands, since the online seller already dominates the market and will now have even more control.