Get the latest market trends in your inbox
Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul
Tampa-St. Petersburg news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg
A truck leaves an Amazon distribution center in Kolbaskowo, Poland. Photo: Adam Berry / Getty Images
Amazon plans to launch its own shipping service for businesses, sending their products directly to consumers, reports The Wall Street Journal. The "Shipping with Amazon" service will begin in Los Angeles soon — for now, targeted only at Amazon's own third-party merchants — but it's expected to roll out to other cities and customers eventually.
Why it matters: The move positions Amazon to take on shipping giants UPS and FedEx, especially as the tech giant plans to undercut both their prices. It's reflective of Amazon's broader ambitions beyond e-commerce, highlighted by its burgeoning Hollywood presence, acquisition of Whole Foods, and cloud-computing services. FedEx (FDX) shares are currently at $231.21 (-3.37%.) Amazon (AMZN) shares are currently at $1,315.06 (-2.62%.)