Good morning. Amazon has reached a $2.5 billion settlement with the Federal Trade Commission, just days into a civil trial examining whether the company duped customers into signing up for its signature Prime service and created a confusing process to cancel.

• Biggest ever penalty: The e-commerce giant will pay a $1 billion civil penalty, the largest in FTC history, and create a $1.5 billion fund to pay back to consumers, according to court documents. It will also be required on its Prime interface to include a simple way to cancel.
   
• ‘Sophisticated traps’: “The evidence showed that Amazon used sophisticated subscription traps designed to manipulate consumers into enrolling in Prime, and then made it exceedingly hard for consumers to end their subscription,” FTC Chairman Andrew Ferguson said. “Today, we are putting billions of dollars back into Americans’ pockets, and making sure Amazon never does this again.”
   
• Back to business: Amazon agreed to settle the case without admitting or denying the FTC’s allegations that it misled customers in violation of federal consumer protection laws. The company said Thursday that the resolution allows it to move forward and focus on its business.

Senators want answers from Big Tech on H-1B workers, layoffs.

Big U.S. companies are facing heightened scrutiny from Capitol Hill over their use of foreign employees on H-1B visas, with lawmakers raising concerns about layoffs and slumping job prospects for Americans.

On Wednesday evening, Judiciary Committee Chairman Chuck Grassley (R., Iowa) and ranking member Dick Durbin (D., Ill.) sent letters to the country’s largest users of H-1B visas—including Amazon.com, Apple and JPMorgan Chase—asking them to explain why they continue to hire thousands of H-1B visa holders while also cutting other jobs.

Apple asks EU to repeal bloc’s landmark Digital Markets Act.

Apple asked the European Union’s executive arm to repeal or significantly scale back the Digital Markets Act after saying the law is making it harder to do business in the bloc.

“The most effective way to repair the damage and prevent further harm would be a repeal of the law–or specific provisions–and a reset on digital competitiveness that puts users first,” Apple said in remarks it submitted on Wednesday to the European Commission, whose officials are reviewing how the new law is working.

• Risk Journal reports that cryptocurrency exchange KuCoin is appealing a fine imposed by Canada’s financial-crime regulator over alleged anti-money-laundering noncompliance.
   
• Financial regulators have examined unusual trading patterns in the shares of companies that sought to make buying cryptocurrencies their core corporate strategy, people familiar with the matter said.
   
• The European Union launched a formal investigation into Germany’s SAP, saying the company might have stifled competition for maintenance and support services of its popular business-management software.
   
• Italy’s competition authority imposed more than $1.09 billion of fines on Eni and five other oil companies after closing a probe into allegations they set up a cartel to raise fuel prices.
   
• Live Nation’s Ticketmaster offered to change how it advertises concert tickets on its website after its handling of Oasis’s reunion tour sale triggered an investigation from the U.K.’s competition watchdog.
   
• The U.S. sanctioned a business and four people for facilitating arms deals between North Korea and the Myanmar military, known as Tatmadaw.

Skittish companies are saying less and doing more as they wrangle with climate risk.

Companies gathering in New York for Climate Week say their environmental efforts are good for business, even as President Trump and his administration reject such measures as a scam.

Businesses are wrestling with pressure to reach their ambitious climate goals—many of which were made without a real plan on how to pull it off—said Tim Mohin, director and partner at Boston Consulting Group. He spoke Thursday on a panel hosted by Dow Jones Risk Journal.

Microsoft disables some cloud services used by Israel’s Defense Ministry.

Microsoft has disabled the Israeli Defense Ministry’s access to certain services and subscriptions, after finding evidence that the ministry used the tech company’s cloud services to surveil Gaza citizens.

For months, Microsoft has been looking into Israel’s use of the company’s technology after facing public criticism over the relationship, which current and former employees have criticized. Organizers have disrupted company conferences by shouting during keynote speeches and hung Palestinian flags and banners around the Microsoft corporate campus in Redmond, Wash.

• Denmark said it had suffered a hybrid attack by a professional actor after drones were observed over several airports late on Wednesday, the second time in less than a week that unmanned aircraft have disrupted air traffic in the Nordic nation, a NATO member.
   
• Italy and Spain are dispatching navy vessels to protect a flotilla carrying international activists aiming to carry aid to Gaza, amid growing fears that Israel might use force against the boats.
   
• After signing a trade deal with Indonesia, the European Union is preparing to conclude agreements with the Philippines, Thailand and Malaysia by 2027, a top trade official said. Asean’s importance as a partner for Europe is growing, European Commissioner for Trade & Economic Security Maroš Šefčovič said.
   
• President Trump announced many new tariffs Thursday, including a large one on drugs from pharmaceutical companies that aren’t building plants in the U.S.
   
• President Trump’s trade deal with South Korea is on shaky ground.
   
• The clock is ticking down to an Oct. 1 deadline when federal agencies will run out of money because Congress hasn’t passed funding for the next fiscal year. Republicans and Democrats have latched onto starkly different positions.

• A federal grand jury in Virginia indicted former FBI director James Comey on charges of making false statements and obstruction, days after President Trump demanded the prosecution and ousted the U.S. attorney who determined there was insufficient evidence to bring the case.
   
• The Justice Department has told federal prosecutors to draft plans to investigate a group funded by liberal philanthropist George Soros, a person familiar with the plans said, amid an escalating crackdown on President Trump’s opponents and critics.
   
• Intel Chief Executive Lip-Bu Tan has been hustling to secure investments and customer commitments needed for the chipmaker’s comeback.
   
• Starbucks is laying off 900 more corporate workers and closing hundreds of stores, the company’s latest moves to trim costs and plow money into improving its cafes.
   
• Investigators identified the suspected shooter who killed a detainee at a Dallas ICE field office as Joshua Jahn. Authorities believe the suspect acted alone, an official said.

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