Amazon, Macmillan reach agreement on e-book profit

Amazon.com and Macmillan have reached a deal covering the sale of print and e-books, the latest agreement between the online retailer and a publishing house following controversies over share of e-book profits.

Macmillan Chief Executive Officer John Sargent posted a letter Thursday on the publisher’s website saying he had struck an agreement with Amazon last week, with the pact going into effect on Jan. 5. Under the deal, e-books will go under an “agency model,” with the publisher setting consumer prices of the digital books and retailers taking a cut of the sale.

Amazon promises one-hour delivery to NYC Prime clients

Amazon says it is offering one-hour delivery of thousands of basic products to its Prime customers in Manhattan.

The online retail giant rolled out the service, known as Prime Now, to select areas of Manhattan on Thursday. It provides delivery of household products like paper towels, shampoo, books, toys and batteries.

Amazon says Prime Now is available to customers who are already enrolled in Amazon Prime, a membership service that costs $99 a year. The one-hour delivery costs $7.99.

Mortgage rates hit new low for year, fall to 3.8 percent

Mortgage rates have hit a fresh low for the year.

The average for a 30-year fixed loan fell to 3.80 percent this week, mortgage company Freddie Mac said Thursday. Lenders offered a 15-year fixed mortgage at 3.09 percent.

Plunging oil prices and concerns over the global economy drove yields on the 10-year Treasury note this week to their lowest level since May 2013.

— From news service reports