Here's your TnB Tech Minute for Wednesday, July 3rd.

I'm Zoe Thomas for the Wall Street Journal.

We exclusively report that the parent of Saxe Fifth Avenue plans to buy rival Neiman Marcus for 2.65 billion

dollars with a little help from Amazon.

That's according to people familiar with the matter.

The boards of both companies have approved the transaction and people

the matter. The boards of both companies have approved the transaction and an announcement could come as soon as this evening the people said.

The new company will be called SACS Global.

Amazon will take a minority stake and plans to provide the new company

with technology and logistics expertise the people said. The Commerce

Department is investigating how to limit cyber risks in connected cars made with

parts from China and other adversaries. Companies ranging from small

automotive technology suppliers to major carmakers Ford and Volkswagen are pushing to shape coming

cybersecurity rules. In public comments to the Commerce Department, some

companies said they support federal efforts to restrict foreign-made

technology that could pose a

cyber security threat. Several automakers and suppliers warned that future

rules could lead to supply chain interruptions and raise costs.

And Amazon founder Jeff chain interruptions and raise costs.

And Amazon founder Jeff Bezos is looking to sell more stock in the e-commerce company,

according to a recent filing.

He filed late Tuesday to sell up to 25 million shares as part of a trading plan.

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