Cheddar afternoon business report for Feb. 9, 2018

Posted: Updated:
NEW YORK -

Amazon is taking on UPS and FedEx with its own shipping service called "Shipping with Amazon." The company will pick up packages from businesses that sell items on their website and ship them directly to customers. According to the Wall Street Journal, the service will launch in Los Angeles in the next few weeks.

MoviePass has hit a new milestone, but that's not a complete cause for celebration. The movie ticket subscription startup just topped 2 million subscribers. But with the more it grows, the more cash it burns. MoviePass allows customers to go to a theater and watch one movie per day for $10 a month. The company says it plans to bring in more profits through advertising and merchandise sold on its app.

With another holiday comes another new Starbucks latte. The coffee chain is releasing a cherry mocha that is inspired by chocolate-covered cherries for Valentine's Day. The drink contains espresso with mocha sauce and cherry syrup. Starbucks is also baking cake pops and heart-shaped cookies, all of which will be available until Feb. 14.

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