iFive: Amazon Dominates, Material Girl Back in Action, Russian Economy in Flames, WikiLeaks in Danger, Newsweek Buyout

1. Amazon comes out and says it in an interview with CNet: “There will be more than one winner in this market segment,” referring to iPads, Kindles, and other hardware for reading e-books. But, VP Ian Freed says, “We’re pretty sure we’re 70 to 80% of the market.”

2. Madonna and her daughter Lourdes (aka “Lola”) launched their clothing line today at Macy’s, with Gossip Girl star Taylor Momsen fronting the campaign. Material Girl is back with a vengeance.

3. As former Russian spies get comfy at home, the Russian heatwave and fires are causing chaos for the nation’s economy, including its crops and farmlands, CNN reports. Take note, spies, don’t do it again.

4. WikiLeaks founder, Julian Assange, fears for his life as White House insiders tell him he could be charged for espionage. That, and he says the 22-year-old leaker, Bradley Manning, is being held in a Guantanamo-like prison in Kuwait.

5. Stereo equipment tycoon, Sidney Harman, buys Newsweek for $1 (not a typo), while employees pray their jobs are safe.JN