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Amazon cops major penalty by Italian regulators

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Major online retailer, Amazon has been fined $1.2 billion by regulators in Italy

Regulators in Italy say that Amazon has abused its market dominance by the way it promotes its own distribution service, Fulfilment by Amazon.

It’s the second time that regulators have taken on Amazon in a month – and they say that companies using Amazon as a selling platform are forced to use the FBA service in order to access key benefits such as selling products with prime delivery where no extra costs would be passed on to customers.

A visa credit card is held in front of an Amazon logo in this picture illustration taken September 6, 2017. REUTERS/Philippe Wojazer/Illustration

Amazon says that it “strongly disagreed” with the decision, and would appeal

Italian regulators ruled that Amazon put third-party sellers at a disadvantage by requiring use of its own service to access key benefits and events.

“Amazon has thus prevented third-party sellers from associating the Prime label with offers not managed with FBA,”

it said.

The regulator insisted that access to such functions is “crucial” for sellers to achieve success on the Amazon Marketplace.

Regulators also said it would impose corrective steps which will be subject to review by a monitoring trustee.

Amazon said in a statement that the fine was “unjustified and disproportionate”.

“We strongly disagree with the decision of the Italian Competition Authority and we will appeal,” said the company.

“Small and medium-sized businesses have multiple channels to sell their products both online and offline: Amazon is just one of those options.

The regulatory action is the second fine against the eCommerce giant in a matter of weeks after both the platform and tech giant Apple were fined $228 million for restricting Beats headphone sales, by limiting them to select retailers.

Amazon and Apple have confirmed that they plan to appeal against the fines.

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Warner Brothers & Discovery considers splitting up to boost stock value

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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