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Jeff Bezos accused of ‘lying’ to Congress

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Executives at Amazon, including the company’s founder Jeff Bezos, may have misled or lied to Congress about the firm’s business practices

According to top US lawmakers, the eCommerce giant executives may have forged the company’s business practices after presenting them to Congress. The members of the House Judiciary Committee now say they are considering referring Amazon “for criminal investigation”.

The claims follow an investigation by Reuters that stated Amazon copied products and rigged its search results in India to boost sales of its own brands .

Amazon strongly denies the allegations.

“Amazon and its executives did not mislead the committee, and we have denied and sought to correct the record on the inaccurate media articles in question,”

a spokesperson said.

On Monday, five members of the US House Judiciary Committee wrote to Amazon boss Andy Jassy, who took the top job from Jeff Bezos in July.

The lawmakers said “credible reporting” by Reuters and recent articles in other news outlets “directly contradicts the sworn testimony and representations of Amazon’s top executives – including former CEO Jeffrey Bezos”.

Investigations continue into Amazon

Since 2019, the House Judiciary Committee has been investigating competition in digital markets, including how Amazon uses third party seller data from its platform.

In sworn testimony before the Judiciary Committee’s anti-trust subcommittee in 2020, Jeff Bezos stated that Amazon “forbids” employees using data on individual sellers to benefit Amazon’s own-brand product lines.

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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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