RateCaptain
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
RateCaptain
No Result
View All Result
Home Business

UK Investigates Amazon Over Suspected Anti-Competitive Business Practices

Rate Captain by Rate Captain
July 6, 2022
in Business, Corporates, Economics
Reading Time: 2 mins read
A A
0
UK Investigates Amazon Over Suspected Anti-Competitive Business Practices
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Britain’s Competition and Markets Authority (CMA) opened an investigation on Tuesday over concerns that Amazon’s practices on its UK Marketplace may be anti-competitive, and could be hurting third-party sellers while giving an unfair advantage to its personal sellers on its marketplace.

Britain’s antitrust watchdog has not reached any conclusions at this stage as to whether or not competition law has been infringed however, it needs to know if the e-commerce giant’s practices have a consequence on sellers on its market and could result in a worse deal for customers.

AlsoRead

US Nation’s Employers Add 339,000 Jobs in May, Defying Market Expectations.

Global Equities and U.S. Treasury Yields Decline Amid Uncertainty Over U.S. Debt Ceiling Vote.

Surging Bond Issuances and Market Expansion: Nigerian Capital Market’s Phenomenal Rise.

According to the disclosure by CMA on its website, “the investigation will consider whether Amazon has a dominant position in the UK and whether it is abusing that position and distorting competition by giving an unfair advantage to its own retail business or sellers that use its services, compared to other third-party sellers on the Amazon UK Marketplace”.

“It’s right that we carefully investigate whether Amazon is using third-party data to give an unfair boost to its own retail business and whether it favors sellers who use its logistics and delivery services – both of which could weaken competition”, Sarah Cardell, General Counsel at the CMA said.

In the UK, millions of people make use of Amazon services for purchase and prompt delivery of all manners of products, and this dominance by Amazon raises concerns about how the company collects data, uses data, and generally how it renders its services to vendors as the Amazon’s access to data gives its retail business an unfair advantage over third-party sellers.

According to CMA, some of the items on Amazon’s platform are supplied through its own retail business. Nevertheless, a large proportion is supplied by third-party sellers. Amazon provides several services to these vendors, some of which are essential to making sales, such as matching sellers with consumers. CMA believes that this dominance by Amazon needs to be assessed to ensure the company’s practices is not infringing the competition laws.

Sarah Cardell, General Counsel CMA also said “thousands of UK businesses use Amazon to sell their products and it is important they are able to operate in a competitive market. Any loss of competition is a loss to consumers and could lead to them paying more for products, being offered lower-quality items, or having less choice”.

Amazon has had similar cases of anti-competition investigations. In November 2020, the EU antitrust regulators probed Amazon for breaching competition rules, saying it used independent sellers’ data to benefit its retail business and also opened a second investigation into the company’s business. In May 2021, the German antitrust watchdog investigated whether Amazon has exploited its market dominance.

The CMA said that as it progresses with its investigation in the UK, it will work with the European Commission which has previously opened 2 investigations covering the same area.

Previous Post

Trouble In Power Sector as Fidelity Bank, AMCON Seize Kaduna, 3 Other DisCos

Next Post

DMO lists $1.25 Billion Eurobond on  NGX and FMDQ Group

Related News

US Nation’s Employers Add 339,000 Jobs in May, Defying Market Expectations.

US Nation’s Employers Add 339,000 Jobs in May, Defying Market Expectations.

by Rate Captain
June 2, 2023
0

In a surprising turn of events, the US nation's employers showcased their strength in the job market by adding a...

Nigerian Banks to Demand Tax Clearance Certificate Before Customers Can Buy Dollars, Other Foreign Currencies

Global Equities and U.S. Treasury Yields Decline Amid Uncertainty Over U.S. Debt Ceiling Vote.

by Rate Captain
May 31, 2023
0

Global equities and U.S. Treasury yields experienced a downward trend on Wednesday as bearish sentiment dominated the markets. Investors anxiously...

Surging Bond Issuances and Market Expansion: Nigerian Capital Market’s Phenomenal Rise.

Surging Bond Issuances and Market Expansion: Nigerian Capital Market’s Phenomenal Rise.

by Rate Captain
May 30, 2023
0

The Nigerian capital market has experienced remarkable growth in recent years, with significant increases in corporate and subnational bond issuances....

South African Rand Plunges to New Low as Interest Rates Rise

South African Rand Plunges to New Low as Interest Rates Rise

by Rate Captain
May 29, 2023
0

The South African economy has been facing a turbulent period, marked by worsening electricity shortages, rising inflation, and recent allegations...

Next Post
DMO offers June 2022 FGN savings bond for subscription

DMO lists $1.25 Billion Eurobond on  NGX and FMDQ Group

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

US Nation’s Employers Add 339,000 Jobs in May, Defying Market Expectations.

US Nation’s Employers Add 339,000 Jobs in May, Defying Market Expectations.

June 2, 2023
Ride-hailing Drivers in Nigeria Demand a Price Increase of 200%.

Ride-hailing Drivers in Nigeria Demand a Price Increase of 200%.

June 2, 2023

Popular Story

  • Providus Bank Plc Announces Graduate Management Trainee Program 2023/2024.

    Providus Bank Plc Announces Graduate Management Trainee Program 2023/2024.

    0 shares
    Share 0 Tweet 0
  • Ride-hailing Drivers in Nigeria Demand a Price Increase of 200%.

    0 shares
    Share 0 Tweet 0
  • Telcos issue banks disconnection notice over USSD debt

    0 shares
    Share 0 Tweet 0
  • US Nation’s Employers Add 339,000 Jobs in May, Defying Market Expectations.

    0 shares
    Share 0 Tweet 0
  • Telecom Operators Blame Communications Minister for Telecom Debt Crisis

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

?>