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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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The art of technical analysis

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How can we master the art of technical analysis in the crypto space?

Bitcoin 101 is an exciting talk show that educates viewers on safe participation in crypto markets, providing timely updates and expert insights for informed decision-making.

Hosted by the Managing Director of Crypto CallsCheyne Kupfer.

In this episode, Cheyne unpacks technical analysis and how it can up your crypto game.

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Unpacking crypto ‘prop trading’

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What is crypto proprietary trading and how can it benefit you?

Bitcoin 101 is an exciting talk show that educates viewers on safe participation in crypto markets, providing timely updates and expert insights for informed decision-making.

Hosted by the Managing Director of Crypto CallsCheyne Kupfer.

In this episode, Cheyne sits down with Growth Partner at Crypto Calls, Jack Birkinshaw to talk all things prop trading.

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Crypto: the benefits of government regulation

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How can government regulation lead to greater trust and interest in cryptocurrency?

Bitcoin 101 is an exciting talk show that educates viewers on safe participation in crypto markets, providing timely updates and expert insights for informed decision-making.

Hosted by the Managing Director of Crypto CallsCheyne Kupfer.

In this episode, Cheyne discusses the benefit of increasing government regulation in crypto.

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