Lates News

The German Federal Cartel Office has informed Amazon (AMZN.O) that its pricing policy for retailers violates digital economy and fair competition rules and has seized the company's illegal gains of 59 million euros (approximately 70 million US dollars). The office pointed out that Amazon would remove or not recommend relevant products when it deems the prices of goods "too high," and its guiding principles stipulate that such mechanisms are only allowed in special situations such as price manipulation. Like other American tech giants, Amazon is facing increasingly strict scrutiny from global regulatory bodies, including Germany and the European Union, due to its business practices and dominant position in the e-commerce sector. According to the Cartel Office's data, around 60% of online retail sales in Germany are carried out through Amazon. This is the first time that the German antitrust regulatory agency has used its power to confiscate profits related to improper behavior by a technology company.