FTC Prepares Possible Antitrust Suit Against Amazon

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FTC Prepares Possible Antitrust Suit Against Amazon

The Wall Street Journal2023-02-04

Federal Trade Commission considers challenge to array of practices by Amazon, a target of criticism from Chair Lina KhanThe FTC has looked at business practices at Amazon in recent years including ...

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href=https://www.wsj.com/articles/ftc-prepares-possible-antitrust-suit-against-amazon-11675438256?mod=hp_lead_pos4><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Federal Trade Commission considers challenge to array of practices by Amazon, a target of criticism from Chair Lina KhanThe FTC has looked at business practices at Amazon in recent years including ...</p>\n\n<a href=\"https://www.wsj.com/articles/ftc-prepares-possible-antitrust-suit-against-amazon-11675438256?mod=hp_lead_pos4\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0354030511.USD","symbol_name":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) 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The commission also could opt not to proceed, and doesn’t always bring cases even when it is making preparations to do so.Amazon officials haven’t had individual late-stage meetings with each of the FTC commissioners to make their arguments against a legal challenge, those people said.The commission in recent years has been examining Amazon practices including whether it favors its own products over competitors’ on its platforms and how it treats outside sellers on Amazon.com, according to some of the people familiar with the matter. The FTC also has been scrutinizing the company’s Amazon Prime subscription service’s bundling practices, some of the people said. Exactly which aspects of the business the FTC would target in a potential Amazon lawsuit couldn’t be learned.Amazon and the FTC declined to comment. The company has said repeatedly that it competes fairly and that its services benefit both customers and sellers on its platform.If the commission does sue, it would mark a signature moment in the tenure of FTC Chair Lina Khan, who built her career in part by arguing in a widely read academic paper that Amazon had amassed too much market power and that antitrust law had failed to restrain it.An FTC case also would be an escalation of efforts by U.S. antitrust enforcers to rein in the nation’s largest technology companies. The commission sued Facebook in 2020, accusing it of buying and freezing out small startups to choke competition. The case remains pending. The Justice Department, which shares antitrust authority, has filed two broad antitrust lawsuits against Alphabet Inc.’s Google, including one last month that targets the company’s ad-tech business.Facebook-parent Meta Platforms Inc. has rejected the FTC’s assertions and said its acquisitions have been good for competition and good for those who use its products. Google said the Justice Department’s arguments are flawed and that the advertising technology sector is highly competitive.The FTC began investigating Amazon during the tenure of Republican Chairman Joseph Simons, who ran the agency while Donald Trump was president. In 2019, Mr. Simons and his counterparts at the Justice Department brokered a jurisdictional agreement for federal antitrust investigations of big technology companies. The Justice Department took the reins on Google and Apple Inc. while the FTC took Amazon and Facebook.Shortly after Ms. Khan was confirmed as FTC chair in 2021, Amazon filed a petition with the commission that argued she should be recused in investigations of the company, in light of her extensive past criticisms of Amazon. The commission hasn’t publicly responded to that petition, though it has rejected similar recusal arguments made by Facebook. A federal judge also ruled against Facebook on the recusal issue.Amazon, Apple, Google and Meta were the focus of a 16-month congressional antitrust investigation into the competitive behaviors of the tech giants that concluded with a 449-page report in 2020. The House Antitrust Subcommittee’s report, which Ms. Khan worked on as a counsel to the panel, determined that Amazon had “monopoly power” over sellers on its site, bullied retail partners and improperly used seller data to compete with rivals.In a blog post the day of the congressional report, Amazon warned against “ill-conceived ideas” about regulation that threatened to force changes to its platform that it said would hurt both consumers and small sellers. “All large organizations attract the attention of regulators, and we welcome that scrutiny,” it said. “But large companies are not dominant by definition, and the presumption that success can only be the result of anti-competitive behavior is simply wrong.”The Wall Street Journal in a 2020 article detailed how employees in Amazon’s private brands business have used data about independent sellers on the company’s platform to develop competing products, a practice at odds with the company’s stated policies. The Journal also reported about Amazon’s tactic of leveraging dominance in one business to compel partners to accept terms from another, which rivals said go beyond typical product bundling and tough negotiating in part because the company threatens punitive action on vital services it offers, such as its retail platform.Amazon at the time said that it prohibited employees from using nonpublic, seller-specific data to determine which products it launched, and that negotiating across its business units was normal practice in business.The FTC also has been investigating non-antitrust issues related to Amazon, including whether the company might have used misleading practices to sign up subscribers to its Amazon Prime program, and whether it impedes the ability of consumers to cancel their subscriptions.In August, Amazon complained about the FTC’s probe and accused the FTC of making excessive and unreasonable demands on founder Jeff Bezos and company executives. It asked the FTC to quash civil subpoenas issued to Mr. Bezos and Chief ExecutiveAndy Jassy. The FTC largely rejected the request.In December, Amazon agreed to settle two European Union antitrust cases related to allegations about its treatment of third-party sellers on its platform.Amazon, which didn’t pay a fine as part of the settlement, committed to give third-party sellers in the European Union that use Amazon an equal shot at being selected as the default option for the buttons in Amazon’s so-called Buy Box and to qualify for its Prime shipping program. The company also as part of the settlement agreed to abstain from using nonpublic data about sellers on its marketplace to compete against them in the European Union.Amazon said at the time that it disagreed with several of the EU’s allegations, but engaged in a settlement to preserve its ability to serve customers and businesses in Europe.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":9955253929,"gmtCreate":1675470702661,"gmtModify":1676539004876,"author":{"id":"3574547619690492","authorId":"3574547619690492","name":"UTOtrader","avatar":"https://static.tigerbbs.com/82be6befb29ac8516e463638d3f659d5","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"T","listText":"T","text":"T","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9955253929","repostId":2308697228,"repostType":4,"repost":{"id":"2308697228","pubTimestamp":1675467708,"share":"https://www.laohu8.com/m/news/2308697228?lang=&edition=full","pubTime":"2023-02-04 07:41","market":"us","language":"en","title":"FTC Prepares Possible Antitrust Suit Against Amazon","url":"https://stock-news.laohu8.com/highlight/detail?id=2308697228","media":"The Wall Street Journal","summary":"Federal Trade Commission considers challenge to array of practices by Amazon, a target of criticism ","content":"<html><head></head><body><p>Federal Trade Commission considers challenge to array of practices by Amazon, a target of criticism from Chair Lina Khan</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2655b6f661a911e7e0bc7cf6df54c4ed\" tg-width=\"860\" tg-height=\"574\" width=\"100%\" height=\"auto\"/><span>The FTC has looked at business practices at Amazon in recent years including whether it favors its own products versus competitors’ on its platforms.</span></p><p>The Federal Trade Commission is preparing a potential antitrust lawsuit against Amazon.com Inc. that in the coming months could challenge an array of the tech giant’s business practices as anticompetitive, according to people familiar with the matter.</p><p>The timing of any case remains in flux, some of the people said. The commission also could opt not to proceed, and doesn’t always bring cases even when it is making preparations to do so.</p><p>Amazon officials haven’t had individual late-stage meetings with each of the FTC commissioners to make their arguments against a legal challenge, those people said.</p><p>The commission in recent years has been examining Amazon practices including whether it favors its own products over competitors’ on its platforms and how it treats outside sellers on Amazon.com, according to some of the people familiar with the matter. The FTC also has been scrutinizing the company’s Amazon Prime subscription service’s bundling practices, some of the people said. Exactly which aspects of the business the FTC would target in a potential Amazon lawsuit couldn’t be learned.</p><p>Amazon and the FTC declined to comment. The company has said repeatedly that it competes fairly and that its services benefit both customers and sellers on its platform.</p><p>If the commission does sue, it would mark a signature moment in the tenure of FTC Chair Lina Khan, who built her career in part by arguing in a widely read academic paper that Amazon had amassed too much market power and that antitrust law had failed to restrain it.</p><p>An FTC case also would be an escalation of efforts by U.S. antitrust enforcers to rein in the nation’s largest technology companies. The commission sued Facebook in 2020, accusing it of buying and freezing out small startups to choke competition. The case remains pending. The Justice Department, which shares antitrust authority, has filed two broad antitrust lawsuits against Alphabet Inc.’s Google, including one last month that targets the company’s ad-tech business.</p><p>Facebook-parent Meta Platforms Inc. has rejected the FTC’s assertions and said its acquisitions have been good for competition and good for those who use its products. Google said the Justice Department’s arguments are flawed and that the advertising technology sector is highly competitive.</p><p>The FTC began investigating Amazon during the tenure of Republican Chairman Joseph Simons, who ran the agency while Donald Trump was president. In 2019, Mr. Simons and his counterparts at the Justice Department brokered a jurisdictional agreement for federal antitrust investigations of big technology companies. The Justice Department took the reins on Google and Apple Inc. while the FTC took Amazon and Facebook.</p><p>Shortly after Ms. Khan was confirmed as FTC chair in 2021, Amazon filed a petition with the commission that argued she should be recused in investigations of the company, in light of her extensive past criticisms of Amazon. The commission hasn’t publicly responded to that petition, though it has rejected similar recusal arguments made by Facebook. A federal judge also ruled against Facebook on the recusal issue.</p><p>Amazon, Apple, Google and Meta were the focus of a 16-month congressional antitrust investigation into the competitive behaviors of the tech giants that concluded with a 449-page report in 2020. The House Antitrust Subcommittee’s report, which Ms. Khan worked on as a counsel to the panel, determined that Amazon had “monopoly power” over sellers on its site, bullied retail partners and improperly used seller data to compete with rivals.</p><p>In a blog post the day of the congressional report, Amazon warned against “ill-conceived ideas” about regulation that threatened to force changes to its platform that it said would hurt both consumers and small sellers. “All large organizations attract the attention of regulators, and we welcome that scrutiny,” it said. “But large companies are not dominant by definition, and the presumption that success can only be the result of anti-competitive behavior is simply wrong.”</p><p>The Wall Street Journal in a 2020 article detailed how employees in Amazon’s private brands business have used data about independent sellers on the company’s platform to develop competing products, a practice at odds with the company’s stated policies. The Journal also reported about Amazon’s tactic of leveraging dominance in one business to compel partners to accept terms from another, which rivals said go beyond typical product bundling and tough negotiating in part because the company threatens punitive action on vital services it offers, such as its retail platform.</p><p>Amazon at the time said that it prohibited employees from using nonpublic, seller-specific data to determine which products it launched, and that negotiating across its business units was normal practice in business.</p><p>The FTC also has been investigating non-antitrust issues related to Amazon, including whether the company might have used misleading practices to sign up subscribers to its Amazon Prime program, and whether it impedes the ability of consumers to cancel their subscriptions.</p><p>In August, Amazon complained about the FTC’s probe and accused the FTC of making excessive and unreasonable demands on founder Jeff Bezos and company executives. It asked the FTC to quash civil subpoenas issued to Mr. Bezos and Chief ExecutiveAndy Jassy. The FTC largely rejected the request.</p><p>In December, Amazon agreed to settle two European Union antitrust cases related to allegations about its treatment of third-party sellers on its platform.</p><p>Amazon, which didn’t pay a fine as part of the settlement, committed to give third-party sellers in the European Union that use Amazon an equal shot at being selected as the default option for the buttons in Amazon’s so-called Buy Box and to qualify for its Prime shipping program. The company also as part of the settlement agreed to abstain from using nonpublic data about sellers on its marketplace to compete against them in the European Union.</p><p>Amazon said at the time that it disagreed with several of the EU’s allegations, but engaged in a settlement to preserve its ability to serve customers and businesses in Europe.</p></body></html>","source":"wsj_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>FTC Prepares Possible Antitrust Suit Against Amazon</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFTC Prepares Possible Antitrust Suit Against Amazon\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-04 07:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/ftc-prepares-possible-antitrust-suit-against-amazon-11675438256?mod=hp_lead_pos4><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Federal Trade Commission considers challenge to array of practices by Amazon, a target of criticism from Chair Lina KhanThe FTC has looked at business practices at Amazon in recent years including ...</p>\n\n<a href=\"https://www.wsj.com/articles/ftc-prepares-possible-antitrust-suit-against-amazon-11675438256?mod=hp_lead_pos4\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0234570918.USD":"高盛全球核心股票组合Acc Close","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","AMZN":"亚马逊","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU0238689110.USD":"贝莱德环球动力股票基金","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","BK4532":"文艺复兴科技持仓","LU0079474960.USD":"联博美国增长基金A","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU0061474960.USD":"天利环球焦点基金AU Acc","BK4585":"ETF&股票定投概念","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0109392836.USD":"富兰克林科技股A","BK4566":"资本集团","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","BK4524":"宅经济概念","BK4535":"淡马锡持仓","BK4538":"云计算","BK4527":"明星科技股","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","BK4579":"人工智能","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4550":"红杉资本持仓","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","BK4503":"景林资产持仓","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","BK4122":"互联网与直销零售","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","BK4561":"索罗斯持仓","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","BK4581":"高盛持仓","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0289941410.SGD":"AB FCP I Dynamic Diversified AX SGD","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","LU0528227936.USD":"富达环球人口趋势基金A-ACC"},"source_url":"https://www.wsj.com/articles/ftc-prepares-possible-antitrust-suit-against-amazon-11675438256?mod=hp_lead_pos4","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2308697228","content_text":"Federal Trade Commission considers challenge to array of practices by Amazon, a target of criticism from Chair Lina KhanThe FTC has looked at business practices at Amazon in recent years including whether it favors its own products versus competitors’ on its platforms.The Federal Trade Commission is preparing a potential antitrust lawsuit against Amazon.com Inc. that in the coming months could challenge an array of the tech giant’s business practices as anticompetitive, according to people familiar with the matter.The timing of any case remains in flux, some of the people said. The commission also could opt not to proceed, and doesn’t always bring cases even when it is making preparations to do so.Amazon officials haven’t had individual late-stage meetings with each of the FTC commissioners to make their arguments against a legal challenge, those people said.The commission in recent years has been examining Amazon practices including whether it favors its own products over competitors’ on its platforms and how it treats outside sellers on Amazon.com, according to some of the people familiar with the matter. The FTC also has been scrutinizing the company’s Amazon Prime subscription service’s bundling practices, some of the people said. Exactly which aspects of the business the FTC would target in a potential Amazon lawsuit couldn’t be learned.Amazon and the FTC declined to comment. The company has said repeatedly that it competes fairly and that its services benefit both customers and sellers on its platform.If the commission does sue, it would mark a signature moment in the tenure of FTC Chair Lina Khan, who built her career in part by arguing in a widely read academic paper that Amazon had amassed too much market power and that antitrust law had failed to restrain it.An FTC case also would be an escalation of efforts by U.S. antitrust enforcers to rein in the nation’s largest technology companies. The commission sued Facebook in 2020, accusing it of buying and freezing out small startups to choke competition. The case remains pending. The Justice Department, which shares antitrust authority, has filed two broad antitrust lawsuits against Alphabet Inc.’s Google, including one last month that targets the company’s ad-tech business.Facebook-parent Meta Platforms Inc. has rejected the FTC’s assertions and said its acquisitions have been good for competition and good for those who use its products. Google said the Justice Department’s arguments are flawed and that the advertising technology sector is highly competitive.The FTC began investigating Amazon during the tenure of Republican Chairman Joseph Simons, who ran the agency while Donald Trump was president. In 2019, Mr. Simons and his counterparts at the Justice Department brokered a jurisdictional agreement for federal antitrust investigations of big technology companies. The Justice Department took the reins on Google and Apple Inc. while the FTC took Amazon and Facebook.Shortly after Ms. Khan was confirmed as FTC chair in 2021, Amazon filed a petition with the commission that argued she should be recused in investigations of the company, in light of her extensive past criticisms of Amazon. The commission hasn’t publicly responded to that petition, though it has rejected similar recusal arguments made by Facebook. A federal judge also ruled against Facebook on the recusal issue.Amazon, Apple, Google and Meta were the focus of a 16-month congressional antitrust investigation into the competitive behaviors of the tech giants that concluded with a 449-page report in 2020. The House Antitrust Subcommittee’s report, which Ms. Khan worked on as a counsel to the panel, determined that Amazon had “monopoly power” over sellers on its site, bullied retail partners and improperly used seller data to compete with rivals.In a blog post the day of the congressional report, Amazon warned against “ill-conceived ideas” about regulation that threatened to force changes to its platform that it said would hurt both consumers and small sellers. “All large organizations attract the attention of regulators, and we welcome that scrutiny,” it said. “But large companies are not dominant by definition, and the presumption that success can only be the result of anti-competitive behavior is simply wrong.”The Wall Street Journal in a 2020 article detailed how employees in Amazon’s private brands business have used data about independent sellers on the company’s platform to develop competing products, a practice at odds with the company’s stated policies. The Journal also reported about Amazon’s tactic of leveraging dominance in one business to compel partners to accept terms from another, which rivals said go beyond typical product bundling and tough negotiating in part because the company threatens punitive action on vital services it offers, such as its retail platform.Amazon at the time said that it prohibited employees from using nonpublic, seller-specific data to determine which products it launched, and that negotiating across its business units was normal practice in business.The FTC also has been investigating non-antitrust issues related to Amazon, including whether the company might have used misleading practices to sign up subscribers to its Amazon Prime program, and whether it impedes the ability of consumers to cancel their subscriptions.In August, Amazon complained about the FTC’s probe and accused the FTC of making excessive and unreasonable demands on founder Jeff Bezos and company executives. It asked the FTC to quash civil subpoenas issued to Mr. Bezos and Chief ExecutiveAndy Jassy. The FTC largely rejected the request.In December, Amazon agreed to settle two European Union antitrust cases related to allegations about its treatment of third-party sellers on its platform.Amazon, which didn’t pay a fine as part of the settlement, committed to give third-party sellers in the European Union that use Amazon an equal shot at being selected as the default option for the buttons in Amazon’s so-called Buy Box and to qualify for its Prime shipping program. The company also as part of the settlement agreed to abstain from using nonpublic data about sellers on its marketplace to compete against them in the European Union.Amazon said at the time that it disagreed with several of the EU’s allegations, but engaged in a settlement to preserve its ability to serve customers and businesses in Europe.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9955227289,"gmtCreate":1675469699741,"gmtModify":1676539004773,"author":{"id":"4089158281473970","authorId":"4089158281473970","name":"Jeffljh","avatar":"https://static.tigerbbs.com/45f2c1fbb7c591d94ecd044034c418c4","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Ok tks","listText":"Ok tks","text":"Ok tks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9955227289","repostId":2308697228,"repostType":4,"repost":{"id":"2308697228","pubTimestamp":1675467708,"share":"https://www.laohu8.com/m/news/2308697228?lang=&edition=full","pubTime":"2023-02-04 07:41","market":"us","language":"en","title":"FTC Prepares Possible Antitrust Suit Against Amazon","url":"https://stock-news.laohu8.com/highlight/detail?id=2308697228","media":"The Wall Street Journal","summary":"Federal Trade Commission considers challenge to array of practices by Amazon, a target of criticism ","content":"<html><head></head><body><p>Federal Trade Commission considers challenge to array of practices by Amazon, a target of criticism from Chair Lina Khan</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2655b6f661a911e7e0bc7cf6df54c4ed\" tg-width=\"860\" tg-height=\"574\" width=\"100%\" height=\"auto\"/><span>The FTC has looked at business practices at Amazon in recent years including whether it favors its own products versus competitors’ on its platforms.</span></p><p>The Federal Trade Commission is preparing a potential antitrust lawsuit against Amazon.com Inc. that in the coming months could challenge an array of the tech giant’s business practices as anticompetitive, according to people familiar with the matter.</p><p>The timing of any case remains in flux, some of the people said. The commission also could opt not to proceed, and doesn’t always bring cases even when it is making preparations to do so.</p><p>Amazon officials haven’t had individual late-stage meetings with each of the FTC commissioners to make their arguments against a legal challenge, those people said.</p><p>The commission in recent years has been examining Amazon practices including whether it favors its own products over competitors’ on its platforms and how it treats outside sellers on Amazon.com, according to some of the people familiar with the matter. The FTC also has been scrutinizing the company’s Amazon Prime subscription service’s bundling practices, some of the people said. Exactly which aspects of the business the FTC would target in a potential Amazon lawsuit couldn’t be learned.</p><p>Amazon and the FTC declined to comment. The company has said repeatedly that it competes fairly and that its services benefit both customers and sellers on its platform.</p><p>If the commission does sue, it would mark a signature moment in the tenure of FTC Chair Lina Khan, who built her career in part by arguing in a widely read academic paper that Amazon had amassed too much market power and that antitrust law had failed to restrain it.</p><p>An FTC case also would be an escalation of efforts by U.S. antitrust enforcers to rein in the nation’s largest technology companies. The commission sued Facebook in 2020, accusing it of buying and freezing out small startups to choke competition. The case remains pending. The Justice Department, which shares antitrust authority, has filed two broad antitrust lawsuits against Alphabet Inc.’s Google, including one last month that targets the company’s ad-tech business.</p><p>Facebook-parent Meta Platforms Inc. has rejected the FTC’s assertions and said its acquisitions have been good for competition and good for those who use its products. Google said the Justice Department’s arguments are flawed and that the advertising technology sector is highly competitive.</p><p>The FTC began investigating Amazon during the tenure of Republican Chairman Joseph Simons, who ran the agency while Donald Trump was president. In 2019, Mr. Simons and his counterparts at the Justice Department brokered a jurisdictional agreement for federal antitrust investigations of big technology companies. The Justice Department took the reins on Google and Apple Inc. while the FTC took Amazon and Facebook.</p><p>Shortly after Ms. Khan was confirmed as FTC chair in 2021, Amazon filed a petition with the commission that argued she should be recused in investigations of the company, in light of her extensive past criticisms of Amazon. The commission hasn’t publicly responded to that petition, though it has rejected similar recusal arguments made by Facebook. A federal judge also ruled against Facebook on the recusal issue.</p><p>Amazon, Apple, Google and Meta were the focus of a 16-month congressional antitrust investigation into the competitive behaviors of the tech giants that concluded with a 449-page report in 2020. The House Antitrust Subcommittee’s report, which Ms. Khan worked on as a counsel to the panel, determined that Amazon had “monopoly power” over sellers on its site, bullied retail partners and improperly used seller data to compete with rivals.</p><p>In a blog post the day of the congressional report, Amazon warned against “ill-conceived ideas” about regulation that threatened to force changes to its platform that it said would hurt both consumers and small sellers. “All large organizations attract the attention of regulators, and we welcome that scrutiny,” it said. “But large companies are not dominant by definition, and the presumption that success can only be the result of anti-competitive behavior is simply wrong.”</p><p>The Wall Street Journal in a 2020 article detailed how employees in Amazon’s private brands business have used data about independent sellers on the company’s platform to develop competing products, a practice at odds with the company’s stated policies. The Journal also reported about Amazon’s tactic of leveraging dominance in one business to compel partners to accept terms from another, which rivals said go beyond typical product bundling and tough negotiating in part because the company threatens punitive action on vital services it offers, such as its retail platform.</p><p>Amazon at the time said that it prohibited employees from using nonpublic, seller-specific data to determine which products it launched, and that negotiating across its business units was normal practice in business.</p><p>The FTC also has been investigating non-antitrust issues related to Amazon, including whether the company might have used misleading practices to sign up subscribers to its Amazon Prime program, and whether it impedes the ability of consumers to cancel their subscriptions.</p><p>In August, Amazon complained about the FTC’s probe and accused the FTC of making excessive and unreasonable demands on founder Jeff Bezos and company executives. It asked the FTC to quash civil subpoenas issued to Mr. Bezos and Chief ExecutiveAndy Jassy. The FTC largely rejected the request.</p><p>In December, Amazon agreed to settle two European Union antitrust cases related to allegations about its treatment of third-party sellers on its platform.</p><p>Amazon, which didn’t pay a fine as part of the settlement, committed to give third-party sellers in the European Union that use Amazon an equal shot at being selected as the default option for the buttons in Amazon’s so-called Buy Box and to qualify for its Prime shipping program. The company also as part of the settlement agreed to abstain from using nonpublic data about sellers on its marketplace to compete against them in the European Union.</p><p>Amazon said at the time that it disagreed with several of the EU’s allegations, but engaged in a settlement to preserve its ability to serve customers and businesses in Europe.</p></body></html>","source":"wsj_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>FTC Prepares Possible Antitrust Suit Against Amazon</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFTC Prepares Possible Antitrust Suit Against Amazon\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-04 07:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/ftc-prepares-possible-antitrust-suit-against-amazon-11675438256?mod=hp_lead_pos4><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Federal Trade Commission considers challenge to array of practices by Amazon, a target of criticism from Chair Lina KhanThe FTC has looked at business practices at Amazon in recent years including ...</p>\n\n<a href=\"https://www.wsj.com/articles/ftc-prepares-possible-antitrust-suit-against-amazon-11675438256?mod=hp_lead_pos4\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0234570918.USD":"高盛全球核心股票组合Acc Close","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","AMZN":"亚马逊","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU0238689110.USD":"贝莱德环球动力股票基金","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","BK4532":"文艺复兴科技持仓","LU0079474960.USD":"联博美国增长基金A","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU0061474960.USD":"天利环球焦点基金AU Acc","BK4585":"ETF&股票定投概念","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0109392836.USD":"富兰克林科技股A","BK4566":"资本集团","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","BK4524":"宅经济概念","BK4535":"淡马锡持仓","BK4538":"云计算","BK4527":"明星科技股","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","BK4579":"人工智能","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4550":"红杉资本持仓","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","BK4503":"景林资产持仓","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","BK4122":"互联网与直销零售","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","BK4561":"索罗斯持仓","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","BK4581":"高盛持仓","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0289941410.SGD":"AB FCP I Dynamic Diversified AX SGD","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","LU0528227936.USD":"富达环球人口趋势基金A-ACC"},"source_url":"https://www.wsj.com/articles/ftc-prepares-possible-antitrust-suit-against-amazon-11675438256?mod=hp_lead_pos4","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2308697228","content_text":"Federal Trade Commission considers challenge to array of practices by Amazon, a target of criticism from Chair Lina KhanThe FTC has looked at business practices at Amazon in recent years including whether it favors its own products versus competitors’ on its platforms.The Federal Trade Commission is preparing a potential antitrust lawsuit against Amazon.com Inc. that in the coming months could challenge an array of the tech giant’s business practices as anticompetitive, according to people familiar with the matter.The timing of any case remains in flux, some of the people said. The commission also could opt not to proceed, and doesn’t always bring cases even when it is making preparations to do so.Amazon officials haven’t had individual late-stage meetings with each of the FTC commissioners to make their arguments against a legal challenge, those people said.The commission in recent years has been examining Amazon practices including whether it favors its own products over competitors’ on its platforms and how it treats outside sellers on Amazon.com, according to some of the people familiar with the matter. The FTC also has been scrutinizing the company’s Amazon Prime subscription service’s bundling practices, some of the people said. Exactly which aspects of the business the FTC would target in a potential Amazon lawsuit couldn’t be learned.Amazon and the FTC declined to comment. The company has said repeatedly that it competes fairly and that its services benefit both customers and sellers on its platform.If the commission does sue, it would mark a signature moment in the tenure of FTC Chair Lina Khan, who built her career in part by arguing in a widely read academic paper that Amazon had amassed too much market power and that antitrust law had failed to restrain it.An FTC case also would be an escalation of efforts by U.S. antitrust enforcers to rein in the nation’s largest technology companies. The commission sued Facebook in 2020, accusing it of buying and freezing out small startups to choke competition. The case remains pending. The Justice Department, which shares antitrust authority, has filed two broad antitrust lawsuits against Alphabet Inc.’s Google, including one last month that targets the company’s ad-tech business.Facebook-parent Meta Platforms Inc. has rejected the FTC’s assertions and said its acquisitions have been good for competition and good for those who use its products. Google said the Justice Department’s arguments are flawed and that the advertising technology sector is highly competitive.The FTC began investigating Amazon during the tenure of Republican Chairman Joseph Simons, who ran the agency while Donald Trump was president. In 2019, Mr. Simons and his counterparts at the Justice Department brokered a jurisdictional agreement for federal antitrust investigations of big technology companies. The Justice Department took the reins on Google and Apple Inc. while the FTC took Amazon and Facebook.Shortly after Ms. Khan was confirmed as FTC chair in 2021, Amazon filed a petition with the commission that argued she should be recused in investigations of the company, in light of her extensive past criticisms of Amazon. The commission hasn’t publicly responded to that petition, though it has rejected similar recusal arguments made by Facebook. A federal judge also ruled against Facebook on the recusal issue.Amazon, Apple, Google and Meta were the focus of a 16-month congressional antitrust investigation into the competitive behaviors of the tech giants that concluded with a 449-page report in 2020. The House Antitrust Subcommittee’s report, which Ms. Khan worked on as a counsel to the panel, determined that Amazon had “monopoly power” over sellers on its site, bullied retail partners and improperly used seller data to compete with rivals.In a blog post the day of the congressional report, Amazon warned against “ill-conceived ideas” about regulation that threatened to force changes to its platform that it said would hurt both consumers and small sellers. “All large organizations attract the attention of regulators, and we welcome that scrutiny,” it said. “But large companies are not dominant by definition, and the presumption that success can only be the result of anti-competitive behavior is simply wrong.”The Wall Street Journal in a 2020 article detailed how employees in Amazon’s private brands business have used data about independent sellers on the company’s platform to develop competing products, a practice at odds with the company’s stated policies. The Journal also reported about Amazon’s tactic of leveraging dominance in one business to compel partners to accept terms from another, which rivals said go beyond typical product bundling and tough negotiating in part because the company threatens punitive action on vital services it offers, such as its retail platform.Amazon at the time said that it prohibited employees from using nonpublic, seller-specific data to determine which products it launched, and that negotiating across its business units was normal practice in business.The FTC also has been investigating non-antitrust issues related to Amazon, including whether the company might have used misleading practices to sign up subscribers to its Amazon Prime program, and whether it impedes the ability of consumers to cancel their subscriptions.In August, Amazon complained about the FTC’s probe and accused the FTC of making excessive and unreasonable demands on founder Jeff Bezos and company executives. It asked the FTC to quash civil subpoenas issued to Mr. Bezos and Chief ExecutiveAndy Jassy. The FTC largely rejected the request.In December, Amazon agreed to settle two European Union antitrust cases related to allegations about its treatment of third-party sellers on its platform.Amazon, which didn’t pay a fine as part of the settlement, committed to give third-party sellers in the European Union that use Amazon an equal shot at being selected as the default option for the buttons in Amazon’s so-called Buy Box and to qualify for its Prime shipping program. The company also as part of the settlement agreed to abstain from using nonpublic data about sellers on its marketplace to compete against them in the European Union.Amazon said at the time that it disagreed with several of the EU’s allegations, but engaged in a settlement to preserve its ability to serve customers and businesses in Europe.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":72,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}