Amazon to Make Big Business Changes in EU Settlement

[Epoch-Times-Bot]

Amazon to Make Big Business Changes in EU Settlement

Amazon will make major changes to its business practices to end competition probes in Europe by giving customers more visible choices when buying products and, for Prime members, more delivery options, European Union regulators said Tuesday.
The EU’s executive Commission accepted the legally binding commitments from Amazon to resolve two antitrust investigations, allowing the company to avoid a legal battle with the EU's top antitrust watchdog that could potentially have ended with fines worth up to 10 percent of annual worldwide revenue.
The agreement marks another advance by EU authorities as they clamp down on the power of Big Tech companies, and comes just a day after the Commission accused Facebook parent Meta of distorting competition in the classified ads business. The 27-member bloc has hit Google with billions in fines, opened investigations into Apple and is set to enact sweeping regulations by 2024 aimed at preventing so-called digital gatekeepers from dominating online markets....

Source: Amazon to Make Big Business Changes in EU Settlement

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