FRANKFURT: Amazon has reached a deal with Germany's anti-trust authority to overhaul its terms of service for third-party merchants, acting to ...
FRANKFURT: Amazon has reached a deal with Germany's anti-trust authority to overhaul its terms of service for third-party merchants, acting to appease regulators as the European Union announced its own investigation of the e-commerce giant.
"We have achieved far-reaching improvements for retailers on Amazon's marketplaces," cartel office chief Andreas Mundt said in a statement."We are dropping our investigation." At issue is the power of so-called platform companies that provide a venue for others, for example, to sell new or second-hand books.
U.S. lawmakers raised similar concerns in a hearing on Tuesday, pressing Amazon counsel Nate Sutton over allegations it competed against its own sellers and pushed them to buy advertising and fulfilment services.Among the changes in its new terms of service, Amazon will comply with European rules governing liability towards its business partners on its European platforms, whereas earlier it had faced no such liability.
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