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Amazon reaches EU deal over data, avoids fine
STORY: Amazon has reached a settlement with the European Union over three antitrust probes.It’s a deal which saves Amazon from a fine of up to 10% of its global turnover.Tuesday’s (December 20) announcement came after the U.S. online retailer addressed the EU’s concerns over its use of sellers’ data.Amazon faced charges of using its size, power, and data to push its own products to gain an unfair advantage over rivals using its platform.The company has agreed not to use sellers’ data for its own competing retail business and private label products.Amazon has also agreed to set up a second prominently displayed “buy box” for a rival product.That if it differs substantially in price and delivery from the product in the first box.That was in response to whether it treats sellers equally when ranking their offers for the “buy box” on its website.In yet another case, Amazon agreed that sellers under Amazon’s Prime feature could choose their own logistics and delivery services.They will not have to use those approved and chosen by Amazon.EU Competition Commissioner Margrethe Vestager said the firm addressed the Commission’s preliminary concerns about its practices.Amazon said it was pleased with the outcome.
