Robert Besser
30 Sep 2023, 21:49 GMT+10
SEATTLE, Washington: As part of Washington's efforts to stop Big Tech from monopolizing the most lucrative parts of the internet, this week, the US Federal Trade Commission (FTC) filed a landmark antitrust lawsuit against Amazon.com.
The FTC also asked the court to consider forcing Amazon to sell assets and accused the online retailer, worth US$1.3 trillion, of preventing sellers on its online marketplace from offering products at cheaper prices on other platforms.
Amazon is raising costs for consumers and sellers by forcing the latter to use its warehouses and delivery services, the FTC added, stressing that Amazon is a monopoly and abuses its powers.
The lawsuit, joined by 17 state attorneys-general, follows years of complaints against Amazon.com and other tech giants, accused of abusing their dominance of search, social media, and online retailing to gain profits.
The lawsuit was filed in a federal court in Seattle, where Amazon is based.
The Democrats and Republicans have agreed on the need to take action against Big Tech, and the FTC has been especially concerned about Amazon's power.
The lawsuit against the online retail giant comes after a four-year investigation and federal lawsuits against Alphabet's Google and Meta Platforms' Facebook.
The FTC said it would ask the court to issue a permanent injunction ordering Amazon to stop its unlawful conduct.
"Left unchecked, Amazon will continue its illegal course of conduct to maintain its monopoly power," the FTC said in the lawsuit.
Asked in a press briefing about breaking up Amazon, FTC Chair Lina Khan said, "At this stage, the focus is really on liability."
In response, Amazon said that the FTC lawsuit was "wrongheaded" and would harm consumers, leading to higher prices and slower deliveries.
David Zapolsky, Amazon's general counsel, said, "The practices the FTC is challenging have helped to spur competition and innovation across the retail industry and have produced a greater selection, lower prices, and faster delivery speeds for Amazon customers and greater opportunity for the many businesses that sell in Amazon's store."
In a blog post, the company noted it has 500,000 independent sellers on its platform.
Get a daily dose of Central Asia Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Central Asia Times.
More InformationWhile Secretary of State Anthony Blinken has been frantically shuttling around the Middle East trying to stop the Israeli coflict ...
LESBOS, Greece: Greek authorities said a cargo ship sank off the island of Lesbos over the weekend during a storm, ...
COLUMBUS, Ohio: To stop the spread of bird flu, more than 1.3 million chickens will be killed on Ohio's Union ...
In a devastating turn of events, Israel's war on Gaza, sparked by Hamas's unprecedented attacks on October 7, has resulted ...
BATON ROUGE, Louisiana: In a Louisiana election where more than 43,000 people cast their ballots, a candidate for parish sheriff ...
LIVINGSTON, Kentucky: This week, railroad operator CSX said a train derailment involving 16 cars, two of which spilled molten sulfur ...
BANGKOK, Thailand: This week, Thailand's Deputy Finance Minister Krisada Chinavicharana said after a weaker-than-expected third quarter, the country will downgrade ...
LONDON, UK - Shahzad Akbar, a former accountability advisor to former Pakistani Prime Minister Imran Khan, has claimed that an ...
BEIJING, China: The country's commerce ministry said that during a meeting with Vietnamese Prime Minister Pham Minh Chinh in Ho ...
KATHMANDU, Nepal - NP Saud, Minister of Foreign Affairs, urged Qatar's visiting State Minister for Foreign Affairs, Soltan bin Saad ...
DHAKA, Bangladesh - According to Foreign Minister Dr. AK Abdul Momen, Bangladesh and the United States believe in democracy and ...
Naypyitaw, Myanmar - The Tatmadaw, Myanmar's military, showcased its prowess at the 31st ASEAN Armies Rifle Meet (AARM) held in ...