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He sold shares worth roughly $8.5 billion in February, after the stock rallied 80% in 2023. Amazon founder and executive chair Jeff Bezos is planning to sell almost $5 billion worth of shares in the e-commerce giant, a regulatory filing showed, after its stock hit a record high. The proposed sale of 25 million shares…
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Sellers joining the bargain site can determine product selection and pricing, the report said. (File) Amazon.com plans to launch a section on its shopping site featuring cheap items that ship directly to overseas consumers from warehouses in China, the Information reported on Wednesday, citing slides shown to Chinese sellers. The new marketplace, Amazon’s most aggressive…
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Amazon was not immediately available for comment. Milan: Italy’s antitrust authority has fined two subsidiaries of Amazon 10 million euros ($10.70 million) for alleged unfair commercial practices, the regulator said on Wednesday. According to the watchdog, Amazon has “significantly restricted consumers freedom of choice” by automatically pre-setting the ‘Subscribe&Save’ option, for regular scheduled deliveries rather…
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The story so far: In a comprehensive slew of measures to ensure “contestable and fair markets in the digital sector” in line with the provisions of the Digital Markets Act (DMA), the European Commission on March 25 initiated ‘non-compliance investigations’ against Apple, Meta and Google’s parent Alphabet. It will also investigate Amazon’s ranking practices on…
Brussels, Belgium: Amazon on Wednesday lost its fight to suspend a requirement regarding its online advertising under EU tech rules after Europe’s top court backed EU regulators, saying EU interests outweigh the US online retailer’s material interests. Under the Digital Services Act (DSA) which kicked in last year, Amazon was designated as a very large…
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Europeans scrolling their phones and computers this week will get new choices for default browsers and search engines, where to download iPhone apps and how their personal online data is used. They’re a part of changes required under the Digital Markets Act, a set of European Union regulations that six tech companies classed as “gatekeepers”…
File picture of Amazon founder Jeff Bezos, who is once again the world’s richest man | Photo Credit: AP Amazon founder Jeff Bezos took back his spot as the world’s richest man on Monday, dethroning Elon Musk on the Bloomberg Billionaires Index. Mr. Bezos’ net worth stands at $200 billion, according to the tracker, surpassing…
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Nokia said the streaming market is estimated to reach $300 billion by 2027. Washington, United States: Finnish telecom giant Nokia said Tuesday it is suing Amazon in five global jurisdictions, including the United States and India, over patent infringements on video-related technologies. Nokia said it is also suing HP, formerly known as Hewlett-Packard, in a…
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Amazon’s first pair of prototype satellites for its planned Kuiper internet network. Washington: Amazon’s first pair of prototype satellites for its planned Kuiper internet network were launched to space on Friday from Florida, the company’s first step before it deploys thousands more in orbit to beam the internet globally. (Except for the headline, this story…
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If you spend much time online you’ve probably seen one of Temu’s colourful ads – punctuated by its catchy tagline: “shopping like a billionaire”. Temu specialises in selling various everyday items, including clothing, toys and household goods, for extremely low prices. Shanghai-based company PDD Holdings launched the online marketplace late last year (initially in the…
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