• Wed. Sep 28th, 2022

Amazon proposes concessions as it looks to settle EU antitrust cases: report

Byanna

Jul 14, 2022 , ,
Boeing stock jumps nearly 8% after maker's commercial-jet deliveries rise more than 50% in Q2


Amazon.com Inc.
AMZN,
+1.08%

has proposed on Thursday certain concessions as the e-commerce giant looks to settle antitrust cases against it in the European Union, according to a report by the Wall Street Journal. Amazon’s stock fell 0.9% in premarket trading. As part of the concessions, Amazon said it will not use nonpublic data about sellers on its marketplace that would help it compete with third-party sellers, and will allow Prime sellers to choose any delivery services, the newspaper reported. The report said Amazon wouldn’t pay a fine if its concessions are accepted. Amazon’s stock has dropped 27.2% over the past three months through Wednesday, while the S&P 500
SPX,
-0.45%

has lost 13.5%.



Image and article originally from www.marketwatch.com. Read the original article here.