Italy opens antitrust probe into Amazon, Apple collusion

MILAN (Reuters) - Italy's antitrust authority said on Wednesday it had opened an investigation into whether Apple Inc and Amazon Inc had engaged in anti-competitive cooperation in the sale of Apple products and Beats headphones. It said the investigation was aimed at establishing whether Apple and Amazon had reached an agreement against market rules to prevent electronic retailers not included in Apple's official programme selling the products online. According to the watchdog, the alleged behaviour could have created barriers to entry, affecting competition on prices.

Reuters July 23, 2020 00:07:24 IST
Italy opens antitrust probe into Amazon, Apple collusion

Italy opens antitrust probe into Amazon Apple collusion

MILAN (Reuters) - Italy's antitrust authority said on Wednesday it had opened an investigation into whether Apple Inc and Amazon Inc had engaged in anti-competitive cooperation in the sale of Apple products and Beats headphones.

It said the investigation was aimed at establishing whether Apple and Amazon had reached an agreement against market rules to prevent electronic retailers not included in Apple's official programme selling the products online.

According to the watchdog, the alleged behaviour could have created barriers to entry, affecting competition on prices.

The Italian competition authority said in a statement that its officials searched Amazon and Apple offices in Italy on Tuesday.

An Amazon spokesman said the company is fully collaborating with the regulator. Apple declined to comment.

(Reporting by Elvira Pollina; editing by James Mackenzie and Elaine Hardcastle)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

Under-supplied palladium races to record, gold awaits Fed
Business

Under-supplied palladium races to record, gold awaits Fed

By Eileen Soreng (Reuters) - Palladium prices hit a record on Tuesday, spurred by persistent supply worries, while gold held a narrow range as investors awaited policy signals from the U.S. Federal Reserve's meeting this week. Palladium hit a record of $2,962.50 per ounce earlier and was up 0.8% at $2,948.69 per ounce by 1:02 p.m

General Electric reports smaller cash outflow, reaffirms 2021 outlook
Business

General Electric reports smaller cash outflow, reaffirms 2021 outlook

By Rajesh Kumar Singh and Ankit Ajmera (Reuters) -General Electric's cash outflow was smaller than estimated in the first quarter even as its lucrative jet-engine business struggled with the pandemic-led collapse of air travel, driving down company revenue. The company also reaffirmed its full-year free cash flow and earnings per share outlook

Oil rises as OPEC+ seen sticking to policy despite India COVID surge
Business

Oil rises as OPEC+ seen sticking to policy despite India COVID surge

By Devika Krishna Kumar NEW YORK (Reuters) - Oil prices edged higher on Tuesday as OPEC+ was expected to stick to existing plans to boost oil output slightly from May 1, suggesting it does not see a lasting impact on demand from India's coronavirus crisis. The group has also ditched plans to hold a full ministerial meeting on Wednesday, sources said. A technical meeting on Monday had voiced concern about surging COVID-19 cases but kept its oil demand forecast unchanged.