FT News Briefing The FTC is primed for Amazon
Sep 27, 2023
The podcast discusses the FTC's lawsuit against Amazon, alleging monopolistic control over online markets. Listeners learn about claims that Amazon forces sellers to use its logistics services and restricts them from offering lower prices elsewhere. The conversation shifts to JPMorgan Chase's recent settlements regarding its connections to Jeffrey Epstein's human trafficking operations. Finally, the looming threat of a U.S. government shutdown adds tension, with mentions of its potential impact on the country's debt rating.
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Amazon's Monopoly Allegations
- The FTC is suing Amazon for alleged monopolistic practices, focusing on stopping sellers from offering lower prices elsewhere.
- Amazon is also accused of requiring costly fulfillment services, making other platforms less attractive.
JPMorgan's Epstein Settlements
- JPMorgan Chase settled lawsuits related to Jeffrey Epstein's human trafficking operation, paying $75 million to the U.S. Virgin Islands.
- The bank also settled with Jess Staley, a former executive, over his relationship with Epstein.
Looming Government Shutdown
- Congress faces a looming government shutdown deadline if a budget deal isn't reached by Saturday.
- A potential shutdown could impact federal government operations and worker pay, with some market concern.