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FTC accuses Amazon of monopoly power, JP Morgan Chase settles Epstein lawsuits, US government faces shutdown, Sterling hits six-month low
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- The FTC accuses Amazon of monopolistic practices, alleging that the company restricts sellers from offering lower prices on other platforms and forces them to use its fulfillment service.
- JP Morgan Chase settles lawsuits related to its dealings with Jeffrey Epstein, agreeing to pay $75 million to the US Virgin Islands and undisclosed terms with former banker Jess Staley.
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Amazon accused of being a monopoly by FTC
The Federal Trade Commission (FTC) has filed a lawsuit accusing Amazon of monopolistic practices. The lawsuit alleges that Amazon used strategies to prevent sellers from offering lower prices on other platforms and required sellers to use its own fulfillment service, making it more expensive for them to offer products on other platforms. This leaves Amazon as the most attractive and sometimes only option for sellers. Amazon has denied the allegations and stated that the complaint is wrong on the facts and the law.
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highlights
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