The FTC and 17 state attorneys general filed an antitrust suit against Amazon on Tuesday, alleging the company operates an illegal monopoly.
(Bloomberg) -- Apple Inc.’s lucrative agreement to use Alphabet Inc.’s Google as the default search engine for the iPhone includes a provision that the two tech giants will “support and defend” the deal against government scrutiny, a top Apple executive said at an antitrust trial.Most Read from BloombergDimon Warns 7% Fed Rate Still Possible, Times of India SaysRepublican Moderates Turn to Rare Maneuver to Avoid Lengthy Government ShutdownIndians Have Five Days to Deposit $3 Billion in Soon-to-B
The U.S. Federal Trade Commission filed a long awaited antitrust lawsuit against Amazon.com on Tuesday, and asked the court to consider forcing the online retailer to sell assets as the government pressed on with its fight to rein in Big Tech's domination of the internet. The FTC said that Amazon restricts retailers on its marketplace from discounting, which stifled competition, and forced sellers to use its 'fulfillment service,' a reference to its nationwide network of delivery vans and warehouses, which some critics say should be hived off from Amazon's web business. The lawsuit had been expected after years of complaints that Amazon.com and other tech giants abused their dominance of search, social media and online retailing to become gate keepers on the most lucrative aspects of the internet.