About This Source - Bloomberg QuickTake: Now
Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.
It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.
Recent from Bloomberg QuickTake: Now:
Bloomberg Quicktake: Now published this video item, entitled “Amazon Works to Avoid Google’s Fate With EU Antitrust Regulators” – below is their description.
Amazon faced the prospect of an escalating conflict with the European Union in November when Margrethe Vestager, the EU’s competition chief, laid out evidence that the company may have unfairly used sales data from smaller retailers on its platform.
The specter of Amazon using such data to identify emerging trends has been a major concern for regulators worldwide, and interest from Vestager—perhaps the world’s most feared antitrust enforcer—was an ominous sign. The EU also recently started a second probe into how the company picks products for a highlighted “buy box.”
But while Vestager laid the groundwork for what could be a repeat of the bruising fight the EU has waged against Alphabet Inc.’s Google, resulting in fines of about $9 billion, she has also struck a surprisingly conciliatory note, hinting that Amazon.com Inc. might not have to head down the same track.
The difference may be Amazon’s willingness to address enforcers’ concerns before the legal process goes too far. Amazon settled a 2017 EU probe into e-books, says Vestager, and has worked with other regulators, such as Germany’s Federal Cartel Office.
“Amazon has been very forthcoming to solve the issues at stake” in other cases, Vestager told reporters on Nov. 10. While Google did try to settle three investigations the EU waged over the past decade, its offers either came too late to be taken seriously or didn’t go far enough to soothe angry rivals and their political supporters.Bloomberg Quicktake: Now YouTube Channel
Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.
In This Story: EU
The European Union (EU) is a political and economic union of 27 member states that are located primarily in Europe. Its members have a combined area of 4,233,255.3 km² and an estimated total population of about 447 million.