Italy fines Amazon $1.3 billion for anti-competitive practices

CNBC Television published this video item, entitled “Italy fines Amazon $1.3 billion for anti-competitive practices” – below is their description.

Margrethe Vestager, EU commissioner for competition, joins ‘Closing Bell’ after Italy fined Amazon $1.3 billion, saying that the company harms competition by favoring sellers that use Amazon’s logistics services.

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In This Story: Italy

Italy is a republic in central Europe which forms a peninsula in the Mediterranean Sea as well as bordering France, Switzerland, Austria and Slovenia. The islands of Sardinia and Sicily form part of the main territory of Italy. Italy is part of the Eurozone, having entered the common currency on 1st January 1999.

The capital, Rome, is home to the Vatican as well as landmark art and ancient ruins. Other major cities include Florence, with Renaissance masterpieces such as Michelangelo’s “David” and Brunelleschi’s Duomo; Venice, the city of canals; and Milan, Italy’s fashion capital.

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