Skip to main content

Amazon Is the Latest Corporation to be Fined  for Anticompetitive Practices

Author:
Publish date:
Video Rating:
TV-G
Video Duration:
1:08

Amazon  (AMZN) - Get Amazon.com, Inc. Report is the latest major corporation to have been fined by European regulators for anticompetitive practices. The Italian Competition Authority issued a $1.28 billion fine after it found that “Amazon harmed its competitors in the market for e-commerce logistics services".

Several other U.S.-based companies have had the biggest fines to date issued for anti-competitive practices, primarily for European agencies.

Google  (GOOGL) - Get Alphabet Inc. Class A Report holds the record for the largest fine to date for favoring its own applications on Android devices over those of its competitors.  In 2018, the European Commission issued a $5 billion fine for Google's anti-competitive practices.

Others tech names including Intel  (INTC) - Get Intel Corporation Report, Qualcomm  (QCOM,) - Get Qualcomm Inc Report and Microsoft  (MSFT) - Get Microsoft Corporation Report have been issued some of the largest fines for similar practices of taking unfair advantage in the marketplace.

The European Commission has not been kind when it comes to violations by these tech giants but in many cases, it's just a cost of doing business for companies.

Related Videos