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Amazon, which has 1 billion items in its online superstore, created a "secret algorithm internally code named Project Nessie to identify specific products for which it predicts other online stores will follow Amazon s price increases. . Amazon used Project Nessie to extract more than a billion dollars directly from Americans pocketbooks," the FTC said. ....
The lawsuit marks the latest US government action aimed at breaking Big Tech s dominance of the internet.It 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. ....
International Business News: The US Federal Trade Commission on Tuesday filed a long-awaited antitrust lawsuit against Amazon.com, days after similar lawsuits were filed against A ....
Last month, SoftBank signed a deal to buy the 25% stake it did not already own in Arm from its $100 billion Vision Fund, enabling it to sell fewer Arm shares in the IPO. ....