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Stores are open, but vendors face longer payment terms and financial uncertainty. By: Ben Unglesbee The retail supply chain, like the retail industry itself, has gone through a dramatic period of stress since March 2020. The early months of the COVID-19 crisis brought ubiquitous order cancellations. Almost as pervasive were retailers efforts to push out payments for shipments. In turn the cash flow crisis in retail hit suppliers just as hard. Businesses furloughed employees, negotiated with landlords and other vendors, and wondered if they would be able to stay in business, just as retailers did. By summer stores had reopened in most areas and orders were coming in which is crucial for both retailers and vendors but suppliers financial woes persisted. ....
Remedies to gatekeepers range from nothing to an antitrust breakup Share Copy US antitrust legislators held a hearing on Thursday to consider how to limit the power of technology gatekeepers like Amazon, Apple, Google, and Facebook in order to promote competition. Over several hours, the House Subcommittee on Antitrust, Commercial, and Administrative Law considered the testimony of academics, policy advocates, legal professionals, and a map company executive as they weighed options for limiting anticompetitive conduct. With today’s hearing, we take an important step in the process of restoring competition online, said House Judiciary Committee Chairman Jerrold Nadler (D-NY) in a statement. The rise and abuse of gatekeeper power by a few dominant firms has undermined the goals of the open Internet. ....
The rise and abuse of gatekeeper power by a few dominant firms has undermined the goals of the open internet, Nadler said. Instead of having an open, competitive ecosystem, online gatekeepers can and do put a thumb on the scale in favor of their own business and against innovators, entrepreneurs, and startups. David Cicilline, chair of the Subcommittee, put it more succinctly. Change is coming, he said. Laws are coming. There were no big tech companies at the hearings yesterday. Instead, representatives from various organizations, including the American Economic Liberties Project, Public Knowledge, the Global Antitrust Institute, economics consultancy Econ One, and legal firm Kellogg, Hansen, Todd, Figel & Fredrick, testified on topics ranging from data interoperability to non-discrimination. ....
House lawmakers argue to update antitrust laws to rein in tech giants Change is coming. Laws are coming. Listen - 03:24 House lawmakers held another tech antitrust hearing. Getty The dominance of Facebook, Google, Apple and Amazon was again in the congressional spotlight on Thursday, as lawmakers discussed ways to reform antitrust laws to rein in Big Tech. At a hearing before a House Judiciary antitrust subcommittee, the lawmakers examined the gatekeeper power of giant Silicon Valley companies the first in a series of three hearings aimed at modernizing antitrust laws in the digital era. Editors top picks Subscribe to CNET Now for the day s most interesting reviews, news stories and videos. ....