Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Politics
Anusuya Lahiri

Amazon's Refusal To Reveal Product Search Algo Could Fuel Its Showdown With Australia

  • Amazon.com Inc (NASDAQ:AMZN) refused to detail its product-search system to an Australian competition regulator, Reuters reports.
  • Amazon has denied offering an advantage to its products over rivals.
  • Amazon's withholding of the information could lead to a possible repeat of Australia's 2021 showdown with Facebook rebranded Meta Platforms Inc (NASDAQ:FB) and Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google forcing them to pay content royalties to the media.
  • The watchdog has heard complaints of large marketplace platforms giving preference to in-house wares.
  • The regulator noted that Amazon did not dominate in Australia, unlike other large online retail markets, such as the U.S. and Britain.
  • Still, allowing large platforms to give their own products preferential treatment might influence purchasing decisions and damage competition calling for the disclosure of any activities which favor their products.
  • Price Action: AMZN shares traded higher by 2.63% at $2,836.10 in the premarket on the last check Thursday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.