The FTC is primed for Amazon
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 27 September 2023
⏱️ 10 minutes
🧾️ Download transcript
Summary
The US Federal Trade Commission has accused Amazon of wielding monopolistic control over online markets, JPMorgan Chase said it settled lawsuits related to its dealings with Jeffrey Epstein’s human trafficking operation, and the FT’s Lauren Fedor explains what’s at stake with a looming US government shutdown. Plus, sterling hit a six-month low against the dollar.
Mentioned in this podcast:
FTC lawsuit accuses Amazon of wielding monopoly power over online retail
JPMorgan settles Jeffrey Epstein lawsuits with US Virgin Islands and Jes Staley
Lawmakers warn that US is heading for shutdown as budget talks stall
Moody’s warns federal shutdown would be ‘negative’ for US debt rating
Sterling heads for worst month since Liz Truss’s ‘mini’-Budget
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:12.4 | Good morning from the Financial Times. |
| 0:13.9 | Today is Wednesday, September 27th, and this is your FT News Briefing. |
| 0:18.8 | US regulators said that Amazon is monopolizing online markets. |
| 0:22.8 | JP Morgan Chase settled lawsuits that deal with Jeffrey Epstein, |
| 0:26.6 | and yet again, the US government is on the brink of a shutdown. |
| 0:30.6 | A Mark Philippineau, and here's the news you need to start your day. |
| 0:50.8 | The Federal Trade Commission accused Amazon of being a monopoly and a lawsuit yesterday, |
| 0:56.4 | it is a big moment for FTC chair Lina Khan. |
| 0:59.6 | She's pushed for stronger anti-trust laws for years. |
| 1:03.0 | And in June, the FT News said the tech giant was tricking customers into signing up for Amazon Prime. |
| 1:09.2 | I'm joined now by the FT's US Legal and Enforcement Correspondence, |
| 1:12.6 | Stefania Palma, who is covering the lawsuit. |
| 1:15.4 | Hi, Stefania. |
| 1:16.4 | Hi, Mark. |
| 1:17.6 | Okay, so what is in the lawsuit? |
| 1:19.6 | It's a very extensive complaint, but the lawsuit focuses on a couple of |
| 1:25.4 | alleged schemes, and the first one involves sort of strategies to stop sellers from actually |
| 1:32.5 | offering lower prices on other platforms across the internet. |
| 1:36.9 | And the other alleged scheme says that Amazon was basically requiring merchants to use |
| 1:44.1 | its own fulfillment service for, say, logistics network and delivery that the FTC |
... |
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