SAN FRANCISCO — The Federal Trade Commission is looking into allegations that Amazon's discount-pricing policies misled consumers, according to a report today.
The probe comes on the heels of a complaint by advocacy group Consumer Watchdog, which examined 1,000 products on the retailer's website and concluded 61% with list prices were overpriced, Reuters said.
The FTC, which is reviewing Amazon's proposed $13.7 billion acquisition of Whole Foods, declined comment.
Amazon is being scrutinized by the U.S. Federal Trade Commission over whether its discounts on goods are misleading, after a watchdog group complained, says Reuters, citing an unnamed source.
Shares of Amazon (AMZN) are down by $3.18 at $1,025.52, in late trading, after Reuters’s Diane Bartz and Jeffrey Dastin related after market close that the U.S. Federal Trade Commission is looking into allegations “Amazon misleads customers about its pricing discounts,” citing a single unnamed source.
The Federal Trade Commission (FTC) is investigating allegations that Amazon misleads customers about its prices and discounts, Reuters reported.
The probe comes as part of a review of the company’s proposed merger with Whole Foods
The FTC’s probe is reportedly the result of a complaint brought forth by Consumer Watchdog, an advocacy group. In the group’s analysis of 1,000 products on the website they found that 61 percent of the time, the reference or list price that Amazon used to show consumers how much money they were saving increased in a 90-day period.
SANTA MONICA, CA – Consumer Watchdog today called on the House Commerce Committee and Judiciary Committee to hold immediate hearings on a bill amending a key Internet law so websites like Backpage.com that facilitate child sex trafficking can be held accountable by victims and state attorneys general.
A House subcommittee approved critical legislation for the fast-developing driverless car movement this week that sets specific rules for how many such vehicles can be on U.S. roads and the federal government’s role in regulating them. While it would give companies developing the technology the national framework they want, it also raises questions over who is best-suited to ensure this cutting-edge technology is safe.
WASHINGTON (Reuters) - As part of its review of Amazon's (AMZN.O) agreement to buy Whole Foods (WFM.O), the Federal Trade Commission is looking into allegations that Amazon misleads customers about its pricing discounts, according to a source close to the probe.
The FTC is probing a complaint brought by the advocacy group Consumer Watchdog, which looked at some 1,000 products on Amazon's website in June and found that Amazon put reference prices, or list prices, on about 46 percent of them.
Google wants to make its search experience on smartphones more personalized — by showing information based on users’ interests and what’s trending in their area.
The information will appear beneath the search bar on the Google app on Apple and Android devices (eventually, it will be included in Google mobile searches, not just the app). The company will pull information based on what the user searches across Gmail, Search, YouTube and other Google properties. It will also factor in what a user lists on Google calendar.
Amazon’s prices changed hour-by-hour, state-by-state and shopper-by-shopper, according to a May analysis of online school supplies prices from Chrome deal-hunting extension Wikibuy. The extension searches other sites, including Walmart, Jet and eBay, and its price comparison tool pops up a potentially cheaper option, including tax, shipping and any coupons that apply for Chrome browser users. For the study, Wikibuy analyzed the prices of more than 200 back-to-school products over 30 days.
SANTA MONICA, CA – Consumer Watchdog today called on California’s seven members of the House Energy and Commerce Committee to block proposed federal legislation that would undo California’s ground-breaking safety regulations covering the testing of autonomous vehicles.