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EU Probes Amazon

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EU Probes Amazon
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REUTERS/Thilo Schmuelgen
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The EU has launched a formal investigation into how Amazon uses data from other merchants selling goods on its websites, saying it wants to "take a very close look" at the company's business practices to see if they breach antitrust rules.

Amazon, Google, and Facebook are among U.S. tech giants which have triggered complaints from rivals and academics, prompting antitrust enforcers around the world to look at how they use data to boost their market power, which has also led to calls for their break-up.

The EU can fine companies up to 10 percent of their global turnover, as it says the issue was crucial as more and more Europeans shop online. Amazon said it would cooperate fully with the EU investigation.