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Amazon has been fined $1.3 billion by antitrust regulators in Italy.The fine is one of the largest leveraged in Europe against the online retail giant.
According to the antitrust watchdog, Amazon has abused its dominant market position and pushed third-party sellers to use the company’s logistics service ‘Fulfillment by Amazon' (FBA).The Italian authority concluded that third-party sellers don’t get the same treatment if they’re leveraging FBA or using their own logistics stack.
The 250 page report states that the e-commerce giant also prevents third-party sellers from gaining access to Amazon's Prime loyalty program, “which makes it easier to sell to the more than seven million most-loyal and highest-spending consumers."Amazon said it “strongly disagreed” with the decision and would appeal, calling the fines and proposed remedies “unjustified and disproportionate
 

Amazon faces a billion dollar fine for abusing market dominance

The fine levied on Amazon by the Italian watchdog is one of the largest leveraged in Europe against the online retail giant.


Billion dollar fine for Amazon

The fine is one of the largest levied by a single nation in the EU as part of a years-long battle over online antitrust issues.

Amazon has been&nbsp;fined $1.3 billion by antitrust regulators in Italy.The fine is one of the largest leveraged in Europe against the online retail giant.
According to the antitrust watchdog, Amazon has abused its dominant market position and pushed third-party sellers to use the company&rsquo;s logistics service &lsquo;Fulfillment by Amazon' (FBA).
Also watch |&nbsp;<a title="Metro Brand IPO opens today; Will Rakesh Jhunjhunwala have a 'healthier' experience?" href="https://www.editorji.com/business-news/markets/metro-brand-ipo-opens-today-will-rakesh-jhunjhunwala-have-a-healthier-experience-1639105702612">Metro Brand IPO opens today; Will Rakesh Jhunjhunwala have a 'healthier' experience?</a>
The Italian authority concluded that third-party sellers don&rsquo;t get the same treatment if they&rsquo;re leveraging FBA or using their own logistics stack. 
The 250 page report states that the e-commerce giant also prevents third-party sellers from gaining access to Amazon's Prime loyalty program, &ldquo;which makes it easier to sell to the more than seven million most-loyal and highest-spending consumers." Amazon said it &ldquo;strongly disagreed&rdquo; with the decision and would appeal, calling the fines and proposed remedies &ldquo;unjustified and disproportionate
&nbsp;

Buy now Pay Later(BNPL) options apply only to a specific purchase from a specific merchant, credit cards can generally be used anywhere to make many types of purchases.

EJ Explains: Buy now Pay Later(BNPL), is it really a good offer?

Buy Now Pay Later (BNPL) has become a prominent financing form but is it really a good offer? 

Buy Now Pay Later, Is the BNPL offer booming or a bubble?

Redseer estimates India's Buy Now Pay Later(BNPL) market will rocket to $45-50 billion by 2026 from $3-3.5 billion now.

Buy now Pay Later(BNPL): Imagine this situation: You&rsquo;re craving to proceed from your shopping cart, but you know don&rsquo;t have enough money to cover the cost of your items. You could wait until you get your next paycheck or you could use a &lsquo;buy now, pay later&rsquo; loan to pay for your shopping list?
<h2>What is 'Buy Now Pay Later(BNPL)'?</h2>
As consumer expectations have shifted away from traditional lending and payment products toward low-cost or free services with convenient, Buy Now Pay Later as it reads allows the customers to buy the product they need on loan and can pay the amount later.
BNPL has emerged as a more convenient payment method essentially decreasing the financial burden on borrowers by offering no-cost EMIs. The options can be found on food delivery, travel booking, grocery and other essential delivery platforms too.
<h2>Who is offering this Buy Now Pay Later(BNPL) option?</h2>
Given the tons of BNPL apps in the market, it may get difficult for you to decide which one to opt for. Several startups such as LazyPay, Simpl, ZestMoney, and&nbsp;ePayLater, Felxmoney operating in this space have changed the way credit works in India.
Apart from these, traditional banks have also forayed into the segment such as HDFC Bank&rsquo;s FlexiPay and ICICI Bank&rsquo;s&nbsp;ICICI PayLater offerings.
<h2>Credit cards vs Buy Now Pay Later(BNPL): The better choice</h2>
While BNPL options apply only to a specific purchase from a specific merchant, credit cards can generally be used anywhere to make many types of purchases.
If you have a credit card, you have to pay at least the minimum amount due at the end of the month. However, with buy now, pay later, you might have a three-, five- or 12-month option. This means that while BNPL can offer more flexible terms, credit cards generally will offer more flexible acceptance.&nbsp;
<h2>But is it a good option?</h2>
Even with all the benefits and attractive features, there are things to Know Before using lay later offers-:&nbsp;
&nbsp;&bull;&nbsp;Buy Now&nbsp;Pay Later&nbsp;should be&nbsp;used only when you can repay in time, not for free money.
&nbsp;&bull;&nbsp;Your eligibility to get a credit line is based on your credit score, relationship with these apps, and other factors.
&nbsp;&bull;&nbsp;Delaying the repayment can cost you a hefty late payment fee and unwanted charges, including an exorbitantly high-interest rate.
&nbsp;&bull;&nbsp;Missing even a single payment can reduce your credit score, impacting your future ability to take loans.

As the anti-trust probe against the ecommerce&nbsp;giants Amazon and Flipkart continue, the Commerce Minister welcomed the Supreme Court decision that the trading practices need to be examined. In a strongly worded remark Piyush&nbsp;Goyal&nbsp;told ministers in Parliament&nbsp;"These companies used legal tactics to stall the investigation ... I am happy to tell you that yesterday, on the day of the Quit India Movement, all the efforts of these companies failed."&nbsp;The Commerce Minister assured tha
Goyal told lawmakers the big e-commerce firms were supposed to operate a marketplace website that connects buyers and sellers, but it was found they "continuously used various legal tactics" that hurt small businesses.
"The government has taken stern steps," he assured lawmakers as he talked about the allegations that Amazon and Flipkart&nbsp;have vendor preference policies for sellers.&nbsp;

Why Commerce Minister invoked 'Quit India' sentiment while discussing Amazon probe

Why Commerce Minister invoked 'Quit India' sentiment while discussing Amazon, Flipkart probe?

Govt vs Ecommerce

Piyush Goyal's comments are the latest sign of Govt's discontent with the two e-commerce giants Amazon and Flipkart

As the anti-trust probe against the ecommerce&nbsp;giants Amazon and Flipkart continue, the Commerce Minister welcomed the Supreme Court decision that the trading practices need to be examined.
In a strongly worded remark Piyush&nbsp;Goyal&nbsp;told ministers in Parliament&nbsp;"These companies used legal tactics to stall the investigation ... I am happy to tell you that yesterday, on the day of the Quit India Movement, all the efforts of these companies failed."&nbsp;
Also watch:&nbsp;<a href="https://www.edtr.ai/a3k3" target="_blank">Why is Amazon cutting ties with Narayana Murthy's firm amid CCI probe?</a>
 "The government has taken stern steps," he assured lawmakers as he talked about the allegations that Amazon and Flipkart&nbsp;have vendor preference policies for sellers. Commerce Minister reiterated that the two platforms were&nbsp; found&nbsp;"continuously using various legal tactics" that hurt small businesses.
&nbsp;

Food tech giant Zomato&nbsp;delivered mixed menu of earnings&nbsp; to it's investors as it reported a widening loss of Rs 356 cr in the first quarter. However shareholders of the mega debut IPO&nbsp;can take solace that the sales growth of the&nbsp;newly-listed company clocked in a jump of 26 per cent year-on-year to Rs. 1,160 crore for the reported quarter.
The total income of Zomato stood at Rs 916 crore&nbsp;which is a sizeable jump from a revenue of Rs 283.5 crore in the same period year ago. Infact the the gross order value of the business grew more than four-fold year-on-year to Rs. 4,540 crore in Q1 which is a 37% jump (QoQ). The widening loss figure can be attributed&nbsp;to non-cash ESOP expenses, which have increased meaningfully in Q1FY22 due to significant ESOP grants made in the quarter pursuant to the creation of a new ESOP 2021 scheme," Zomato chief executive officer (CEO) Deepinder Goyal said in a statement.Online food ordering firm Zomato&nbsp;also delivered its billionth order last week, co-founder and chief executive officer Deepinder Goyal said on August 10. Goyal&nbsp;said in a blog that&nbsp;"It took us six years to get to this milestone and we hope it takes us much less time to deliver the next billion. The fact that 10&nbsp;percent&nbsp;plus&nbsp;of these billion orders were delivered only in the last three months makes us confident about getting to the next billion much sooner."

Zomato Earnings Menu: Loss widens, 1 billion orders delivered, order value up 4 times

Zomato's net loss widens sharply in Q1, but is it still a hot stock for investors? What's on the plate for shareholders

Zomato's net loss widens

<h1 class="headline">Zomato Q1 net loss widens to Rs 356 crore; revenue rises to Rs 844 crore</h1>

Food tech giant Zomato&nbsp;delivered mixed menu of earnings&nbsp; to it's investors as it reported a widening loss of Rs 356 cr in the first quarter. However shareholders of the mega debut IPO&nbsp;can take solace that the sales growth of the&nbsp;newly-listed company clocked in a jump of 26 per cent year-on-year to Rs. 1,160 crore for the reported quarter.
Also watch:&nbsp;<a href="https://www.edtr.ai/a3wq" target="_blank">Is a Swiggy IPO out for delivery? SoftBank chief says can deliver returns like Zomato</a>
The total income of Zomato stood at Rs 916 crore&nbsp;which is a sizeable jump from a revenue of Rs 283.5 crore in the same period year ago. Infact the the gross order value of the business grew more than four-fold year-on-year to Rs. 4,540 crore in Q1 which is a 37% jump (QoQ). The widening loss figure can be attributed&nbsp;to non-cash ESOP expenses, which have increased meaningfully in Q1FY22 due to significant ESOP grants made in the quarter pursuant to the creation of a new ESOP 2021 scheme," Zomato chief executive officer (CEO) Deepinder Goyal said in a statement. Online food ordering firm Zomato&nbsp;also delivered its billionth order last week, co-founder and chief executive officer Deepinder Goyal said on August 10. Goyal&nbsp;said in a blog that&nbsp;"It took us six years to get to this milestone and we hope it takes us much less time to deliver the next billion. The fact that 10&nbsp;percent&nbsp;plus&nbsp;of these billion orders were delivered only in the last three months makes us confident about getting to the next billion much sooner."

Amazon has decided to discontinue its partnership with NR Narayana Murthy-owned Catamaran Ventures.The Prione Business Services JV was formalised in 2014 and owns&nbsp;Cloudtail&nbsp;one of the largest sellers on Amazon India website.&nbsp;The development comes at a time when CCI is probing the ecommerce&nbsp;giant for&nbsp;issues of vendor bias towards sellers that they have a stake in.&nbsp;The two partners today announced they have mutually decided to not continue their joint venture beyond the end of its current term," Amazon said in a statement on&nbsp;August 9. The JV was up for renewal in May 2022.&nbsp;

Why is Amazon cutting ties with Narayana Murthy's company?

Why is Amazon cutting ties with Narayana Murthy's company? Traders smell foul play as CCI investigates seller bias.

Catamaran-Amazon venture ends,&nbsp;decision follows harsh criticism from traders association for unfair trade practices.

Amazon has decided to discontinue its partnership with NR Narayana Murthy-owned Catamaran Ventures. The Prione Business Services JV was formalised in 2014 and owns&nbsp;Cloudtail&nbsp;one of the largest sellers on Amazon India website.&nbsp;The development comes at a time when CCI is probing the ecommerce&nbsp;giant for&nbsp;issues of vendor bias towards sellers that they have a stake in.&nbsp; The two partners today announced they have mutually decided to not continue their joint venture beyond the end of its current term," Amazon said in a statement on&nbsp;August 9. The JV was up for renewal in May 2022.&nbsp;

The Enforcement&nbsp;Directorate may slap a $1.35 billion or Rs 10,600 crore&nbsp;penalty on the e-commerce giant&nbsp;Flipkart&nbsp;over alleged foreign investment laws violation.
This could be the biggest show-cause notice under the&nbsp;Foreign Exchange Management (FEMA) Act.&nbsp;
As per a Reuters report,&nbsp;Flipkart's&nbsp;founders Sachin Bansal and Binny Bansal as well as its investor Tiger Global received a show-cause notice in July by the agency. The ED in its notice asked&nbsp;why they should not face a fine of $1.35 billion for the lapses.
Flipkart attracted foreign investment and a related party, WS Retail, then sold goods to consumers on its shopping website, which was prohibited under law, the report mentioned.
Indian regulatory authorities have been keeping a close eye on e-commerce platforms Flipkart&nbsp;and Amazon. Both are already facing anti-trust investigations.

Flipkart faces biggest regulatory penalty under FEMA Act

Flipkart Fined| Why the e-commerce giant faces a billion dollar under FEMA

Flipkart Fined| Why the e-commerce giant could face a billion dollar penalty 

<h2 class="synopsis">Notice under various sections of the Foreign Exchange Management Act (FEMA) was issued to 10 people last month that includes Flipkart, its founders Sachin Bansal and Binny Bansal, among others.</h2>

The Enforcement&nbsp;Directorate has slapped a $1.35 billion or Rs 10,600 crore&nbsp;penalty on the Walmart&nbsp;backed e-commerce giant&nbsp;Flipkart&nbsp;over alleged foreign investment laws violation.
This is the biggest show-cause notice under the&nbsp;Foreign Exchange Management (FEMA) Act.&nbsp;
Flipkart's&nbsp;founders Sachin Bansal and Binny Bansal as well as its investor Tiger Global received a show-cause notice in July by the agency.&nbsp;Flipkart attracted foreign investment and a related party, WS Retail, then sold goods to consumers on its shopping website, which was prohibited under law, the report mentioned. Walmart-owned company and its executives will now undergo adjudication that will be conducted by a Special Director-rank officer of the agency based in Chennai.
Indian regulatory authorities have been keeping a close eye on e-commerce platforms Flipkart&nbsp;and Amazon. Both are already facing anti-trust investigations.

The Maharashtra Food and Drug Authority (FDA) on Thursday said it has issued notices to e-commerce giants Amazon and Flipkart after it allegedly found that pregnancy termination kits and pills are available for sale on these platforms without prescription.
The Drugs and Cosmetics Act, 1940 prohibits online distribution of such medicines without any prescription, it said in a statement here.
Acting on a tip-off, the FDA placed orders for "medical termination of pregnancy" kits on Amazon, and the order was accepted by some suppliers based in Uttar Pradesh and Odisha, the authority alleged.
A similar case was found with Flipkart, the FDA alleged. The statement did not give any details of the notices. All in all, it "checked" 34 e-commerce portals to see if they sell medicines without prescriptions, the FDA said.

Notice served to Amazon, Flipkart for supplying pregnancy termination kits and pills

Click here to find out why Amazon and Flipkart&nbsp;have been served a notice by the FDA. Maharashtra&nbsp;drug regulator branch alleges bust on illegal drug sales.&nbsp;

Amazon, Flipkart face FDA heat

Drugs and Cosmetics Act, 1940 bans&nbsp;distribution of such medicines without any prescription.&nbsp;

The Maharashtra Food and Drug Authority (FDA) on Thursday said it has issued notices to e-commerce giants Amazon and Flipkart after it allegedly found that pregnancy termination kits and pills are available for sale on these platforms without prescription.
The Drugs and Cosmetics Act, 1940 prohibits online distribution of such medicines without any prescription, it said in a statement here.
Acting on a tip-off, the FDA placed orders for "medical termination of pregnancy" kits on Amazon, and the order was accepted by some suppliers based in Uttar Pradesh and Odisha, the authority alleged.
A similar case was found with Flipkart, the FDA alleged. The statement did not give any details of the notices. All in all, it "checked" 34 e-commerce portals to see if they sell medicines without prescriptions, the FDA said.

Three-month-old GlobalBees&nbsp;has raised $150 million in a Series A financing round led by FirstCry. GlobalBees&nbsp;a new kid on the startup block is looking to replicate the success of&nbsp;Thrasio in India.&nbsp;Tharsio&nbsp;is a US based e-commerce player that acquires small sellers/brands listed on Amazon marketplace. After the acquisition of Amazon seller&rsquo;s businesses, the Tharsio scales them up. Tharsio&nbsp;is valued around $4 billion currently.&nbsp;This funding&nbsp;makes&nbsp;GlobalBees&rsquo; round one of&nbsp; the largest Series A funding in India.&nbsp;Founded by former Edelweiss executive&nbsp;Nitin Agarwal&nbsp;and&nbsp;Supam Maheshwari, a founder of FirstCry, GlobalBees&nbsp;is looking at acquiring and partnering with business across segments with&nbsp;revenue rate of $1 million to $20 million.In a big bet for going 'Vocal for Local' Nitin&nbsp;Agarwal&nbsp;stated&nbsp;&ldquo;GlobalBees aims to unleash the power of product innovation by Indian entrepreneurs and strategically partner with them to help them realize the full potential of their brand and products.&rdquo;There are currently&nbsp;120,000 sellers on Amazon India, of which around 4,200 crossed Rs 1 crore in sales in 2020.&nbsp;GlobalBees&nbsp;stated it will&nbsp;bring more native brands from Amazon, Flipkart and other e-commerce platforms into its portfolio.&nbsp;
&nbsp;

Startup Spotting: 3-month old GlobalBees raises $150 million led by FirstCry

Startup Spotting: 3-month old GlobalBees&nbsp;raises $150 million led by FirstCry

Lightspeed, Premji Invest, SoftBank, among others participated in the round led by FirstCry

Three-month-old GlobalBees&nbsp;has raised $150 million in a Series A financing round led by FirstCry. GlobalBees&nbsp;a new kid on the startup block is looking to replicate the success of&nbsp;Thrasio in India.&nbsp; Thrasio is a US-based e-commerce player that acquires small sellers/brands listed on the Amazon marketplace. After the acquisition of Amazon seller&rsquo;s businesses,&nbsp;Thrasio scales them up. Thrasio&nbsp;is valued at around $4 billion currently.&nbsp; This funding&nbsp;makes&nbsp;GlobalBees&rsquo; round one of the largest Series A funding in India.&nbsp;Founded by former Edelweiss executive&nbsp;Nitin Agarwal&nbsp;and&nbsp;Supam Maheshwari, a founder of FirstCry, GlobalBees&nbsp;is looking at acquiring and partnering with businesses across segments with a revenue rates of $1 million to $20 million. In a big bet for going 'Vocal for Local' Nitin&nbsp;Agarwal&nbsp;stated&nbsp;&ldquo;GlobalBees aims to unleash the power of product innovation by Indian entrepreneurs and strategically partner with them to help them realize the full potential of their brand and products.&rdquo; There are currently&nbsp;120,000 sellers on Amazon India, of which around 4,200 crossed Rs 1 crore in sales in 2020.&nbsp;GlobalBees&nbsp;stated it will&nbsp;bring more native brands from Amazon, Flipkart, and other e-commerce platforms into its portfolio.&nbsp;
&nbsp;

Flipkart has cashed in $3.6 billion in fresh funding from promoter Walmart and a clutch of global investors that has taken the e-commerce giants' valuation to $37.6 billion. In 2018 Walmart&nbsp;acquired 77% stake in Flipkart&nbsp;at $16 billion valuing the company at $20.8 billion.&nbsp;
The fund raising marks the return of SoftBank as a shareholder of Flipkart. SoftBank had taken the exit from the startup when the Bangalore-based firm sold majority stakes to Walmart in 2018.&nbsp;

Walmart backed Flipkart valued at $37.6 billion as it raises $3.6 billion from investors

SoftBank returns to shop at Flipkart, Walmart backed fund raising values ecommerce giant at $37.6 billion

Flipkart valued at $37.6 billion as it raises $3.6 billion marking the return of SoftBank 

Walmart&nbsp;joins&nbsp;Antara, SoftBank&nbsp;and other investors in latest fund raising.&nbsp;

Flipkart has cashed in $3.6 billion in fresh funding from promoter Walmart and a clutch of global investors that has taken the e-commerce giants' valuation to $37.6 billion. In 2018 Walmart&nbsp;acquired 77% stake in Flipkart&nbsp;at $16 billion valuing the company at $20.8 billion.&nbsp;
ALSO WATCH:&nbsp;<a href="https://www.edtr.ai/9tw2" target="_blank">Startup Digest: Latest from Pharmeasy, MobiKwik IPO, DoSelect Powerplay</a>
The fund raising marks the return of SoftBank as a shareholder of Flipkart. SoftBank had taken the exit from the startup when the Bangalore-based firm sold majority stakes to Walmart in 2018.&nbsp;

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