Project Zero: Amazon firms up plan to eliminate fake products on its site Posted on 3rd January 2019 |
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| Amazon is taking a new initiative called Project Zero in a bid to get rid of counterfeit products on its website. Once approved, Project Zero will allow the brands to directly flag and delete fake listings themselves. As per the current process, companies need to forward a request to Amazon if they spot fake versions of their products. The e-commerce company then evaluates the claims and removes the counterfeit product. The process is quite similar to the copyright takedown process of YouTube, a tech platform that often sees false or misleading content. Amazon too has long struggled to deal with false or misleading information on its platform and removing fake products has proven quite complicated. Now, with Project Zero, Amazon hopes to boost its efforts to eliminate fakes on its site. In its initial stages, Project Zero is going to be an invite-only programme where only the chosen brands will have the power to remove fake products. According to Amazon, it is according brands the power as it believes that “the combined strengths of Amazon and brands can drive counterfeits to zero”. The company also cautions that the “brands must maintain a high bar for accuracy in order to maintain their Project Zero privileges.” The company will impart training to Project Zero users and will actively monitor the cases to prevent any abuse of the platform. Amazon’s Project Zero will feature self-service counterfeit removal for brands and automated scans of logos as well as trademarks on its site. In addition, Amazon is also offering product serialization service for companies under which a unique code will be put on products during manufacturing which will allow Amazon to ascertain the authenticity of the product before it leaves a warehouse. Moreover, to ensure speedy redressal, the brands joining the Project Zero will be able to delete the products that they deem fake without reporting it to Amazon first. In turn, Amazon will process this information to strengthen its own automated processes. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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| Be the first person to write a business review for Project Zero: Amazon firms up plan to eliminate fake products on its site |
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