Amazon lands in trouble again: Hit with consumer complaint over Prime Day endorsements
Posted on 23rd July 2019 |
.jpg) |
| Amazon.com Inc. should be investigated by U.S. regulators over undisclosed paid endorsements on Prime Day, a consumer advocacy group says. Washington-based Public Citizen asked the Federal Trade Commission in a letter dated Tuesday to examine the online retailer’s associates program, which is used by Amazon to build word-of-mouth sales on the platform in exchange for commissions. “When consumers consider an associate’s recommendation for a ‘best buy,’ it is of material interest to them if the associate has a monetary interest in ensuring that the consumer does, in fact, buy,” Public Citizen President Robert Weissman wrote. The complaint comes as Amazon is facing increasing scrutiny in Washington over whether it’s harming competition. As part of an agreement with the Justice Department, the FTC took responsibility for a potential antitrust investigation into Amazon. The agency enforces deceptive advertising cases against companies. The Seattle-based company didn’t respond to an email seeking comment. Amazon Prime Day, a two-day summer sales event, was started in 2015 to lure new Prime members, who pay monthly or annual fees for shipping discounts and other perks. Under Amazon’s associates program, selected reviewers refer their audiences to products on Amazon in exchange for a commission on subsequent sales. Public Citizen argued they function as endorsers who are paid for the endorsement, which requires disclosure. Public Citizen said it found numerous examples of Prime Day recommendations like posts on Instagram with no disclosures or inadequate disclosures. It acknowledged some reviews may be genuinely independent. |
|
|
|
|
Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
.jpg) |
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. |
|
|
Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
.jpg) |
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. |
|
|
LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
.jpg) |
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). |
|
|
Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
.jpg) |
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. |
|
|
World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
.jpg) |
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. |
|
|
|
|
| Be the first person to write a business review for Amazon lands in trouble again: Hit with consumer complaint over Prime Day endorsements |
|
|
|
