Gold prices add to record high amid fiscal, tariff concerns
Investing.com -- An Italian administrative court has reduced a €1.13 billion ($1.32 billion) fine imposed on Amazon in 2021 by Italy’s competition authority, according to a ruling released Tuesday.
The Lazio administrative court upheld the main findings that Amazon had abused its dominant market position, but ordered the fine amount to be recalculated.
In its decision, the court stated that Italy’s competition watchdog had not provided adequate explanation for including a discretionary 50% increase in the original penalty calculation.
The fine was initially imposed on Amazon four years ago following allegations of market dominance abuse. While the court supported the fundamental conclusions of the regulator’s investigation, it determined that the financial penalty required adjustment based on the procedural issue regarding the unexplained additional percentage.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.