Amazon is considering diversifying its market share even further as emerging speculation suggests that the online giant plans to extend its pharmacy business to the UK.
Between 1992-2008, the fees Mastercard charged businesses for accepting payments from consumers in the UK (interchange fees) were too high. Consequently, UK consumers paid higher prices on purchases from businesses that accepted Mastercard. This breach of competition law could entitle 46.2m eligible Britons up to £300 each, making a potential mass consumer claim against the card provider worth just under £14bn.
The comparison website CompareTheMarket has been fined £17.9m for breaching competition law. It has done so by imposing wide “most favoured nation” clauses on insurers, preventing them from advertising cheaper rates elsewhere, and protecting its own site from being undercut by competitors.
Epic Games, the company behind Fortnite, has filed an antitrust probe against Apple for anti-competitive practices in California.
On 19 August 2020, American holiday rental marketplace Airbnb filed papers for its long-awaited Initial Public Offering (IPO). However, the decision to launch IPO proceedings comes as a surprise to analysts after Airbnb cut 25% of its workforce in May in light of the Covid-19 pandemic.