In the U.S., the spotlight is on Amazon, and for good reason. The company's recent acquisition of Whole Foods Market, it's potential foray into the pharmaceuticals business and its omnipresent share of e-commerce sales during the holiday season are generating positive headlines. When you add the company's nationwide search for its second headquarters, the media coverage only gets more intense.
But in Europe, it's a bit different.
To start, we'll skip across the pond to Great Britain. Amazon's promise of next-day deliveries in the UK could be investigated amid customer complaints that it is failing to meet that pledge. The UK Advertising Standards Authority is considering a formal inquiry into Amazon's Prime service, reported BBC (Dec. 18).
Next, when we jump across the English Channel, we see some developing news in France. The French economy minister filed a lawsuit against Amazon for allegedly imposing unfair commercial relationships to suppliers in the country, and is seeking a fine of $11.8 million. Investigators claim Amazon imposed a series of abusive clauses to its commercial partners in France, including the possibility to change or terminate contracts unilaterally, reported CBS News (Dec. 18).
Meanwhile, a bit further east in Europe: Amazon will pay $118 million to end a tax dispute in Italy. Loopholes allowed Amazon to pay less in taxes between 2011 and 2015, according to Italian investigators. Amazon confirmed the agreement without disclosing the amount it would pay, reported Yakima Herald-Republic (Dec. 15).
Although Amazon ended its legal worries in Italy with the settlement, the company still needs to resolve the issues it is facing in France and the UK. As always, stick with the Food Institute for the most recent developments.
In The Food Institute's recent webinar "Achieving a self-sustaining business model: Top 3 trends companies need to think about post-COVID-19," Greg Wank, CPA, CGMA, partner and leader of Anchin's food and beverage group, as well as David Eben founder and CEO of Carrington Farms, discussed how...read more
Chris is a business writer and market analyst that focuses on the Markets, Legal and Washington sections of the Food Institute Report. In addition, he assists in compiling data for various Food Institute publications throughout the year. He invites you to contact him via email at firstname.lastname@example.org to talk about anything food-related.
There are no comments, yet. Why don't you add one?
10 Mountainview Road
Upper Saddle River, NJ 07458
Food Institute reps are available to answer your questions
BECOME A MEMBER
For close to 90 years, The Food Institute has been the best "single source" for food industry executives, delivering actionable information daily via email updates, weekly through The Food Institute Report and via a comprehensive web research library. Our information gathering method is not just a "keyword search."