Amazon.com Inc was sued by the attorney general for Washington DC, who accused the online retail giant of engaging in anticompetitive practices that have raised prices for consumers. Amazon shares fell 0.8pc to a session low on the news and were little changed at 1:11 pm in New York. “The DC attorney general has it exactly backwards – sellers set their own prices for the products they offer in our store,” a company spokesman said in an email. A House investigation accused the two companies along with Amazon and Apple Inc of abusing their dominance in digital markets. Mr Racine filed the Amazon case on his own, rather than teaming with other states, which is a common practice for attorneys general.

Source: Irish Independent May 25, 2021 21:11 UTC