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Ukrainian President Zelensky: Calls on the United States to provide Ukraine with more air defense systems.Ukrainian President Zelensky: Russia cannot seize all of eastern Ukraine, and the eastern region cannot be used as a bargaining chip.On September 12th, ING analysts said in a report that the Canadian dollar should continue to underperform its G10 non-US currencies as the Bank of Canada appears to be resuming interest rate cuts. They said the Bank of Canada is likely to cut interest rates by 25 basis points on September 17th, and by 25 basis points in the fourth quarter, having kept interest rates unchanged at the previous three meetings. The market expects the bank to cut interest rates by about 40 basis points by the end of the year. "We expect USD/CAD to decline only very slowly, driven entirely by a weaker US dollar, as the Canadian dollar remains unattractive relative to most G10 currencies."On September 12th, Ukrainian President Volodymyr Zelenskyy posted on social media that Russian President Vladimir Putins goal is to occupy all of Ukraine. Regardless of his justifications, the facts are clear: he has set his war machine into full gear, and unless forced to radically change its objectives, it is powerless to stop. Russias war machine will only stop when its fuel runs out. This is why it is crucial to respond forcefully to every challenge. Russia must be confident that the United States, Europe, and the entire Western world will not allow Russia to provoke conflict. Real and powerful pressure must be applied to force Putins goal to shift from occupying Ukraine or other countries to preserving his own regime and economic system.On September 12th, TD Securities strategists said in a report that if the Federal Reserve cuts interest rates by 25 basis points next week but remains cautious about further cuts, the US dollar should rise. They said that as concerns about economic growth become paramount, the market is expecting consecutive rate cuts. However, the Fed may curb these expectations and emphasize potential inflation risks. "Powell could signal that the Fed is not on a predetermined path of rate cuts and will continue to monitor incoming data to assess risks." This would boost the US dollar. However, they said that the US dollar will still fall in the long run, and any rebound would be a good opportunity to sell.

Australian Regulator Says Amazon Refuses to Describe Search Algorithm Data

Aria Thomas

Apr 29, 2022 09:51

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Amazon.com Inc has refused to reveal its product-search technology to an Australian competition regulator who has received concerns about huge marketplace platforms favoring in-house items.


The company's refusal to disclose the information lays the stage for a possible reprise of Australia's 2021 showdown with Facebook Inc (NASDAQ:FB) and Alphabet Inc's Google, which ended in those companies paying content royalties to media organizations.


The Australian Competition and Consumer Commission (ACCC) made reference to Amazon's (NASDAQ:AMZN) attitude in a report released on Thursday as part of a five-year assessment of big-tech regulation that also included Facebook and Google.


According to the ACCC, it polled 80 online retailers and discovered that roughly half believed that large marketplace platforms slanted search and website presentation in favor of in-house products.


Amazon assured the regulator it did not provide its own items a competitive edge, but "the ACCC requested details about the inputs to Amazon's algorithms, which were not disclosed," the report stated.


As a result, "the ACCC is unaware of how Amazon's algorithms generate search results," the study stated.


Amazon Australia's head of public policy, Michael Cooley, stated in a statement that the company's offers are "those we believe customers will prefer, regardless of whether they come from Amazon or one of our seller partners."


"We immediately provide data to Seller Partners to assist them in managing their operations and provide critical insights," he added.


Amazon provided retailers with data analytics on their own sales, the amount of customers examining the things they offer, and their conversion rates, according to Cooley.


The ACCC report's questionnaire results contained several responses accusing Amazon of favoring its own products. According to one anonymous respondent, "Amazon products are always placed first, followed by second-hand things in small text at the bottom of the listing."


Unlike other significant online retail markets, such as those in the United States and the United Kingdom, the ACCC highlighted that Australia was not dominated by Amazon. The corporation began operations in the country in 2017, but did not begin operations until 2017.


The ACCC stated its revenues in the year to June 2021 were less than a fifth of eBay Inc's (NASDAQ:EBAY) A$5.3 billion ($3.8 billion) revenue.


Allowing huge platforms to give their own items preferential attention, however, the regulator stated, could affect purchasing decisions and harm competition. The platforms should be required to declare any activity that benefited their own products, the report stated.


"Hybrid marketplaces, like other vertically integrated digital platforms, present conflicts of interest and may act to benefit their own products, which could have unintended consequences," ACCC chair Gina Cass-Gottlieb said in a statement accompanying the findings.


"We are concerned about specific instances of self-preferencing by Australian hybrid marketplaces, which echo similar concerns voiced by foreign authorities."

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