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September 14th - According to the New York Times, two sources familiar with the matter revealed that the Trump administration plans to announce on Monday that the United States will no longer restrict emissions of global warming pollutants from coal-fired and gas-fired power plants during power generation. It is understood that Environmental Protection Agency Administrator Lee Zeldin is expected to announce this policy change during the G20 energy ministers meeting in Houston. The Trump administration has been trying to make the production and use of fossil fuels easier and cheaper, particularly hoping to utilize fossil fuel power generation to meet the growing electricity demand of artificial intelligence data centers.On September 14th, according to foreign media reports, Samsung Electronics and SK Hynix rejected a prepayment proposal from the Korea Electric Power Corporation (KEPCO) to fund the construction of a power grid supplying electricity to new technology clusters. Cash-strapped utilities across Asia are struggling to keep up with the growing demand from the semiconductor and artificial intelligence industries. KEPCOs proposal—estimated by local media to total 25 trillion won, equivalent to five years worth of electricity bills—was intended to circumvent this supply-demand mismatch. A KEPCO spokesperson stated via text message, "The two companies ultimately rejected KEPCOs proposal." Local media reports indicate that the two chipmakers are concerned about the uncertainty surrounding the sustainability of the current semiconductor boom over the next five years.Shipping data shows that the average daily number of commodity carriers passing through the Strait of Hormuz dropped to single digits over the weekend, below the 10-day average of about 14 ships.On September 14th, Futures News reported that a crucial meeting between Gulf states and Iran regarding the control of the Strait of Hormuz was postponed due to a failure to reach a consensus. This setback hindered regional efforts to ease tensions along this vital waterway and continues to severely test navigation in the Strait of Hormuz. Previously, the foreign ministers of the six Gulf Cooperation Council (GCC) countries planned to meet with Iranian Foreign Minister Araghchi in Salalah, Oman on September 14th, with Oman acting as mediator. The goal was to secure support for a temporary arrangement to manage merchant shipping in the Strait of Hormuz. Iranian Foreign Ministry spokesman Baghae stated that the meeting was an important step in promoting mutual trust and cooperation among regional countries and maintaining regional peace and stability. He emphasized that relevant matters should be negotiated independently by regional countries, rejecting destructive and divisive interference from external forces. He hoped the meeting would create conditions for deepening understanding among regional countries and contribute to regional security. Iran is committed to ensuring the safety of navigation in the Strait of Hormuz, but as long as the US continues its maritime blockade and economic war against Iran, the safety of navigation in the strait cannot be guaranteed. Iran and Oman had previously reached an understanding on a temporary navigation route in the Strait of Hormuz.US President Trump: The United States is working to supplement and expand weapons production to strengthen U.S. defense manufacturing capabilities.

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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