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Amazon CEO Jeff Bezos. Photo: Matt Winkelmeyer/Getty Images for WIRED25

Amazon will no longer tell third-party merchants that sell products on its platform in the United States that they cannot offer the same goods for a lower price on another website, according to a person with direct knowledge of the company's decision.

Why it matters: Critics have said the so-called "most favored nation," or "price parity," provisions could violate antitrust law. But even without them, the company still faces a broader set of attacks on its size and power in the United States and around the world.

Flashback: Sen. Richard Blumenthal (D-Conn.) in December asked the Department of Justice and the Federal Trade Commission to investigate the requirements for possible antitrust violations late last year.

  • Blumenthal said he was concerned that they could "stifle market competition and artificially inflate prices on consumer goods."
  • His request followed a May law review article that found that the most favored nation requirements "employed by online platforms can harm competition by keeping prices high and discouraging entry" in many cases.
  • Amazon dropped the requirement for merchants on its platform in Europe under regulatory pressure in 2013.

What they're saying: "Amazon’s wise and welcome decision comes only after aggressive advocacy and attention that compelled Amazon to abandon its abusive contract clause," Blumenthal said, while issuing a wider call for antitrust investigations into large tech companies.

  • Amazon declined to comment on the change.

The big picture: Amazon has become a symbol for progressives of the ill effects of corporate power in an age of increasing consolidation. Last week, 2020 presidential candidate Sen. Elizabeth Warren (D-Mass.) said Congress should pass a law banning large companies from operating and owning participants on the same online platform.

  • That proposal would make it impossible for Amazon to sell its house brand products, like the popular AmazonBasics batteries, that critics say hurt other brands that sell on its platform.

Go deeper

Kendall Baker, author of Sports
2 hours ago - Sports

European soccer is at war

Liverpool celebrating its 2019 Champions League victory. Photo: Nigel Roddis/Getty Images

Europe's biggest soccer clubs have established The Super League, a new midweek tournament that would compete with — and threaten the very existence of — the Champions League.

Why it matters: This new league, set to start in 2023, "would bring about the most significant restructuring of elite European soccer since the 1950s, and could herald the largest transfer of wealth to a small set of teams in modern sports history," writes NYT's Tariq Panja.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

2021's expected earnings blowout begins

JPMorgan CEO Jamie Dimon. Photo: Mark Kauzlarich/Bloomberg via Getty Images

First-quarter earnings so far have been very strong, outpacing even the rosy expectations from Wall Street and that's a trend that's expected to continue for all of 2021. S&P 500 companies are on pace for one of the best quarters of positive earnings surprises on record, according to FactSet.

Why it matters: The results show that not only has the earnings recession ended for U.S. companies, but firms are performing better than expected and the economy may be justifying all the hype.

2 hours ago - Science

NASA's Mars helicopter takes flight as first aircraft piloted on another planet

Ingenuity on the surface of Mars, filmed by NASA's Perseverance rover. Photo: NASA Jet Propulsion Laboratory

NASA successfully piloted the Ingenuity Mars helicopter for its first experimental flight on Monday, briefly hovering the aircraft as NASA's Perseverance rover collected data.

Why it matters: Ingenuity's short flight marks the first time a human-built aircraft has flown on a world other than Earth, opening the door to new means of exploring planets far from our own.