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The Australian Competition and Consumer Commission filed suit against Amazon on Monday, alleging five contract terms allowed unilateral changes to Prime subscriptions. The action claims more than one million Australian customers signed agreements containing those terms before ads were added to Prime Video in July 2024.
The action claims more than one million Australian customers signed agreements containing those terms before ads were added to Prime Video in July 2024. The regulator said the company introduced advertisements to Prime Video in July 2024 and then required customers who had already paid the annual $79 subscription fee to pay an additional $2.99 per month to keep the service ad-free.
The commission stated that consumers who wanted to avoid ads had no choice but to pay more to maintain the service they had initially signed up for. The lawsuit seeks court orders addressing the five contract terms the regulator described as unfair. The case is scheduled to proceed in Australian federal court.
These outlets didn't split into competing frames — coverage was uniform.
Comcast announced Monday it will separate into two publicly traded companies through a tax-free spin-off of NBCUniversal and Sky. The Philadelphia-based parent will focus on broadband services while shareholders receive stakes in both resulting entities. The transaction is expect…
themandarin.com.auStrategy approved a Digital Credit Capital Framework on June 29 authorizing up to $1 billion each in preferred securities and Class A common stock repurchases. The company also raised its preferred stock dividend rate to 12 percent effective July 1.
americanbanker.comFundBank Group has rebranded as IRACE Digital and acquired Cayman Islands-based Tenet Bank. Former Zodia Custody CEO John Cronin was appointed global CEO as the firm expands into digital asset custody and related services.