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2/9, 12:45 PM (Source: TeleTrader)
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Amazon designated as grocery retailer in UK

United Kingdom's Competition and Markets Authority (CMA) announced on Wednesday that it designated Amazon.com Inc. as a grocery retailer, meaning that the American company and its British subsidiaries must comply with UK regulations in the groceries sector.

The Groceries Supply Code of Practice, "which applies to retailers with an annual turnover of more than £1 billion from grocery sales, ensures that they treat their suppliers fairly," the CMA explained in a statement.

CMA high-ranking official Adam Land additionally specified that "the thousands of companies supplying Amazon with groceries are now protected from potential unfair business practices."

Baha Breaking News (BBN) / MS