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Amazon punished its own sellers to limit Walmart's reach, FTC says

Amazon.com Inc punished its own sellers to limit Walmart's reach as Walmart got into e-commerce, according to the Federal Trade Commission (FTC). In addition to making $1 billion by using a secret algorithm called "Project Nessie" to push up the prices that U.S. households pay, Amazon may have also succeeded in curbing Walmart's ambitions. In 2014, the arrival of Jet.com triggered fear at Amazon that Jet.com would be able to offer shoppers lower prices online, the FTC said on Thursday, kick-starting Amazon's strategy of removing sellers’ offers from the Buy Box if shoppers could find the same products at lower prices on Jet.com.
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