Business Briefs – January 24, 2017

Tuesday, January 24, 2017 7:53 pm | 2 Minute Read

Amazon Moves to Avoid EU Fines Over Publishing Contracts

BRUSSELS (AP) — Amazon has agreed to change parts of its e-book contracts with publishers in an effort to avoid European Union fines for anti-competitive behavior.

The European Commission said Tuesday that the online giant has committed not to enforce any contract clause that might force publishers to offer Amazon similar terms and conditions as those offered to competitors.

Publishers can also terminate e-book contracts that contain a certain clause linking discount possibilities for an e-book to the retail price of it on another platform.

The commitment would apply for five years to agreements reached in Europe.

Push to Save Pacific Rim Trade Deal After U.S. Exits TPP Pact

SYDNEY (AP) — U.S. President Donald Trump’s decision to pull out of the Trans-Pacific Partnership, as promised, is prompting other member countries to seek ways to salvage the trade pact.

Leaders of some of the 11 other nations involved in the initiative said they hope to push ahead with the agreement in some form, with or without the U.S.

Australian Prime Minister Malcolm Turnbull said Tuesday he had discussed the pact’s future recently with the prime ministers of Japan, Singapore and New Zealand, all TPP members, and believed the pact could survive without the U.S.

Eurozone Economy Starts 2017 With Steady Growth

LONDON (AP) — A survey shows that the economy of the 19-country eurozone began 2017 with relatively strong growth.

The so-called purchasing managers’ index, a gauge of activity in the manufacturing and services sectors, edged down to 54.3 points in January from the previous month’s 54.4, which was the highest level since mid-2011.

The survey, published Tuesday by IHS Markit, showed exports doing well and employment enjoying its biggest monthly rise since February 2008. Prices were also shown to be on the rise, largely due to higher commodity prices.

This article appeared in print on page 36 of the January 25th, 2017 edition of Hamodia.