Amazon Seller Fees 💸, Elon Musk Appeal Denied 🚫, EU Approves M&A 🤝

Catch up on the latest in tech, business and startups - all in 5 minutes. [Newsletter Banner] Daily News Roundup Welcome to today's edition of the NextBigWhat Daily News! Today's headlines cover Amazon's seller fee increase, Elon Musk denied appeal, EU approves Microsoft-Activision merger, and more. 📰 Help us reach your your friends and colleagues! Share the NextBigWhat newsletter. [Tweet it]( [Whatsapp]( 🇮🇳 IndiaTech: Latest tech and startup news. Amazon India increases seller fees across categories to reduce costs - Amazon India is increasing seller fees across categories. - Ecommerce companies such as Amazon and Flipkart make money by charging commissions and fees from sellers for products sold on their platforms. - The rates of these fees change depending on market conditions. Amazon invests Rs 110 crore in men’s innerwear brand XYXX - XYXX has established a network of over 18,000 retailers in 150 cities and towns across India. - The brand reported sales of Rs 105 crore during FY22. - Sales are expected to more than double in the last fiscal. ZestMoney founders step down as Goldman Sachs-backed fintech faces difficulty in raising funds - The founders of ZestMoney have resigned from the startup. - ZestMoney was once backed by many high-profile investors, including Goldman Sachs. - ZestMoney had the ability to underwrite small ticket loans to first-time internet customers. - The founders of ZestMoney (Lizzie Chapman, Priya Sharma, and Ashish Anantharaman) informed employees about their resignation. - The startup is now facing difficulty in raising funds. Start-up Leaders Compete in IAMAI Elections - Harsh Jain of Dream 11, Rajesh Magow of Makemytrip, Sameer Nigam of PhonePe, Harshil Mathur of RazorPay, and Anupam Mittal of Shaadi.com are running in the IAMAI elections. Get NBW News: The short news app for busy professionals. [App Store]( [Google Play]( 🌎 GlobalTech: Trending global tech news. Elon Musk denied appeal to tweet freely about Tesla - Elon Musk has failed in his attempt to be able to tweet freely about Tesla without legal approval. - A federal appeals court in Manhattan has rejected his claim that the 2018 consent decree with the SEC is an unfair “prior restraint” on his speech. - Musk could have defended himself against the charges or negotiated a different deal if he’d wanted to tweet without a legal monitor. - The court panel says that this is the case. EU approves Microsoft Activision merger despite UK shutting it down - Microsoft’s $68.7 billion deal to receive a boost from EU regulators. - The European Commission approved the merger, as long as the companies meet certain conditions. - This is despite the UK shutting down the merger. Apple investigated for alleged deceptive marketing and programmed obsolescence - Apple is facing a new investigation from regulators in France for alleged product obsolescence. - The investigation started in December 2022 and is related to Apple’s practice of linking repair parts to iPhones, iPads, and Macs. - The news was reported by a French news outlet and confirmed by Reuters. Elon Musk Complies with Dictator’s Demand to Censor Twitter - The Turkish government requested Twitter to censor the opposition during the country’s election. - Elon Musk-run social media complied with the request. - Elon Musk gave in to the demands of a dictator without putting up much of a fight. - Recep Tayyip Erdogan is the current president of Turkey. 🤖 AI: Latest in AI and ML. Cathie Wood suggests ChatGPT could disrupt Apple as the iPhone maker surpasses Russell 2000 in market value - Cathie Wood believes ChatGPT could disrupt Apple. - Apple’s current market value is greater than the market value of all 1,917 stocks held in the Russell 2000 index. Ex-Google CEO suggests trusting AI industry to self-regulate - Eric Schmidt, former Google CEO, suggests trusting the AI industry to self-regulate. - He shared his techno-libertarian principles in an interview with NBC’s “Meet the Press”. - He believes that AI needs “guardrails” due to its potential to lie, confabulate, and go mad. © 2023 Zakti Techmedia Pvt. Ltd. All rights reserved. | [Unsubscribe](