RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
US-India Trade Bombshell: Tariffs Slashed to 18% — Rupee Soars, Sensex Explodes 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Thailand Inflation Remains Negative for 10th Straight Month in January 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Amazon will be paying up to $1,000 to customers who purchased what were said to be “dangerous” items on its site but were sold by third-party sellers. It was said that the e-commerce company is changing its return policies and will instead pay the customers for the products that caused injury or damage.
According to CNN Business, Amazon stated on Tuesday, Aug. 10, that it will first deal with customers’ complaints then will go after the third-party sellers that are not willing to compensate qualified claims of the buyers or if they are unresponsive to dissatisfaction claims. Jeff Bezos’ company announced that it will start implementing the changes on Sept. 1, and this is applicable to all the items sold on its Amazon e-commerce platform.
It was said that this new process will be saving both the sellers' and buyers' time, money, and effort. The new policy will change the process of returns where the customers directly contact the sellers if there are issues with their purchase. Now they have to contact Amazon’s customer service that will, in turn, notify the seller about the problem.
The company will address the customer’s complaint and pay compensation by itself if the seller doesn’t respond. Later, Amazon will separately go after the seller. In case the seller
Finally, if the seller doesn't respond, Amazon said it will "address the immediate customer concern, bear the cost ourselves, and separately pursue the seller." If the seller refuses to acknowledge the claim, the company may decide to pay the buyer up to $1,000.
“We are extending our A-to-z Guarantee to protect customers in the unlikely event a defective product sold through Amazon.com causes property damage or personal injury - regardless of who sells it,” the company wrote on a blog post. “Now, in the unlikely event a defective product sold through Amazon.com causes property damage or personal injury, Amazon will directly pay customers for claims under $1,000 which account for more than 80% of cases - at no cost to sellers, and may step in to pay claims for higher amounts if the seller is unresponsive or rejects a claim we believe to be valid.”
