Amazon India customer base sees 2-fold jump during festival season sale
NEW DELHI: E-commerce firm Amazon India on Saturday said it has recorded a two-fold jump in its customer base from tier 2 and 3 cities during the first 36 hours of its festive season sale. Tier 2 and 3 cities accounted for 75 per cent of the total customer base of the e-commerce major during […]
After Amazon, Apollo Global wades into India’s corporate governance jungle
NEW DELHI: After Amazon.com Inc., it’s the turn of Apollo Global Management Inc. to wade into the jungle that’s corporate governance in India. It has sued a Mumbai-based warehousing firm in which it owns a large stake. The cause of the dispute vanished on Monday when the company dropped a controversial plan to sell its […]
Supreme Court of India reserves verdict on pleas of Future group firms
NEW DELHI: The Supreme Court of India on Tuesday reserved verdict on a batch of pleas filed by Future group firms against a Delhi High Court order declining stay on an arbitration tribunal decision refusing to interfere with the Emergency Award (EA) of the Singapore International Arbitration Centre (SIAC). We reserve the order. All the […]
Amazon writes to Future; confirms Samara Capital ready to invest Rs 7,000 crore
NEW DELHI: Amazon has written to independent directors of Future Retail Ltd (FRL), confirming that Samara Capital “remains interested and committed” to invest Rs 7,000 crore for buying all retail assets of the debt-ridden company and asked the retail firm to furnish existing due diligence reports to Samara by Sunday, according to sources. On January […]
Supreme Court refuses to entertain pleas of Amazon, Flipkart against CCI probe
NEW DELHI: The Supreme Court Monday refused to entertain pleas of e-commerce firms, Amazon and Flipkart, challenging an order permitting the Competition Commission of India (CCI) to carry out a preliminary investigation into the alleged violation of the competition law. A three-judge bench headed by Chief Justice N V Ramana said that challenging the enquiry […]
Supreme Court reserves verdict on Amazon’s pleas against Future-Reliance deal
NEW DELHI: The Supreme Court Thursday reserved verdict on the pleas of e-commerce giant Amazon against the Rs 24,713 crore deal for merger of Future Retail Ltd (FRL) with Reliance Retail. Amazon.com NV Investment Holdings LLC and FRL are embroiled in a bitter legal fight over the deal and the US-based firm has sought in […]
CCI accuses Amazon of concealing facts in deal for Future Group unit
By Aditya Kalra NEW DELHI: India’s antitrust regulator has accused Amazon.com Inc of concealing facts and making false submissions when it sought approval for a 2019 investment in a Future Group unit, a letter to the U.S. e-commerce giant seen by Reuters showed. The letter complicates Amazon’s bitter legal battle with Future Group over the […]
Amazon to buy MGM Studios for $8.45 billion
By JOSEPH PISANI NEW YORK: Online shopping giant Amazon is buying MGM, the movie and TV studio behind James Bond, “Legally Blonde” and “Shark Tank,” with the hopes of filling its video streaming service with more stuff to watch. Amazon is paying $8.45 billion for MGM, making it the company’s second-largest acquisition after it bought […]
Amazon moves Supreme Court against Delhi High Court stay order restraining Future-Reliance deal
NEW DELHI: Future Retail on Wednesday said Amazon has approached Supreme Court against a Delhi High Court order which stayed a single judge’s order restraining Future Retail Ltd from going ahead with its Rs 24,713 crore deal with Reliance Retail to sell its business. “The company’s advocates are in receipt of communication dated April 13, […]
Reliance Retail extends deadline to complete Rs 24,713 crore deal with Future Group
NEW DELHI: Reliance Retail Ventures, the retail arm of Reliance Industries, has extended the timeline for six months to complete its Rs 24,713 crore deal with Kishore Biyani-led future group to buy its retail and wholesale business. Reliance Retail Ventures Ltd (RRVL) has extended the timeline for the “Long Stop Date” from March 31, 2021 […]
Amazon moves Supreme Court in Future-Reliance deal dispute
NEW DELHI: E-commerce major Amazon has moved the Supreme Court in a bid to block Future group’s Rs 24,713-crore deal with Reliance, according to sources. The development comes after a recent Delhi High Court’s ruling that stayed a previous order on status quo of the deal and ruling that statutory authorities cannot be restrained from […]
Parler goes offline after Google, Apple and Amazon ban over US Capitol siege
NEW DELHI: Apple Inc and Amazon.com Inc have suspended Parler from their respective App Store and web hosting service, saying the social networking service popular with many right-leaning social media users has not taken adequate measures to prevent the spread of posts inciting violence. The action by Apple and Amazon follows a similar move by […]
We were fed up with your attitude, had to take RIL offer: Kishore Biyani to Amazon
NEW DELHI: Kishore Biyani, Future Coupons and Future Corporate Resources have said that totally disillusioned and fed up with Amazon’s lackadaisical attitude, they were left with no option but to accept the offer from Reliance Industries Limited (RIL). This communication to Amazon is a response to their notices and addressed on behalf of Future Corporate […]
Future, Amazon continue fight; write to Sebi over Future-Reliance deal
NEW DELHI:Continuing their letter fight, Amazon and Future Group have written to market regulator SEBI with contrasting requests over a Rs 24,713 crore buyout of assets of India’s second-largest retailer. Future Group has requested SEBI to expedite the review of the proposed deal and issue a no-objection certificate, while Amazon has urged that the review […]
Punish Amazon with Rs 1.44 lakh crore penalty: CAIT to ED
NEW DELHI:The Confederation of All India Traders (CAIT) has asked the Enforcement Directorate to immediately punish Amazon for the brazen violations of FEMA Act, Rules and Regulations by imposing maximum penalty of 3 times the value of the illegal investments of Rs 48,500 crore – a penalty of Rs 1.44 lakh crore. In a letter […]
Satya Nadella takes a dig at Amazon as Microsoft unveils Azure Purview
SAN FRANCISCO: Taking an apparent dig at Amazon and its Cloud arm AWS, Microsoft CEO Satya Nadella has said that it is important to not only trust a vendors technology capabilities but also its ‘business model alignment with its customers. “No customer wants to be dependent on a provider that sells them technology on one […]