Tag: Amazon

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 […]

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 […]

CAIT urges DPIIT to penalise Amazon, Flipkart for alleged violations

NEW DELHI: The Confederation of All India Traders (CAIT) has written to the Department for Promotion of Industry and Internal Trade (DPIIT) to take action against e-commerce major Amazon and Flipkart for alleged violation of FDI and FEMA norms. In a letter to the DPIIT Secretary, Guruprasad Mohapatra, the traders’ body said: “Our association has […]

Amazon fires several employees in Prime Air drone project: Report

SAN FRANCISCO: E-commerce behemoth Amazon has fired several employees who were part of its Prime Air drone delivery project, Financial Times reported on Thursday. According to the report, the company has laid off “dozens” of employees working on the firm’s drone project while also seeking out manufacturing deals with third party vendors. The company is […]

Amazon asks Sebi, bourses to note arbitration ruling on Future-RIL deal

NEW DELHI: E-commerce giant Amazon has written to markets regulator Sebi and stock exchanges, urging them to take into consideration the Singapore arbitrator’s interim judgement that has put on hold the Rs 24,713-crore deal between Future group and Mukesh Ambani’s Reliance Industries Ltd while reviewing the proposed transaction, according to sources. The sources said that […]

Confidentiality clause latest flashpoint in Amazon-Future Group dispute

NEW DELHI:A confidentiality clause in the agreement between Amazon and Future Group may be the latest flashpoint in the ongoing dispute. As per the agreement between Amazon and Kishore Biyani’s Future Group companies, there is a confidentiality clause which says, “No party or person involved in any way in the creation, coordination or operation of […]

Amid battle with Amazon, Future Retail sees liquidation if RIL deal fails

NEW DELHI: As a Singapore arbitration court has temporarily halted the acquisition process of Future Group’s retail business by Reliance Retail, there has been speculation over what happens to Future Retail if the deal does not actually go through. Future Retail’s representative told the arbitration panel that if the deal with Reliance Retail fails, then […]

Deal with RIL in line with Indian laws, not party to agreement with Amazon: Future

NEW DELHI: After a Singapore arbitration court ordered a temporary stay on Reliance Retail’s acquisition of the debt laden Future Group’s retail business, the latter has said that the deal with Reliance Retail is in consonance with Indian laws. It further said that it is not a party to the agreement under which Amazon has […]

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