Page 29 - Amazon

Future Retail's stock surges 20% on CCI order for Amazon

Future Retail's scrip jumped to a high of Rs 57.50 as against the previous close of Rs 47.95 on the National Stock Exchange

Sensex sheds 1,190pts, Nifty ends near 16,600; financials, Tata Steel tank

The NSE index has now declined nearly 11 per cent from its all-time in the last two months; Midcap and Smallcap indices were down over 3 per cent each

Sellers welcome CCI's suspension of 2019 Amazon-Future deal

Indian Sellers Collective (ISC) on Monday welcomed the Competition Commission of India's (CCI) order to suspend its approval for Amazon's deal with the Future Group signed in 2019, while seeking speedy resolution of pending cases against the multinational e-commerce platform and related parties. ISC, which claims to be an umbrella body bringing together trade associations and representative bodies of Indian sellers across the country, said the CCI's reversal "validates the double standards being practiced by foreign retailers". It exposed "how Amazon has been operating with double standards posing as a transaction platform while acting as a retailer in reality with the intent to control the country's retail market, it urges regulators to expedite all other pending cases against the company and its related parties", ISC said in a statement. ISC Member & National Coordinator Abhay Raj Mishra said CCI's reversal of order "reposes the faith in regulators against malpractices". "The ..

Amazon to hold off warehouse phone ban 'until further notice'

The reversal follows the emergence of a more contagious strain of Covid-19 and after six workers died at a facility struck by a tornado last week

Amazon partnered with China propaganda arm to win Beijing's favour: Report

To sell Kindle and cloud services in China, Amazon promoted Xi's books as 'best sellers', allowed censoring reviews of propaganda films, provided dissident's IP address to authorities, reports Reuters

CCI suspends Amazon deal with Future, fines US giant Rs 200 crore

Says Amazon made false and incorrect statements while seeking approvals

CCI suspends Amazon's 2019 deal with Future, imposes Rs 202-cr penalty

CCI says Amazon provided 'false and incorrect information' and said it suppressed 'material facts' of 2019 Future deal; asks Amazon to again file detailed Form II within a period of 60 days

Amazon warehouse policies have put workers at risk, says Report

Workers at the facility said they received no emergency training and were discouraged from taking time off during natural disasters

Amazon crosses 10 lakh sellers milestone across India

The number of Amazon Easy stores is on track to the 1 lakh stores mark by end of 2021

Amazon crosses 1 mn sellers mark in India; 450,000 added since Jan 2020

Amazon India on Wednesday said it now has over 10 lakh sellers on its platform with more than 4.5 lakh new merchants joining the platform in the past two years. More than 90 per cent of the sellers on Amazon.in are local small and medium businesses (SMBs) and over half of these sellers on the marketplace come from tier-II and -III cities, according to a statement. Since January 2020, over 4.5 lakh new sellers have joined Amazon.in. Of these, over one lakh are local offline retailers and neighbourhood stores that have been onboarded on the Amazon marketplace through the Local Shops on Amazon programme, it added. "It is heartening to see the role Amazon is playing in enabling small local businesses across the country, including local offline retailers and neighbourhood stores from across India that are adopting e-commerce and placing their trust in Amazon to grow their business by selling online, participating in last-mile deliveries, joining assisted shopping and more," Amazon India

Revoking 2019 Future deal would boost Reliance: Amazon warns CCI

Amazon says sentiment will be hit if its 2019 deal with Future gets revoked by the anti-trust body and would send a negative signal to foreign investors

Amazon-backed More Retail considering IPO to raise up to $500 mn: Report

Witzig Advisory Services Pvt, owned by Amazon and Samara Capital Partners, acquired More Retail in 2019 from Kumar Mangalam Birla's Aditya Birla Group

Larry Ellison's fortune soars $12 billion as Oracle cloud sales jump

Ellison ranks ninth among the world's richest people with a $119.5 billion fortune, according to Bloomberg Billionaires Index

Jeff Bezos says 'heartbroken' over tornado deaths at Amazon warehouse

Amazon founder Jeff Bezos on Saturday expressed grief over the death of six people at an Amazon warehouse collapse in Edwardsville, Illinois, due to an ongoing wave of tornadoes in the US

Jeff Bezos' Blue Origin blasts third private crew into space

Jeff Bezos' rocket company, Blue Origin on Saturday morning (local time) blasted its third private crew into space.This flight marked the third of what Blue Origin hopes will be many space tourism launches, carrying wealthy customers to the edge of space, reported CNN.This is the first time that Blue Origin filled all six seats on its New Shepard rocket and capsule, which is named for Alan Shepard.On the company's two previous flights -- including the July flight that sent Bezos himself to space -- only four of the seats were taken up, reported CNN.The group blasted off aboard Blue Origin's suborbital space tourism rocket at 9:01 am CT from the company's launch facilities near the rural town of Van Horn, Texas and took a supersonic, 10-minute flight that reached more than 60 miles above the Earth's surface before parachuting to a landing.The crew consisted of Good Morning America host Michael Strahan, the daughter of famed astronaut Alan Shepard, and four paying customers on a ...

Dozens killed as tornadoes rip through Kentucky, other US states

Some of the worst destruction was in Mayfield, a small city of about 10,000 people in the far western part of Kentucky, where the state converges with Illinois, Missouri and Arkansas

Amazon says 'unexpected behaviour' caused huge cloud service outage

Amazon's cloud division last suffered a major incident in 2017, when an employee accidentally turned off more servers than intended during repairs of a billing system

Italy fines Amazon record $1.3 billion for abuse of market dominance

To impose corrective steps; penalty levied one of Europe's biggest ever

Italian watchdog fines Amazon $1.3 bn for abusing its market position

The antitrust watchdog called AGCM was particularly concerned with the benefits Amazon gives to sellers on its platform that also pay to use its FBA logistics service

Amazon-Future case: SC to hear Future Group's plea on Jan 11

The court again expressed displeasure on Wednesday over the written notes submitted by Future Group