The Supreme Court on Friday ruled in favour of e-commerce giant Amazon against the proposed ₹24,713-crore merger deal between Future Retail Limited (FRL)and Reliance Retail. A Bench of Justices Rohinton F. Nariman and B.R. Gavai upheld the validity and enforceability of a Singapore-based Emergency Arbitrator (EA) award, which restrained Future Retail Limited (FRL), India’s second … Read more
American private equity firm KKR on Thursday said that it has completed the acquisition of a majority stake in Darshan Patel promoted Vini Cosmetics, a leading branded personal care and beauty products company in India, On 22 June, KKR had announced that it was buying a controlling stake in Vini Cosmetics, the owner of the … Read more
Instacart’s ad business generated hundreds of millions in sales last year. It’s led by an exec who grew Amazon’s ad operation into a Google and Facebook competitor. Some advertisers say Instacart doesn’t share enough strong data to make it worth larger investments. See more stories on Insider’s business page. Instacart is building an advertising business … Read more
For Reliance Industries’ Chairman, Mukesh Ambani future belongs to organizations that will lead and leverage the digital revolution. In his address to shareholders in the company’s annual report released on Wednesday, Ambani said, “As technology becomes a driving force in all businesses and facets of life, the future belongs to organizations that can lead and … Read more
Jeff Bezos sold $1.7 billion of Amazon.com Inc. stock, bringing the amount he’s unloaded this month to about $6.7 billion. Bezos sold 521,936 shares under a pre-arranged trading plan, according to U.S. Securities and Exchange Commission filings. That brings the total sold in three batches in May to 2 million shares. He said in … Read more
Subway plans to hire 40,000 workers in May, but that may not be easy. Subway closed 1500 stores in 2020 and franchisees say returning to normal hours is difficult due to a lack of workers. Other restaurant chains are holding hiring events, adding extra perks, and, in some cases, raising wages to find staff. See … Read more
Zomato said revenue from operations rose from ₹466 crore in FY18 to ₹2,604 crore in FY20. Food delivery app Zomato Ltd., backed by China’s Ant Group, on Wednesday filed a draft red herring prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) to raise ₹8,250 crore. The IPO would comprise fresh issue of … Read more
At Walmart Inc., the robots are losing their jobs. The retailer is phasing out the hulking automated pickup towers that were erected in more than 1,500 stores to dispense online orders. The decision reflects a growing focus on curbside pickup services that have become more popular during the Covid-19 pandemic and continues a broader retreat … Read more
While Alibaba is the dominant force in e-commerce with a global reputation, Wang, a generation younger, has built Meituan into a fearsome rival, the world’s largest delivery empire with ambitions to encroach on Alibaba’s home turf. There’s also years of bad blood between the two companies after an early alliance broke down. Now Wang, 42, … Read more