Amazon overtakes Apple as world's most valuable brand despite losing $51bln
Jan 19, 2023, at 08:00 am
Washington: Amazon has reclaimed top spot as the world's most valuable brand despite losing $51 billion this year, or 15% of its value, according to the annual Brand Finance Global 500 ranking.
Amazon to layoff 18,000 employees amid weak online sales growth
Jan 19, 2023, at 07:48 am
Amazon.com, struggling with a dip in online sales growth and prepping up for a possible recession, is likely to trim its workforce further, media reports said.
Amazon plans to lay off 20,000 employees after over-hiring during pandemic: Report
Dec 08, 2022, at 04:52 am
Seattle/IBNS: E-commerce giant Amazon might lay off around 20,000 employees including corporate executives in the coming months, media reports said.
Amazon likely to layoff 20,000 staff in upcoming months: Reports
Dec 07, 2022, at 04:04 pm
E-commerce hub Amazon might lay off around 20,000 employees, including corporate executives, in the upcoming months, media reports said on Wednesday.
Amazon denies laying off employees, says all resignations voluntary
Nov 26, 2022, at 05:58 pm
Bengaluru/IBNS: Amazon has told India’s labour ministry that it did not sack any employee and all the workers left the company voluntarily as part of the Voluntary Separation Plan (VSP), media reports said.
Centre asked to probe Amazon layoffs
Nov 19, 2022, at 09:45 pm
Bengaluru: Nites has submitted a petition requesting the Central government and state labour authorities to conduct an inquiry regarding the unethical and illegal layoffs via email sent to employees by Amazon.
Amazon likely to lay off 1000 employees amid losses: Report
Nov 15, 2022, at 05:05 am
Seattle/IBNS: Amazon is likely to lay off thousands of employees and implement cost-cutting measures as the last few quarters haven't been profitable, media reports said.
Amazon becomes first ever public company to lose USD 1 trillion in market value
Nov 11, 2022, at 06:42 am
Seattle/IBNS: Amazon has become the world's first public firm to lose USD 1 trillion in market valuation on the backs of inflation, tightened monetary policy, and let down in earnings, causing a major sell-off in its stock this year, Bloomberg reported.
Amazon vs Future: SC to hear Amazon's plea on Oct 11
Sep 20, 2022, at 01:04 am
New Delhi: Supreme Court will hear the Amazon.com NV Investment Holding LLC (Amazon) plea challenging the June 13 NCLAT order, which upheld the anti-trust body CCI's ruling, on October 11.
Cloudatail denies controlling links with Amazon, opposes CCI raid
Aug 06, 2022, at 04:29 am
New Delhi: E-commerce seller Cloudtail India has challenged the CCI's April 28 raid on its premises, saying that Amazon has no controlling interest in it and the vendor cannot be linked to a case that was against the e-commerce platforms.
CCPA fines Amazon Rs 1 lakh for selling sub-standard pressure cookers
Aug 05, 2022, at 05:13 am
New Delhi: In a suo moto action, the Central Consumer Protection Authority (CCPA) has fined Amazon's e-commerce platform Rs 1 lakh for selling sub-standard pressure cookers in violation of mandatory standards.
NCLT allows insolvency proceedings against Future Retail
Jul 21, 2022, at 03:42 am
The Mumbai bench of the National Company Law Tribunal (NCLT) allowed a consortium of lenders, led by Bank of India, to initiate insolvency proceedings against debt-laden Future Retail, media reports said.
Amazon's CEO of worldwide consumer business quits after 23 yrs of service
Jun 04, 2022, at 06:30 pm
Amazon Friday said the chief executive officer of its worldwide consumer business, David Clark, is leaving the company after 23 years of service to pursue other opportunities.
Amazon Kindle to exit China despite phenomenal growth prospects
Jun 03, 2022, at 04:33 am
Amazon is going to withdraw its Kindle business, including its e-readers and e-bookstore, from China, the US-based e-commerce giant announced on its official Wechat account on Thursday, Reuters reported.
Amazon writes to independent directors of Future Retail, accuses them of 'fraudulent stratagem'
May 23, 2022, at 05:46 am
Amazon has written to the independent directors of Future Retail Ltd (FRL), accusing them of facilitating a "fraudulent stratagem" of transferring 835 stores to billionaire Mukesh Ambani's Reliance Retail.
May 16, 2022, at 12:36 am
Mumbai: E-commerce giant Amazon on Sunday said it has cumulatively created over 11.6 lakh direct and indirect jobs; enabled nearly $5 billion in exports and digitized over 40 lakh MSMEs in India.
Amazon doubles exports pledge, to now enable $20 billion in exports from India by 2025
May 04, 2022, at 10:36 pm
Kolkata/UNI: Amazon on Wednesday unveiled the Exports Digest 2022 and announced that cumulative exports by Indian exporters on the Amazon Global Selling program are on track to surpass the $5 billion milestone.
Lenders vote against Future Group's proposed deal with Reliance
Apr 23, 2022, at 04:21 pm
Future Group's plan to sell its retail and wholesale assets to Reliance Retail failed after the majority of the lenders of the flagship Future Retail Ltd (FRL) voted against such a takeover by Reliance, media reports said.
Mar 22, 2022, at 09:40 pm
New Delhi: A Supreme Court bench headed by Chief Justice N V Ramana Tuesday said that it would list for hearing the interim plea of e-commerce major Amazon seeking preservation of Future Retail Ltd's assets besides resumption of arbitration over the merger deal with Reliance Retail, media reports said.
NSE IFSC to start trading 8 premium US stocks from tomorrow
Mar 03, 2022, at 05:10 am
Indian investors will now be able to invest in shares of US-based companies like Amazon, Tesla, Alphabet, Meta Platforms, Microsoft, Netflix, Apple and Walmart, starting March 3.
Future Retail accuses Amazon of blocking its OTR scheme, asks US etailer to pay the lenders
Jan 23, 2022, at 06:55 am
Amazon's January 19 letter opposing the sale of small-format stores by Future Retail Limited (FRL) has elicited a terse response from the latter's independent directors, who asked the e-commerce giant to pay Rs 3,500 crore to FRL so that it can repay its lenders, media reports said.
CAIT files petition to block Amazon's bid to buy 100 pc stake in Cloudtail
Jan 15, 2022, at 02:09 am
New Delhi/UNI/IBNS: American e-commerce giant Amazon has landed in fesh trouble as Delhi-based Confederation of All India Traders (CAIT) on Friday has filed a petition before the Competition Commission of India (CCI) seeking to block Amazon's deal to acquire 100 per cent stake in Cloudtail.
Amazon files fresh law suits in dispute with Future group: Report
Jan 10, 2022, at 03:36 am
New Delhi/IBNS: Amazon has approached the courts challenging the recent decisions in its protracted legal dispute with Kishore Biyani-led Future Group after the Competition Commission of India suspended a 2019 deal between the two sides, leading to a halt in their arbitration, Reuters reported on Sunday citing sources.
Jan 06, 2022, at 05:29 am
Delhi/IBNS: The Delhi High Court on Wednesday told the Enforcement Directorate (ED) that it cannot force a top Amazon executive, who lives in Mumbai and is a mother of an unvaccinated two-year-old child, to be physically present to answer summons as part of its probe into the Amazon Future Group deal, media reports said.
Jolt for Future as Delhi HC dismisses plea seeking ending of arbitration proceedings with Amazon
Jan 05, 2022, at 02:47 am
New Delhi/IBNS: In a major setback to Future Group, the Delhi High Court has dismissed the pleas filed by Future Group of companies to terminate the arbitration proceedings with Amazon going on in Singapore International Arbitration Centre, media reports said.
Amazon seeks CCI's approval to acquire Catamaran's stake in Cloudtail
Dec 24, 2021, at 05:20 am
New Delhi/IBNS: Amazon has sought regulatory approval to acquire acquire Catamaran Venture’s entire stake in Prione Business Services, which owns Cloudtail, one of the largest sellers on the US-based ecommerce major’s Indian platform, Economic Times reported.
Amazon sues ED over investigation of its 2019 deal with Future Group
Dec 23, 2021, at 11:46 pm
New Delhi/IBNS: Amazon is set to sue the Enforcement Directorate (ED) over the agency's probe in its 2019 deal with Future Group.
Amazon buys Narayan Murthy's stake in its biggest seller Cloudtail
Dec 23, 2021, at 10:15 pm
Prione Business Services, the joint venture between Narayan Murthy-led Catamaran and Amazon, will be acquired by Amazon.
CCI cancels Amazon-Future deal
Dec 18, 2021, at 03:39 am
New Delhi/IBNS: Amazon suffered a setback Friday as the Competition Commission of India (CCI) suspended its deal with Future Group after reviewing complaints that US-based e-commerce giant concealed information while seeking regulatory approval, media reports said.
Indian Exporters on Amazon gear up for the Black Friday and Cyber Monday Sale
Nov 22, 2021, at 12:29 am
Kolkata/UNI: Amazon India Sunday announced that more than 70,000 Indian exporters which are part of its 'Global Selling Program' have geared up to present ‘Made in India’ products to Amazon's customers during the annual Black Friday and Cyber Monday (BFCM) sale.