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Showing posts with the label Future reliance deal

How Jeff Bezos’ Amazon is fighting door to door to beat Mukesh Ambani

  The world’s largest retailer is permeating the complex tapestry of the only billion-people-plus market open to it If it wasn’t for last year’s extraordinary events, there would be nothing even remotely remarkable about Jayshri Hodkar’s struggle to survive as a single mother of two on the earnings of her tailoring shop, a single machine in one room of a rented house. It’s one of those tens of millions of tiny businesses you see everywhere in India. Most are so nondescript it’s hard to imagine that together they supply the wheels on which the $2.7 trillion economy runs. Their value only became clear when the wheels came off. This week last year, Prime Minister Narendra Modi announced a sudden, complete lockdown. And that’s when the Mahi tailoring center in Indore, a historic city of 3 million in central India, become important to one of the world’s richest men — 7,000 miles away in Seattle. With no customers coming to get blouses stitched, Hodkar came to a conclusion: Her shop coul...

Amazon appeals to Supreme Court in Future-Reliance deal dispute: Report

  A New Delhi court this week dealt a blow to the U.S. firm by revoking a previous court decision that effectively blocked the deal Amazon.com Inc has mounted a legal challenge against its partner Future Group’s $3.4 billion retail assets sale in India’s Supreme Court, three sources told Reuters on Thursday, marking the US firm’s latest effort to block the deal. Amazon, locked in legal disputes with Future, alleges the Indian firm violated contracts by agreeing to sell its retail assets to Reliance Industries last year. Future denies any wrongdoing. A New Delhi court this week dealt a blow to the US firm by revoking a previous court decision that effectively blocked the deal, and Amazon has filed an appeal against it in the Supreme Court in the capital city, the three sources said. Amazon and Future did not immediately respond to a request for comment.The legal fight over Future’s assets has embroiled two of the world’s richest men –  Amazon ‘s Jeff Bezos and Reliance’s Mukesh...