All 29 billion coins in circulation in the UK have the Queen's head on them
Amazon is seeking an Indian antitrust watchdog's approval to buy Catamaran Ventures’ stake in Prione, which operates one of the largest sellers on the e-commerce platform, months after the two firms said they won’t renew their joint venture after May next year.
The announcement comes as a surprise as Catamaran owns a 76% stake in Prione. Amazon earlier held a 49% stake in the company, but diluted it down to 24% to comply with the local laws that prohibit e-commerce firms from having a direct or indirect ownership in businesses that sell on their marketplaces.
In a joint statement Wednesday, the two firms said they are complying with the applicable laws “including all assets and liabilities” to close the deal and have sought the regulatory approval. Amazon has reached out to the Indian watchdog Competition Commission of India for the approval, a person familiar with the matter said.
Billionaire N.R. Narayana Murthy’s Catamaran and Amazon launched the joint venture in the country in 2014. The joint venture restructured its ownership in 2019 following India’s regulatory changes. In August this year, the two said they were ending the relationship.
Who owns Cloudtail? Was it used to sidestep Indian laws. media rarely investigated. What makes us think that the same people are not at it even now?
— IQ wala Anand Lunia (@anandlunia) August 9, 2021
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That announcement came after news agency Reuters reported, citing Amazon documents, that the American e-commerce firm had given preferential treatment for years to a small group of sellers, including Cloudtail, and had used them to bypass Indian laws. The Competition Commission of India, separately, ordered an investigation into Amazon and Flipkart last year for allegedly promoting select sellers (those in which they own a stake) on their e-commerce platforms and using business practices that stifle competition. The two firms made an unsuccessful attempt to dismiss the investigation.
“The businesses of the joint venture shall continue under the leadership of the current management and on receipt of regulatory approvals, the board of Prione and Cloudtail will take steps to complete the transaction in compliance with applicable laws,” the joint statement from Amazon and Catamaran said today.
Cloudtail is one of the largest sellers on Amazon in India. It has enabled more than 300,000 sellers and entrepreneurs to go online and has provided 4 million merchants with digital payment capabilities, the two firms said earlier this year.
Long-standing laws in India have restricted Amazon and other e-commerce firms from holding inventory or selling items directly to consumers. To bypass this, firms have operated through a maze of joint ventures with local companies that operate as inventory-holding firms.
India got around to fixing this loophole in late 2018 in a move that was widely seen as the biggest blowback to the American firm in the country at the time. Amazon and Walmart-owned Flipkart scrambled to delist hundreds of thousands of items from their stores and made their investments in affiliated firms way more indirect.
In June this year, India proposed even tougher e-commerce rules that, among other things, prohibit Amazon, Flipkart and other e-commerce players from running their in-house / private labels. The new proposal asks e-commerce firms to ensure that none of their related and associated parties are listed on their platforms as sellers for selling to customers directly. (New Delhi has yet to follow up on the new rules.)
Amazon has stakes in a few more third-party sellers, including Appario Retail, which is its joint venture with Patni Group.
Bosses at EY have agreed to push ahead with a split of its audit and consulting arms in the biggest shake-up of a Big Four accounting giant in decades.
Trondheim, 8 September 2022: Petors AS, a company owned by CEO and primary insider of NORBIT ASA, Per Jørgen Weisethaunet, has on 8 September 2022 purchased 10,000 shares in NORBIT at an average price of NOK 26.50 per share. Following the transaction, Petors AS owns 6,995,051 shares in NORBIT. In addition, related parties of Weisethaunet own 7,893 shares, so that the total number of shares controlled by Weisethaunet and related parties amounts 7,002,944 shares, representing 11.89 per cent of the
Under the watchful eye of an instructor, Munira al-Rubaian spreads fresh bed linen in a mock hotel room in the Saudi capital, aiming to land a job in the desert kingdom's growing tourism sector.
A DAO is a new type of organisation that utilises blockchain technology and promises to radically change the way we work.On this week's episode of The Crypto Mile our host Brian McGleenon sat down with the co-founder of SyndicateDAO Will Papper to find out more about this new concept that is attempting to turn the traditional corporation on its head. The web3 term DAO is short for decentralised autonomous organisation. For those not seasoned in crypto-jargon, decentralisation describes how power, data and decisions are spread across many individuals or nodes on the blockchain, making a more democratic system that has no single point of failure. The word autonomous describes the process of using the blockchain to automate everything from payment transactions, to legal contracts and to execute decisions within organisations.
Summary This databook uses data from Apparel database showing the trends in the market and sectors by value and volume. It also reveals the brand leaders by market share in 2020 in each of the sectors as well as total apparel.New York, Sept. 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Childrenswear Market Size and Trend Analysis by Category (Girlswear, Boyswear, Babywear), Product Subsegment, Price Positioning, Retail Channel, Region, Consumer Attitudes, Ke
Historic London department store Liberty was among the first to confirm it will not open on Friday.
Asos said it is witnessing ‘the impact of accelerating inflationary pressures on consumers and a slow start to Autumn/Winter shopping’.
P4479D -- Sep 8 2022 -- Hybrid imaging sensor for in-car monitoring_IMAGE ST's hybrid image sensor for in-car monitoring STMicroelectronics sets the scene for advanced in-car safety and comfort with new hybrid sensor for full interior monitoring Hybrid rolling and global-shutter image sensor extends basic driver monitoring to enable more adaptive and convenient vehicles for all occupantsDriver monitoring market is growing at more than 10% per year Geneva, September 8, 2022 – As leading automotiv
Global Outlook, Strength & Weaknesses, Russia-Ukraine War Impact, Historical Events PLUS Leading Nations (U. S. , Canada, Australia, Russia, South Korea, France, Argentina, Brazil, South Africa, Japan, Iran, Israel, China, India, North Korea, Egypt), Future Outlook AND Analysis of Leading Companies.New York, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Missile Technology Control Regime (MTCR) Market Report 2022-2032" - https://www.reportlinker.com/p063
Ranil Jayawardena told the Commons he met with water company executives on his first day in office over the ‘unacceptable’ situation.
Major players in the in-flight catering services market are Gate Gourmet, LSG Group, Servair S. A. , SATS Ltd, Journey Group Plc, ANA Catering Service Co. Ltd, Emirates Flight Catering, Flying Food Group, Newrest Group Services SAS, AAS Catering, Egypt Air In-Flight Services, KLM Catering Services Schiphol, Air Fayre, and Abby’s Catering.New York, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "In-Flight Catering Services Global Market Report 2022" - http
Forecasts by Volume (Utilised Volume, Unutilised Volume), by By-Product Type (Fly Ash, Flue Gas Desulfurization Material, Bottom Ash, Boiler Slag, Other), by Application (Ponds/Landfills, Concrete/Cement Products, Land Reclamation, Wallboard, Road Construction, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern AnalysisNew York, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report
Global Polycarbonate Diols Market Global Polycarbonate Diols Market Dublin, Sept. 09, 2022 (GLOBE NEWSWIRE) -- The "Polycarbonate Diols Market by Form (Solid, Liquid), Molecular Weight (g/mol) (<1,000, 1,000 - Below 2,000, 2,000 & Above), Application (Synthetic Leather, Paints & Coatings, Adhesives & Sealants, Elastomers) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering. The global polycarbonate diols market is projected to grow from USD 249 Millio
Queen Elizabeth II, who died on Thursday after 70 years on the throne, leaves behind a complicated portfolio of assets that contributes to her family's wealth and earnings.
Global Building Thermal Insulation Market Global Building Thermal Insulation Market Dublin, Sept. 09, 2022 (GLOBE NEWSWIRE) -- The "Global Building Thermal Insulation Market by Material (Glasswool, Stonewool, Plastic Foam), Application (Roof Insulation, Floor Insulation, Wall Insulation), Building Type (Residential, Non-Residential) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering. The global building thermal insulation market will grow to USD 35.3 billio
HAMILTON, BERMUDA, September 8, 2022 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today announces a new dividend policy with 100% of net income being returned to shareholders in the form of quarterly cash dividends. The new policy will be implemented from the third quarter of 2022. Svein Moxnes Harfjeld, President & CEO, stated: “The key considerations behind the new policy are the strength of our balance sheet and liquidity position in combination with no current plans for significa
The Night Time Industries Association Scotland is calling for urgent action from the UK and Scottish governments.
Slovakia's national gas importer SPP has signed a liquefied natural gas (LNG) supply deal with ExxonMobil, SPP said on Thursday, as Europe races to secure alternatives to Russian gas. SPP said the amount of gas in storage and its diversified supplies were grounds for optimism its customers would not face disruptions this winter, but added it was vital for the European market and cross-border connections to remain functional. "A contract with a strategic partner that ExxonMobil is opens new opportunities in access to natural gas and LNG," SPP said in a statement, without giving the volumes or price of the deal.
SKKY Partners venture with Carlyle veteran Jay Sammons will focus on consumer items, media and luxury
Major players in the solar tracker market are NEXTracker Inc, Array Technologies Inc, PVHardware, Arctech Solar, Soltec Trackers, Nclave Renewable, Convert Italia, STI Norland, Soluciones Tecnicas Integrales Norland SL, Nextracker Inc (Flex Ltd), Scorpius Trackers, Gonvarri Steel Services, GameChange Solar, Solar Steel, and Abengoa Solar.New York, Sept. 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Solar Tracker Global Market Report 2022" - https://www.report