Illustration: Rahul Awasthi The Karnataka High Court on Friday stayed the Competition Commission of India’s (CCI) investigation into allegations of anti competitive behaviour by Amazon and its chief rival Flipkart for a period of eight weeks. The interim order comes as a relief to both firms that had come under the competition watchdog’s scrutiny for […]
Facebook’s Zuckerberg wants ‘new framework’ for digital tax
Facebook founder and CEO Mark Zuckerberg on Friday backed moves by the OECD group of free-market economies to reform the way online giants are taxed worldwide, even if that means companies like his own paying more to national governments. “We also want tax reform and I’m glad the OECD is looking at this,” Zuckerberg says […]
Amazon’s claim unfounded, CCI tells Karnataka HC
Illustration: Rahul Awasthi The Competition Commission of India on Thursday told the Karnataka High Court that Amazon’s claim of the commission not having followed the due process in gathering evidence before ordering a probe into the company and its chief rival Flipkart was unfounded. Senior counsel Harish Narsappa, who argued for the CCI, told the […]
What new investors should focus on
We built Liftoff for newer investors who want to get started with us for small dollar amounts and build their first financial plan. Betterment is our partner on Liftoff and it works great. I have an account on there of my own. The more I think about the topic of early investing, the more I […]
Android co-founder Andy Rubin’s startup shuts down
Essential Products, a consumer electronics startup founded by the former Google executive Andy Rubin, said on Wednesday that it was ceasing operations. Once considered one of Silicon Valley’s most promising hardware technology startups, Essential had raised $330 million in outside funding because of the track record of Rubin, who is widely credited with creating Google’s […]
Doesn’t look, feel, smell right when etailer makes Rs 6K cr loss on Rs 5K turnover: Piyush Goyal
Commerce and Industry Minister Piyush Goyal on Thursday asked e-commerce players to strictly adhere to FDI norms, saying it “certainly does not look and feel and smell right” when a company makes a loss of Rs 6,000 crore on a turnover of Rs 5,000 crore. Goyal, who had earlier remarked that e-commerce giant Amazon was […]
400M social media users are set to lose their anonymity in India
By Saritha RaiFacebook, YouTube, Twitter and TikTok will have to reveal users’ identities if Indian government agencies ask them to, according to the country’s controversial new rules for social media companies and messaging apps expected to be published later this month. The requirement comes as governments around the world are trying to hold social media […]
Now, FabHotels sees a flurry of hotel checkouts
A story eerily similar to Oyo and its hoteliers seems to be playing out at FabHotels, with hotel owners and industry associations accusing the Gurgaon-based hotel aggregator of arbitrary termination of contracts, non-payment of dues and stoppage of minimum guarantee amounts. FabHotels has denied these allegations even as some hotel owners have filed cases against […]
Payment firms seek action against lax lenders, telcos
Illustration: Rahul Awasthi Top payment companies owned by global giants Google, Alibaba and Walmart are seeking regulatory and government intervention against alleged inefficiency at some banks and telcos in helping curb customer frauds. These are UPI based frauds where customer accounts are compromised after the victims are socially manipulated either through a targeted phone call […]
As coronavirus stifles China, economic logjams build worldwide
By Matt Phillips In Australia, after hauling hundreds of thousands of tons of iron ore to China, returning freighters can face a 14-day quarantine before being able to reload. BHP, which has headquarters in London and Melbourne and is one of the world’s largest copper mining companies, has been in talks to possibly delay shipments […]