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☆ India probe finds Amazon, Walmart's Flipkart breached antitrust laws
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: +1 min

An employee of Amazon India walks toward a security gate at the company's newly launched fulfillment center on the outskirts of Bangalore. An Indian antitrust investigation has found U.S. e-commerce giant Amazon and Walmart's Flipkart violated local competition laws by giving preference to select sellers on their shopping websites, according to reports seen by Reuters. The Competition Commission of India in 2020 ordered an investigation into Amazon and Flipkart for allegedly promoting certain sellers with which they had business arrangements and giving priority to certain listings. Amazon and Flipkart, as well as the CCI, did not immediately respond to Reuters' request for comment. The two companies will now review the report and file any objections before CCI staff decide on any potential fines.

Persons: Flipkart Organizations: Amazon, Reuters, The, of Locations: Amazon India, Bangalore, of India

NEW DELHI/BENGALURU, June 2 (Reuters) - The India and South Asia head of Amazon.com Inc's (AMZN.O) cloud division, Puneet Chandok, has resigned with effect from August 31, the company said on Friday. Chandok had taken the helm of Amazon Web Services in June 2019. Vaishali Kasture, currently head of enterprise for mid-market and global businesses at AWS India and South Asia, would take on the role of interim leader of commercial business for the unit, Amazon India said. The news came over two weeks after Amazon's cloud computing unit revealed plans to invest 1.06 trillion rupees ($12.87 billion) in India by 2030, doubling down on its past investments to cater to the growing demand for such services in Asia's No. The interim provides an opportunity for other cloud companies such as Azure and Google Cloud Platform, along with homegrown players, to make aggressive bids for accounts, said Akshara Bassi, an analyst at Counterpoint Research.

Persons: Inc's, Puneet Chandok, Chandok, Vaishali Kasture, Akshara Bassi, Munsif Vengattil, Aditya Kalra, Varun, Savio D'Souza, Dhanya Ann Thoppil, Sohini Organizations: NEW, Amazon Web Services, India, Amazon, Counterpoint Research, Varun Vyas, Thomson Locations: NEW DELHI, BENGALURU, India, South Asia, Amazon India, Asia's, New Delhi, Bengaluru

☆ Amazon remains a show-me stock but we're encouraged by some positive Wall Street commentary
▼ + stars: | 2022-11-15 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Amazon (AMZN) received several mentions Tuesday from Wall Street analysts covering a range of topics. While including commentary on Alphabet and Meta from the note as a point of reference, we're mostly focusing on Amazon. From a top-down view, Morgan Stanley maintained that Amazon remains "strategically positioned" to take market share in e-commerce and enterprise spend "through/post downturn." From a bottom-up view, the analysts acknowledged that Amazon, along with other large-cap tech names, is finally taking its medicine. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Meta's India public policy chief, WhatsApp's India boss quit
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, Nov 15 (Reuters) - WhatsApp's India head Abhijit Bose and Meta Platforms Inc's (META.O) public policy director in India Rajiv Aggarwal have resigned, a Meta spokesperson said on Tuesday. The departures follow the exit of Meta's India head Ajit Mohan, who quit this month after four years in the job to join rival Snap Inc (SNAP.N). A Meta spokesperson said both of the exits were unrelated to the current layoffs. Meta has appointed Shivnath Thukral as its new director for public policy in India and the company will look for a replacement for Bose, the spokesperson said. Couple of months back, the head of WhatsApp's India payment business, Manesh Mahatme, also quit to join Amazon India.

☆ Amazon says India's Appario to stop selling on platform
▼ + stars: | 2022-10-31 | by ( Aditya Kalra | ) www.reuters.com time to read: +2 min

NEW DELHI, Oct 31 (Reuters) - One of Amazon India's biggest sellers, Appario, will cease to list products on the shopping website, the U.S. firm said on Monday, after it faced years of allegations from brick-and-mortar retailers of giving preferential treatment to the seller. A Reuters investigation last year, based on Amazon documents, showed the U.S. company gave preferential treatment for years to a small group of sellers including Appario and another one named Cloudtail, and used them to bypass Indian laws. Amazon, which has maintained it does not give preferential treatment to any seller and complies with all laws, agreed to end its relationship with Cloudtail in August last year. Appario, a joint venture partnership between Amazon (AMZN.O) and India's Patni group, has listed products on Amazon India since 2017. The JV will continue but Appario will cease listing products on Amazon, the U.S. firm said in statement.

☆ WhatsApp Pay India head quits, joins Amazon -source
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.com RegisterBENGALURU, Sept 22 (Reuters) - The head of WhatsApp's India payment business, Manesh Mahatme, has quit and is joining Amazon India, a source told Reuters on Thursday. Mahatme has joined as director of product in the e-commerce division of Amazon in India, the source said. He joined WhatsApp Pay in April 2021 after serving as a director. Mahatme was also on the board of Amazon Pay India between 2014 and 2021, according to his LinkedIn profile. Register now for FREE unlimited access to Reuters.com RegisterReporting by Aditya Kalra in New Delhi; Writing by Anuran Sadhu; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

A day trader in her 20s will have much different view of stock diversification than a retiree looking to limit risk. Last week, we spoke about how to diversify a stock portfolio to both balance a longer-term view of your holdings while sharpening a shorter-term focus on factors that might necessitate changes. We're breaking this tutorial into seven sections: Understanding correlations Getting a portfolio started Is S & P 500 diversified? To better illustrate, let's consider the current make up of the S & P 500 — the diversification you'd achieve if you put an initial investment into an S & P 500 exchange-traded fund, or ETF. As of March 31, the end of the first quarter, the S & P 500 weighting was as follows: When you buy into an S & P 500 index fund, roughly 28 cents of every dollar goes into technology, while only 2.6 cents go into materials.

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