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☆ Indian retail group seeks antitrust probe of quick commerce companies Swiggy, Blinkit, Zepto
▼ + stars: | 2024-10-21 | by ( ) www.cnbc.com time to read: +2 min

Zomato's Blinkit, Zepto, and Swiggy, which runs the Instamart delivery service and is backed by SoftBank , did not respond to Reuters queries. India's biggest group of retail distributors has asked the antitrust authority to investigate three quick commerce companies — Zomato's Blinkit, Swiggy and Zepto — for alleged predatory pricing, a letter showed on Sunday. "Implement protective measures for traditional distributors and small retailers to safeguard their interests," it urged the Competition Commission of India. Annual sales on Indian quick commerce platforms are set to exceed $6 billion this year, with Blinkit having a nearly 40% market share, while Swiggy and Zepto around 30% each, research firm Datum Intelligence said. Reflecting the strength of the quick commerce sector, Zomato's shares have doubled this year and Swiggy will in the coming weeks will launch its over $1 billion IPO.

Persons: Zomato's, SoftBank, —, Swiggy Organizations: India Consumer Products Distributors Federation, Nestle, Hindustan Unilever, Reuters, Competition Commission of India, Blinkit, Intelligence, Sunday Locations: India

☆ Earnings will drive the stock market in the week ahead. That's a good thing
▼ + stars: | 2024-10-13 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

In Friday's look at wholesale inflation, the producer price index was unchanged month over month . We'll hear from Club holdings Morgan Stanley and Abbott Laboratories on Wednesday morning. Morgan Stanley: The ongoing recovery in investment banking will be front and center. That was a key theme in the second quarter , and the hope is that the July-to-September period showed a continuation of the trend for Morgan Stanley. Morgan Stanley has been strong lately, though.

Persons: Jim Cramer, Jim, Gamble, — Wells, industrials, Goldman Sachs, ASML, Morgan Stanley, Morgan Stanley's, Louis, Abbott, Charles Schwab, Johnson, JB Hunt, Kinder Morgan, Huntington, Jim Cramer's, Charly Triballeau Organizations: Club, Dow Jones, Nasdaq, Procter, Federal, JPMorgan, —, Tech, . Utilities, UnitedHealth, Taiwan Semiconductor Manufacturing, Abbott Laboratories, Abbott Labs, NEC, Abbott, Food and Drug Administration, Walgreens Boots Alliance, Citigroup, Bank of America, United Airlines, Interactive, US Bancorp, Citizens, Alcoa, PPG Industries, CSX, Truist, Netflix, Crown Holdings, American Express, Gamble, CNBC, New York Stock Exchange, Financial, Afp, Getty Locations: Wells, U.S, Wells Fargo, St, Taiwan, New York City

☆ A junk dealer found a painting in a basement. Experts say it’s an original Picasso
▼ + stars: | 2024-10-02 | by ( Barbie Latza Nadeau | ) edition.cnn.com time to read: +4 min

CNN —A painting discovered by a junk dealer in the basement of an Italian villa six decades ago is actually the work of Pablo Picasso and could sell for millions, according to experts. At just 24, Lo Rosso didn’t appreciate that the signature in the upper left corner of the artwork that read simply “Picasso” meant anything, his son Andrea Lo Rosso told CNN on Tuesday. The older Lo Rosso, who died in 2021, stuck it in a cheap frame and gave it to his wife — much to her chagrin, his son said. Finally, last month Cinzia Altieri, a graphologist for a patrimony court in Milan, was able to certify the Picasso signature as authentic. “I’m happy but let’s wait to toast, there is still one step to take before we consider this incredible story over,” Andrea Lo Rosso said.

Persons: Pablo Picasso, Luigi Lo Rosso, Lo Russo, Andrea LoRosso, Dora Maar, Luca Gentile, Lo Rosso, Andrea Lo Rosso, —, wasn’t, ” Andrea Lo Rosso, Picasso, Picasso’s, Maar ”, Altieri, ”, Marcante, CNN he’s, “, ” CNN’s Organizations: CNN, Arcadia Foundation, Picasso Foundation Locations: Pompeii, Italy, Capri, Swiss, Golfe, Juan, France, Spanish, Milan, Paris

☆ India accuses Samsung, Xiaomi of colluding with Amazon, Flipkart
▼ + stars: | 2024-09-15 | by ( ) www.cnbc.com time to read: +2 min

Samsung, Xiaomi and other smartphone companies colluded with Amazon and Walmart's Flipkart to exclusively launch products on the e-commerce firms' Indian websites in breach of antitrust laws, according to regulatory reports seen by Reuters. In Flipkart's case, a 1,696-page CCI report said the Indian units of Samsung, Xiaomi, Motorola, Vivo, Lenovo and Realme conducted similar practices. Siva Prasad wrote in the Amazon and Flipkart reports, in identical findings. Amazon, Flipkart and the CCI did not respond, and have not so far commented on the reports' findings. Both the CCI reports said that during investigations Amazon and Flipkart "deliberately downplayed" allegations of exclusive launches, but officials found the practice was "rampant".

Persons: Flipkart, Realme, G.V, Siva Prasad, Xiaomi, China's Vivo Organizations: Samsung, Reuters, Antitrust, Competition Commission of India, Amazon, Motorola, Vivo, Lenovo, China's, Bain

☆ 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

☆ Reliance, Disney offer concessions to win antitrust nod for India media merger, Reuters reports
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: +1 min

Reliance and Walt Disney have offered to sell some channels to win faster antitrust approval for their $8.5 billion India media assets merger, but are resisting changes to cricket broadcast rights they own, two sources familiar with the matter said. Antitrust experts have warned that the Reliance-Disney merger, announced in February, could face intense scrutiny as it will create India's biggest entertainment player which will compete with Sony , Zee Entertainment , Netflix and Amazon with a combined 120 TV channels and two streaming services. The sources said some of the concessions being offered relate to regional Indian language channels where the two companies may have a dominant market share. Zee and Sony planned to create a $10 billion TV behemoth in India and in 2022 offered concessions by selling three TV channels. That helped them win CCI approval, but the merger eventually collapsed.

Persons: Walt Disney, Mukesh Ambani's Organizations: Walt, Antitrust, Disney, Sony, Zee Entertainment, Netflix, Competition Commission of India, Reliance, Zee Locations: India

☆ Here are 5 key things we're watching closely in the stock market this week
▼ + stars: | 2024-07-13 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Three of our Club rate plays — solar panel company Nextracker , Stanley Black & Decker , and Ford — were our top-performing stocks for the week. Friday also ushered in the start of the second quarter earnings season. Earnings Club name Morgan Stanley reports second-quarter earnings before Tuesday's opening bell. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Nextracker, Stanley Black, Decker, Ford —, Wells Fargo, Morgan Stanley, Abbott, Goldman Sachs, Charles Schwab, JB Hunt, Johnson, Ally, Kinder Morgan, Horton, Huntington, Jim Cramer's, Jim Cramer, Jim, Ted Pick, Adam Galici Organizations: Dow Jones, Nasdaq, Big Tech, PPI, Abbott Laboratories, Libre Rio, Bank of America, PNC Financial, PNC, Pinnacle Financial, Housing, U.S . Bancorp, Northern Trust Corporation, Citizens, United Airlines, Alcoa, Steel Dynamics, Green Realty, Taiwan Semiconductor, Nokia, Infosys Technologies, McLennan Companies, T Bank Corp, Forestar, Novartis, Textron, Netflix, PPG Industries, AAR, American Express, Fifth Third Bancorp, Halliburton, HAL, Comerica, CMA, Financial, Jim Cramer's Charitable, CNBC Locations: Wells, BlackRock, BLK, U.S, Marsh, Davos, Switzerland

☆ Chinese consumer stocks to buy even if the overall market rally fades
▼ + stars: | 2024-05-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

It's now focused on finding industry leaders with high free cash flow. Hong Kong-based AlphaHill Capital is looking specifically for Chinese consumer names with free cash flow growth, said Siliang Jiang, the firm's partner and portfolio manager. Jiang expects the Chinese consumer will start to turn around in the second half of this year or next year. China's "Consumer Confidence Index (CCI) edged up in the past 9 months, despite falling property prices and fears of 'household balance sheet recession '. Two of their picks based on positive free cash flow are Li Auto and New Oriental Education .

Persons: Ding Wenjie, Ding, It's, Siliang Jiang, Jiang, Li, Liqian Ren, Ren, — CNBC's Michael Bloom Organizations: Citi, China Asset Management Co, CNBC, Investors, China Merchants Securities, Baidu, Bank of America, Li Auto, New Oriental, Speed Railway, WisdomTree, Reuters Locations: China, India, Hong Kong, Tencent, Beijing, Shanghai, Shanghai . State

☆ Here are investor Jenny Harrington's top income plays — and they all yield around 6% or higher
▼ + stars: | 2024-03-27 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

When income investor Jenny Harrington looks for top dividend stocks, names like Whirlpool come to mind. The home appliance manufacturer not only has a 6% dividend yield, but it has also gotten very cheap, Harrington said. She buys names that have a "reasonably high dividend yield" for her portfolio, which typically generates a 5% dividend yield or better. "We specifically focus on dividend income rather than dividend growth, because the objective of our portfolio is to generate a strong and sustainable income stream for our clients," Harrington said. WHR 1Y mountain Whirlpool's one-year performance She would also like to see the potential for earnings growth in the names she buys.

Persons: Jenny Harrington, Harrington, Jay Brown, Anthony Melone, Ted Miller, William Brown, cyclically Organizations: Whirlpool, Asset Management, Dow Jones U.S, SEC, Investment Management, Crown Castle, Clearway Energy, Clearway, L3Harris Technologies

☆ The 4 most important things we're watching in the stock market this coming week
▼ + stars: | 2024-01-20 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Fortunately, we'll get useful information in the coming weeks as earnings season ramps up and updated inflation data is released. We really want to see more supply come into the market to provide some relief on shelter costs. Looking to next week, we'll get a several key economic updates and a ramp up of earnings releases. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Morgan Stanley, we'll, Procter & Gamble, we've, We're, we're, We'll, Forex, Brown, BRO, Zions, CrossFirst, Johnson, Lockheed Martin, Horton, ERIC, Baker Hughes, Abbott, ABT, Clark, BOK, Monro, Simmons, United Community Banks, Lam, Ethan Allen Interiors, Raymond James Financial, Sherwin, Williams, Northrop, Murphy, Arthur J, Levi Strauss, LEVI, Booz Allen, Jim Cramer's, Jim Cramer, Jim, John Gress Organizations: Nasdaq, Microsoft, Nvidia, Tesla, Apple, Bank of America, Reserve, Procter, Gross, Citigroup, of Hawaii, United Airlines, Logitech International S.A, AGNC Investment, Agilysys Inc, Great Southern Bancorp, Enterprise Financial Services, Independent Bank, Home Bancorp, RBB Bancorp, TrustCo Bank Corp, Gamble Co, Verizon Communications, 3M Company, General Electric Co, GE, RTX Corporation, Halliburton Company, HAL, Lockheed, Ericsson, Bank, GATX Corporation, MakeMyTrip, National Bancorp, Synchrony, Webster, Atlantic Union Bankshares Corporation, Invesco PLC, Peoples Bancorp Inc, Sandy Spring Bancorp, Netflix, Texas Instruments Incorporated, Steel Dynamics, Canadian National Railway Company, NBT Bancorp, East West Bancorp, Covenant Logistics Group, Inc, Hanmi, National Bank Holdings Corporation, Premier Financial, QCR Holdings, Renasant Corporation, Triumph, Veritex Holdings, ASML, SAP, Textron, Oriental Education, Technology Group, First BanCorp, General Dynamics, OFG Bancorp, Prosperity, TE Connectivity, United Community, Blue Foundry Bancorp, Capitol Federal, HBT, Teledyne Technologies, Business Machines, IBM, Las Vegas Sands Corp, Lam Research, United Rentals, Berkley Corp, Crown, International, Packaging Corporation of America, Seagate Technology plc, CACI, Swift Transportation Holdings, Ameriprise Financial, Concentrix Corporation, First Bank, Liberty Energy, Pathward Financial, Columbia Banking, CSX, American Airlines Group, NextEra Energy Inc, Alaska Air Group, Dow Chemical Co, Valero Energy, Southwest Airlines Co, Nextera Energy, Williams Co, Union Pacific, Applied Industrial Technologies, Mobileye, Northrop Grumman, Comcast, Nokia, TAL Education, McCormick & Company, Intel, Visa Inc, Gallagher, Co, KLA Corporation, Western Alliance, Mobile, L3Harris Technologies, Western, Olin Corporation, American Express Co, Booz, Booz Allen Hamilton Holding, Colgate, Palmolive Co, Norfolk Southern Corporation, Jim Cramer's Charitable, CNBC, Gamble's Locations: Procter &, U.S, China, ZION, Freeport, Kimberly, Las, W.R, Chicago

☆ Here are Tuesday's biggest analyst calls: Netflix, Apple, IBM, Coinbase, Nike, Domino's, Meta, Charles Schwab and more
▼ + stars: | 2023-12-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Goldman Sachs reiterates Nike as buy After a transfer of analyst coverage, Goldman Sachs said it sees improving growth for Nike shares. UBS downgrades United Rentals to neutral from buy UBS said in its downgrade of the equipment rental company that it sees a more balanced risk/reward. UBS reiterates Apple as neutral UBS said its analysis of Apple's App Store shows revenue increasing. UBS reiterates Netflix as buy UBS said it's standing by its buy rating on Netflix shares after hosting the company at a conference. William Blair reiterates Charles Schwab as outperform William Blair named Schwab a top pick for 2024, noting it's well-positioned.

Persons: Raymond James, Piper Sandler downgrades Albemarle, Piper Sandler, it's, Goldman Sachs, Roth, Roth MKM, TD Cowen, Bernstein, Mizuho downgrades Prologis, Wells, Wells Fargo, Oppenheimer, Domino's, Elliott, Morgan Stanley, Meta, Needham, Coinbase, JPMorgan, Raymond James downgrades Lululemon, LULU, Strong, William Blair, Charles Schwab, Schwab Organizations: Crescent Energy, Energy Company, Eagle Ford, UW, Nike, Bank of America, UBS, Credit Suisse, Yale, HY, United Rentals, Apple, Semiconductors, JPMorgan, IBM, Consulting, Mizuho, Marriott, of America, Netflix, Management, Integra, Financial, ISI, Disney, BR, Cargo Therapeutics, Citi, Travere Therapeutics Locations: Houston, Uinta, Eagle, LTHM, 2024E, 2025E, Argentina, Boston, China, Mexican

A general view of the Phillips 66 Company's Los Angeles Refinery, which processes domestic & imported crude oil into gasoline, aviation and diesel fuels, in Carson, California, U.S., March 11, 2022. REUTERS/Bing Guan/File Photo Acquire Licensing RightsNov 29 (Reuters) - Elliott Investment Management has taken a $1 billion stake in Phillips 66 and is urging the U.S. oil refiner and pipeline operator to revamp its board to boost lagging performance. Phillips 66 has lagged its U.S. refining rivals at a time when fuel demand and margins have soared for the industry. Phillips 66 Chief Executive Mark Lashier acknowledged discussions with Elliott but did not say whether the company was open to adding two Elliott-recommended directors to its board. Phillips 66 currently has 13 board members.

Persons: Bing Guan, Phillips, Mark Lashier, Elliott, Lashier, John Pike, Mike Tomkins, Garfield Miller, Miller, Svea Herbst, Bayliss, Laura Sanicola, Gary McWilliams, Anil D'Silva, Bernadette Baum, Mark Porter Organizations: Phillips, Los, Los Angeles Refinery, Elliott Investment Management, Marathon Petroleum, Energy, Exxon Mobil, Aegis Energy Advisors, Elliott, Svea, Thomson Locations: Los Angeles, Carson , California, U.S, Houston, Providence, New York, Bengaluru

☆ Wall St ends lower amid Cyber Monday madness
▼ + stars: | 2023-11-27 | by ( Stephen Culp | ) www.reuters.com time to read: +5 min

Remarks from Federal Reserve policymakers later in the week will also be parsed for clues regarding the duration of the central bank's restrictive policy. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Amid the Cyber Monday fervor, Affirm Holdings (AFRM.O) surged 12.0%, as the payment platform's "buy now, pay later" option was seen hitting an all-time high, boosting the online holiday sales. Declining issues outnumbered advancing ones on the NYSE by a 1.25-to-1 ratio; on Nasdaq, a 1.63-to-1 ratio favored decliners. The S&P 500 posted 38 new 52-week highs and no new lows; the Nasdaq Composite recorded 84 new highs and 79 new lows.

Persons: Elliott, Tom Hainlin, Greg Bassuk, Brendan McDermid, they’ve, Hainlin, Shopify, Stephen Culp, Shristi Achar, Shinjini Ganguli, Matthew Lewis Organizations: Dow, Nasdaq, U.S, Bank Wealth Management, Adobe Analytics, AXS Investments, Federal Reserve, Financial, Commerce, New York Stock Exchange, REUTERS, Dow Jones, Elliott Investment Management, GE HealthCare, NYSE, Thomson Locations: Minneapolis, New York, New York City, U.S, Bengaluru

☆ Wall St pauses amid Cyber Monday madness; data, Fed speakers on tap
▼ + stars: | 2023-11-27 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The tech-heavy Nasdaq was slightly higher, the Dow was edging red and the S&P 500 was essentially unchanged, but leaning lower. The S&P 500 Retail index (.SPXRT) was up 0.9%. Later in the week, market participants look to the Commerce Department's second take on third-quarter GDP expected on Wednesday, to be followed on Friday with its broad-ranging Personal Consumption Expenditures (PCE) report. The S&P 500 posted 34 new 52-week highs and no new lows; the Nasdaq Composite recorded 78 new highs and 64 new lows.

Persons: Brendan McDermid, Elliott, Dow, Greg Bassuk, Bassuk, Shopify, Stephen Culp, Shristi Achar, Shinjini Ganguli, Matthew Lewis Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Adobe Analytics, AXS Investments, Federal Reserve, Financial, Commerce, Dow Jones, Walmart, Elliott Investment Management, GE HealthCare, NYSE, Thomson Locations: New York City, U.S, New York, Bengaluru

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The rebound in equities in November has brought the S&P 500 (.SPX) close to its highest intra-day level this year. "We are headed for a mixed session today...maybe something like profit taking at the beginning and then just a leveling off."U.S. The S&P 500 retail sector (.SPXRT), housing Amazon, rose 0.5%. The S&P index recorded 7 new 52-week highs and no new lows, while the Nasdaq recorded 34 new highs and 18 new lows.

Persons: Brendan McDermid, Elliott, Peter Cardillo, Jerome Powell, advancers, Shristi Achar, Saumyadeb Chakrabarty Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Spartan Capital Securities, Walmart, Reuters, Fed, Dow Jones, Crown, Elliott Investment Management, GE HealthCare, UBS, NYSE, Thomson Locations: New York City, U.S, Bengaluru

☆ Wall St futures edge lower as investor await data, policy cues
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Wall Street ended the Thanksgiving week on a positive note, with the major indexes notching up their fourth consecutive week of gains on growing optimism that the Federal Reserve was likely done hiking interest rates. ET, Dow e-minis were down 48 points, or 0.14%, S&P 500 e-minis were down 7 points, or 0.15%, and Nasdaq 100 e-minis were down 23.75 points, or 0.15%. The personal consumption expenditure index data for October - the Fed's preferred inflation gauge - is slated to be released on Thursday. Reporting by Shristi Achar A and Shashwat Chauhan in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Axel Rudolph, Shristi Achar, Shashwat Chauhan, Saumyadeb Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Dow e, IG Group, Walmart, Crown, Elliott Investment Management, Reuters, GE HealthCare, UBS, Thomson Locations: New York City, U.S, Bengaluru

☆ US Grid-Scale Energy Storage Installations Hit New Quarterly Record - Report
▼ + stars: | 2023-09-25 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

(Reuters) - The U.S. grid-scale energy storage installations hit a new record in the second quarter of 2023, a report by Wood Mackenzie and the American Clean Power Association (ACP) said. Grid-scale energy storage is essential in helping balance and regulate energy supply in a grid that is increasingly reliant on intermittent wind and solar power. Across all segments of the industry, the U.S. energy storage market added 5,597 megawatt hours (MWh) in the second quarter this year, a new quarterly record. "We saw a huge bounce back in Q2 after consecutive quarterly declines in the market," said Vanessa Witte, senior analyst with Wood Mackenzie’s energy storage team. Meanwhile, community, commercial, and industrial (CCI) installations were at 107 MWh in the second quarter, according to the report.

Persons: Wood Mackenzie, John Hensley, Vanessa Witte, Wood, Ashitha, Eileen Soreng Organizations: Reuters, American Clean Power Association, Research Locations: U.S, California, Bengaluru

☆ These are the 3 key things that will impact the stock market in the week ahead
▼ + stars: | 2023-07-15 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

A lot was riding on these important measures of inflation after the scorching-hot ADP jobs report last week. Here are 3 things you need to know for the week ahead: 1. Industrial production and capacity utilization, also out Tuesday, shines a light on manufacturing, which attributes about 12% to U.S. GDP. Six months is generally considered to represent a balance between supply and demand in the housing market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Morgan Stanley, Johnson, Jeff Miller, Lockheed Martin, Charles Schwab, JB Hunt, Goldman, Baker Hughes, Ally, Kinder Morgan, Zions, Philip Morris, Abbott, ABT, Jim Cramer's, Jim Cramer, Jim, Scott Olson Organizations: Nasdaq, Dow Jones Industrial, Housing, CPI, Halliburton, HAL, Johnson, of America Corp, Lockheed, Lockheed Martin Corp, Novartis International AG, PNC Financial Services Group, Inc, PNC, Charles Schwab Corp, Bank of New York Mellon Corporation, BK, Synchrony, Interactive, Goldman Sachs Group, U.S . Bancorp, ASML, Citizens Financial, T Bank Corp, Northern Trust Corporation, Horizon National Corp, Business Machines Corp, IBM, United Airlines, Netflix, Steel Dynamics, Alcoa, Discover Financial Services, Crown, International Corp, Equifax Inc, Las Vegas Sands Corp, Liberty Energy Inc, Philip Morris International Inc, Taiwan Semiconductor Manufacturing Company, American Airlines Group Inc, Travelers Companies, SAP, Nokia Corp, Truist Financial Corporation, Company, McLennan Companies, Infosys Technologies Ltd, Newmont Mining Corp, Fifth Third Bancorp, Pool Corporation, Alfa Laval, Webster Financial Corp, Blackstone, Financial Corp, PPG Industries, CSX Corp, CSX, Berkley Corp, Swift Transportation Holdings Inc, American Express Co, AutoNation Inc, Interpublic, of Companies, Autoliv Inc, Huntington Bancshares, Financial Corporation, Roper Technologies, Comerica, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Las, ZION, Horton, Freeport, Marsh, ALFVY, W.R, Lemont , Illinois

Google's latest Supreme Court filing shows its deepening disagreement with how the CCI conducted its Android investigation. Amazon (AMZN.O) also declined to comment, while the CCI did not respond to the Alphabet-owned company's court filing, which is set to be heard in the coming days. Google has been particularly concerned about India's Android decision as the directives were seen even more sweeping than those imposed in the European Commission's landmark 2018 ruling against the company's Android market abuse. Google is arguing in India's Supreme Court against any penalty and saying it did not abuse its market position. Google has made sweeping changes to its Android business model in India following CCI's directive.

Persons: Arpan Chaturvedi, Aditya Kalra, Kim Coghill Organizations: Google, India's, U.S, Amazon, Reuters, South, Indian, U.S ., Thomson Locations: India, DELHI, South Korea, India's, U.S

It is a new challenge for formerly government-owned Air India, which Tata Group took over last year. The CCI, Air India and Vistara did not immediately respond to requests for comment. To address the CCI's concerns, Air India could make concessions such as giving up certain routes or reducing frequency, the second source said, adding that Air India remains confident the matter can be resolved by recommending certain changes. Vistara and Air India both fly on international routes such as London and Dubai and would need antitrust clearances in other jurisdictions, the first source said. Air India is expecting similar queries from foreign countries once it applies for clearance there, but is waiting for the India process to first close, the source added.

Persons: Vistara, Vaibhav Choukse, India's J, Choukse, Aditi Shah, Aditya Kalra, Gerry Doyle Organizations: Vistara, Air India, Tata Group, Tata, Air, The, of India, Singapore Airlines, India's, Sagar Associates, IndiGo, Thomson Locations: DELHI, Air India, India, London, Dubai

The case against Saint-Gobain and its local unit was filed to the Competition Commission of India (CCI) in May by a retired glass industry executive, whose name was redacted in the documents as the person sought confidentiality. Saint-Gobain has a 44% share of the float glass market in India and a 19% share of the coated one, according to the documents. The group and its India unit, Saint-Gobain India Private Limited, "conduct their activities in compliance with laws", in particular competition law, it said. The May 25 case documents allege Saint-Gobain entered into agreements with glass processors, forcing them to "exclusively" purchase glass from the company or face stopped supplies if that obligation is not fulfilled. Saint-Gobain counts India as a key market.

Persons: Gonzalo Fuentes, Gobain, Benoit Bazin, Aditya Kalra, Muralikumar Organizations: La Defense, REUTERS, India, Company, Compagnie de Saint, Reuters, Saint, Competition Commission of India, Limited, DLF, Thomson Locations: Courbevoie, Paris, France, India, DELHI

NEW DELHI, June 26 (Reuters) - Google (GOOGL.O) has urged India's Supreme Court to quash antitrust directives against it for abuse of the Android market, two sources said, as its presses its legal battle against the competition watchdog in one of its most important markets. The Competition Commission of India (CCI) said in October that Google, whose Android mobile operating system powers 97% of 600 million smartphones in India, had exploited its dominant position. Google is now asking the Supreme Court to quash the remainder of the directives, the first source with direct knowledge said. Google's Supreme Court challenge has not been previously reported. The CCI too has approached the Supreme Court, seeking to reverse the tribunal's decision to give Google partial relief, according to a third source.

Persons: India's, quashing, Aditya Kalra, Conor Humphries Organizations: of India, Google, U.S, Alphabet Inc, Supreme, Thomson Locations: DELHI, India

☆ India starts inquiry into Google app payments antitrust compliance
▼ + stars: | 2023-05-12 | by ( Aditya Kalra | ) www.reuters.com time to read: +2 min

Tinder-owner Match Group (MTCH.O) and Indian startups have asked the watchdog to investigate Google's (GOOGL.O) new User Choice Billing (UCB) system, which they alleged was anti-competitive. The Competition Commission of India (CCI) on Friday issued an order stating "it is of the opinion that an inquiry needs to be made." The order is not public and Google did not immediately respond to a request for comment. Google later began offering UCB to allow alternative payments alongside Google's when purchasing in-app digital content, but some companies complained the new system still imposes a high "service fee" of 11%-26%. Google has previously said the service fee supports investments in the Google Play app store and the Android mobile operating system, ensuring it distributes it for free, and covers developer tools and analytic services.

☆ Indian startups go to court to stop Google's new in-app billing system
▼ + stars: | 2023-04-11 | by ( Aditya Kalra | ) www.reuters.com time to read: +2 min

NEW DELHI, April 11 (Reuters) - A group of Indian startups has asked a court to suspend Alphabet Inc (GOOGL.O) Google's new in-app billing fee system until the country's antitrust body investigates the U.S. firm for alleged non-compliance with its directives, a legal filing showed. The 744-page filing, seen by Reuters, asks the court to "keep the implementation of Google’s UCB in abeyance" until CCI hears the complaint. The new service fee system, it says, supports investments in Google Play app store and the Android mobile operating system, ensuring it distributes it for free, and covers developer tools and analytic services. But Indian startups argue Google's UCB system still imposes a "service fee" of 11-26%, compared with the earlier in-app payment system that charged a fee of 15-30%. The new system is "cloaked as another version" of Google's earlier system, the ADIF filing stated.

☆ India startups call for antitrust probe of Google in-app billing fee
▼ + stars: | 2023-04-06 | by ( Aditya Kalra | ) www.reuters.com time to read: +3 min

[1/2] A woman walks past the logo of Google during an event in New Delhi, India, August 28, 2018. REUTERS/Adnan AbidiSummarySummary Companies Indian startups protest Google's in-app feeLatest challenge to Google in key marketIndian startups say Google bypasses antitrust orderGoogle has said app payment fee covers services, securityNEW DELHI, April 6 (Reuters) - Top startups in India have called on the country's competition watchdog to launch an inquiry into Alphabet's Google (GOOGL.O) for allegedly bypassing an antitrust directive by charging a high service fee for in-app payments, a filing shows. The Alliance of Digital India Foundation (ADIF) filing marks the latest tussle between Google and Indian startups, which have repeatedly criticized the U.S. company for imposing unfair business restrictions that hurt smaller players. Details of the ADIF filing, which was reviewed by Reuters on Thursday, have not previously been reported. "The policy of UCB is unfair and the same would lead to unjust enrichment to Google," the filing said.

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