Australia ASIC Tightens Auditor Oversight After KPMG Leak Scandal 
South Korea Q2 GDP Beats Forecasts as AI Chip Exports Drive Growth 
Why Maruti Suzuki Is Losing Market Share in India as SUVs and Premium Features Gain Popularity 
GE Vernova Q2 Revenue Tops Estimates as Earnings Miss, Shares Slide Despite Higher 2026 Outlook 
Japan PM Sanae Takaichi Unveils Growth Plan as BOJ Independence Concerns Lift Bond Yields 
Gold Price Jumps Near 2% Above $4,080 as Middle East Tensions Lift Safe-Haven Demand 
Wistron Opens $700M Texas AI Factory to Build Nvidia Superchips in U.S. 
Bank of America Says These Overlooked AI Stocks Could Be the Next Winners 
IBM Q2 Earnings Miss Estimates as Software Growth Offsets Infrastructure Weakness 
Gold Price Surges Above $4,100 as Middle East Tensions Boost Safe-Haven Demand 
Alaska Air Q3 Outlook Misses Estimates as Higher Fuel Costs Weigh on Profit Forecast 
India FMCG Q1 Earnings Preview: Higher Input Costs Likely to Weigh on Profit Margins 
Macquarie Names Greg Ward as CEO, Signaling Stability and Strategic Continuity 
Pakistan Seeks $10 Billion U.S. Exchange Stabilization Fund to Boost Forex Reserves 
Elon Musk Fuels SpaceX-Tesla Merger Speculation After Earnings Call 
US Stock Exchanges Face Earnings Test as Trading Boom Meets Crypto Competition 
Ryanair Warns Summer Airfares May Stay Lower as Quarterly Profit Misses Estimates 
Amazon made a request from the antitrust regulator in India, and it is related to the approval of its deal with Future Retail, the country’s largest retail company. The American e-commerce and tech firm are asking the officials to nullify its approval for the retailer's sale of its retail assets to Reliance Industries Limited.
The sale deal between Future Retail and Reliance is valued at $3.4 billion, and Amazon wants the deal to be revoked, citing violations to the order of suspending the deal. The Seattle, Washington, headquartered retail company claimed the sale was "illegally obtained," as per Reuters.
In a letter that was sent by Amazon Inc. to the Competition Commission of India (CCI) last week, it said that the approval of the sale deal was a "nullity in the eyes of law" because the arbitrator's order was still in effect.
It was noted that the dispute between Amazon’s owner, Jeff Bezos, and Reliance’s Mukesh Ambani, marks a competition for superiority in the country’s booming retail market that has been estimated to be close to reaching the trillion-dollar mark.
Whoever wins in this dispute over Future Retail Ltd, which is India’s second-leading retailer, is expected to gain the upper hand in the raise to supply the daily needs of India’s huge population. This means big business for the major retailers.
At any rate, the publication contacted Future Retail, Amazon, CCI, and Reliance to get their comments on the matter, but no one responded to the request. On the other hand, Future Retail claimed the arbitrator's suspension order was not valid in the first place, but the Indian courts refused to overturn this decision.
Meanwhile, Amazon has approached India’s Supreme Court in an effort to stop the antitrust review of the deal with Future Group. Business Insider India noted that the antitrust review is currently looking into the allegations that Amazon deliberately concealed information while seeking clearance for its deal with Future Retail Group in 2019.
The CCI reportedly held a closed-door hearing last week, and Amazon’s lawyers told the antitrust regulator that the company made a request from the country’s apex court to stop the investigation, but it declined to explain their position on the issue.
