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India Snubs $1 Billion Amazon Investment as Resentment Grows

January 17, 2020 admin Comments Off on India Snubs $1 Billion Amazon Investment as Resentment Grows

(Bloomberg) — Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. India’s government has scoffed at Amazon.com Inc. founder Jeff Bezos’ offer to invest $1 billion in the country, firing the latest salvo at an e-commerce giant that’s been accused of predatory business practices.Trade minister Piyush Goyal delivered a stinging rebuke two days after Bezos arrived in New Delhi and touted his efforts to help digitize small and medium enterprises. The investment would bring Amazon’s bet on the Indian market to about $6.5 billion. Goyal told a gathering of foreign ministers …read more […]

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Vodafone Idea’s Future Clouded After Court Snub; Shares Dive

January 17, 2020 admin Comments Off on Vodafone Idea’s Future Clouded After Court Snub; Shares Dive

(Bloomberg) — Vodafone Group Plc’s India venture plunged by a record on prospects of having to pay the government $4 billion in back-fees as early as next week, highlighting concerns over the future of the beleaguered mobile carrier.Local wireless operators including Vodafone Idea Ltd. and Bharti Airtel Ltd. suffered a blow Thursday, when the nation’s Supreme Court rejected their appeal against an October verdict requiring them to pay as much as $13 billion for spectrum and license fees. The companies were counting on some relief, such as a reversal of the earlier order, reduced liabilities or even staggered payment.Shares of …read more […]

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Stocks Advance With U.S. Futures; Treasuries Dip: Markets Wrap

January 17, 2020 admin Comments Off on Stocks Advance With U.S. Futures; Treasuries Dip: Markets Wrap

(Bloomberg) — Stocks marched higher alongside U.S. equity futures on Friday as investors mulled earnings and economic data while maintaining the momentum that’s put global indexes at records highs this week. Treasuries slipped.The Stoxx Europe 600 Index opened higher, with all 19 industry groups advancing, after most of Asia’s main markets rose. Shares fluctuated in Shanghai after data showed Chinese industrial output beat estimates. Contracts on the S&P 500 Index also climbed, signaling the underlying gauge will add to the record close it hit after U.S. retail sales strengthend in December.Treasuries dipped, including longer-dated notes, after the U.S. announced plans …read more […]