Future Retail’s Dollar Bonds Drop 10% as India’s SC Rules in Favour of Amazon
India’s Supreme Court upheld the Singapore Emergency Arbitrator (EA) award, halting Future Retail’s $3.4bn deal with Reliance Retail, and thereby ruling in favour of Amazon. Amazon filed their first plea against the deal in October 2020 with the Singapore Arbitrator...
Amazon Misses Estimates as Online Sales Slows
Amazon announced weaker Q2 sales than estimates at $113.1bn vs. forecasts of $115.2bn. Nevertheless, this was its third consecutive quarter of over $100bn in sales. Revenues grew 27% YoY and profits were at $7.8bn in the quarter, up 48% YoY. Amazon’s core online store...
Amazon Upgraded To AA as S&P Joins Fitch
Global e-commerce giant Amazon has been upgraded to AA from AA- by S&P Global, which said that it “expects Seattle-based e-commerce and cloud computing company Amazon.com Inc. to sustain strong revenue and profit growth in the coming years, based on its...
