(Bloomberg) -- Top executives at India’s Paytm spent 90 minutes on a call with investors and analysts on Saturday trying to persuade them of the promise for the digital payment giant’s business model after a turbulent initial public offering. They didn’t resolve investor concerns.Most Read from BloombergChina Cash Flowed Through Congo Bank to Former President’s CroniesAn Arab City’s Booming Art Scene Is Also a Grab at Soft PowerBillionaire Family Feud Puts a Century-Old Business Empire in Jeopar
Amazon has asked India's antitrust regulator to revoke its approval for Future Retail's $3.4 billion sale of retail assets to Reliance, saying it was "illegally obtained", violating an order suspending the deal, a letter seen by Reuters shows. The approval for the deal was a "nullity in the eyes of law" as an arbitrator's order was still in force, according to the letter sent by Amazon.com Inc to the Competition Commission of India (CCI) last week. The battle between two of the world's richest men, Amazon founder Jeff Bezos and Reliance Industries Ltd boss Mukesh Ambani, marks a contest for preeminence in India’s booming, nearly trillion-dollar retail market.
A senior Amazon.com Inc executive said it remains too early to predict how the Omicron coronavirus variant will impact consumer spending during the holiday season but suggested that shoppers will press ahead for now. "It’s very early in the process of understanding what’s happening with the new variant," said Dave Clark, chief executive of Amazon's worldwide consumer business, during a Sunday morning interview on CBS' "Face the Nation." "Consumers are going to wait and see in terms of what happens ... but are going to move on with their lives into this holiday season," Clark said.