Amazon CEO Andy Jassy said Wednesday the company does not have plans to stop selling the antisemitic film that gained notoriety recently after Brooklyn Nets guard Kyrie Irving tweeted out an Amazon link to it.
Pressure has been mounting on Amazon to discontinue sale of the film, called Hebrews to Negroes: Wake Up Black America," since Irving shared the link to the documentary with his millions of Twitter followers in October. The synopsis on Amazon says the film uncovers the true identity of the Children of Israel.
The Supreme Court (SC) on Wednesday lifted the stay on arbitral proceedings before Singapore International Arbitration Centre (SIAC) between Future Group and Amazon. The Bench also said that Future Retail’s plea for termination of proceedings before SIAC will also be heard on priority.
The SC said in its order that the interim application will be transmitted to the Delhi High Court as agreed by both parties and as proceedings have already begun there.
Ecommerce giant Amazon on Tuesday put out a public notice in a newspaper accusing Future Retail (FRL) and its promoters of committing fraud after Reliance Industries (RIL) took over some retail stores of FRL.
Amazon is fighting a legal battle with FRL to stop the Kishore Biyani-led retailer’s $3.4 billion deal with Reliance Industries Limited (RIL). In October 2020, Amazon sent legal notice to Future for the deal. It alleged it breached Future’s agreement with Amazon.
Shares of Future Retail surged 20 per cent on Monday following reports that the company was likely to approach various courts and tribunals bringing to their notice the latest order by the Competition Commission of India (CCI).
Future Retail’s scrip jumped to a high of Rs 57.50 as against the previous close of Rs 47.95 on the National Stock Exchange. On Friday, the CCI had placed in "abeyance" Amazon's investment in Future Coupons.
Future Retail said on Sunday that it firmly believes that the Competition Commission of India (CCI) will not be intimidated by the arrogance of Amazon. Future hopes that instead, CCI will take action on its show cause notice against the US-based e-commerce company, in accordance with the law.
This statement comes after Amazon walked out of CCI proceedings on November 24. “The counsels to Amazon, in utter disregard to the norms and utter disrespect to the Indian statutory regulatory authority, refused to argue the matter. They walked out of the proceedings in an attempt to browbeat the CCI,” the Indian retailer said in a stock exchange filing.
Amazon.com Inc on Thursday reported a slump in profit that it expects will continue through the holiday quarter, as higher wages and spending to attract workers diminish the company's windfall from online shopping.
Shares fell 4% in after-hours trade.
After a year of blockbuster results, the world's largest online retailer is facing a tougher outlook.
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.