Financial Daily Dose 1.14.2020 | Top Story: Amazon Hit with Antitrust Case by India’s Government

Robins Kaplan LLP
Contact

Robins Kaplan LLP

BlackRock Inc. will sell out of all companies “that get more than 25% of sales from thermal coal.” This threshold, however, won’t affect larger, diversified miners—which includes some of the biggest coal shippers. – Bloomberg and NYTimes

MGM Resorts International agreed to sell the MGM Grand and Mandalay Bay and casinos to Blackstone Group Inc. Blackstone would own just under half of the properties through its non-listed real-estate investment trust, while the other portion will be owned by MGM Growth Properties LLC, a publicly traded REIT. – WSJ

Oyo, an Indian budget hospitality company, has lost more than 65,00 rooms since October. Oyo’s woes are part of a larger pullback by  SoftBank funded start-ups. Anybody remember WeWork? – NYTimes and Bloomberg

Bezos hit with an antitrust case by India’s government. The competition Commission of India opened an investigation into Amazon and Flipkart, the Indian e-commerce giant mostly owned by Walmart. – NYTimes

Amazon plans to ask a judge to temporarily enjoin “Microsoft Corp. from performing any substantial work on a $10 billion” government cloud contract until the law suit challenging its validity is determined. Amazon filed to protest its loss of the Pentagon’s Joint Enterprise Defense Infrastructure, or JEDI, cloud contract. – Bloomberg

Old Sears agrees to settle with new Sears for about $18 million. Under the settlement new Sears will pay old Sears $12 million in cash, which will help old Sears’s pay vendors, tax authorities, and unpaid business partners. – WSJ

Boeing Co. is no longer the world’s largest planemaker, losing the title to Airbus SE. Boeing delivered 380 jetliners last year, while Airbus tallied 863 planes. Boeing’s troubles result from the issues and uncertainty surrounding the 737 Max. – Bloomberg

Big banks showing a “’mixed bag of results’” to start this earnings season. Equities erased losses as officials prepare to sign the China trade deal in Washington; JPMorgan Chase & Co. and Boeing Co. pushed the Dow Jones Industrial Average to a record high; Wells Fargo & Co. fell short of forecasts. – Bloomberg

Amazon seeks to further disrupt the book publishing industry by targeting top-selling authors, recently contracting with Dean Koontz. Amazon Publishing promises big paychecks and powerful e-commerce tools to help market and sell the books, which is Shakespeare to many an author’s ear. – WSJ

Big data and artificial intelligence have begun to mesh with the life sciences. This article compares the different approaches used by two DNA tests companies, one in China and one in the U.S. The potential of the technology and use of the data is both terrifying and remarkable. – Bloomberg

Written by:

Robins Kaplan LLP
Contact
more
less

Robins Kaplan LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide