The nearly $27 billion of
Online retail giant Amazon.com Inc has secured approval to stock and sell food and groceries in India, potentially expanding its business in the fast-growing economy where it is in a pitched battle with home-grown rival Flipkart.
Amazon confirmed winning government … Read the rest
Chinese shipping giant Cosco is set to buy its Hong Kong rival OOIL for $6.3bn (£4.9bn).
The deal would make Cosco the world’s third biggest shipping company, with more than 400 vessels.
OOIL’s majority owner has accepted the bid, though
Oil prices recovered some losses on Monday after a 3 percent fall in the previous session, but markets remain under pressure from high drilling activity in the United States and ample supplies from producer club OPEC.
Brent crude futures, the … Read the rest