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News in Short

News in Short - 28-August-2020

Amazon faces anti-trust challenge from online sellers

Date: 28 August 2020 Tags: miscellaneous
  • A group of more than 2,000 online sellers has filed an antitrust case against Amazon in India, alleging the US. company favours some retailers whose online discounts drive independent vendors out of business.
  • The case presents a new regulatory challenge for Amazon in India, where it has committed $6.5 billion in investment but is battling a complex regulatory environment.
  • In January, the Competition Commission of India (CCI) had ordered an investigation of Amazon and rival Flipkart over alleged violations of competition law and certain discounting practices, which Amazon is challenging, according to court filings.

Export preparedness Index

Date: 28 August 2020 Tags: Reports & Indices
  • Gujarat has topped the Niti Aayog's Export Preparedness Index 2020 followed by Maharashtra and Tamil Nadu in the second and third place respectively.
  • According to the report, six of eight coastal states feature in the top ten rankings, indicating the presence of strong enabling and facilitating factors to promote exports.
  • Among the landlocked states, Rajasthan has performed the best, followed by Telangana and Haryana.
  • Among the Himalayan states, Uttarakhand topped the chart, followed by Tripura and Himachal Pradesh, the report said adding that across Union Territories, Delhi has performed the best, followed by Goa and Chandigarh.
  • The report noted that Chhattisgarh and Jharkhand are two landlocked states that had initiated several measures to promote exports.

Government to sell stake in HAL

Date: 28 August 2020 Tags: Miscellaneous
  • The Centre will sell up to 15% stake in state-owned defence unit Hindustan Aeronautics Ltd (HAL) which will help it mop up about ? 5,000 crore at a time when its finances have been stretched due to the ongoing pandemic.
  • The government holds about 90% in HAL post its IPO in 2018. HAL, a navaratna, is the largest defence PSU in the country and makes fighter planes such as MiG-21, MiG-27, Jaguar, and Su-30 MkI under license.
  • It designs, develops manufactures, repairs and overhauls aircraft, helicopters, aero engines, avionics, accessories and aerospace structures. It has 20 production divisions and 11 research and design centres.

Computer pioneer Arnold Spielberg dies

Date: 28 August 2020 Tags: Obituaries
  • Arnold Spielberg, father of filmmaker Steven Spielberg and an innovating engineer whose work helped make the personal computer possible, has died at 103.
  • Spielberg and Charles Propster designed the GE-225 mainframe computer in the late 1950s while working for General Electric. The machine allowed computer scientists to develop the programming language BASIC, which would be essential to the rise of personal computers in the 1970s and ‘80s.
  • Arnold helped Steven produce his first full-fledged movie, Firelight, made in 1963 when the budding director was 16.The son of Ukrainian Jewish immigrants, Arnold Spielberg was born in Cincinnati in 1917.

TikTok CEO Kevin Mayer resigns

Date: 28 August 2020 Tags: Appointments & Resignations
  • TikTok CEO Kevin Mayer has left the Chinese-owned video app firm just three months since joining, and only days since the company sued the administration of U.S. President Donald Trump over an executive order effectively banning it in the United States.He will be replaced by U.S. General Manager Vanessa Pappas on an interim basis.
  • The resignation comes at a tricky time for super-fast growing TikTok as it tries to persuade both the United States and India that it is not a security threat, while at the same time holding discussions with prospective buyers following a second U.S. order demanding the sale of its U.S. operations.
  • Mayer was Walt Disney Co's top streaming executive before becoming chief executive officer of TikTok and chief operating officer of parent ByteDance on June 1.