Market Overview

Today's Pickup: India Breaks Up With Amazon, But (Spoiler Alert!) They're Back Together Again; Idaho Snubs Feds Over Hemp

Today's Pickup: India Breaks Up With Amazon, But Spoiler Alert! They're Back Together Again; Idaho Snubs Feds Over Hemp

Good day,

Only a week ago, India basically said to, Inc. (NASDAQ: AMZN): "We're not that into you." The mom and pop businesses that comprise 90% of India's retail vendors didn't like the fact that the e-commerce giant was cutting exclusive deals with top sellers or had a stake in some of  their businesses. So, Narendra Modi's government banned Amazon and Walmart Inc's (NYSE: WMT) Flipkart from these allegedly anti-competitive practices, and products disappeared from the companies' India websites.

But the relationship seemed to be on the mend yesterday, when some of those products appeared again after Amazon restructured its relationship with some of its top sellers. Still, the ties are tenuous at best, as thousands of products are still absent from the Amazon and Flipkart sites, which according to Bloomberg, together account for 70 percent of India's online retail market.


Did you know?

American employers created 304,000 jobs in January, far more than economists had forecast. Average hourly wages increased by 3.2% during the 12-months ending in January. (The Economist)



"It's offensive, it's unethical, and in this climate it's a very dumb thing to do."

— Matthew Telles, an Instacart courier, on the company's tipping policy. (New York Times)

In other news:

Airbnb goes into the transport business

The home sharing company hired veteran aviation executive Fred Reid to explore partnerships with airlines. (ABC News)

The maritime industry should unlock growth with Africa

Expanding trade could help reinvigorate the economies of many poor countries in Africa. (Hellenic Shipping News)

Lyft's new ‘Green Mode' lets riders request an EV

The Green Mode option launches in Seattle today, and Lyft will introduce it to other parts of the country later. (Elekrekl)

B.C. funds additional $300,000 for Vancouver-Seattle bullet train

The Washington state legislature had previously approved up to $1.2 million toward the study. (CTVNews)

Final Thoughts:

Truck driver Denis Palamarchuck is collateral damage in the battle over cannabis legalization. Last month Idaho state police arrested Palamarchuck for driving hemp across the state border, even though the federal government legalized hemp transport in December 2018.  Idaho arrested Palamarchuck on what amounts to a technicality; as outrage mounts, authorities may reverse their stance on a case that is unfolding as a classic tale of government overreach.

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Posted-In: Amazon cannabis industryCannabis Cryptocurrency News Global Markets General


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