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<ul class="summary-list"><li>Anthropic has emerged as one of the primary contenders in the AI arms race.</li><li>The company was founded by a group of former OpenAI employees.</li></ul>Founded by a group of <a target="_blank" class="" href="https://www.businessinsider.com/former-openai-employees-who-left-launch-vc-backed-ai-startups-2024-1">former OpenAI employees,</a> Anthropic has emerged as a <a target="_blank" class="" href="https://www.businessinsider.com/heres-ai-company-amazon-betting-billions-on-anthropic-2024-3">serious contender in the race for AI dominance.</a> The flagship product is <a target="_blank" rel="" href="https://www.businessinsider.com/ai-models-can-learn-deceptive-behaviors-anthropic-researchers-say-2024-1">Claude</a>, an AI chatbot that rivals <a target="_blank" rel="" href="https://www.businessinsider.com/everything-you-need-to-know-about-chat-gpt-2023-1">OpenAI's ChatGPT</a>.Anthropic has <a target="_blank" class="" href="https://www.businessinsider.com/openai-rivals-anthropic-perplexity-on-prowl-after-wave-exec-departures-2024-10">sought to position itself as the safer,</a> more stable alternative to <a target="_blank" class="" href="https://www.businessinsider.com/category/openai">OpenAI,</a> and a company that risk-averse Fortune 500 companies can feel comfortable doing business with. That differentiation has only become more relevant as <a target="_blank" class="" href="https://www.businessinsider.com/openai-implosion-investors-vcs-2024-9">OpenAI continues to be mired in chaos and infighting.</a>Anthropic has raised <a target="_blank" href="https://www.businessinsider.com/amazon-invests-4-billion-in-anthropic-2023-9">over $7 billion</a> over the past year from tech giants like Google, Amazon, and Salesforce and is reportedly raising a new round of funding that could value the company at as much as $40 billion, <a target="_blank" href="https://affiliate.insider.com?h=75da8b58b44035e03575c048e5e7b373edd291ccfea0018026509f4fae0f42b8&amp;postID=67055e480c43543ec7aec56d&amp;postSlug=here-are-the-executives-running-anthropic-right-now-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Fopenai-rival-anthropic-has-floated-40-billion-valuation-in-early-talks-about-new-funding">according to The Information.</a>Business Insider has put together a list of the most important people running Anthropic right now. The list is by no means exhaustive, but it includes thought leaders and researchers who are contributing knowledge to the understanding of machine learning, as well as the business people working to build Anthropic into an AI behemoth.Dario Amodei, Co-Founder and CEOBefore leaving to start Anthropic, <a target="_blank" class="" href="https://www.businessinsider.com/anthropic-ceo-cost-10-billion-train-ai-years-language-model-2024-4">Amodei</a> served as vice president of research at OpenAI where he led the development of breakthrough large language models like GPT-2 and GPT-3. His foundational research on reinforcement learning and scaling laws helped revolutionize the AI industry. Since its founding, Amodei has helped <a target="_blank" class="" href="https://www.businessinsider.com/anthropic-ceo-dario-amodei-universal-basic-income-ubi-ai-inequality-2024-6">establish Anthropic</a> as the safer, more business-friendly alternative to his former employer, OpenAI.Dario holds a Ph.D. in biophysics and computational neuroscience from Princeton University, where he was a Hertz Fellow. He completed a postdoctoral fellowship at the Stanford University School of Medicine, focusing on applying machine learning to biomedical data.Daniela Amodei, Co-Founder and PresidentAfter her career in international development, Amodei was in charge of risk management and compliance at Stripe before serving as vice president of safety and policy at OpenAI. She's <a target="_blank" class="" href="https://www.businessinsider.com/anthropic-cofounder-daniela-amodei-trust-safety-generative-artificial-intelligence-2023-4">been in the trenches</a> working to create sager, steerable, and reliable AI since the early days of this nascent industry.She, along with her brother Dario, was part of the team that left OpenAI with the goal of creating a more responsible AI company. Today, she oversees Anthropic's day-to-day operations and has been instrumental in shaping the company's defining ethos around safety and security.Jack Clark, Co-Founder and Head of PolicyClark made a <a target="_blank" class="" href="https://www.businessinsider.com/anthropic-cofounder-artificial-intelligence-newsletter-import-ai-2023-4">name for himself as a journalist at Bloomberg,</a> where he was quite possibly the world's first and, for a while only, neural networks reporter.He would go on to serve as policy director at OpenAI and now leads a team at Anthropic that produces research into AI bias and persuasion and conducts critical red-teaming that pushes the boundaries of understanding around AI-related risk. He has proven himself to be one of AI's most eloquent thought leaders, and his newsletter, Import AI, has become required reading for anyone interested in tackling big questions in machine learning.Jared Kaplan, Co-Founder and Chief Science OfficerKaplan, who boasts a PhD from Harvard, spent 15 years as a theoretical physicist in academia and continues to lecture on deep learning at Johns Hopkins University. While at OpenAI, he helped create GPT-3 and Codex, and his revolutionary work on AI scaling laws has been foundational for the entire AI industry.Kaplan helped pioneer Constitutional AI, an approach championed by Anthropic that aims to create AI systems that are constrained by and aligned with a set of predetermined principles.Chris Olah, Co-Founder and Research Lead, Mechanistic InterpretabilityOlah is a researcher in the field of mechanistic interpretability, which is essentially the science of translating neural networks into algorithms that are useful to humans. Olah's research focuses on mapping out the artificial "neurons" that are part of AI models. His team achieved a significant milestone earlier this year by successfully identifying distinct neuron clusters within Anthropic's most advanced models that are associated with specific concepts and tasks, such as detecting bias or identifying fraudulent emails.By selectively activating or deactivating these neuron groups, the team demonstrated the ability to modulate the model's behavior.Sam McCandlish, Co-Founder and Chief Technology OfficerMcCandlish oversees Anthropic's Large Language Model (LLM) Organization, which encompasses the Training, Inference, and Core Resources divisions. He also serves as the company's Responsible Scaling Officer, helping design and implement Anthropic's <a target="_blank" class="" href="https://www.anthropic.com/news/anthropics-responsible-scaling-policy">responsible scaling policy</a>.McCandlish was a former research lead at OpenAI, where he spearheaded AI Safety initiatives and pioneered scaling laws that influenced technological breakthroughs like GPT-3. He holds a Ph.D. in Theoretical Physics from Stanford University, specializing in quantum gravity and tensor networks, and an MS in Physics from Brandeis University, where he explored active matter to quantum field theory.Tom Brown, Co-Founder and Head of Core ResourcesBrown was part of the technical staff at OpenAI and Google DeepMind, and, like Anthropic's other founders, his research, particularly his work on how computational power influences model performance, has helped lay the groundwork for the entire AI industry.At Anthropic, Brown is focused on the compute side of LLM development, overseeing the company's use of scarce, valuable GPUs and leading its strategic partnerships with cloud and chip providers. Brown is also an alum of the legendary tech incubator <a target="_blank" class="" href="https://www.businessinsider.com/y-combinator-startups-application-review-demo-day-yc-w22-2022-12">Y Combinator.</a>Krishna Rao, Chief Financial OfficerAs any emerging AI company can attest, conducting groundbreaking research isn't enough. Anthropic, like most of its competitors, is also tackling the challenge of building a viable, profitable global business. Rao, who was<a target="_blank" class="" href="https://www.anthropic.com/news/krishna-rao-joins-anthropic"> hired in May</a> as the company's first CFO, is helping to formulate Anthropic's financial strategy during a period of explosive growth.He cut his teeth working at private equity giant Blackstone and management consultant Bain &amp; Company before becoming head of business development at Airbnb. In that role, he helped the company raise billions in private capital and steered the company through its <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-confidentially-filed-for-an-initial-public-offering-2020-8">high-profile IPO.</a>Mike Krieger, Chief Product OfficerA native of São Paulo, Krieger <a target="_blank" href="https://www.anthropic.com/news/mike-krieger-joins-anthropic">joined Anthropic</a> as Chief Product Officer in May 2024. He currently leads the global product team, collaborating closely with customers across industries to shape the product vision and strategy for Anthropic's flagship model, Claude.In this role, he's building deep relationships with users and helping to turn Anthropic's research into a mass-market product.He is a cofounder of Instagram and served as its CTO, where he grew the engineering organization to more than 450 employees across the company's offices in Menlo Park, San Francisco, and New York.Brian Israel, General CounselAs generative AI opens up new avenues for technological innovation, it's also raising fraught questions about authenticity, creativity, and some of the core assumptions of our legal system.Like many of its competitors, Anthropic is deeply enmeshed in these questions, whether that's helping to guide the creation of new legal frameworks or <a target="_blank" class="" href="https://www.reuters.com/technology/artificial-intelligence/authors-sue-anthropic-copyright-infringement-over-ai-training-2024-08-20/">facing lawsuits</a> that could determine to future of the nascent AI industry. Israel is the point person helping Anthropic navigate this legal landscape. Before joining Anthropic, Brian spent nearly a decade in the US government, from the State Department to NASA, working to address the legal challenges created by emerging technologies.Sam Bowman, AlignmentBowman co-leads Anthropic's alignment team along with Jan Leike, a safety researcher <a target="_blank" class="" href="https://www.businessinsider.com/openai-jan-leike-joins-rival-anthropic-days-after-leaving-2024-5">who recently left OpenAI.</a> The team is responsible for confronting some of the thorniest questions associated with the development of advanced AI models.It works on forecasting when AI models will develop potentially dangerous abilities like deception or scheming and how humans will be able to tell when they do. The alignment team is also developing evaluations that can flag when a model reaches a concerning level of skill and reliable techniques for controlling them when they get out of line. These capabilities are essential to Anthropic's positioning of itself as the safer AI company.

Anthropic's power players: Here are the 11 leaders helping shape the future of the Amazon-backed AI company

After a full day of meetings at Julie, a startup that sells a morning-after pill, CEO Amanda E/J Morrison jumped a flight from New York to Boston and headed to a small, private college, where a trivia night awaited her. Dozens of students shuffled into a classroom with plates of chicken tenders, Texas toast, and bright blue boxes of the emergency contraceptive.Morrison had worked with the Planned Parenthood Generation Action club at Suffolk University to sponsor the event, part of Julie's efforts to win a new generation of consumers. However, she had another, more pressing reason for being there. Julie is doing more campus events to clear up some of the confusion about emergency contraception — namely, that it isn't medication abortion.Standing at the head of the classroom, Morrison read off a projector screen, "Emergency contraceptives like Julie are legal in how many states? 25, 48, 50, 37." Students tapped their answers into a quiz app. "It's 37," Lily, a spirited sophomore, whispered to her teammates.In a minute, the correct answer appeared on screen, and the quiet chatter rose to a clamor. Half the teams said 37 states."Fifty states, guys. It's everywhere," Morrison said.When asked why she said 37, Lily said, "Just the way things are going."In states that outlaw abortion, some patients and politicians worry that contraception could be in legal jeopardy, too. There's no federal law preserving access to birth control, rather, a patchwork of state laws and court decisions holding it in place. Another Trump term <a target="_blank" href="https://www.politico.com/news/2024/05/29/trump-birth-control-contraception-00159555">could change that</a>.For Julie, "that's the million dollar question of this election," Morrison said.<div type="image" title="TK" height="2000" width="2667" msid="114460252" hostid="261" sizebytes="193282"></div>"We're not worried about some big ban happening in the first hundred days. But how those decisions trickle down — what is presented in Congress as a bill, how the Supreme Court reacts, what trickles down to the states — becomes a real secondary concern," she said.Founders of women's health startups feel doubly invested in this election, one of the closest presidential races of the century. Half a dozen founders and investors of women's health companies, all women, told Business Insider that if Vice President Kamala Harris wins, it's business as usual. They said another Trump victory creates uncertainty for reproductive health startups, from period trackers to online abortion clinics to embryo banks.<div type="image" title="TK" height="1610" width="2147" msid="114460254" hostid="261" sizebytes="109206"></div>While Harris's presidential campaign has been marked by unrelenting support for reproductive healthcare, including contraception and abortions, Trump's position has been a moving target.The former president suggested <a target="_blank" href="https://www.politico.com/news/2024/05/29/trump-birth-control-contraception-00159555">in May</a> that he was "looking at" restrictions on birth control, then walked that position back in a social media post later that day. During the September presidential debate, he called himself a "leader" on IVF, a move that <a target="_blank" href="https://www.politico.com/news/2024/09/12/trump-ivf-gop-roe-abortion-00178760">angered</a> parts of his base that have sought to restrict fertility treatments. He said <a target="_blank" href="https://www.cbsnews.com/news/donald-trump-says-he-would-veto-federal-abortion-ban/">in October</a> that he'd veto a national abortion ban after deflecting the question for months but would support states ordaining their own abortion bans.Trump's waffling on reproductive rights has put founders of women's health startups on notice. "It is one of the major issues that we're discussing and that our CEOs are focused on — how to continue to provide care to women, especially women of childbearing age," said Trish Costello, founder of Portfolia, an investing platform that pools money from female accredited investors.The day after the presidential debate, Mika Eddy was vibrating with the weight of the election. The race's outcome could drastically change reproductive rights, foreign policy, gun safety, and climate law — all issues close to Eddy, a 35-year-old Californian and mother of two.But Eddy also has skin in the game as the chief executive officer of Malama Health, a startup helping women with gestational diabetes access better care. Its doula network assists patients on Medicaid with applying for benefits such as diabetes-friendly meals and medical transport.Eddy worries that if Trump wins, he would restrict access to the coverage and benefits that her users rely on, weakening one of Malama Health's key services."There is this common misperception that, 'we're in California, we're in a liberal state, and so we're safe.' And I don't think that's the case," Eddy said.For some founders of women's health startups, this election is more than a political contest; it has ramifications for their livelihoods. With so much at stake, they're planning how to handle a scenario where states or courts might impose more limits on reproductive rights.<div type="image" title="US Vice President Kamala Harris taking pictures with some young teen girls." height="3000" width="4000" msid="114460257" hostid="261" sizebytes="755478"></div><a target="_blank" class="" href="https://www.businessinsider.com/abortion-telemedicine-startup-hey-jane-roe-v-wade-2022-10">Hey Jane</a> is a telehealth startup that connects patients to medical providers who offer online appointments and delivers abortion pills to their doorsteps. A year after the Supreme Court overruled Roe v. Wade, ending the constitutional right to abortion, Hey Jane started selling birth control and treatments for urinary tract infections, yeast infections, and herpes, both oral and genital. The new products cushion the business against a "plan E" scenario of a national abortion ban, said Carli Sapir, a Hey Jane investor and founding partner of Amboy Ventures."We're thinking about how to make sure those other verticals are in a good place to continue carrying the company forward," said Sapir.This time last year, one of Hey Jane's rivals, Choix, shut down <a target="_blank" class="" href="https://www.businessinsider.com/vcs-backing-online-abortion-sites-say-its-good-business-2021-9">after three years in service</a>. The company said in a <a target="_blank" class="" href="https://finance.yahoo.com/news/choix-closes-virtual-doors-launches-130300919.html">press release</a> that "the stigma and politics surrounding abortion care posed significant fundraising challenges." It raised a $1 million seed round in 2022.While direct providers of abortion, like Hey Jane, could see major restrictions or shutdowns to their core businesses if Trump returns to the White House, a wider range of companies expect to feel the ripple effects. Startups that seem removed from the front lines, such as those involved with period tracking and fertility treatments, are also preparing for potential challenges.<div type="image" title="Then-President Donald Trump addresses the anti-abortion &quot;March for Life&quot;" height="750" width="1000" msid="114460247" hostid="261" sizebytes="53678"></div>If a national abortion ban were to occur, apps like Flo Health or Clue might face increased scrutiny, according to <a target="_blank" href="https://www.businessinsider.com/why-lux-capital-deena-shakir-wrote-childrens-book-2024-9">Deena Shakir</a>, a general partner at Lux Capital. These apps track when women have their periods and when they miss them. In today's post-Roe America, privacy experts worry that such data could be used to suggest that someone has had or is thinking about having an abortion, potentially putting women at risk of prosecution in certain states.The stakes could be equally high for companies involved with fertility treatments.The demand for services like in vitro fertilization, or IVF, and surrogacy has been climbing for years as people have kids later in life and infertility rates increase. That's birthed a <a target="_blank" href="https://www.businessinsider.com/fertility-startups-booming-despite-market-downturn-2023-6">global fertility market</a> that includes companies that operate clinics to provide services like egg freezing and IVF, companies that run labs and tests, and firms that help people pay for the procedures.However, the industry's future is uncertain following attacks on abortion access. The end of Roe v. Wade opened up the legal terrain for states to interfere with access to other reproductive care, said Lauren Berson Sugarman, founder and chief executive officer of Conceive, a startup that offers personalized fertility guidance, including text support from nurses and peer groups.In Alabama, the state Supreme Court ruled that frozen embryos should be considered children. That put patients and fertility clinics on edge that they could be criminally charged for destroying extra embryos. A handful of Alabama clinics paused IVF treatments while patients throughout the South began moving their embryos to jurisdictions with more stable legal protections."We see a lot of patients come to us and say, should I move my embryos out of a red state? Because what happens if they come after IVF?" said Berson Sugarman.The push for "embryo rights" could have wide-reaching repercussions for startups like Maven Clinic or Carrot Fertility, which offer fertility benefits for employers, and TMRW Life Sciences, a biotech company creating robots for the safe storage of frozen sperm, eggs, and embryos.Moreover, it could influence the type of research that startups conduct and where. Alice Zheng, a principal at women's health investor RH Capital, explains how the shifting legal landscape might affect companies like Vitra Labs. As a biotech startup working on developing eggs from stem cells for IVF, "they're doing really cutting-edge research for fertility, but they need to think very carefully about where they set up shop," Zheng said. "Some of their research might involve certain types of tissue, which is more closely scrutinized in some areas than others."<div type="image" title="TK" height="2000" width="2667" msid="114460250" hostid="261" sizebytes="243576"></div>Two years ago, in the hours after the Supreme Court ended the constitutional right to an abortion, Morrison's phone started ringing and didn't stop. Investors wanted to know if the ruling would kill Julie's launch in Walmart stores that fall. Job candidates wondered if the company would still exist in six months. Morrison's mom called, concerned for her daughter's future."For probably two weeks straight, I was just doing reassurance calls," Morrison said.While emergency contraception is not the abortion bill and is currently legal in all 50 states, it is continuously confused with the abortion pill, which can have damaging consequences. In June, the medical journal JAMA Network Open published a <a target="_blank" href="https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2820370?%20utm_source=For_The_Media">study</a> that found retail pharmacy fills of Plan B, a leading morning-after pill brand, fell by 65% in states with near-total abortion bans the year after the Dobbs decision, partly due to clinic closures and confusion about its legal status.That confusion could threaten Julie's sales, and puts the onus of the company to better educate consumers. It sponsors events like trivia nights and sorority house brunches. It has enlisted TikTok influencers to share videos of their drugstore hauls showing how easy it is to buy Julie. In one video, a young woman going back-to-school shopping walks off with a two-count pack of the emergency contraceptive pill. The caption reads, "double majors, not double strollers."Other startups are urging consumers to fight for reproductive rights at the polls. Eddy's Malama Health has reminders to register to vote in its app and will tell users where their nearest polling station is closer to election day. The company asks for their ZIP codes during onboarding, Eddy explained."When you have a baby, you're like, 'I want to vote, but I don't know where to go,'" Eddy said. She hopes the emails will get more pregnant women and new moms to head to the polls. Eddy added that the emails won't support a candidate and are meant as a "nonpartisan resource."<div type="image" title="TK" height="2000" width="2667" msid="114460255" hostid="261" sizebytes="192114"></div>Julie's content isn't political, either. It's not trying to change any minds about abortion rights. The goal is simply to spread awareness among young adults that emergency contraception helps prevent pregnancy, not end it. This way, Morrison said, a woman who is anti-abortion and has unprotected sex can feel confident taking Julie knowing that she isn't compromising her abortion stance.It was past 9 o'clock on a weekday, and the competition at trivia night was heating up. Students in teams of two or three screamed with delight as they watched their names climb the leaderboard. They competed to win prizes like sex toys and T-shirts with the phrase, "A Better Morning After.""Morning-after pills end pregnancy. True or false," the club president called out.Thirty seconds later, the screen showed that every team had answered correctly.Morrison pumped both fists in the air, beaming her approval.<a target="_blank" rel="" href="https://www.businessinsider.com/author/melia-russell">Melia Russell</a> is a senior correspondent at Insider covering startups and venture capital. She can be reached via the encrypted messaging app Signal at +1 603-913-3085 and email at <a target="_blank" href="mailto:mrussell@businessinsider.com">mrussell@businessinsider.com</a>.<a target="_blank" class="" href="https://www.businessinsider.com/author/rebecca-torrence">Rebecca Torrence</a> is a correspondent at Business Insider writing about healthcare startups and venture capital. Send her an email at <a target="_blank" class="" href="mailto:rtorrence@businessinsider.com">rtorrence@businessinsider.com</a>.

'The million-dollar question of this election': Women's health startups are confronting a shifting legal landscape   

<ul class="summary-list"><li>Walmart and Amazon are facing legal trouble over firing workers after absences.</li><li>A California law firm has filed seven wrongful-termination suits against the companies.</li></ul>The megacorporations <a target="_blank" href="https://www.businessinsider.com/category/walmart">Walmart</a> and <a target="_blank" href="https://www.businessinsider.com/category/amazon">Amazon</a> are facing legal trouble over the <a target="_blank" href="https://www.businessinsider.com/walmart-workers-reveal-what-its-like-work-largest-retailer-2021-5">points-based attendance systems</a> they use to track worker absences and, in turn, fire employees, lawyers who have filed lawsuits against the retail titans say.Since November 2022, one California law firm, West Coast Trial Lawyers, has filed three wrongful-termination lawsuits against Walmart and four against Amazon.In the lawsuits, fired workers accuse the companies of violating their employment rights by terminating them after they took legally protected time for sick, medical, or pregnancy-related leave.Attorneys with West Coast Trial Lawyers told Business Insider that most of those cases, some of which allege disability discrimination and retaliation, are based on the points-based attendance systems that Walmart and Amazon use — and that similar complaints from fired workers have continued to roll in in recent months."A lot of the larger employers like Walmart and Amazon have started to use this points system with regards to absences," Ron Zambrano, the firm's employment litigation chair, said.Zambrano is also suing the musicians <a target="_blank" href="https://www.businessinsider.com/lizzo-former-dancers-accuse-body-shaming-sexual-harassment-2023-8">Lizzo</a> and <a target="_blank" href="https://www.businessinsider.com/former-staff-donda-academy-lawsuit-kanye-west-violation-safety-conditions-2023-7">Ye</a>, formerly known as Kanye West, on behalf of former employees.<h2>Employees can be fired if they rack up enough points in a certain timeframe</h2>Zambrano and a fellow attorney with West Coast Trial Lawyers, Nick Yasman, said that under both Amazon and Walmart's points-based attendance policies, workers could be terminated once they racked up a certain number of points in a specific time period. Being late or leaving early could cost an employee a fraction of a point, the attorneys said.Walmart wouldn't provide details on its points-based attendance system to BI. But Yasman said that in a 2023 deposition stemming from one of the wrongful-termination lawsuits against the company, a "people lead," or human-resources rep, for the retail giant said Walmart used a five-point system, and employees could be subject to termination if they accrued five points in a rolling six-month period.Kelly Hellbusch, a spokesperson for Walmart, told BI in a statement that the company "offers full- and part-time associates paid time off and protected paid time off to use for just about anything including when they are sick and miss work as well as accommodations and leave of absence options.""As a trusted and experienced employer, we have knowledgeable people partners, helpful resources and tools for associates and effective processes in place to comply with laws as well as our own policies," Hellbusch said.<div type="image" title="A customer loading shopping into the back of a car in the parking lot of a Walmart store" height="3419" width="5129" msid="107883488" hostid="261"></div>Regarding the three recent wrongful-termination lawsuits that West Coast Trial Lawyers had filed against Walmart, Hellbusch said, "We will continue to defend the company against this litigation."Similar to Walmart's policy, Amazon uses a points-based attendance system, and according to the company, employees can land in hot water if they hit a certain number of points.Amazon told BI that managers would be alerted if workers accumulated eight points in a rolling 60-day period and were "required" to reach out to their employees "to better understand the situation." Amazon wouldn't clarify whether an employee hitting eight points would be grounds for termination.Sam Stephenson, an Amazon spokesperson, told BI in a statement that the company's <a target="_blank" href="https://www.businessinsider.com/elizabeth-warren-bernie-sanders-aoc-amazon-absence-policy-investigation-2022-3">points-based attendance policy</a> was used "mostly" for part-time employees who worked flexible schedules at the company's operations facilities. He said the policy was "enforced when an employee provides little to no notice for not showing up to work."Stephenson said the points system had human oversight, and the company would work with its employees if they were dealing with an emergency or any unforeseen circumstances."When an employee has an unexpected scheduling issue, we work with them directly to provide options and solutions," Stephenson said, adding that employees had "options to use unpaid time, vacation time, and paid personal time to take time off — for planned or unexpected events."A June 2020 report by the worker-advocacy group <a target="_blank" href="https://www.abetterbalance.org/misled-misinformed/">A Better Balance</a> found that an estimated 18 million workers across 66 US employers were affected by points-based or so-called "no-fault" attendance policies.Zambrano said many companies, including midsize ones, had started to implement a points-based system to track lateness and absences.But he said the problem was that the heavily automated points-based attendance systems used by companies such as Walmart and Amazon "make a lot of mistakes" and seemingly had issues filtering "an absence that is 'unexcused' or an absence that is protected" by law."This stuff is happening very routinely, and people are just being laid off just because they hit these points, and there's no one fixing it," Zambrano said. "It is absolutely crazy."Yasman said that when it came to Amazon and Walmart, "these policies were created and are applied at a national level, so they do not, on their face, incorporate, reference, or consider more restrictive state laws, most notably in California and New York."<h2>The lawyers say the firm has been getting a surge of calls from fired workers</h2>Zambrano said West Coast Trial Lawyers has been getting multiple calls a week from people reporting they were wrongly fired from their jobs after racking up too many points for absences, even though their leave should have been protected or was already cleared with managers."There's been a surge in the last 18 months of these types of calls coming in," Zambrano said, adding that many calls had been from people who identified themselves as former Amazon or Walmart employees."Half of them say that the HR department or the direct supervisors will tell them, 'We messed up, you should not have been fired, we will fix this,' and they don't fix it," Zambrano said.Yasman, who's litigating three of these types of cases against Walmart and two cases against Amazon, explained that the "common theme" in the lawsuits was that managers "either approved or were aware of my clients' leaves/accommodations" and "just failed to properly input the data into the automated system, so the automated system terminated my clients once they hit the 'five-point' mark."Amazon disputed the description of its points-based attendance system as "automated.""The attendance system works very similar to a standard time clock system," Stephenson, Amazon's spokesperson, told BI. "To say there is total automation to the system is simply inaccurate. There are humans behind every system, and if employees have questions they have access to onsite HR managers or they get in contact with HR" via a company app, he said.<h2>One lawsuit against Amazon alleges a worker was fired after taking medical leave</h2>A former Amazon ship-dock worker, Patricia Caputo, was fired from the e-commerce behemoth in December 2022 after she needed an emergency colonoscopy and took a short medical leave, one of the lawsuits filed against Amazon by West Coast Trial Lawyers says."It just happened — no warning, no nothing. I just got a phone call, 'You're fired,' from some random person at Amazon. I couldn't believe it," Caputo, 52, told BI in a recent interview.Caputo, who says in the lawsuit she suffers from a physical disability, told BI her medical leave was previously approved by her manager but apparently wasn't correctly inputted into the company's internal system, resulting in her termination.<div type="image" title="Amazon logo" height="1392" width="2000" msid="107883491" hostid="261"></div>The lawsuit, filed in August in California's Kern County Superior Court, says Caputo initially requested four days off from work to recover from the procedure, and she planned to return on December 11, 2022. Caputo's doctor advised she take an extended medical leave through December 13 shortly after the procedure was done on December 8, the lawsuit says.On the day of the procedure, Caputo notified Amazon's employee-resource center, and she was told by a representative that her medical-leave extension was approved, the lawsuit says. But the next day, Amazon called Caputo and "informed her that her employment" with the company "was terminated," the lawsuit says.Caputo wasn't given a reason for her firing and later that day received a direct deposit for her final paycheck from Amazon, the lawsuit says."It was terrible. It was devastating to me," Caputo told BI. "There was no one I could turn to or talk to about it. They immediately cut my mobile app off from me having access to it, so I couldn't even check back with anything that was going on.""They cut me off," Caputo said. "There was no one I could talk to about their mistake."The lawsuit says Caputo believes she was fired "because of her physical disability and for seeking the reasonable accommodation of taking medically recommended days-off of work."In another lawsuit filed against Amazon, a former warehouse associate, Mekaliah Torres, says she was hired in June and disclosed she was pregnant during her registration. Torres was told to make a request for accommodations prior to her first day of work, the lawsuit, filed in California's Fresno County Superior Court, says.Torres told the company she wouldn't be able to lift more than 20 pounds, but when she began working at Amazon the next month, she had to lift objects weighing up to 80 pounds, the lawsuit says. Torres informed her manager that her pregnancy-related restrictions were being violated after about four hours of work, the lawsuit says.The manager told her that if she didn't feel safe, she could go home, so she did, the lawsuit says. The lawsuit alleges that after more than two weeks of back-and-forth about her pregnancy accommodations, Torres received a termination letter falsely citing "voluntary resignation due to job abandonment.""Defendant's adverse actions, including, but not limited to, Plaintiff's termination, and failure to accommodate, were at least in part, in retaliation for Plaintiff informing Defendant that she was pregnant, and due to her pregnancy-related restrictions," the lawsuit says.In one of the lawsuits filed against Walmart, a former employee, David Wagner, says he was told he was fired in July 2022 because of attendance issues as he was a "no show" when he had COVID-19. The lawsuit, filed in California's Riverside County Superior Court, alleges that on the day Wagner, a former front-end host, tested positive, he continuously called Walmart to inform the retail giant of his condition but got no response.When Wagner reached out to a coworker about it, he was told he had two paid weeks off to recover, the lawsuit says, adding that Wagner called in almost every day to speak with someone at Walmart regarding his condition and return-to-work date.The lawsuit says Wagner never received pay for the days he was out sick, and when he finally returned to work on July 21, he was informed he had been terminated days earlier, on July 15.In another lawsuit filed against Walmart last month in California's Sacramento County Superior Court, a former employee, Larreon Murphy, says he was fired in November for "excessive absences" after he got COVID-19 and needed time off and after he received clearance by a manager to come in for his shift late on multiple dates so he could pick up his children from after-school programs.Murphy, the lawsuit says, believes he was terminated "in retaliation for his positive COVID-19 test result and subsequent need for a short medical leave."A Walmart manager later admitted in a recorded phone call to Murphy that he was "wrongfully terminated," the lawsuit says. It says Murphy was then offered a "reinstatement" of his job on a different shift, but Murphy explained the new shift conflicted with another job he had.The lawsuit says the manager emailed Murphy "in a bad faith attempt to reinstate" his employment "without his consent or approval," prompting Murphy to respond that he never agreed to return to Walmart. A December separation letter said Murphy was reinstated and that he later submitted a resignation, the lawsuit says."Plaintiff is informed and believes Walmart has adopted a national policy regarding handling wrongful terminations associated with disability leaves that formally calls for fraudulent reinstatement of all employees who have been unlawfully terminated," the lawsuit alleges.<h2>Yasman said the policies were designed 'to keep your sick, disabled, pregnant people out of work'</h2>Yasman told BI his law firm hoped to take these cases to trial to win punitive damages for the workers."We're confident the 'point systems' were created with malicious and oppressive intent," Yasman said.Yasman said the lawsuits filed by West Coast Trial Lawyers against Walmart and Amazon didn't specifically mention the points-based attendance systems even though five of the suits stemmed from these policies because they were typically part of the companies' defense to their lawsuits."Their general position is that a policy that applies universally and equally to all employees cannot possibly discriminate against anyone," Yasman explained.The attorney also said he believed that the "almost total automation of both companies' human-resources dealings is extremely nefarious.""Because by most metrics, they're the world's two biggest companies," Yasman said of Amazon and Walmart, and "because the size and influence of the two companies will likely set a precedent and predict trends for the future of HR operations of all businesses.""I do suspect the policies were designed in order to keep your sick, disabled, pregnant people out of work," he added.<h2>Millions of workers are affected by similar attendance policies</h2>The 2020 report by A Better Balance found millions of US workers were affected by points-based or "no-fault" attendance policies used by many major companies. Walmart was among the 66 companies included in the report."'No fault' attendance policies, as they are often called, are used by some of the nation's largest companies," the report read, adding that they were used "to encourage workers to show up for their shifts and penalize them when they do not.""Yet too frequently, these attendance policies are used to infringe on workers' rights by punishing them with 'points' or 'occurrences' for absences that are legally protected, including time off for serious medical needs," the report continued.Elizabeth Gedmark, an attorney and the vice president of A Better Balance, told BI that the group had been fighting the "abusive" policies for years."I have concerns that it is a growing trend, especially because of the increased use of technology," Gedmark said. "The issue is that if a company is not paying attention to how their automatic system is working or their policies — and often it can even be intentional — then they may give someone points or a demerit basically for a lawfully protected absence.""When you see these types of policies in some of the country's biggest employers," she continued, "you just have to pay attention to the fact that a lot of these employers are employing low-wage workers or workers who are in vulnerable positions and may not have the bargaining power to ask for their rights."

Walmart and Amazon face legal trouble for using a points system to track and fire employees over absences: lawyers

<ul><li><keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> has said that it was denied the Rights of First Refusal for the deal with Future Group.</li><li>In August, the Mukesh Ambani-led Reliance had acquired Future Group’s assets by way of a ‘slump sale’.</li><li>Amazon in 2019 had picked up a 49% stake in <keyword id="44950" type="PERSON" weightage="20" keywordseo="Kishore-Biyani">Kishore Biyani</keyword>’s Future Group’s – Future Coupons for ₹1,431 crore. </li></ul>Global e-commerce giant Amazon has sent a legal notice to Future Coupons over Future Group’s deal with Reliance. Amazon has <a href="https://www.timesnownews.com/business-economy/companies/article/amazon-sends-legal-notice-to-future-group-for-alleged-breach-rofl-rights-in-reliance-deal/663768">said that </a>it was denied the Rights of First Refusal for the deal with Future Group. In August, the Mukesh Ambani-led Reliance had acquired Future Group’s assets by way of a ‘slump sale’. However, even then speculations were rife about what happens to Amazon’s previous partnership with Future Coupons. Amazon in 2019 had picked up a 49% stake in Kishore Biyani’s Future Group’s – Future Coupons for ₹1,431 crore. As part of the agreement, Amazon had been granted a call option. This option allows Amazon to acquire all or part of the promoters' shareholding in <keyword id="375475" type="COMPANY" weightage="20" keywordseo="Future-Retail">Future Retail</keyword> and can be exercised in three or ten years. “We have initiated steps to enforce our contractual rights. As the matter is sub-judice, we can’t provide details,” Amazon said in a statement. With the matter now having taken a legal turn, Amazon could pose a major hurdle in the completion of the Reliance and Future Group deal. Earlier, it was <a href="https://www.financialexpress.com/industry/amazon-to-buy-reliance-retail-stake-ril-may-sell-up-to-40-in-retail-unit-to-jeff-bezos-firm/2079667/">reported </a>by several publications that Amazon was in talks with Reliance for a 40% stake in Ambani’s retail venture. Even though the deal didn’t go ahead, Amazon has been strengthening its foothold in India. Amazon had recently received ₹1,125 crore from its Singapore-registered parent entity. Additionally, Amazon and Samara Capital are investing ₹275 crore ($37.5 million) into MORE – the retail chain the duo had acquired from Kumar Mangalam Birla’s Aditya Birla Group, according to filings sourced by financial data platform <a href="https://paper.vc/amazon-and-samara-inject-cash-into-more/">paper.vc</a>. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/private-companies-in-india-can-now-convert-permanent-jobs-into-fixed-term-contracts/articleshow/78546306.cms">Private companies in India can now convert permanent jobs into fixed-term contracts — without offering severance pay or a fixed tenure</a>

Amazon fights for its ‘rights’ in the Future Retail-Reliance deal – sends legal notice to the Kishore Biyani Group

<ul><li><keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> has reportedly alleged that <keyword id="375475" type="General" weightage="20" keywordseo="future-retail" source="Orion">Future Retail</keyword> transferred $939 million as a capital advance to a company controlled by the founder Kishore Biyani.</li><li>Another $575 million was transferred into an unusual rental security deposit and advances were made to suppliers.</li><li><keyword id="23644" type="General" weightage="20" keywordseo="Future" source="Orion">Future</keyword> Retail says that the transactions were a part of public disclosures made by the company as a part of standard governance practices.</li></ul>Amazon, which is trying to prevent Reliance Industries from taking over the retail assets of Kishore Biyani-led <keyword id="44949" type="General" weightage="20" keywordseo="future-group" source="Orion">Future Group</keyword>, has reportedly made a fresh set of allegations against Future Retail. The ecommerce giant has reportedly accused Future Retail of diverting $1.5 billion from its account to other companies. As per a report by Bloomberg, Amazon has alleged that Future Retail transferred 70 billion Indian rupees, which is close to $939 million at current conversion rate, in the financial year March 2020 as a capital advance to a company controlled by the founder Kishore Biyani. This was a payment for the goods and services purchased by the related firm. Future Retail said that the transactions were a part of public disclosures made by the company as a part of standard governance practices. There is nothing new that is being brought to notice here, “except for false speculations being created out of selective excerpts,” the company’s representative told Bloomberg. The ecommerce giant has written, as per the report, to Indian finance minister Nirmala Sitharaman, Reserve Bank of India (RBI) governor Shaktikanta Das, market regulator Securities and Exchange Board of India (SEBI) and several other authorities, seeking an investigation into Future Retail. The copy of the letter was<a href="https://www.bloomberg.com/news/articles/2021-11-25/amazon-alleges-1-5-billion-diverted-from-indebted-future-retail"> seen </a>by Bloomberg, which first reported the development. Business Insider has shared a detailed list of questions to Amazon and Future Retail. The copy would be updated if and when they respond. Amazon has also alleged, as per the Bloomberg report, that Future Retail created an unusual rental security deposit and made advances worth 43 billion ($575 million, at current conversion rate) Indian rupees to suppliers in the same year even though its business had slumped and it was shutting down stores. “Significant amounts may have been diverted from Future Retail…,” Amazon reportedly said, adding that a part of these transactions can help Future Retail immediately repay the outstanding debt owed to banks and creditors. The legal battle between Amazon and Future Retail dates back to August 2020, after Mukesh Ambani-led Reliance Retail agreed to buy Future Group’s retail, wholesale and warehousing assets for ₹24,713 crore. Amazon — which held about 3% stake in Future Retail through its 49% shareholding in Future Coupon — objected to the deal, saying that it had barred Future Group from getting into any retail agreement with 11 companies, including Reliance. The <a href="https://www.businessinsider.in/retail/news/amazon-wins-supreme-court-case-against-mukesh-ambani-reliance-retail-and-kishore-biyanis-future-group/articleshow/85092072.cms">Supreme Court of India in August</a> upheld the emergency award given to Amazon by Singapore International Arbitration Centre (SIAC), which considered the Future and Reliance deal invalid. The case is still pending before India’s Supreme Court. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/foreign-investors-have-pulled-out-nearly-7-billion-in-the-last-two-months-and-over-12-billion-since-april-this-year/articleshow/87927351.cms" data-type="tilCustomLink">Foreign investors have pulled out nearly $7 billion in the last two months, and over $12 billion since April this year</a> <a href="https://www.businessinsider.in/stock-market/news/foreign-investors-have-pulled-out-nearly-7-billion-in-the-last-two-months-and-over-12-billion-since-april-this-year/articleshow/87927351.cms" data-type="tilCustomLink">From Nykaa to Cipla to 3i infotech — these are some of the themes the market is betting on amid a sell-off</a> <a href="https://www.businessinsider.in/stock-market/news/pvr-inox-mainland-china-barbeque-nations-share-price-falls-due-to-new-covid-19-variant/articleshow/87925164.cms" data-type="tilCustomLink" style="">Shares of PVR, INOX, Burger King, Barbeque Nation tumble as investors panic over the new COVID-19 variant</a>

Future Retail denies Amazon’s allegation that it diverted $1.5 billion to other businesses

Market regulator SEBI gave a go-ahead on Wednesday to <keyword id="44949" type="CITY" weightage="20" keywordseo="Future-group">Future Group</keyword>'s scheme of arrangement and sale of assets to <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword>, based on which the Bombay Stock Exchange also granted its "no adverse observation" report to the Rs 24,713-crore deal. Amazon had written several letters to the SEBI and other regulatory agencies to suspend their review of the deal and not grant it a no objection certification on ground that its challenge to the agreement was before the Delhi High Court. The Securities and Exchange Board of India allowed the deal with some riders, five months after it was announced last August. While seeking shareholders or the National Company Law Tribunal approval, the SEBI has asked Future Group to specifically mention the litigation pending before the Delhi High Court and arbitration proceedings by the e-commerce major Amazon contesting the deal, the Bombay Stock Exchange stated in its observation letter. The BSE has also held that SEBI's go-ahead on the draft scheme of arrangement would be subject to the outcome of these proceedings. "It is observed that there are certain ongoing litigations/arbitration/legal proceedings against the draft scheme," the SEBI said. "In view of the same, the company is advised that these comments of SEBI on the draft scheme of arrangement are subject to the outcome of any of the ongoing litigations/arbitration/legal proceeding involving the draft scheme and/or the decision by any competent authority/competent court in this regard," it said. Commenting on the development, a Amazon spokesperson said: "The letters issued by BSE &amp; NSE clearly state that comments of SEBI on the "draft scheme of arrangement" (proposed transaction) are subject to the outcome of the ongoing arbitration and any other legal proceedings. We will continue to pursue our legal remedies to enforce our rights." The SEBI has directed that Future Group shall ensure that the details of the complaints made by Amazon.com NV Investment Holdings LLC and submission of its group firm <keyword id="375475" type="COMPANY" weightage="20" keywordseo="Future-Retail">Future Retail</keyword>. The market regulator directed Future Group to ensure that suitable disclosure about the latest financials of the companies involved in the scheme being not more than six months old was done before filing the same with the NCLT, the BSE said its observation letter. "In the light of above, we hereby advise that we have no adverse observations with limited reference to those matters having a bearing on listing/de-listing/continuous listing requirements within the provisions of Listing Agreement, so as to enable the company to file the scheme with Hon'ble NCLT," the BSE said. The validity of this observation Letter shall be six months, within which the scheme shall be submitted to the NCLT, according to BSE. The exchange reserves its right to withdraw its 'no adverse observation' at any stage if the information submitted is found to be incomplete/incorrect/misleading/false or for any contravention of rules, by-laws and regulations of the exchange, listing agreement, guidelines/regulations issued by statutory authorities," it said. In August 2019, Amazon had agreed to purchase 49 per cent of one of Future's unlisted firms -- Future Coupons Ltd -- with the right to buy into the flagship Future Retail after a period of three to 10 years. Future Coupons holds 7.3 per cent equity in the BSE-listed Future Retail, which operates popular supermarket and hypermarket chains like Big Bazaar -- through convertible warrants. Amazon had dragged Future Group to arbitration at the Singapore International Arbitration Centre (SIAC), arguing that Future violated its contract with the US firm by entering into the deal with rival Reliance. Last October, the SIAC had passed an interim award in favour of Amazon with a single-judge bench of V K Rajah barring Future Retail from taking any step to dispose of or encumber its assets or issuing any securities to secure any funding from a restricted party. Later, the Future Group approached the high court requesting to restrain Amazon from writing letters to regulatory authorities about the SIAC arbitral order. On December 21, a single-member bench rejected it but gave a go-ahead to the regulators to decide over the deal. The court had also made several observations indicating that Amazon's attempt to control Future Retail through a conflation of agreements Amazon has with an unlisted unit of the Indian company would be violative of the Foreign Exchange Management Act and the foreign direct investment rules. Amazon has now challenged the order before the division bench. Moreover, a three-member tribunal comprising Singaporean barrister Michael Hwang, Albert van den Berg and Jan Paulsson, has been formed at the SIAC to look into the tussle between Amazon and Future Group. It has countered Amazon's claims, saying the e-commerce giant had failed to provide any help to the debt-laden firm that suffered a massive setback during the coronavirus lockdown. Amazon contends that there were ongoing discussions on multiple options with partners and with the promoters of Future.

Future Retail-Reliance deal gets SEBI approval, Amazon says it will continue to fight legally

The All India Garment Manufacturers &amp; Vendors Association (AIGMVA) has demanded that <keyword id="44949" type="General" weightage="80" keywordseo="future-group" source="Orion">Future Group</keyword> owner <keyword id="44950" type="General" weightage="80" keywordseo="kishore-biyani" source="Orion">Kishore Biyani</keyword> should pay up their dues of over Rs 200 crore pending since 2019, here on Wednesday. The AIGMVA, comprising around 350 members from Maharashtra, Gujarat, Madhya Pradesh, Rajasthan Punjab, Karnataka, Tamil Nadu, Andhra Pradesh, Telangana and Kerala, has warned <keyword id="49454" type="General" weightage="100" keywordseo="biyani" source="Orion">Biyani</keyword> of legal action if he fails to clear their dues. In a statement, the AIGMVA advisor and Trade Union Joint Action Committee (TUJAC) Convenor Vishwas <keyword id="313080" type="General" weightage="80" keywordseo="utagi" source="Orion">Utagi</keyword> said that the producers and suppliers had supplied the garments as ordered by Biyani's group of companies between 2019-2022. "Each manufacturer-vendor has dues of between Rs 70 crore to over Rs One crore and the total amount plus interest would be around Rs 500 crore. We want the union government and all the concerned state governments also to intervene and get the huge amount cleared immediately," Utagi demanded. A garment producer from Thane said that a majority of them had availed bank loans to fulfil the Future Group's orders then but since Biyani did not pay up their bills, now the banks are hounding the manufacturers and suppliers for default and refusing to give more loans. "Due to this, over 100,000 are directly hit and along with their families and other stakeholders, more than five lakh people are on the verge of joblessness and starvation due to Future Group, explained Utagi. He said that the Future Group was last year sold to the Reliance Group and in this deal, the poor vendors comprising the backbone MSME sector of the Indian economy have been left in the lurch. A vendor from Gujarat said that their profit margins are very thin, they have no cash surplus and they survive on a cash-credit facility with regular payments to their suppliers, employees, establishment costs, EMIs, etc. "Owing to Future Group, our 100 per cent working capital is blocked, totally paralysing our operations, and now banks are hounding us with notices of loan defaults, some members have sold off family gold, saving or even their shops or homes to clear their dues and are now practically homeless," he said. The AIGMVA and TUJAC also plan to file cases against the Future Group in different states, write to Members of Parliament and Members of Legislatures to highlight their plight and urge the government's intervention to compel Biyani to pay up the entire dues and end the matter. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/meta-alphabet-amazon-among-companies-that-laid-off-most-employees-in-2023/slidelist/98656731.cms">Meta, Alphabet, Amazon among companies that laid off most employees in 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/most-polluted-cities-in-india/slidelist/98657500.cms">39 out of 50 most polluted cities are in India; here are some key facts</a>

Garment producers demand ₹200 crore dues from Kishore Biyani's Future Group

The Delhi High Court Tuesday directed <keyword id="375475" type="COMPANY" weightage="20" keywordseo="Future-Retail">Future Retail</keyword> Ltd (FRL) to maintain status quo in relation to its Rs 24,713 crore deal with Reliance Retail, which has been objected to by US-based e-commerce giant Amazon. Justice J R Midha said the court was satisfied that an immediate interim order was required to be passed to protect the rights of Amazon. "Respondents (FRL) are directed to maintain status quo as on today at 4:49 PM till pronouncement of the reserved order," the judge said. Amazon has approached the high court seeking direction to order enforcement of the award by Singapore's Emergency Arbitrator (EA) restraining FRL from going ahead with its Rs 24,713 crore deal with Reliance Retail. Amazon has sought to restrain Kishore Biyani-led Future Group from taking any steps to complete the transaction with entities that are a part of the Mukesh Dhirubhai Ambani (MDA) Group.

Amazon gets interim relief, Delhi High Court directs Future Retail to maintain status quo on deal with Reliance

<ul><li>The shares of Reliance Industries and Future Retail cracked 2% and 6% during the early trading hours on Monday. </li><li>The Singapore-based single judge arbitration panel asked Future group to stall its retail business deal with RIL until the arbitration panel decides on it.</li><li>The decision also moved other Future Group stocks such as — Future Lifestyle Fashions trading 8% lower and Future Enterprises down nearly 5%, among others. </li></ul>The shares of Reliance Industries and Future Retail cracked 2% and 6%, respectively, after a Singapore-based single judge arbitration panel asked Future Group to stall its retail business deal with RIL. VK Rajah, the sole arbitrator in the Amazon vs Future vs Reliance arbitration case, while passing an interim award in favour of Amazon, asked the Future Group to put the retail deal with RIL on hold until the arbitration panel decides on the matter. <div type="image" title="Future Retail (1)" msid="78866017" hostid="261"></div> The decision also moved other Future Group stocks such as — Future Lifestyle Fashions trading 8% lower and Future Enterprises down nearly 5%, among others. <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/429a10df-fa77-4b60-b000-3f96e06719da.pdf">Future Retail (FRL) also informed investors </a>that it is examining the communication and the order. However it further added that Future Retail is not party to the agreement under which Amazon has invoked arbitration proceedings. “In any enforcement proceedings, FRL would take appropriate steps to ensure that the proposed transaction will proceed unhindered without any delay,” it said in a statement. Reliance Industries too intends to complete the transaction Mukesh Ambani-led Reliance Industries too said that it intends to enforce its rights and complete the transaction with Future Retail. Reliance Retail Ventures in a statement said that it has entered into the transaction for the acquisition of assets and business of Future Retail under proper legal advice and the rights and obligations are fully enforceable under Indian law. <div type="image" title="RIL" msid="78866026" hostid="261"></div> “RRVL intends to enforce its rights and complete the transaction in terms of the scheme and agreement with Future group without any delay,” RRVL said in a statement. What triggered the Amazon vs Future Group case? Earlier this month, e-commerce giant Amazon.com stepped in and said that Future Group violated a contract with it by entering into the sale agreement with the Mukesh Ambani-led retail major. This after Reliance Retail acquired Kishore Biyani’s Future Group in August for ₹25,000 crore in a<a href="https://www.businessinsider.in/retail/news/mukesh-ambani-reliance-retail-acquires-kishore-biyani-future-group-for-25000-crore-in-a-slump-sale/articleshow/77825144.cms"> slump sale.</a> Last year, Amazon acquired a 49% stake in Future Coupons, a Future group entity. And earlier this month, the e-commerce giant sent a legal notice over the Reliance-Future retail deal, saying that it had been <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-fights-for-its-rights-in-the-future-retail-reliance-deal-sends-legal-notice-to-the-kishore-biyani-group/articleshow/78547247.cms">denied the Rights of First Refusal </a>for the deal with Future Group. (with inputs from wire services) SEE ALSO: <a href="https://www.businessinsider.in/tech/news/the-first-satellite-with-ai-onboard-is-now-in-orbit-and-its-tech-could-completely-change-how-we-respond-to-wildfires/articleshow/78858333.cms" data-type="tilCustomLink">The first satellite with AI onboard is now in orbit, and its tech could completely change how we respond to wildfires</a> <a href="https://www.businessinsider.in/stock-market/news/the-stock-market-has-historically-performed-better-when-the-incumbent-president-wins-reelection-according-to-one-analysis/articleshow/78858968.cms" data-type="tilCustomLink">The stock market has historically performed better when the incumbent president wins reelection, according to one analysis</a>

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