February 22, 2021 - Biz in 60

Business in 60 Seconds

Indian court halts Future's $3.4B deal on Amazon plea India's Supreme Court has blocked the 3-point-4 billion dollar sale of retailer, Future Group, to the country's largest business conglomerate, Reliance Industries. The injunction follows claims that Future Group's sale violates a contract with the online retail giant, Amazon. The freeze could shutter hundreds of outlets and jeopardise up to 25-thousand jobs. Global dividend payments fall $220B in 2020 The pandemic saw companies slash their dividends shareholders by 220-billion dollars in 2020. According to the latest Global Dividend Index from asset manager Janus Henderson, payouts to shareholders fell 12-percent to 1-point-26 trillion dollars. That's the biggest slump since the financial crisis more than a decade ago. But the report estimates dividends could rebound by as much as 5-percent this year. Copper prices hit highest level in almost 10 years Copper prices have surged to the highest level in nearly ten years thanks to optimism about a global economic recovery. Benchmark copper on the London Metal Exchange has risen as much as 3-percent, crossing 9-thousand dollars a tonne. The metal has also benefited from a weaker dollar and a rise in inflation expectations.