Reliance Industries of India said it cannot fully implement its $3.4 billion purchase of retailer Future Group, after Future Group's secured creditors objected.
Why it matters: It's something of a win for Amazon, which has been fighting the merger since it was announced nearly two years ago. But it's a catastrophic loss for Future Group, once India's second-largest retailer with more than 1,500 stores, which may go bankrupt.
Amazon can begin construction on the helix-shaped tower centerpiece of its second headquarters (HQ2), in Arlington, Virginia, after the plans were unanimously approved by county lawmakers Saturday, per the Washington Post.
The big picture: The project will comprise 2.8 million square feet of office space across three 22-story buildings. At the center will be "The Helix," a tree-covered office featuring "two walkable paths of landscaped terrain that will spiral up the outside of the building," Amazon said when it announced the plans in February 2021. It aims to complete construction in 2025.
European lawmakers came to an agreement early Saturday in Brussels on a legislative package that will impose major new obligations on how Big Tech companies handle content on their platforms — and big fines if they fail to comply.
Why it matters: It's another aggressive step forward on tech for Europe, which has led the way in regulating the digital age and has already set the tone for how the world deals with online privacy and competition.
