Wednesday, October 27, 2021

Walmart

ED slaps Rs 10,600-cr FEMA contravention notice against Flipkart

Sources said the notice was issued after completion of investigation and the charges include violation of the foreign direct investment (FDI) rules and those that regulate multi-brand retail.

Reliance slips 59 places on Fortune list

Reliance took a beating on the rankings as revenues dropped owing to the COVID-19 pandemic. This is its lowest ranking since 2017.

Flipkart raises $3.6 bn from GIC, SoftBank, Walmart, others

The investment values the Group at USD 37.6 billion (about Rs 2.79 lakh crore) post-money, Flipkart said in a statement.

SoftBank in talks to invest USD 500-600 mn in Flipkart: Sources

The transaction - which may also see participation from Singapore's sovereign wealth fund GIC and Canadian pension fund CPPIB - could value Flipkart between USD 30-32 billion.

Walmart, Flipkart mobilise resources to help India get oxygen

These are being sourced globally and will be donated to hospitals and NGOs in India for distribution as the country gasps for oxygen amid the lethal second Covid wave.

Walmart to build more robot-filled warehouses at stores

Walmart said the robots save time since employees don't have to walk store aisles to find items.

Walmart to bring livestreamed shopping on TikTok

This first-of-its-kind livestream shopping experience will take place on Friday at 8 p.m. EST on the Walmart profile page on TikTok, the company said on Thursday.

Walmart plans to triple exports from India

India is already one of Walmart’s top sourcing markets, with annual exports worth about $3 billion

Walmart plans to increase exports from India to $10 billion by 2027

The expansion in sourcing will include helping develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and general merchandise, along with apparel homeware and other key Indian export categories.

Walmart sells majority stake in Japanese firm

KKR & Co, a global investment firm, will purchase a 65% stake, while Japanese online retailer Rakuten will acquire a 20% stake from Walmart,

Walmart, Flipkart Group make fresh investment in Ninjacart

This second round of funding comes at a time when Flipkart is focusing on growing its Supermart (grocery) and Flipkart Quick (hyperlocal business).

Corporate feast at farmers’ cost

Instead of abolishing it, the government should provide legal backing to Minimum Support Price to help farmers

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