There has been a 47 per cent increase compared to the same period a year ago in net oncome for the fiscal year ended March 2018 for China’s e-commerce giant Alibaba, the company announced on Friday. The net income was… Read More ›
Economy & Finance
Reports Say Walmart Secures 75% Stake In Indian E-Retailer Flipkart, Trumps Amazon
In India, the new battle ground between Walmart and Amazon.com, the largest retailer in the world apparent seems to have trumped to its online rival Amazon and is slated to take up a majority stake at Flipkart – India’s largest… Read More ›
6,000 Jobs Expected To Be Cut By BT As Part Of Restructuring
Troubled by its Italian accounting scandal, that lasted for at least 18 months, BT is attempting to rebuild investor confidence and is all set to announce job cuts to the tune of about 6,000 globally. The company has also been… Read More ›
China opens up its iron ore future’s market to outside investors
The move, part of a bigger gameplan, is aimed at gaining pricing control over the import of China’s major commodities. With China launching its “internationalised” iron ore contract, Glencore, a global trader, was the first foreign firm to carry out… Read More ›
Demand for DirectTV or Turner divestment could lead to no deal: AT&T
Judge Richard Leon is expected to take a decision on the proposed merger by June 12. As per a court filing, AT&T wants a federal judge to reject any request by the U.S. Justice Department which compels it to divest… Read More ›
Amazon.com pauses office space investment in the wake of Seattle City Council’s tax plan
While the aim of the Seattle City Council’s tax plan is to generate revenues the bulk of which will be channeled for affordable, the plan’s efficacy is unclear. With Amazon putting its new office space in pause, more than 7,000… Read More ›
Boeing acquires aerospace spare parts maker KLX Inc for $3.2 billion
The strategic acquisition, aimed at garnering more revenues from the higher-margined spares parts and airplane services industry, does not significantly impact its 2018 guidance or its capital deployment strategy. On Tuesday, in a move aimed at expanding its aircraft services… Read More ›
U.S. House of Representatives likely to review 2010 Dodd-Frank financial reform law by May
The object is not to repeal but to review and reform the 2010 Dodd-Frank financial reform law which aims to provides critical protections to taxpayers and consumers. As per a leading Republican lawmaker, the U.S. House of Representatives is likely… Read More ›
Wal-Mart’s tie ups in India and UK could be its potential growth engine
While Wal-Mart has struggled to compete in its home ground, its potential tie-up with UK’s Sainsbury Plc and India’s Flipkart promises to be the growth engine it once was. Wal-Mart, the world’s biggest brick-and-mortar retailer is making urgent efforts to… Read More ›
British supermarket store proposes to acquire Walmart’s Asda for $10 billion
The potential merger, a stock and cash deal, between Britain’s second and third biggest retail groups has cost synergies of at least 500 million. In a significant development, Britain’s Sainsbury has agreed to acquire Walmart’s Asda for around $10 billion… Read More ›
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