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Walmart to Close 3 Technology Hubs, Tells staff to return to offices

Walmart to Close 3 Technology Hubs, Tells staff to return to offices

Tue, Feb 14, 2023

Walmart Inc will close three of its technology hubs in the US and has asked the employees to shift to other primary offices to keep their jobs. Walmart has about 1.7 million US workers, the majority hourly staff in stores and warehouses, and about 0.6 million other staff abroad.

PhonePe moves domicile from Singapore to India ahead of IPO launch

PhonePe moves domicile from Singapore to India ahead of IPO launch

Tue, Oct 04, 2022

The digital payment company is seeking a valuation of USD 8-10 billion and plans to list on Indian bourses.

Flipkart partners Davinta to offer credit facilities to MSMEs, kiranas

Flipkart partners Davinta to offer credit facilities to MSMEs, kiranas

Sun, Sep 19, 2021

Bengaluru-based Davinta was founded by ex-Flipkart CTO Ravi Garikipati and US-based entrepreneur Raj Vattikuti. The two-year-old firm focuses on micro-enterprises and its flagship product Vyaapaar Shakti is a BNPL credit facility designed for small retailers

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Flipkart launches 'Flipkart Boost' for digital-first consumer brands, to empower MSMEs, claims Senior Vice President Ravi Iyer

Flipkart launches 'Flipkart Boost' for digital-first consumer brands, to empower MSMEs, claims Senior Vice President Ravi Iyer

Tue, Sep 07, 2021

"The onset of the pandemic and the resulting rise of direct-to-consumer brands have boosted the MSME sector in India. The growing popularity of digital-first brands driven by a focus on specific customer needs demonstrates immense market potential," Flipkart Senior Vice President and Head (Corporate Development) Ravi Iyer said

Walmart beats estimates for sales on stimulus spending boost, raises profit forecast

Walmart beats estimates for sales on stimulus spending boost, raises profit forecast

Tue, May 18, 2021

Walmart Inc raised its full-year earnings forecast on Tuesday and beat estimates for same-store sales as it benefited from additional stimulus checks that put more money in consumers` pockets and boosted demand for apparel and electronics

Walmart partners with Shopify to expand online marketplace business

Walmart partners with Shopify to expand online marketplace business

Tue, Jun 16, 2020

Walmart Inc has partnered with Canadian e-commerce firm Shopify Inc, as the world`s biggest brick-and-mortar retailer ramps up its efforts to capture a bigger slice of the coronavirus-driven surge in online shopping

Amazon paid $0 worth dividends in 2019 while Walmart paid $12 bn!

Amazon paid $0 worth dividends in 2019 while Walmart paid $12 bn!

Wed, Feb 19, 2020

Walmat spent $11.8 billion on dividends in 2019 while Amazon paid nothing to Wall Street investors, despite generating $13 billion more than Walmart in cash.

Over 600 US Companies urge Trump to resolve Chinese trade tension

Over 600 US Companies urge Trump to resolve Chinese trade tension

Fri, Jun 14, 2019

Walmart Inc, Target Corp and more than 600 other companies urged U.S. President Donald Trump in a letter on Thursday to resolve the trade dispute with China, saying tariffs hurt American businesses and consumers.

Walmart announces overhaul of its e-commerce start-up Jet.com to compete with Amazon

Walmart announces overhaul of its e-commerce start-up Jet.com to compete with Amazon

Thu, Jun 13, 2019

Walmart Inc on Wednesday announced a sweeping overhaul at Jet.com, an e-commerce start-up it acquired in 2016 for $3.3 billion, as the world`s largest retailer competes with Amazon.

Bernie Sanders to push for $15 an hour minimum wage at Walmart shareholder meeting

Bernie Sanders to push for $15 an hour minimum wage at Walmart shareholder meeting

Wed, Jun 05, 2019

The U.S. Senator from Vermont will present a shareholder proposal at the event asking the world`s largest retailer to give its hourly employees a seat on its board and will press the company to raise wages.

Walmart says higher tariffs on Chinese imports will increase prices for US shoppers

Walmart says higher tariffs on Chinese imports will increase prices for US shoppers

Fri, May 17, 2019

US President Donald Trump increased tariffs on $200 billion worth of Chinese imports to 25% from 10% last week. The move is widely expected to raise prices on thousands of products including clothing, furniture and electronics. China retaliated on Monday, though on a smaller scale.

Income tax returns shocker for Flipkart founders Sachin Bansal and Binny; this is what taxman wants from duo

Income tax returns shocker for Flipkart founders Sachin Bansal and Binny; this is what taxman wants from duo

Thu, Nov 22, 2018

Income tax returns: The I-T department has written to Flipkart founders Sachin Bansal and Binny Bansal seeking to know the details of the income earned following their share sale to US retail giant Walmart and when they would be depositing the advance tax, an official said.

Ford, Walmart to collaborate on designing automated-vehicle delivery service

Ford, Walmart to collaborate on designing automated-vehicle delivery service

Wed, Nov 14, 2018

The project is the latest to grow out of Ford’s broader effort to develop businesses that could use automated delivery vehicles. Ford was working with San Francisco-based Postmates already to develop delivery services that could employ automated vehicles.

Walmart India opens 22nd Cash and Carry store in India

Walmart India opens 22nd Cash and Carry store in India

Sat, Sep 22, 2018

Walmart India, the wholly-owned subsidiary of Walmart Inc, Saturday announced the opening of its 22nd business-to-business Cash and Carry store in the country, making it the second Best Price Modern Wholesale store in Ludhiana and the sixth in Punjab.

Flipkart IPO coming? What Walmart may want to do in India revealed

Flipkart IPO coming? What Walmart may want to do in India revealed

Sat, May 12, 2018

Minority investors holding 60 percent of Flipkart`s shares "acting together, may require Flipkart to effect an initial public offering" (IPO) four years after the close of the Walmart-Flipkart transaction, the Bentonville, Arkansas-based retailer said in a May 11 filing with the U.S. Securities and Exchange Commission

Flipkart-Walmart deal fallout: These stocks will gain, but others set to lose

Flipkart-Walmart deal fallout: These stocks will gain, but others set to lose

Wed, May 09, 2018

Walmart will likely end up with 60-80 per cent of Flipkart. Walmart has valued Flipkart at about $20 billion, say reports. Flipkart was valued at about $12 billion last year, according to researcher CB Insights.

With Flipkart, J Sainsbury, Walmart attempts turnaround after losses

With Flipkart, J Sainsbury, Walmart attempts turnaround after losses

Mon, Apr 30, 2018

Walmart Inc`s urgency to stem market share losses to rivals around the world is driving it to partner with local players in the UK and India, even as it scales back in some other markets like Brazil.

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