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Toys to account for significant portion of Walmart's USD 10 billion exports target from India: Official

Toys to account for significant portion of Walmart's USD 10 billion exports target from India: Official

Thu, Jan 04, 2024

Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that the American company has recently held a workshop with 100 Indian toy makers so that they can set up the supply chain for toy exports from India.

Flipkart gets $ 600 million from Walmart at around 5-10% higher valuation

Flipkart gets $ 600 million from Walmart at around 5-10% higher valuation

Fri, Dec 22, 2023

Flipkart did not comment on the valuation of the company post fresh fund infusion from its parent firm.

FedEx profit misses, cuts full-year revenue forecast; shares sink

FedEx profit misses, cuts full-year revenue forecast; shares sink

Wed, Dec 20, 2023

FedEx now expects a low-single-digit percentage decline in revenue from last year, compared with its prior forecast of roughly flat results.

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Shock for Walmart in India? Is Flipkart domination over in India? Jeff Bezos' Amazon sees good days

Shock for Walmart in India? Is Flipkart domination over in India? Jeff Bezos' Amazon sees good days

Wed, Nov 28, 2018

Jeff Bezos Amazon has taken over the lead in India's e-commerce industry in gross merchandise value (GMV), or gross sales, segment.

A blow to Flipkart, Walmart! There is a new deal in town, this is what Jeff Bezos' Amazon is planning here

A blow to Flipkart, Walmart! There is a new deal in town, this is what Jeff Bezos' Amazon is planning here

Tue, Nov 27, 2018

Just like offline channel Walmart knocked the door of e-retailer Flipkart, similarly, online major Amazon is in talks to join hands with India’s largest offline channel Future Retail.

Surprise! Walmart Flipkart stake quietly soars to 81.3%

Surprise! Walmart Flipkart stake quietly soars to 81.3%

Thu, Nov 22, 2018

Walmart said it is in talks to bring new investors into Flipkart, said the report, and cited one person familiar with the matter saying that Flipkart is in discussions with Google, Intel and existing investor Microsoft to raise more capital.

Flipkart makers' exit! First Sachin Bansal, now Binny Bansal; This is how they give India its largest shopping portal

Flipkart makers' exit! First Sachin Bansal, now Binny Bansal; This is how they give India its largest shopping portal

Fri, Nov 16, 2018

A scandal has emerged in Flipkart, but that has been under the leadership of US-based offline retailer Walmart, albeit, it has to do with a co-founder. What has happened is that, since Flipkart came under ambit of Walmart, two of its founder have left the company.

In shock move, Warren Buffett ends 20-year love affair with Walmart; Flipkart or Amazon to blame?

In shock move, Warren Buffett ends 20-year love affair with Walmart; Flipkart or Amazon to blame?

Fri, Nov 16, 2018

Berkshire’s investment in Walmart goes way back to 1998, and Buffett held some 20 million shares in the retailer until he doubled that by the end of 2009. In the year 2003, Buffett had even purchased Walmart’s McLane food-distribution business.

Binny Bansal resigns: What next at Flipkart now

Binny Bansal resigns: What next at Flipkart now

Wed, Nov 14, 2018

After the unceremonious, even ignominous, exit of Binny Bansal from the very cpompany he co-foinded, Kalyan Krishnamurthy, who heads the company's main Flipkart e-commerce operation, would now act as chief executive for a broader group.

Why Flipkart CEO Binny Bansal has resigned

Why Flipkart CEO Binny Bansal has resigned

Tue, Nov 13, 2018

Walmart-owned Flipkart's chief executive and co-founder Binny Bansal has resigned following a probe into serious personal misconduct, said Walmart Inc on Tuesday in a regulatory filing. Bansal has strongly denied the allegations, the company said in a statement.

Amazon or Flipkart? Where did India shop this time online? And the winner is...

Amazon or Flipkart? Where did India shop this time online? And the winner is...

Tue, Nov 06, 2018

With festive sales drawing to a close, e-tailing giants Amazon and Flipkart have claimed bumper sale on their platforms, and that they were ahead of the competition, as they received orders from customers from over 99 per cent of the pin codes in the country.

Flipkart Big Billion Days sale Oct 10-14: Rs 60,000 credit line open, all details here

Flipkart Big Billion Days sale Oct 10-14: Rs 60,000 credit line open, all details here

Tue, Sep 25, 2018

Flipkart is back with its Big Billion Days sale, starting from October 10 and the sale will go on till October 14.

This Flipkart honcho set to be replaced? Walmart cracks the whip

This Flipkart honcho set to be replaced? Walmart cracks the whip

Mon, Sep 24, 2018

Walmart Inc's newly acquired Indian retailer Flipkart is likely to appoint a new chief executive officer (CEO) at the group level, replacing Binny Bansal. One of the most prominent names that may replace Bansal is Flipkart Chief Executive Officer Kalyan Krishnamurthy, reported Mint.

Ahead of festive season, Walmart starts purchasing Flipkart shares from current, former staff; all details here

Ahead of festive season, Walmart starts purchasing Flipkart shares from current, former staff; all details here

Thu, Sep 20, 2018

It has been revealed that Walmart has set September 28 as its deadline for completing the buyback process.

'Flipkart acquisition may impact Walmart net income this Fiscal'

'Flipkart acquisition may impact Walmart net income this Fiscal'

Sun, Sep 09, 2018

Beginning in the third quarter of fiscal 2018, Walmart will consolidate the financial statements of Flipkart using a one-month lag, it added.

Tencent has 1st right to buy in future Flipkart share sale

Tencent has 1st right to buy in future Flipkart share sale

Sat, Sep 08, 2018

"No change of control sale or drag-along sale to Alibaba shall be effected (each an Alibaba Transfer), unless Tencent shall have been given written notice of at least five business days prior to the consumption of such transaction...," said the agreement between Wal-Mart International Holding Inc and Flipkart.

Walmart-Flipkart deal: Income Tax department to wait till September 7 for tax from Walmart

Walmart-Flipkart deal: Income Tax department to wait till September 7 for tax from Walmart

Mon, Sep 03, 2018

The Walmart has not yet approached the tax department to ascertain the withholding tax liability, although some shareholders of Flipkart who are exiting the e-commerce company have sought guidance on their tax liability, the officials said.

IT dept to wait till Sep 7 for Walmart to pay tax on Flipkart deal

IT dept to wait till Sep 7 for Walmart to pay tax on Flipkart deal

Sun, Sep 02, 2018

The Walmart has not yet approached the tax department to ascertain the withholding tax liability, although some shareholders of Flipkart who are exiting the e-commerce company have sought guidance on their tax liability, the officials said.

Warren Buffett's Berkshire Hathaway in talks to invest up to $350 mn in Paytm

Warren Buffett's Berkshire Hathaway in talks to invest up to $350 mn in Paytm

Tue, Aug 28, 2018

One of the persons said the deal would see Nebraska-based Berkshire Hathaway pick up 3-4 per cent share in One97 Communications, the parent firm of Paytm.

Anthem ties-up with Walmart for over-the-counter drugs

Anthem ties-up with Walmart for over-the-counter drugs

Mon, Aug 20, 2018

Anthem Inc said on Monday it has partnered with Walmart Inc to launch a program in January 2019 that will allow its Medicare Advantage plan customers to purchase over-the-counter medications from the retailer`s stores and website.

It's final! Here are Walmart-Flipkart deal details

It's final! Here are Walmart-Flipkart deal details

Sat, Aug 18, 2018

Flipkart-Walmart deal details: US retail giant Walmart has completed the deal to buy 77 per cent stake in Flipkart.

Walmart income tax liability in Flipkart deal: What MNC may do in India

Walmart income tax liability in Flipkart deal: What MNC may do in India

Fri, Aug 10, 2018

Following CCI's nod to the Walmart-Flipkart deal, the I-T department expects Walmart to approach it under Section 197 of the Income Tax Act within a fortnight.

Traders' body to launch nationwide stir against Walmart-Flipkart deal

Traders' body to launch nationwide stir against Walmart-Flipkart deal

Mon, Jul 30, 2018

Earlier this week, addressing members of CAIT here, Commerce Minister Suresh Prabhu said the ministry has asked the Enforcement Directorate (ED) to look into the complaints related to alleged violation of foreign direct investment norms by some e-commerce players.

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