SoftBank Group Corp (9984.T) said it is selling its roughly 20 percent stake in Indian e-commerce firm Flipkart [IPO-FLPK.N] to Walmart Inc (WMT.N).
CAIT said it will move fair trade regulator CCI to file objections on the proposed Walmart-Flipkart deal, claiming that the agreement would lead to an uneven playing field and massive job losses.
Flipkart expects its 'Perfect Homes' to account for almost half its revenues in the furniture category by next March as it expands the product range.
Britain’s competition regulator invited all interested parties in the proposed deal to combine Sainsbury’s with Walmart’s Asda to comment on the impact it could have.
Wall Street’s main indexes dropped on Thursday as U.S. bond yields climbed to a seven-year high and Cisco’s forecast disappointed, while looming Sino-U.S. trade talks added to the jitters.
Walmart Inc (WMT.N), the world’s biggest retailer, posted a rebound in its U.S. e-commerce business on Thursday and beat profit and revenue expectations, lifting its shares in premarket trade.
Walmart Inc, the world’s biggest retailer, posted a rebound in its US e-commerce business on Thursday and beat profit and revenue expectations, lifting its shares in premarket trade.
Asda, that is set to be acquired by Sainsbury’s, reported a 4th straight quarter of underlying sales growth, showing a recovery under new management is gaining momentum.
Flipkart India has halved its standalone losses to Rs 244.7 crore during the 2016-17 fiscal from Rs 544.5 crore in the previous year, according to regulatory documents.
CAIT alleged the USD 16 billion Flipkart-Walmart deal circumvents laws, and said it will seek legal recourse on the matter.
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