Daily News Podcast: Walmart to buy Flipkart ESOPs worth $800 million : Bulletin: Business Today
Business Today

Daily News Podcast: Walmart to buy Flipkart ESOPs worth $800 million

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September 21, 2018

New jobs rise to 11-month high of 9.51 lakh in July

New job creations in July rose to an 11-month high of 9.51 lakh, taking the total tally of new enrolments to 61.81 lakh since September 2017, according to the EPFO's payroll data. Job addition numbers, which are based on new members enrolled in various social security schemes of EPFO such as pension, PF and insurance, were 9,51,423 in July -- the highest in any month since September 2017 when the retirement fund body started releasing payroll data.
In total, as many as 61, 81,943 jobs were created during September 2017 to July 2018 period, the payroll data showed.
27 states, UTs on board to implement PM Modi's healthcare scheme from September 25

As many as 27 states and Union Territories are ready to join the ambitious healthcare scheme Pradhan Mantri Jan Arogya Yojana after its launch on Sunday by Prime Minister Narendra Modi, a Niti Aayog member said.
Over 15,000 hospitals, both public and private, across the country have expressed their willingness to be empanelled for the scheme which aims to provide 10.74-crore poor families health insurance, Niti Aayog member V K Paul, who is the chief architect of the scheme, told PTI in an interview.

India to pay Iran in rupees for oil imports from November

India may revert to paying Iran in rupees for the oil it buys from its third largest supplier as US sanctions will from November 4 block use of US dollars to settle such trades, a top official said Thursday.
Oil refiners such as state-owned Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) could use UCO Bank or IDBI Bank to route oil payments to Iran, the official added.
US sanctions against Iran come into effect from November 4 and will block banking channels.
Flipkart employees to turn millionaires after Walmart buys employee shares worth $800 million

Flipkart employees are in for a treat. Earlier this year, Walmart acquired Indian e-commerce giant Flipkart in a buyout vauling at $16 billion. And now, nearly four-and-a-half-months after the acquisition, Flipkart in a letter to its employees has announced that they will be allowed to liquidate their Employee Stock Ownership Plans (ESOPs) for a value ranging between $126-$128 per share. According to a report by the Economic Times, while the total value of Flipkart's ESOPs is estimated to be around $1.5 billion based on the per-share price, the total value of purchases that Walmart is expected to buy is estimated to be around $800 million.

Jet Airways air pressure drop: Centre directs Aircraft Accident Investigation Bureau to probe incident

Passengers on board a Jet Airways flight from Mumbai to Jaipur bled from their nose and ears after the pilots forgot to switch on a crucial button that would turn on the air conditioning within the aircraft and maintain the cabin pressure. On Thursday morning, Jet Airways flight 9W-697 landed back in Mumbai within 30 minutes of taking off from the airport's Terminal 2 after 30 of the 166 passengers on board started bleeding and complained of headaches. Taking cognizance of the nightmarish incident, the Ministry of Civil Aviation has directed the Aircraft Accident Investigation Bureau to investigate the incident.

Bug problem at IKEA! Customer finds insect in chocolate cake at Hyderabad store
Forget competitors, the biggest challenge IKEA has faced so far in India are pests. The Swedish home furnishing giant is facing bad press once again after a customer found an insect inside a chocolate cake while his daughter was eating it. This happens to be second such incident at IKEA's Hyderabad store in the span of a month.

Compiled by Rashi Bisaria
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