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BusinessToday.In
August 8, 2018
The Competition Commission of India (CCI) cleared the acquisition of India e-commerce major Flipkart by the United States-based retail behemoth Walmart.


BusinessToday.In
August 6, 2018
Walmart will hire about 1,000 more people for technology roles in India to hold off competition, especially from e-commerce behemoth Amazon.


PTI
New Delhi, July 23, 2018
Uttar Pradesh is a very important and priority growth region for us and we are further expanding our business in the state to support kiranas, small farmers and local suppliers to help make them successful, says Krish Iyer, President and CEO of Walmart.


Mail Today Bureau
July 3, 2018
The Confederation of All India Traders organized mass sit-in protests across cities such as Delhi and Mumbai against the deal on Monday. The traders body fears that Walmart's buyout of Bengaluru-based Flipkart will create a monopoly in the retail market and drive mom-and-pop stores out of business.


PTI
June 4, 2018



PTI
May 16, 2018



BusinessToday.In
New Delhi, May 14, 2018
Walmart CEO Doug McMillon has said that India is a growth market when it comes to e-commerce and that the brand is eyeing to expand in large scale in the future.


Goutam Das
New Delhi, May 11, 2018
The Walmart statement on its Flipkart purchase made all the right noises. It would create jobs and support 'Make in India'. The statement also mentions the humble kirana: \"Among other initiatives, Walmart will partner with kirana owners and members to help modernise their retail practices and adopt digital payment technologies.\"


BusinessToday.In
New Delhi, May 11, 2018
Flipkart co-founder Sachin Bansal bids adieu in emotional Facebook postNews of Flipkart co-founder Sachin Bansal's exit from the company had surfaced even before the Walmart deal was finalised. Now, with the Walmart-Flipkart deal following through, Sachin Bansal has put up an emotional post on Facebook. \"Sadly my work here is done and after 10 years, it's time to hand over the baton and move on from Flipkart. But I'll be watching and cheering from the outside - Flipsters, you better continue to do a good job!\" Bansal wrote in the post with equal measures of nostalgia and encouragement. Talking about what he would be doing in his time off, Bansal said he would take a long time off to finish personal projects, brush upon his coding skills and catch upon gaming. He also added that Flipkart upheld customer centricity and that he got to work with the best people in these years.Flipkart deal to create 10 million jobs in India: Walmart CEO Doug McMillonWalmart CEO Doug McMillon has said that the Flipkart-Walmart deal will create around 10 million jobs in India. This includes both direct and indirect jobs. While the deal will allow both retailers to benefit from each other's expertise, it also promises to help the Indian economy in terms of job creation, increasing farmers' income and promoting national initiatives including 'Make in India', as per a joint statement by Walmart and Flipkart.On the issue of job creation, Walmart India said that it will create jobs by developing supply chains and commercial opportunities. Walmart said that its collaboration with Flipkart will also support small businesses by procuring directly from them. The company said that it will support farmer by sourcing its inventory locallyHDFC Bank hunts for Aditya Puri's successor; plans 1 year overlap period  Even though its founding CEO Aditya Puri has got over two years to serve before he hangs up his boots, the HDFC Bank management is not taking any chances. India's largest private sector lender will start hunting for the next-in-line to fill in CEO's shoes 18-24 months ahead of Puri's retirement. Not just this, the successor will also get to work closely with Puri for a year. During the 12-month overlap period the incoming CEO will get to learn the tricks of the trade hands-on from Puri.  Fortis Healthcare board decides to take offer from Munjal-Burman combineIn a marathon meeting that went on for hours, the Fortis Healthcare Limited (FHL) board on Thursday met to decide who'll take charge of the cash-strapped largest hospital chain in country. Having played the belle of the ball over the past few weeks, with multiple suitors aggressively competing against, the company finally decided to take the offer from Sunil Kant Munjal of Hero Enterprise and the Burman family of the Dabur group. The Fortis board of directors has also appointed Sabina Vaisoha and Rohit Bhasin as independent directors of the company for a period of five yearsAfter Flipkart-Walmart deal, Biyani planning stake sale to a retail major: ReportOnly a day after Walmart announced to buy majority stake in Indian e-tailer Flipkart, reports of offline retail major Future Group looking for a global retail major to sell at least 10 per cent of its stake have surfaced. Its CEO Kishore Biyani has divulged plans to sell minority stake to the 'strongest global retailer' in a media report without naming any prospective buyers.While Biyani has not taken any names, an individual in the know of things has disclosed that the Future Group founder has had early talks with Amazon and Walmart, according to a report by The Economic Times. Biyani's Future Group has been doing some serious shopping, acquiring half a dozen supermarket store chains over the past six years and building a combined retail space of 13.6 million square feet.


Mail Today Bureau
May 11, 2018
US retail giant Walmart Inc on Thursday tried to allay fears over its USD 16 billion acquisition of Flipkart, saying the deal is good for India as it will help create millions of jobs and give a fillip to the economy through local sourcing of goods by the company.


Dipak Mondal
New Delhi, May 10, 2018
The tax on the deal arises due to indirect transfer provisions of Indian income tax laws. The tax provisions say income arising out of transfer of share of a company registered outside India is taxable in India, if such shares derive substantial value from assets located in India.


BusinessToday.In
New Delhi, May 10, 2018
Walmart to pay $16 billion for control of FlipkartWalmart Inc said on Wednesday it will pay $16 billion for a roughly 77 percent stake in Indian e-commerce firm Flipkart, the U.S. retailer's largest-ever deal as it competes with Amazon.com Inc in an important growth market. Walmart's acquisition opens a new front in its battle with Amazon, which had expressed interest in making a competing offer. Amazon holds about 27 percent of India's burgeoning e-commerce market, according to Euromonitor, where Walmart only operates 21 cash-and-carry wholesale stores in the country that sell to businesses. Walmart expects the deal to help set it up \"for growth and profits in the future,\" Chief Executive Officer Doug McMillon said on a call with investors as reported by ReutersWalmart CEO says deal will empower Flipkart employeesJust hours after announcing Walmart's acquisition of Flipkart in the biggest e-commerce deal in the history, Walmart President and CEO, Doug McMillon sent out his remarks to Flipkart employees saying that the deal was the best decision they have ever made. Addressing the change in ideals after the takeover, McMillon assured, \"Our values are very much aligned. Respect in people, striving for excellence, acting with integrity, doing things we can be proud of, and the customer focus.\" On the synergies of the deal, McMillon said the Bengaluru-based company can take advantage of Walmart's resources supply chain and retailing expertise - while Flipkart could share its experience and expertise in building an entire ecosystem around online commerce business.Google announces Android P Beta, built on machine learning and artificial intelligenceThe keynote at the Google I/O 2018 was all about artificial intelligence and machine learning. The search giant launched many features across products including Google Compose, which helps in writing emails faster, new Google News app with AI, Android P and more. With the Android P Beta, Google aims to make Android smarter and easier to use than ever. Android P has machine learning at its core and will help the smartphone learn and adapt as per the usage. Google has partnered with Deep Mind, the world leader in artificial intelligence, to build Adaptive Battery for Android P.Noida International Airport project to be completed by 2022The Ministry of Civil Aviation (MoCA) on Tuesday gave in-principle approval to the Uttar Pradesh government to build Noida International Airport at Jewar, a town situated about 100 kms away from New Delhi. This will be the second airport in the Delhi NCR region that will be expected to give relief to the existing airport in Delhi which is bursting at the seams. The bidding process is likely to start in the first week of July. The state government has formed an expert committee that will into the rehabilitation and resettlement process. The land acquisition process is expected to start by early June.Vijay Mallya can be regarded as 'fugitive from justice', says UK High CourtLiquor baron Vijay Mallya, wanted in India to face charges of fraud and money laundering of around Rs 9,000 crore, can be regarded as a \"fugitive from justice\", the UK High Court has concluded. Judge Andrew Henshaw, who upheld a worldwide freeze order and ruled in favour of 13 Indian state-owned banks to recover funds amounting to nearly 1.145 billion pounds in a judgment, took note of the fact that the 62-year-old businessman is contesting his extradition to India relating to \"alleged financial misconduct\".Chhota Bheem readies for Netflix and a new 3D projectChhota Bheem, the popular cartoon character, which recently completed its 10 years, has powered its way in to Netflix. Being billed as the India's first Netflix original television show for children, a new version of the cartoon character would soon be available on the online streaming platform. The character, which is called \"Mightly Little Bheem\", would be a baby and therefore won't speak and this would make it possible for the channel to broadcast the content across the 190 countries. Rajiv Chilaka, the founder and CEO of Greengold Animation, creator of Chhota Bheem, informed Business Today that the company recently signed with Netflix for the show and is currently working on the production.


Rajeev Dubey
May 10, 2018
Prime Minister Narendra Modi rarely misses an opportunity to meet with visiting CEOs of global companies. It's not just a photo-op but also helps build personal equation with the global honchos or founders of large companies.


Prosenjit Datta
May 10, 2018
Now that the Flipkart-Walmart deal has been announced, it is very clear what Flipkart is getting out of the deal. But it is not very clear what Walmart gains after paying $16 billion to take over the majority stake.


BusinessToday.In
May 10, 2018
Just hours after announcing Walmart's acquisition of Flipkart in the biggest e-commerce deal in the history, Walmart President and CEO, Doug McMillon sent out his remarks to Flipkart employees saying that the acquisition was the best decision they have ever made.


PTI
May 9, 2018



PTI
May 9, 2018



Rajeev Dubey
New Delhi, May 10, 2018
Walmart CEO Doug McMillon has said that the Flipkart-Walmart deal will create around 10 million jobs in India. This includes both direct and indirect jobs.


BusinessToday.In
New Delhi, May 9, 2018
Walmart will pay $16 billion for an initial stake of 77 per cent in Flipkart, valuing the e-tailer close to $20 billion. The remainder of the business will be held by some of Flipkart's existing shareholders.


Joe C Mathew
New Delhi, May 9, 2018
RSS affiliate Swadeshi Jagran Manch (SJM) has opposed the takeover of home grown Flipkart by US retail major Walmart. In a letter to Prime Minister Narendra Modi, SJM alleged that the approval for the takeover is in violation of existing laws.


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