The Japanese telecommunications media corporation SoftBank Group announced that it had agreed to sell its stake in the Indian Flipkart Group, the world's largest e-commerce company, to the American corporation Walmart. According to Dow Jones, this step put an end to the doubts of the head of the world's largest technology fund, Masayoshi Son, whether to sell a 21 percent stake owned by Vision Fund as part of the deal to take Flipkart under Walmart control for $16 billion. A representative of SoftBank confirmed that Son decided to sell the stake. Son told The Wall Street Journal that he plans a larger investment in Paytm's digital payment company, which also operates an online store.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Flipkart Ltd announced on Thursday that it acquired a 100% stake in Walmart India Pvt Ltd that operates local cash-and-carry business. The electronics retail company had also launched its new digital marketplace called Flipkart Wholesale. “With ...
Alibaba Group Holding Ltd's (BABA) co-founder Jack Ma sold $8.2 billion worth of shares, reducing his stake in the company over the past year from 6.2% to 4.8%. The Chinese e-commerce company released its annual report on Friday. The divestment ...
On Monday, Fujitsu Ltd. (6702.T) announced that it would halve its office space in Japan by March 2023 as it pushes for its 80,000 employees to work remotely amid the coronavirus outbreak. The IT solutions company said that its employees would ...