Walmart | The Asian Age

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Amazon jumps out ahead of its rivals and raises wages to $15

The online giant also said it will push Congress to increase the federal minimum wage, now at $7.25.

03 Oct 2018 8:35 AM

Traders' body CAIT has told the NCLAT that Walmart has been found "guilty of predatory behaviour" in countries like Germany, Mexico and South Africa and "may repeat such behaviour in India" through its acquisition of online major Flipkart. (Photo: AFP)

CAIT to NCLAT: Walmart may repeat 'predatory behaviour' in India as well

Walmart says its business model and activities in India were different of Flipkart's.

02 Oct 2018 7:40 PM

E-commerce major Flipkart on Tuesday said it has acquired Israel-based Upstream Commerce for an undisclosed amount as the Walmart-backed firm aims to further strengthen its selection and pricing capabilities.

Flipkart acquires Israel's Upstream Commerce

It will get access to advanced data science-based intelligent solutions through the acquisition.

25 Sep 2018 7:36 PM

Walmart Inc’s Flipkart unit is considering naming a new chief executive officer (CEO) at the group level in place of Binny Bansal.

Flipkart may appoint new group CEO in place of Binny Bansal

Co-founder and current group CEO Binny Bansal is not actively involved in daily operations.

24 Sep 2018 11:31 AM

Setting up a second store in Ludhiana and sixth one in Punjab reinforces our belief in the ease of doing business here in the state, says Walmart.

Walmart India opens 22nd Cash and Carry store in India

The new store simultaneously got integrated with the B2B e-commerce platform.

22 Sep 2018 5:31 PM

Walmart confirmed it sent the letter and in a statement to Reuters urged the two countries to find solutions.

Walmart warns Trump tariffs may force price hikes: letter

The letter comes days after US President Donald Trump slapped tariffs on $200 billion worth of Chinese goods.

21 Sep 2018 9:22 AM

US retail giant Walmart paid Rs 7,439 crore tax on payments it made to buy out shares of 10 major shareholders of Flipkart but has not yet done so for another 34 who exited the Indian e-commerce company in the USD 16 billion deal, tax officials said.

'Walmart paid Rs 7,439 crore tax on Flipkart deal'

Walmart is legally not required to withhold tax on payments made to foreign shareholders with a stake of less than 5 per cent.

16 Sep 2018 1:07 PM

The acquisition of Flipkart by Walmart may negatively impact the net income of the latter this fiscal and also the next, said Walmart in its recent regulatory filing. (Photo: AFP)

Flipkart acquisition may impact net income this fiscal, says Walmart

The US retail giant had last month said it completed the acquisition of 77 per cent stake in Flipkart Group.

09 Sep 2018 1:58 PM

US retail giant Walmart on Friday said it has complied with the tax obligations of its USD 16 billion acquisition of India's largest online retailer Flipkart but did not say the quantum of taxes it paid. (Photo: AFP)

Have complied with tax obligations in Flipkart deal: Walmart

The company did not disclose the tax amount deposited with the I-T authorities.

07 Sep 2018 7:34 PM

The National Company Law Appellate Tribunal (NCLAT) has asked US retail major WalMart and e-commerce major Flipkart to explain their way of doing business in India.

NCLAT wants to know India business models from WalMart and Flipkart

It has also asked trader's body CAIT to file its understanding over the Walmart's business model in India.

07 Sep 2018 4:03 PM

Traders' body CAIT Wednesday said it will launch a 90-day nationwide agitation against the USD 16-billion Walmart-Flipkart deal from September 15, starting from the national capital.

Walmart-Flipkart deal: Traders to launch 90-day protest from September 15

The association has also called for a 'Bharat Trade Bandh' on September 28.

05 Sep 2018 4:28 PM

The Income Tax Department will wait till September 7 for settlement of withholding tax by Walmart on payments made to about 44 shareholders exiting e-commerce firm Flipkart before it proceeds in the case, an official has said.

IT department to wait till Sept 7 for Walmart to pay tax on Flipkart deal

Walmart Inc had completed acquisition of 77 per cent stake in Flipkart for about USD 16 billion.

02 Sep 2018 5:40 PM

CAIT said it will launch a nation-wide Rath Yatra on September 15 against the deal.

Traders to shut shops on Sept 28 against Walmart-Flipkart deal

The traders' body will also hold a mega rally here on December 16 to protest "discriminatory treatment against traders.

21 Aug 2018 8:59 AM

Walmart seals deal to acquire majority stake in Flipkart

Walmart said its investment includes $2 billion of new equity funding to help accelerate the growth of the Flipkart business.

19 Aug 2018 4:28 AM

Having cleared global retail giant Walmart's USD 16 billion acquisition of home-grown Flipkart, fair trade watchdog CCI has opined that complaints about the deal violating FDI rules "may merit policy intervention" but do not fall under its ambit.

Walmart-Flipkart deal: CCI says no bar on it to probe discounting practice

In its detailed order clearing the deal, the CCI has said it is "not likely" to have an appreciable adverse effect on competition in India.

12 Aug 2018 1:26 PM

I-T department had written to Walmart, saying that the US company can seek guidance about the tax liability under Section 195 (2) of the I-T Act.

Walmart may approach I-T dept to determine tax liability in Flipkart deal

Walmart last month assured the I-T department that it will fulfil all tax obligations.

09 Aug 2018 1:08 PM

Walmart announced in May it was acquiring about 77 per cent of Flipkart for roughly $16 billion in the biggest deal for India’s e-commerce sector.

CCI clears Walmart's USD 16 billion acquisition of Flipkart

Walmart-Flipkart combination would create unfair competition and drive local convenience stores out of business.

09 Aug 2018 8:30 AM

The government on Monday said it has received representations from trade bodies alleging irregularities in various aspects of the proposed acquisition of Flipkart by Walmart and that have been sent to concerned agencies for necessary action.

Depictions against Flipkart-Walmart deal sent to concerned department

In May, the US-based retailer Walmart Inc announced acquisition of 77 per cent stake in Flipkart in its biggest takeover till date.

06 Aug 2018 5:49 PM

The company, which registered operating income of 715 billion yen (USD 6.42 billion) during the quarter, also attributed the growth to sale of the majority of chip designer ARM Holding's Chinese operations. (Photo: AFP)

SoftBank profit up 49 per cent on Flipkart, ARM stake sales

SoftBank said it estimates that the sale of Flipkart shares will occur within 24 months of the inception of the investment.

06 Aug 2018 5:33 PM

The world's 500 largest companies generated USD 30 trillion in revenues and USD 1.9 trillion in profits in 2017. (Photo: AP)

IOC tops 7 Indian firms on Fortune 500 list, RIL jumps 53 places

Indian Oil Corp with 23 per cent rise in revenues at USD 65.9 billion was ranked 137th from 168th position.

01 Aug 2018 12:56 PM

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Mohan Guruswamy