Walmart

Walmart says its revamped supply chain will enable it to ease cost pressures tied to the rise of e-commerce and help end a decade of stagnation in US operating income

The company is shedding positions in what it calls its development and preservation teams. Those groups are responsible for the construction and upkeep of Apple retail stores

The losses include more than 1,000 positions at a warehouse in Fort Worth

Walmart Foundation on Wednesday announced its plan to support an additional 1 million smallholder farmers in India, with at least 50 per cent women, in the next five years. The foundation also announced two new grants, which include USD 3 million to TechnoServe for reaching out to 30,000 farmers and 24 farmer producer organisations (FPOs) in Maharashtra and Andhra Pradesh, with 50 per cent of them expected to be women. Another grant of USD 533,876 (over Rs 4.41 crore) to NGO Trickle Up to reach out to 1,000 women smallholder farmers in Odisha, connecting them with two FPOs, she said, adding that the focus is to ensure the system works better for farmers. Addressing a conference here, Walmart Foundation President Kathleen McLaughlin said: "The foundation's latest commitment to expanding market access for smallholder farmers in India builds on our efforts to identify solutions that can systemically help create shared value for all stakeholders." The aim is to enhance farm inputs, ...

Ravish Sinha, senior VP at Flipkart, has resigned. He was the VP of engineering before taking up the role of SVP of supply chain

New funding is part of PhonePe's ongoing capital raise of up to $1 bn, following its domicile shift to India last year

PhonePe, one of India's largest fintech platforms, on Friday said it has raised an additional USD 200 million (around Rs 1,649 crore) in primary capital from Walmart, at a pre-money valuation of USD 12 billion. This new funding comes as a part of PhonePe's ongoing fundraise of up to USD 1 billion in capital, following its domicile shift to India last year. With this tranche, the company has raised USD 650 million (around Rs 5,360 crore) from several global investors, PhonePe said in a statement. The USD 12 billion pre-money valuation makes Walmart-owned PhonePe the most valuable fintech in the country, surpassing payment services provider, Razorpay which was last valued at USD 7.5 billion. PhonePe competes with Google Pay and Paytm. "The company expects further investments, which will be announced in due course," the statement said. "PhonePe plans to deploy these funds to build and scale new businesses like insurance, wealth management, lending, stockbroking, ONDC-based shopping an

Both Apple and Walmart have been quite a political hot potato in India cutting across governments

The new investment is likely to close in a few weeks and help the payments firm compete with Google Pay, Paytm, and Amazon Pay in the Indian fintech space

John David Rainey, CFO Walmart, said during an investor conference that Walmart-owned Flipkart and PhonePe have exciting opportunities and have large portions of market share in India

The deal may result in Flipkart gaining access to technologies of the platform, the people said on condition of anonymity

Weave revival story as knitwear exports rise 11.6% in rupee terms

Accel owns a little over 1 per cent of Flipkart, while Tiger Global holds about 4 per cent of the company

Joins decacorn club as most-valued fintech after topping $12-billion valuation in new funding

The cash infusion is expected to help Flipkart in competing with US-based Amazon for leadership in the Indian e-marketplace

The company said last month it had completed the separation of PhonePe from Flipkart, adding that it would remain a majority stakeholder in both the companies

Investors of Flipkart including Walmart will pay for the cash payout and it will benefit past and present employees of Flipkart, Myntra and PhonePe

PhonePe in talks with parent Walmart, General Atlantic, and other investors to raise about $700 mn

Reliance Retail on Wednesday announced acquiring a 100 per cent stake in German retailer Metro AG

The company is in talks with SoftBank Group Corp.'s Vision Fund, an investor in PhonePe's parent entity Flipkart, although Walmart will remain top investor, the people said