Walmart’s Flipkart to hire 70,000 in India ahead of big shopping event
BENGALURU: Walmart Inc’s WMT.N Flipkart said on Tuesday it would create 70,000 new jobs and employ many more as delivery partners and in other roles as it prepares for a surge in online shopping during the busy Indian festive season. Flipkart, Amazon.com Inc’s AMZN.O Indian unit and Reliance Industries Ltd’s RELI.NS fledgling e-commerce business are […]
Walmart joins Microsoft in bid for video app TikTok
By Joseph Pisani and Zen Soo WASHINGTON: Walmart is the latest company to want a piece of TikTok, the popular Chinese-owned video app that has come under fire from the Trump administration. The world’s largest retailer made a joint bid with tech giant Microsoft to buy TikTok’s US business, according to a person close to […]
Mukesh Ambani takes on Amazon, Walmart in e-commerce gamble
Backed by multi-billion-dollar investments from global tech giants, India’s richest man is ready to rumble with Amazon and Walmart for the country’s huge e-commerce market through his conglomerate Reliance. But it is far from certain that Mukesh Ambani’s latest gamble will pay off in a crowded market where many suppliers are not well-versed in digital […]
Walmart to hire 50,000 more workers in coronavirus-driven hiring spree
NEW DELHI: Walmart Inc (WMT.N) said on Friday it would hire 50,000 more workers at its stores, clubs and distribution centers to meet a surge in demand for groceries and household essentials from consumers stockpiling during the coronavirus outbreak. The retailer said it had reached its earlier target of hiring 150,000 workers six weeks ahead […]
After Amazon, Walmart’s Flipkart challenges India antitrust probe
NEW DELHI: Walmart’s Flipkart has filed a legal challenge against an antitrust investigation ordered against the company in India, a court filing seen by Reuters showed, following a similar petition by its rival Amazon.com Inc. The Competition Commission of India (CCI) in January ordered a probe into alleged violations of competition law and certain discounting […]
Walmart sacks 56 executives in India restructuring
NEW DELHI: Walmart Inc, the world’s largest retailer, has fired 56 of its executives in India as it restructures in the country. The move underscores the challenges Walmart has faced in expanding its wholesale business in India. The US-based company currently operates 28 wholesale stores in India where it sells goods to small shopkeepers, and […]
Walmart to keep selling guns despite recent shootings at its stores
NEW YORK: Despite two deadly shootings at its stores in less than a week, American retail giant Walmart has no plans to stop selling guns and ammunition, a spokesman said Sunday. A man opened fire with an assault rifle at a Walmart in Texas on Saturday, killing 20 people, just four days after a disgruntled […]
Binny Bansal sells Flipkart shares worth Rs 530 crore to Walmart
NEW DELHI: Flipkart co-founder Binny Bansal has sold his shares worth over $76 million (about Rs 530 crore) in the Indian e-commerce major to US retail giant Walmart. Bansal transferred more than 539,000 of his Flipkart shares to Walmart’s Luxembourg-based entity — FIT Holdings SARL, according to business intelligence platform Paper.vc. “Our data, derived from […]
Walmart to pay $282 million for violating anti-corruption rules in 4 countries
NEW DELHI: International retail giant Walmart on Thursday agreed to pay over $282 to various US bodies to settle charges of violating anti-corruption regulations while conducting its business in India, China, Brazil and Mexico. According to the US Security and Exchange Commission (SEC), these violations were conducted by Walmart’s third-party intermediaries who made payments to […]
RIL becoming consumer giant like Alibaba, may rival Amazon, Walmart: Study
NEW DELHI: Oil-to-telecom conglomerate Reliance Industries is evolving from an integrated energy company into a consumer giant like China’s Alibaba and potentially could rival likes of Amazon and Walmart, says a report on Thursday. India’s No1 oil refining and petrochemical company plans to roll out its online shopping platform that will combine its retail arm’s […]
Flipkart co-founder and group CEO Binny Bansal resigns over ‘personal misconduct’
NEW DELHI: Flipkart Group CEO Binny Bansal on Tuesday resigned following an allegation of ‘serious personal miscount’, the firm’s new parent Walmart said. Bansal, who along with Sachin Bansal had co-founded the India’s biggest online retailer Flipkart, “strongly denies the allegation”, Walmart said in a statement. Binny, it said, has resigned as the CEO of […]
Walmart surpasses Amazon as online shoppers’ most popular grocer
NEW YORK: Look out, Amazon: Walmart is coming to steal your lunch —and maybe dinner too. The world’s largest retailer has surpassed the e-commerce giant in a survey of online food shoppers, more of whom said they most recently visited Walmart’s site for groceries. Local supermarkets were in third place, fuelled in part by logistics […]
Walmart to invest Rs 180 crore to improve farmers’ livelihood
NEW DELHI: As part of its initiative to support sustainable livelihood for farmers in India, the Walmart Foundation on Thursday announced investment of Rs 180 crore over the next five years in the country. “The Walmart Foundation, working beyond the Walmart India supply chain, will invest approximately Rs 180 crore ($ 25 million) to improve […]