Business News

walmart to sell chinese e commerce business to JD.com

Walmart uses AI scan technology to stop shoplifters

The technology is being used by over 1,000 Walmart stores and the company says it has reduced the amount of money it has lost to theft and missed item scans.

Jun 24, 2019

By Wesley Dockery

Binny Bansal sells Flipkart stake worth Rs 531 crore to Walmart

Sachin Bansal, the co-founder of Flipkart, has sold all his shares to Walmart for $800 million to $1 billion.

Jun 24, 2019

By Chetan Priyadarshan

Mercedes Benz recall 2019: 60,000 GLK 220 recalled over faulty software

The company, however, said it will appeal against the decision while continuing to cooperate with the BMVI.

Jun 24, 2019

By Arthur Villasanta

France's Carrefour takes step to leave China with Suning.com deal

Walmart Inc sold its online shopping platform to JD.com in 2016 in return for a stake in JD.com as the U.S. retailer focused on its bricks-and-mortar stores.

Jun 24, 2019

By Reuters

Goldman feels the heat in Asia as IPO engine slows

Malaysia's 1MDB criminal case against Goldman Sachs delayed to September

The U.S. Department of Justice estimates $4.5 billion was misappropriated from 1MDB between 2009 and 2014, including some of the funds that Goldman Sachs helped raise.

Jun 24, 2019

By Reuters

Which Dressbarn stores are closing in 2019? A full list of locations

Twenty-eight Dressbarn stores will shut down between June and July of this year.

Jun 23, 2019

By Wesley Dockery

Is Jeff Bezos and Amazon set to take over the world?

Amazon patents surveillance drone technology that records video of property

Amazon also announced this past week that it will team up with robotics delivery startup Nuro to deliver pizzas and other goods.

Jun 23, 2019

By Wesley Dockery

China needs nearly $440 billion to clean up rural environment

China is desperate to bring more of its scarce farmland back into use to maximise agricultural production, especially as the country continues to urbanise.

Jun 23, 2019

By Reuters

Xi Jinping becomes most powerful Chinese leader since Mao

China's President Xi to attend G20 summit from June 27-29 -Xinhua

The G20 summit will be held in the city of Osaka on June 27-29.

Jun 23, 2019

By Reuters

Vestiaire Collective raises €40 m additional funding to provide technology solutions for further international growth

Bpifrance leads the funding round, alongside new Vestiaire Collective CEO Max Bittner.

Jun 22, 2019

By IBTimes SG Desk

SL Capital launches Sky Everton, tomorrow's most favourable address in District 2

Sky Everton is conveniently located; with a short 2-minute walk to the upcoming Cantonment MRT station (Circle Line) and is close to Outram MRT with 3 other MRT Lines.

Jun 22, 2019

By IBTimes SG Desk

Chinese smartphone vendors begins losing buyers

Huawei files lawsuit against U.S. Commerce Department over seized equipment: filing

In the lawsuit, Huawei said that it shipped telecommunications equipment from China, including a computer server and Ethernet switch, to a testing laboratory in California.

Jun 22, 2019

By Reuters

Huawei

China state media urges US to drop win-at-all-costs trade stance

The Chinese Communist Party's newspaper urged the United States to cancel all tariffs on Chinese goods, saying the only way to resolve trade issues was through "equal dialogue".

Jun 22, 2019

By Reuters

Asian stocks fail to catch Wall Street's Fed rally as trade angst persists

Investors have pinned hopes on the United States and China reaching some sort of compromise at the sidelines of the G20 summit in Japan on June 28-29.

Jun 21, 2019

By Reuters

An LNG tanker passes boats along the coast of Singapore

Singapore's Pavilion Energy to acquire LNG assets of Spain's Iberdrola

The portfolio comprises about 4 million tonnes per annum (mtpa) of Iberdrola's long-term LNG sale and supply contracts.

Jun 21, 2019

By Reuters

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