Walmart s Flipkart raises fresh funds for $38 billion valuation as IPO looms
Reuters | Jul 12, 2021 10:55 PM EDT
The logo of India s e-commerce firm Flipkart is seen in this illustration picture taken (Photo : REUTERS/Danish Siddiqui/Illustration)
Walmart Inc-owned Flipkart on Monday ushered back SoftBank Group Corp as an investor in a $3.6 billion funding round, doubling the Indian online retailer s valuation to $37.6 billion in less than three years and ahead of its expected market debut.
The U.S. retail giant bought a 77% stake in Flipkart for $16 billion in 2018 and since then has expanded to small towns and cities, added more items such as furniture and grocery to its online store and increased its warehouses in its race with Amazon.com s India unit.
Alex Ruus Top Picks: July 2, 2021
We re #28! TSX rides commodity rally to outpace Dow Industrials
U.S. stocks climb as jobs report dims hawkish Fed bets
Colin Stewart s Top Picks: June 30, 2021
U.S. stock euphoria abates at end of big first half
Bruce Campbell s Top Picks: June 29, 2021
Lorne Steinberg s Top Picks: June 28, 2021
Wall Street and C-Suite grapple with a meme-stock new normal
Haters everywhere in stock market after S&P 500 s big first half
Larry Berman: Warning, the making of the Mother of all crashes
Ryan Bushell s Top Picks: June 25, 2021
Banks easily clear U.S. stress tests, setting stage for payouts
High stock price valuations may be giving some investors pause, but it hasn’t stopped U.S. corporations from plowing even more cash into their shares.
Morgan Stanley and Wells Fargo Inc. are among the nation’s biggest lenders that signaled this week they’re stepping up repurchases and raising dividends after passing Federal Reserve stress tests with flying colors.
Banks are joining the party after buybacks rose sharply in the first three months of the year, capping several quarters of gains following a pandemic-related dip in 2020. The moves bode well for stocks since buybacks are a direct way to boost share prices and companies are flush with cash as the U.S. economy rebounds from a year of lockdowns.
Thursday, 08 Apr 2021 07:32 AM MYT
Traders work on the floor at the New York Stock Exchange. Reuters pic
Subscribe to our Telegram channel for the latest updates on news you need to know.
NEW YORK, April 8 ― Wall Street s main indexes dipped in choppy trading yesterday as investors cautiously awaited minutes from the Federal Reserve s meeting last month that could offer clues on the central bank s views on inflation and an economic recovery.
The industrials, materials and healthcare sectors weighed the most on the S&P 500.
Massive fiscal stimulus and swift vaccinations prompted several Fed officials at the meeting last month to project interest rate increases as early as next year, opening up a gap with those who do not see rates rising until 2024 at the earliest.
4 Min Read
NEW YORK (Reuters) - Major averages hovered near unchanged on Wednesday, with the S&P 500 closing up slightly after the Federal Reserve released minutes from its most recent meeting that reinforced the U.S. central bank’s position to remain patient before raising rates.
The major indexes held near unchanged for most of the day but the S&P 500 briefly climbed to a session high after the minutes, in which Fed officials said it would likely take “some time” for substantial further progress on goals of maximum employment and stable prices.
The gains were minor and short-lived. Many market participants question whether the Fed will hold off so long on a rate hike.