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Memorial Day 2024:Will US stock markets remain open? Know the trading schedule
Memorial Day holds great significance in the United States, as it is a holiday dedicated to honoring and remembering the men and women who have made the ultimate sacrifice while serving in the U.S. military.
Memorial Day 2024: What will remain open and what will be closed? Here are details
Memorial Day began in the 19th century as Gen. John Logan issued an order in 1868 to observe May 30 as a day of remembrance for those who died serving in the Civil War. While all Northern states recognized Decoration Day as a holiday by 1890, Southern states chose to observe it on separate days.
PhonePe, BharatPe settle legal dispute over 'Pe'
The legal battle began in 2018 when PhonePe issued a legal notice to BharatPe, asking the latter to stop using 'Pe' in Devanagari script in their brand name.
Memorial Day 2024 USA Sale: Walmart, Amazon offer mega deals
Memorial Day 2024 sale in the USA is on and customers can avail lucrative deals from Amazon, Walmart, and other products.
Inspiring! This IIT Kanpur graduate left a high-paying job to become a fitness trainer
Gupta, a graduate of the esteemed Indian Institute Of Technology Kanpur, surprised the world with a daring career transition—she departed from her position at a major multinational corporation to pursue her passion for becoming a fitness coach. Her LinkedIn post garnered widespread attention as she discussed the challenging decision she made and her determination to persevere, even after facing setbacks with her initial startup venture.
Memorial Day 2024 in USA: Is it Federal Holiday? Check what's closed, what is open?
Memorial Day 2024 is here and people are eager to travel and also curious to know what is open and what is closed.
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Google invests $350 million in Flipkart as part of nearly $1 billion funding round
Flipkart secures $1 billion funding with investments from Google and Walmart. Walmart, which holds an 85% stake, invested $600 million in the round. Valued at $35-36 billion, Flipkart plans to expand with Google's cloud collaboration.
Google’s $350-million Flipkart bet; Canva CEO interview
Ecommerce major Flipkart has closed its nearly $1-billion funding round with Google coming on board. More on this in today’s ETtech Top 5.
Memorial Day in the U.S: Date, history, how to celebrate, what's open and what's closed; all you need to know
Memorial Day is a permanent federal holiday. Most banks' branches, including Bank of America, PNC, Truist, CitiBank and JPMorgan Chase, will remain closed on Memorial Day.
Target issues weak forecast as shoppers pull back; shares tumble 10%
Target on Wednesday said it expects consumer caution to persist after it reported quarterly earnings that missed Wall Street estimates and issued a forecast for the current quarter that was also largely below expectations.
Paytm employees warned of potential job losses after hit from RBI probe
Paytm, the Indian fintech pioneer, signalled job cuts and asset trimming after reporting its first sales decline on record due to a regulatory probe. The company's net losses surged to 5.5 billion rupees, with revenue dropping by 2.6%. Paytm aims to recover by streamlining operations and focusing on core businesses.
Singapore court clears Pine Labs plea to move domicile to India
The approval from Singapore's court paves the way for Peak XV Partners-backed Pine Labs to shift its domicile to India. Multiple other companies of Indian origin including Meesho, Razorpay, Zepto and Udaan are in different stages of moving to India. PhonePe and Groww have already completed their migration to India.
Anuj Rathi to take over as CEO of Flipkart-owned Cleartrip
Flipkart is seeing another set of top-deck changes, as it ropes in Anuj Rathi as the new CEO of its travel booking unit Cleartrip, while top executives Prabh Simran Singh and Sankalp Mehrotra are exiting the firm.
Biden's China tariffs are the end of an era for cheap Chinese goods
Biden's decision this past week to codify and escalate tariffs imposed by Trump made clear that the United States has closed out a decades-long era that embraced trade with China and prized the gains of lower-cost products over the loss of geographically concentrated manufacturing jobs. A single tariff rate embodies that closure: a 100% tax on Chinese electric vehicles, which start at less than $10,000 each and have surged into showrooms around the world but have struggled to crack government barriers to the U.S. market.
Amazon, Flipkart to have quick commerce play in certain categories: Delhivery CEO Sahil Barua
Quick commerce platforms like Zepto, Blinkit and Swiggy Instamart are venturing into ecommerce categories such as fashion, electronics, home appliances and luggage, and go beyond just daily essentials and groceries.
Walmart profits rise on strong sales from wealthier shoppers
Walmart reported higher profits Thursday behind solid gains at US stores as the retail giant pointed to increased purchases by wealthier shoppers and improving e-commerce sales. The improved sales to wealthier shoppers reflect a focus on affordable pricing and convenience, as well as a greater attention to products such as fresh food, company executives said on a conference call.
Roadblocks for q-commerce; Mizuho InCred deal
Happy Friday! As quick commerce platforms diversify, they are likely to face operational challenges. More on this in today’s ETtech Morning Dispatch.
US stocks lose steam after Dow hits milestone 40,000 mark
The blue-chip index has recovered from its October 2022 lows, powered by resilient U.S. economic growth despite steep rate hikes by the Fed.
Dow tops 40,000 for first time amid rate cut hopes
The blue-chip index has recovered nearly 40% from its October 2022 lows, powered by strong quarterly results and rising bets of interest rate cuts by the Federal Reserve. At 11:28 a.m. ET, the Dow Jones Industrial Average was up 112.55 points, or 0.28%, at 40,020.55, the S&P 500 was up 13.11 points, or 0.25%, at 5,321.26, and the Nasdaq Composite was up 35.67 points, or 0.21%, at 16,778.06.
Evaluating the right time for Flipkart IPO: Walmart International CEO
During Walmart's quarterly analyst call, chief financial officer John David Rainey said that Flipkart grew by double digits for the first quarter ended April 30.
Walmart lifts full-year sales and profit forecast, shares soar 7% to hit record high
Walmart raised its full-year forecast and reported better-than-expected first-quarter results on Thursday, betting that easing inflation will drive stronger sales of groceries and non-essential merchandise like clothing and electronics, sending its shares to a record high.
Walmart Q1 Results: Co reports profits of $5.10 billion driven by consumers seeking bargains
Walmart Inc. reported another quarter of strong quarterly results Thursday as its low prices pull in shoppers scouring for discounts with inflation stubbornly high.
Walmart lifts full-year sales and profit forecast, shares rally
The company now expects adjusted core profit between $250 million and $270 million, compared to its earlier forecast of $180 million to $200 million.
Wall Street boasts record closes as inflation data fuels rate-cut bets
Tepid U.S. Consumer Price Index (CPI) data for April fueled optimism that inflation was easing after three months of higher-than-expected numbers. This led traders to raise bets that the Fed will cut its policy rate in September and December.
Share of quick commerce in online FMCG sales rockets to 35% in FY24
Quick commerce drove overall ecommerce for these companies as well as the broader fast moving consumer goods (FMCG) industry, company executives said.
Walmart to lay off hundreds of corporate staff, relocate others, source says
Workers at the U.S. retail giant's smaller offices in Dallas, Atlanta and Toronto are being asked to move to other central hubs such as Walmart's corporate base in Bentonville, Arkansas, as well as Hoboken, New Jersey, or Sunnyvale, California, the source told Reuters. Walmart will close those smaller hubs later this year, the source added.
Exclusive: Flipkart maps India redux; talks on to shift domicile from Singapore
Flipkart aims to move domicile from Singapore to India for an IPO. Talks gain impetus for largest local consumer internet company to reverse flip to India. Walmart owns 85%.
Walmart announces launch of dedicated page for Indian sellers
Walmart launches dedicated page for Indian sellers, starting with a global event in Jaipur. Michelle Mi emphasizes empowering Indian sellers for the US marketplace through global supply chains.
Walmart looks to treble sourcing of goods from India to $10 billion a year
Walmart, the multinational retail hypermarket, has disclosed that it has procured goods worth over $30 billion from the Indian market over the past 25 years for its global operations. The company now aims to triple its sourcing from India to $10 billion annually by 2027.
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