China denounced Walmart for ‘stupidity’ after Sam’s Club, a warehouse retailer pulled all Xinjiang-sourced products from its app in the country. Criticism on Chinese social media exploded, eventually leading a top Chinese anti-graft agency Friday to accuse Sam’s Club of “stupidity” and “shortsightedness,” reported CNN “Pulling all products from a […]
Indian stores shuttered by farmer protests cost Reliance, Walmart millions in revenue
Dozens of Reliance Industries’ retail stores and a giant Walmart outlet face revenue losses of millions of dollars after being forced to shut for more than three months over protests against India’s new farm laws, sources said. Thousands of farmers from states including northern Punjab have camped for weeks on […]
Walmart to create fintech startup with Ribbit Capital
U.S. retail chain Walmart Inc said on Monday it entered a strategic partnership with investment firm Ribbit Capital to create a new fintech startup. The startup, which will be majority owned by the world’s biggest retailer, expects growth through tie-ups and acquisitions with other fintech firms, Walmart said in a […]
Former Walmart chief executive, Royals owner David Glass dies at 84
Former Walmart Inc. chief executive David Glass, who owned the Kansas City Royals for nearly two decades before selling the franchise last fall, died last week of complications from pneumonia. He was 84. The Glass family said the businessman died Jan. 9. He had been dealing with health issues for […]
Google, Walmart help drive India payments past 1 billion transactions
A payments platform created by India’s largest retail banks surpassed a billion transactions in October, a milestone that affirms the tremendous growth of services offered by U.S. giants from Walmart Inc. to Amazon.com Inc. and Google. Indian digital payments took off when the government pushed demonetization in 2016, invalidating most […]