By Aditya Kalra, Aftab Ahmed and Anirban Sen NEW DELHI (Reuters) – Walmart’s Indian e-commerce company Flipkart has internally raised its IPO valuation target by around a third to $60-70 billion, and now plans a U.S. listing in 2023 instead of this year, two sources with direct knowledge of the plan told Reuters. Flipkart, which …
NEW DELHI (Reuters) – Sri Lanka must look to restructure a $1 billion international sovereign bond maturing in July, said Ali Sabry, who recently submitted his resignation as finance minister amid a massive economic crisis. Sabry told parliament the country should seek a financial bailout, debt moratorium or some other means to address the crisis. …
(Reuters) -JD.com Inc promoted its president, Lei Xu, to chief executive officer on Thursday to succeed founder Richard Liu, officially handing Xu the reins of the Chinese e-commerce company after he performed the role for several months. Xu, who has worked at JD.com for more than a decade, will start the top job immediately, the …
China’s JD.com promotes Lei Xu to CEO as founder Liu steps back Read More »
TOKYO (Reuters) -Japanese retailer Seven & I Holdings Co said on Thursday it would revamp its board of directors as it seeks to accelerate overseas growth. The operator of 7-Eleven convenience stores has been under pressure from activist fund ValueAct Capital to make structural reforms and sell off assets. The company said in a statement …
Japan’s Seven & i to reshape board as part of focus on global expansion Read More »
JAKARTA (Reuters) – Indonesia’s state energy firm PT Pertamina said on Thursday it had signed a joint study agreement with Japan’s Mitsui & Co Ltd for commercialisation of carbon capture, utilisation and storage (CCUS) in the central Sumatra region. The two companies would also explore the possibility of a long-term partnership in decarbonsation and transitioning …
Indonesia’s Pertamina, Japan’s Mitsui agree to conduct carbon capture study Read More »
By Paresh Dave OAKLAND, Calif. (Reuters) -Microsoft Corp’s LinkedIn boosted subscription revenue by 8% after arming its sales team with artificial intelligence software that not only predicts clients at risk of canceling, but also explains how it arrived at its conclusion. The system, introduced last July and described in a LinkedIn blog post https://engineering.linkedin.com/blog/2022/the-journey-to-build-an-explainable-ai-driven-recommendation-sys on …
AI is explaining itself to humans. And it’s paying off Read More »
By Ann Saphir and Lindsay Dunsmuir (Reuters) -The Federal Reserve might have raised interest rates by half a percentage point last month to deal a more decisive blow to soaring inflation, but Russia’s invasion of Ukraine gave policymakers cold feet, minutes of the U.S. central bank’s March meeting showed on Wednesday. “Many participants noted that …
Russia’s hot war gave Fed cold feet about bigger rate hike Read More »
(Reuters) – The U.S. Securities and Exchange Commission (SEC) is investigating how Amazon.com Inc handled employee disclosures on the use of third-party sellers’ data purportedly to boost its own private-label business, the Wall Street Journal reported on Wednesday. The federal regulator’s enforcement division has asked for emails and communications from several senior Amazon executives, according …
SEC probes Amazon’s handling of employees’ use of sellers’ data for private labels – WSJ Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar surged to a nearly two-year high on Wednesday after minutes of the last Federal Reserve meeting reinforced expectations of multiple half percentage-point rate increases to control soaring inflation. The dollar index, which measures the greenback’s value against six major currencies, climbed to 99.7780, its strongest level …
U.S. dollar climbs to near two-year peak on prospect of sizable Fed rate hikes Read More »
LONDON (Reuters) – The International Energy Agency on Wednesday said its member countries had agreed to release 120 million barrels of oil, with the United States contributing half, in a bid to cool oil prices after Russia’s invasion of Ukraine. “The @IEA is moving ahead with a collective oil stock release of 120 million barrels …
IEA confirms 120 million barrel oil release with U.S. Read More »
