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India's Trade Deficit Widens, Walmart to buy Flipkart et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Feb 16, 2018 12:36 PM 1 min read
Editorial

End of Day Wrap-up (Friday / February 16, 2018) #tradedeficit #Walmart #Flipkart #Amazon #LIC #Mahindra #Zoomcar #ThomasReuters #Blackstone #SEC #stocks #Transfin

Editor's comment: India’s trade deficit in January rises to 56-month high of $16.3 bn vs $9.9 billion previous year, on back of rising imports of precious stones and crude oil.

 

Walmart in talks to buy 40% in Flipkart; due diligence to start next week. The e-commerce website likely to be valued at more than the $12 billion figure given when Japan’s SoftBank Group Corp.’s Vision Fund took roughly a fifth of the firm last year for $2.5 billion.

 

Car rental startup Zoomcar raises up to INR176 cr in Series C led by automotive giant Mahindra & Mahindra for approximately 16% stake in the company. Existing investors like Ford, Sequoia Capital, Empire Angels, Nokia Growth Partners and others also participated in the round.

 

Thomson Reuters Corp. to go ahead with plans to sell a piece of its business to Blackstone Group for $17 billion despite chairman’s concerns that directors had failed to seek a higher price or consider other potential buyers.

 

Securities and Exchange Commission blocks Chicago Stock Exchange sale to China-based investors, alleging a lack of information on the would-be buyers threatened the ability to properly monitor the exchange after the deal.