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Trade War Begins, Paytm, Future Group and Flipkart To Take On Amazon et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jul 6, 2018 12:35 PM 2 min read
Editorial

End of Day Wrap-up (Friday / July 06, 2018) #RIL #Flipkart #PNB #Thyssenkrupp #TataSteel #Paytm #FutureGroup #Amazon #TradeWars #US #China #Boeing #Transfin

Editor's Comment: RIL to take on Amazon and Flipkart with new e-commerce venture based on technology platform Jio and physical space Reliance Retail. Mukesh Ambani says this hybrid e-commerce platform will bring together customers of reliance retail and reliance Jio together.

 

PNB recovers INR8, 450cr in Q1 as they claim to bounce back within the next 6 months in the words of PNB CEO Sunil Mehta. This recovery comes with resolution of two cases, Bhushan Steel and Electrosteel Steels worth 5774cr together. They also look forward to recovering dues from Nirav Modi as well.

 

Thyssenkrupp CEO Heinrich Hiesinger steps down after merger with Tata Steel. He has asked the board to end his contract on a mutual agreement. This joint venture will be second largest steel firm after ArcelorMittal.

 

Paytm, Future Group and Flipkart plan $100mn content investment to take on Amazon. The investment will be used to generating and acquiring content from various sources as well. Paytm is planning to invest $30mn entertainment services and live TV. Future group to create a separate vertical of entertainment services entirely incorporating AI and machine learning.

 

Global trade war heats up as US tariffs worth $34bn on China goods start from today; China also retaliates with equivalent tariffs as the trade war officially started today. Donald Trump has stated the tariffs may go upto $500bn, equivalent to the goods imported from China last year.

 

Boeing to take over Embraer’s Commercial-Jet business for $4.75bn, creating a parity with rivals Airbus who acquired Bombardier’s C Series regional jet programme. The deal should be completed by 2019.