1. News
  2. Explained

Walmart to Announce 51% Acquisition of Flipkart et al

Professor of Financial Economics and Part-time Value Investor, Transfin.
Apr 21, 2018 11:51 AM 1 min read

End of Day Wrap-up (Saturday / April 21, 2018) #RBI #KYC #banks #WorldBank #Walmart #Flipkart #Apple #GeneralElectric #roadtax #Transfin

Editor's comment: Govt proposes new uniform framework for road tax across the country and new National permit for goods and passenger vehicles, labelling it the 'One Nation-One Tax' and 'One Nation-One Permit' proposal. Move positioned as to enable ease transfer of commercial vehicles across state lines. Permit regime for EVs to be more liberal. 


RBI updates its KYC norms for banks and financial entities for the first time since February 2016.  


80% eligible Indians now have bank accounts as per World Bank data but almost half of account holders are inactive in the last one year. Over 10% account holders receive their payroll in cash. 


Walmart reportedly could be announcing its 51% acquisition of Flipkart as soon as next week, with a revised offer in.  


Apple shares tank 4.1% after Morgan Stanley said the company's iPhone sales for June quarter will be below expectations. 


General Electric reports quarterly loss of $1.18bn driven by $1.5bn charge related to its sub-prime mortgage business it once owned. GE expects $5bn-$10bn from asset sales in 2018 as it attempts to turn-around its business.