BUSINESS

Flipkart 's valuation has declined by $5 billion or around Rs 41,000 crore as of January 2024 compared to that in January 2022, according to equity transactions carried out by its US-based parent firm Walmart. The valuation of the ecommerce firm declined to $35 billion as of Jan 31, 2024, from $40 billion in the financial year ended on January 31, 2022.Flipkart, however, attributed the decline in valuation to the demerger of PhonePe into a separate company
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2 years ago Read more at The Economic Times

India's current economic growth rate, driven by a surge in investments, is similar to the period between 2003 and 2007 when the country witnessed an average growth rate of over 8 per cent.In the 2003-07 cycle, this ratio rose from 27 per cent in Fiscal Year 2003 to 39 per cent during Fiscal Year 2008, reaching a peak.It is expected to further increase to 36 per cent by Fiscal Year 2027.
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2 years ago Read more at The Times of India

Petrol and diesel prices are the costliest in Andhra Pradesh, Telangana and Kerala. Diesel is the cheapest in Andaman & Nicobar Islands, Delhi and those in the North East. The price cut is relatively modest and seems unlikely to be followed by more (at least near term)
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2 years ago Read more at Business Today

Stock markets experienced a difficult trading week as the indices closed trading in the red after erasing the gains from the week. The BSE Sensex closed the last trading session at 72,485, down by over 450 points, while the NSE Nifty50 stood 123 points lower at 22,023. In the week ahead, investors will keenly be on the lookout for foreign fund flows, rupee-dollar movements, the outcome of the US Fed policy rate meeting, along global trends.
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2 years ago Read more at ABP Live

In 2019, Moumita Urias-Roy and her husband started their own delivery business in Austin, Texas. They pay drivers more than larger apps but say it's been challenging to compete with those companies. Advertisement This as-told-to essay is based on a conversation with a former delivery worker in Austin.
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2 years ago Read more at Business Insider

Nikon is a key technology solutions company in a global society where humans and machines co-create seamlessly. It has been one year since the event last year, during which Nikon exhibited at the CES held in Las Vegas, U.S.A. The Next Generation Project Division stands as a pivotal unit. The company is actively pursuing enhanced business synergies with Morf3D, a trusted leader in metal additive manufacturing (AM)
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2 years ago Read more at Nikon

Brady Street Futons announced it will be closing its doors after 31 years of calling the iconic Brady Street home. The unique storefront has won many awards such as “Best of Milwaukee” but to Bauer, the real prize has been building relationships in the community. Bauer said he plans on closing the shop at the end of March.
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2 years ago Read more at WDJT

Vianet Group has an ROCE of 3.3%. In absolute terms, that's a low return and it under-performs the Electronic industry average of 13%. Investors must expect better things on the horizon though because the stock has risen 0.8% in the last five years.
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2 years ago Read more at Yahoo Finance

McDonald's hasn’t disclosed how widespread the outages were, but on Friday afternoon, a franchise in San Antonio, Texas wouldn’t accept orders in its app. On Friday, McDonald’s said the outage was caused by an unnamed third-party provider during a "configuration change. The burger giant did flag that something like this could happen, at least to Wall Street.
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2 years ago Read more at Daily Sabah

Baidu owns the country's leading search engine, while Alibaba operates its largest e-commerce marketplaces and its most widely used cloud infrastructure platform. Baidu is trying to counter that trend by expanding its Managed Business Pages, which enable companies to run their own online stores and websites. For 2024, analysts expect Baidu's revenue and earnings to rise 8% and 15%, respectively, in fiscal 2024.
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2 years ago Read more at The Globe and Mail