Walmart has agreed to a deal to buy a majority stake in Indian e-commerce giant Flipkart for $16 billion. The U.S. retail giant said Wednesday that it would acquire an initial stake of roughly 77 percent in Flipkart. The remainder of the business will be held by existing investors, including Flipkart’s co-founder Binny Bansal, Tencent, […]

Walmart has reached an agreement to take control of Indian e-commerce firm Flipkart, SoftBank CEO Masayoshi Son said on Wednesday. The deal was reached Tuesday night, Japan time, Son said at a news conference following the release of SoftBank’s earnings report. Son did not disclose further details of the deal. Confirmation of the transaction ends […]

The leaders of China, Japan and South Korea met in Tokyo on Wednesday in a powerful gesture of solidarity against the backdrop of historic diplomatic moves by North Korea and a push for the isolated country to give up its nuclear weapons. Last held in Seoul in 2015, the three-way summit has regularly brought together […]

The U.S. decision to restore far-reaching sanctions on Iran closed the door for a major aircraft leasing company’s plans to do business in the country, according to its CEO. “I think, with yesterday, the opportunity to do business for us is … not there anymore,” Firoz Tarapore, chief executive of Dubai Aerospace Enterprise, told CNBC’s […]

The growth outlook for Asian economies remains strong, but the region is vulnerable to sudden tightening in global financial conditions, further market corrections and a shift towards protectionist policies, the International Monetary Fund (IMF) said on Wednesday. In its regional economic outlook update, the IMF projected Asia to grow 5.6 percent this year and next, […]

Malaysian politicians from both government and opposition camps complained of “dirtytricks” after voting in a general election began on Wednesday, as non-stop spam calls to their mobile phones disrupted communications with party organizers. Malaysian civil rights group Suaram said the spam calls, which have also affected civil society group leaders, was a “clear attempt to […]

Futures pointed to a steady open for Asian stocks on Wednesday after U.S. markets closed little changed following President Donald Trump’s announcement that the U.S. would pull out of the Iran nuclear deal. The Dow Jones industrial average was nearly flat, closing up 0.01 percent, or 2.89 points, at 2,4360.21. The two other major U.S. […]

President Donald Trump‘s withdrawal from the Iran nuclear deal will undermine upcoming nuclear negotiations with North Korea, experts say in the wake of Tuesday’s announcement. Specifically, the president’s move, observers say, could create mistrust ahead of the North Korea talks by fostering volatility and uncertainty. “At the end of the day, can you trust the […]

Carl Icahn and Darwin Deason, shareholders in Xerox who oppose an agreed deal with Fujifilm, said they would consider an all-cash bid of at least $40 per share — a 43 percent premium to the Japanese firm’s offer. In setting a minimum price tag on Xerox, the billionaire investors have thrown the ball back into […]

China said President Xi Jinping has met with North Korean leader Kim Jong Un in a northern Chinese port city. The meeting, held Monday and Tuesday in Dalian, is the second between the two men in recent weeks, following Kim’s March visit to Beijing, his first since taking power six years ago. China is North […]