For Reliance Industries’ Chairman, Mukesh Ambani future belongs to organizations that will lead and leverage the digital revolution. In his address to shareholders in the company’s annual report released on Wednesday, Ambani said, “As technology becomes a driving force in all businesses and facets of life, the future belongs to organizations that can lead and … Read more
Jeff Bezos sold $1.7 billion of Amazon.com Inc. stock, bringing the amount he’s unloaded this month to about $6.7 billion. Bezos sold 521,936 shares under a pre-arranged trading plan, according to U.S. Securities and Exchange Commission filings. That brings the total sold in three batches in May to 2 million shares. He said in … Read more
Zomato said revenue from operations rose from ₹466 crore in FY18 to ₹2,604 crore in FY20. Food delivery app Zomato Ltd., backed by China’s Ant Group, on Wednesday filed a draft red herring prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) to raise ₹8,250 crore. The IPO would comprise fresh issue of … Read more
At Walmart Inc., the robots are losing their jobs. The retailer is phasing out the hulking automated pickup towers that were erected in more than 1,500 stores to dispense online orders. The decision reflects a growing focus on curbside pickup services that have become more popular during the Covid-19 pandemic and continues a broader retreat … Read more
Curbside pickup got a major boost because of the pandemic as customers avoided going into stores. Experts predict that the shift to online grocery delivery will continue even as the pandemic subsides, and COVID-19 advanced the industry several years.I’ve been doing curbside pickup at Walmart since the summer using Walmart’s app. Here’s what it’s like. … Read more
India will require e-commerce firms to treat sellers equally on their platforms and ensure transparency, according to a draft policy seen by Reuters on Saturday that follows criticism against business practices of big online companies. India has been deliberating a new e-commerce policy for months amid complaints from brick-and-mortar retailers who allege online giants like … Read more
The wealth of Mark Zuckerberg, Elon Musk, and others rose beyond $360 billion during the pandemic. Oracle and Dell’s leaders are among the other tech billionaires to have profited last year. Their wealth has attracted scrutiny amid systemic inequality in the US. The pandemic has been a crisis for many, but not for America’s wealthiest … Read more
Demand for shopping savings app Fetch Rewards skyrocketed during the pandemic. That led to an $80 million fundraising haul last November, led by Iconiq Growth. Now, the company is in talks for another round that could more than double its old valuation. Visit the Business section of Insider for more stories. When Wes Schroll went … Read more
A new report by Boston Consulting Group (BCG) says India’s consumption market is back on the growth track after a year, having been disrupted by the pandemic. While growth projection for the consumption market was made before Covid-19 struck, BCG says that the economy has completely unlocked and there has been an uptick in demand … Read more