Traders body demands scrutiny of proposed Flipkart-Walmart $12b deal

Traders body demands scrutiny of proposed Flipkart-Walmart $12b deal

Traders’ body CAIT on Sunday demanded scrutiny of the proposed USD 12-billion Flipkart-Walmart deal, claiming that it will promote loss funding and predatory pricing in e-commerce sector. It is really unfortunate that in spite of having a clear FDI policy, foreign companies are finding an escape route, whether it is in retail or e-commerce, Confederation of All India Traders (CAIT) said in a statement. The traders’ body took a strong objection to the Walmart-Flipkart deal and demanded the government to form a regulatory authority for e-commerce and till the authority is…

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Stock traders cheer on Bannon exit

Stock traders cheer on Bannon exit

US stocks regained ground on Friday, after it was confirmed President Donald Trump’s polarising adviser Steve Bannon would depart the White House. Three major indexes turned higher in mid-morning trading and were modestly up by early afternoon. Mr Bannon, a right-wing nationalist, helped shape the “America First” message of Mr Trump’s election campaign. He also supported some of Mr Trump’s more radical economic positions. In a recent interview with the left-leaning American Prospect magazine, Mr Bannon said the US was in an “economic war” with China, and called for aggressive…

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