As part of the deal, Walmart will initially appoint five directors to Flipkart’s board, two directors will be named by minority shareholders while Bansal will take one board seat, according to the filing. Walmart said it may, in future, appoint a sixth board member with the approval of the majority of the Flipkart directors. It
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AT&T on Friday ousted its top lobbyist, and the No. 2 wireless carrier’s chief executive said it was a “big mistake” to hire Michael Cohen, President Donald Trump’s personal attorney, for advice on working with the Trump administration. AT&T paid Essential Consultants, a firm set up by Cohen, a total of $600,000 over 2017 for
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Also, she’s asked that shareholders vote against approving the company’s executive compensation plan — the so-called say on pay. Three independent proxy advisory firms — Institutional Shareholder Services, Egan-Jones Proxy Services and Glass Lewis & Co. — have come out in support of her position on rejecting the say-on-pay proposal and to withhold votes from
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With the stock market locking in the largest weekly gain since March, CNBC’s Jim Cramer wondered if newfound optimism around trade and U.S.-China relations could continue. “To some degree, I think that’s wishful thinking,” the “Mad Money” host admitted on Friday. “But, hey, wishful thinking worked when it came to the unlikely progress between North
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Even some potential victims of modernisation have been borne in mind. Mikael Karlsson, a former driver and football coach, displays a fan of glossy homeless charity magazines and sports an ID badge with a QR code. Anyone wanting to buy a copy just has to scan the code with their app. “When I started, I
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Walmart: Calling Walmart’s recent $16 billion investment in Indian e-commerce play Flipkart “one of the gutsiest moves this company has ever made,” Cramer said the stock’s weakness in response was “ridiculous.” “With China dominated by Alibaba and the U.S. the province of Amazon, Walmart needed to try to take a piece of the second-most-populous country
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Ford Motor could resume production of its best-selling F-150 pickups as early as Friday, May 18 in Dearborn and Kansas City, according to a source familiar with the automaker’s plans. Ford shut truck plants in Michigan, Missouri and Kentucky earlier this week because of parts shortages caused by a supplier fire in Michigan. Also on
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Health-care stocks whipsawed on Friday as President Donald Trump unveiled his long-awaited plan to lower prescription drug prices, dubbed “American Patients First.” The sector briefly turned negative before closing 1.5 percent higher. Shares of Express Scripts and CVS both hit session lows before rising 2.6 percent and 3.2 percent, respectively. Dow Jones industrial average components
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Prices for many prescription drugs may be high, but CNBC’s Jim Cramer argued Friday they might be worth the cost. “Some of the drugs are lifesaving,” Cramer said on “Squawk on the Street.” “That’s very hard to put a price on.” Cramer’s comments came ahead of President Donald Trump‘s scheduled announcement Friday afternoon of a
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Effective immediately, some consumers may have a higher credit score. Because of improved standards for utilizing new and existing public records, the three major credit reporting companies are now excluding all tax liens from credit reports. That means some scores will head higher, for some by as much as 30 points. Credit scores, notably those
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The world’s largest steelmaker ArcelorMittal said the outlook for 2018 had improved after a sharp pick-up in steel prices and increased iron ore shipments helped it deliver higher-than-expected first-quarter earnings on Friday. The group did not give a specific forecast for its own prospects but repeated that it saw 2018 global apparent steel consumption, which
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Thomson Reuters on Friday reported slightly higher-than-expected first-quarter sales and earnings, and forecast low-single-digit growth in 2018 revenue in its remaining business. The news and information company announced earlier this year that it is selling a majority stake of its financial & risk unit to private-equity firm Blackstone. Thomson Reuters reported quarterly revenue of $1.38
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