Google will invest $550 million in Chinese e-commerce powerhouse JD.com, part of the U.S. internet giant’s efforts to expand its presence in fast-growing Asian markets and battle rivals including Amazon.com.
French retailer Carrefour, which opened its first high-tech store in Shanghai last month in partnership with tech giant Tencent, sees China as the ideal location to develop new methods for attracting shoppers.
Walmart Inc said in a filing with a U.S. regulator that it may take India’s Flipkart public in as early as four years, detailing for the first time a potential listing timeline for Walmart’s largest-ever acquisition.
Walmart Inc has agreed to pay $16 billion for a roughly 77 percent stake in Indian online shopping site Flipkart, the U.S. retailer’s biggest foreign investment ever as it battles rival Amazon.com Inc.
Chinese internet giant Tencent will announce a cultural trade deal with Britain, including fashion, deepening cooperation between the two countries and setting the stage for its own international expansion moves.
Alibaba Group Holding Ltd reported better than expected top line results on Friday, driven by strong sales in its commerce and cloud computing units, even as margins were squeezed by flurry of investments.