Financial News Feed

Christie Arokiaraj, 23, is a welder who works from a small store outside the teeming Krishnarajapuram Railway Station on Bengaluru’s eastern periphery. For nine to 10 hours a day, his gaunt frame is crouched over pieces of metal to meet a steady stream of orders from small businesses and homeowners in the vicinity. His life sparks up after 9 pm, when Arokiaraj gets together with four or five friends and unwinds on platform 4 of the station. Using the free WiFi on offer, the youth use their smartphones to surf the web and check out videos on YouTube, Facebook and WhatsApp, between chat sessions. The latest forwards are exchanged and jokes are sniggered. However, over the past three to four months, another app has caught their fancy: TikTok, the short-video sharing app owned by Bytedance, the world’s most valuable startup that was valued at $75 billion in late 2018. For 20-30 minutes daily, Arokiaraj and his friends watch slapstick comedy, cheer strangers mimicking Tamil and Bollywood movie stars and ogle at women dancing to slow music from far away Madhya Pradesh and Mumbai — all on the app.In the last 12 months that TikTok has been operational in India — including six months when it survived a ban — the upstart has rapidly racked up some 200 million users as of June, according to its own data....

Read more

Who's in and who's out of the Beltway? Amazon is moving into the Washington region, frustrating locals, and parts of the federal government are moving out, frustrating displaced employees....

Read more

Amazon will also match employee contributions to 20 homeless groups for the next three months....

Read more

Flipkart cash burn at $1 billion under Walmart
04:34am, Saturday, 15'th Jun 2019
BENGALURU: Walmart-owned Indian ecommerce company Flipkart has burned nearly $1 billion since the US retail giant acquired a majority stake in it, regulatory filings showed, as it pushes aggressively to stave off rival Amazon for control of the country’s online marketplace. Walmart last week disclosed in regulatory filings that Flipkart had $1.2 billion in cash and cash equivalents on its books as of April 30, down from the $2.2 billion the Indian company held in August 2018 when the US retail giant invested $16 billion for a 77% stake.Of the $2.7 billion in cash globally that Walmart said was not freely transferable to the US, “approximately $1.2 billion can only be accessed through dividends or intercompany financing arrangements subject to approval of the Flipkart minority shareholders,” it said in the regulatory filing. This is essentially cash on Flipkart’s books, which Walmart said would be utilised to fund operations at the lossmaking Indian entity. Flipkart did not respond to ET’s queries till press time Friday.Walmart had disclosed in March that Flipkart had $2.2 billion in cash and cash equivalents in August 2018, part of the Indian company’s $24.1 billion in assets at the time of purchase.ET reported on March 30 that Walmart had attributed 77% of Flipkart’s assets to intangibles and goodwill, highlighting the premium the US retailer had paid to get a foothold in India’s e-commerce market.Flipkart is entrenched in a highstakes battle with rival Amazon, which has poured in close to $5 billion into its Indian entities since 2013....

Read more

NEW DELHI: India has decided to raise import tariffs on 29 goods from the US after having deferred retaliatory higher duties multiple times since announcing them in June last year, said people with knowledge of the matter. The move also follows the US abruptly ending preferential tariffs for some Indian exports earlier this month. Such a move, if implemented, will be taking place just ahead of meetings between US President Donald Trump and Prime Minister Narendra Modi at the G20 summit on June 28-29 in Osaka. Also coming up later this month is a visit by US secretary of state Mike Pompeo to India for bilateral talks with counterpart S Jaishankar. Pompeo said on Thursday that the US was open to discussions on the Generalized System of Preferences (GSP).Higher duties have been proposed on apples, walnuts, chickpeas, lentils, boric acid and diagnostic reagents. The move, which was triggered by the US announcing higher tariffs on Indian steel and aluminium last year, was deferred multiple times in view of the trade dialogue between the two countries.“There will be no further extension of the retaliatory tariffs,” said an official aware of the development, adding that the commerce department and external affairs ministry are on the same page on the decision.Trump has repeatedly called out India for its high tariffs, even though the two countries have developed close political and security ties, often citing levies on Harley Davidson motorcycles....

Read more

Overall, the first quarter has been relatively strong for retailers, so let's look at what investors should expect from Kroger to see if they should consider buying KR stock heading into its Q1 earnings release....

Read more

Insider Picks writes about products and services to help you navigate when shopping online. Insider Inc. receives a commission from our affiliate partners when you buy through our links, but our reporting and recommendations are always independent and objective. VIV Collection's leggings are on Amazon for just $14 , and they are the best I have ever worn. They have a 4.3 star review with almost 4,000 reviews on the online retailer's website. Constructed out of buttery soft and totally opaque fabric and featuring a flattering high waist, they are made to fit women of all shapes and sizes. They're also available in almost 50 colors and patterns. Black leggings are a universal staple in almost every woman's closet. They can be worn a million different ways, day or night, with sneakers or stilettos and still match pretty much anything imaginable — their versatility knows no bounds. However, not all black leggings are created equal — something I've learned the hard way. Throughout my time on this planet, I've spent thousands of dollars on my quest to find the perfect pair — soft as butter but not flimsy, fade-resistant, designed to keep my dreaded muffin-top at bay, and opaque enough to avoid a humiliating wardrobe malfunction....

Read more

This giant, inflatable pool float is shaped like a boat and comfortably seats up to six people. Sun Pleasure 's " 6-Person Inflatable Bay Breeze Boat Island Party Island" also comes with a built-in cooler and eight cup holders so you can have a party out on the water. You can purchase one on Amazon for $319.99. Visit INSIDER's homepage for more stories. From pickle-shaped pool floats to ones shaped like a Taco Bell hot sauce packet , this summer's lineup of floating products may be the most unique yet. Now, you can bring your friends along for the ride. Amazon is selling Sun Pleasure 's " 6-Person Inflatable Bay Breeze Boat Island Party Island," a giant, inflatable pool float that's shaped like a boat and comes with a built-in cooler that can hold everything from snacks to water, soda, and booze. And although the raft comfortably seats up to six people, it has eight cupholders, so some people can have more than one drink if they'd like. Read more : Answer these questions and we'll tell you which beer you'll like best To get in and out of the raft, there's an inflatable step-up platform on the back of the raft....

Read more

When figuring out how much the iPhone X costs, you first have to figure out which of the four different models in the iPhone X family you want, and at what storage capacity. Apple no longer directly sells the iPhone X , but the phone is available through carriers and at retailers starting around $640. The iPhone XR costs $749 for 64GB, $799 for 128GB, and $899 for 256GB. The iPhone XS costs $999 for 64GB, $1149 for 256GB, and $1349 for 512GB. The iPhone XS Max costs $1099 for 64GB, $1249 for 256GB, and $1449 for 512GB. Visit Business Insider's homepage for more stories . Recently, Apple introduced a handful of new models in the iPhone X line. The original iPhone X, released in 2017, is no longer offered directly by Apple (though you can buy it from carriers and a large number of third-party retailers). In addition to the iPhone X, there are now three other models to choose from: the iPhone XR , iPhone XS , and iPhone XS Max. The major features of the iPhone X The iPhone X kicked off the iPhone redesign....

Read more

Insider Picks writes about products and services to help you navigate when shopping online. Insider, Inc. receives a commission from our affiliate partners when you buy through our links, but our reporting and recommendations are always independent and objective. No story of Google's Pixel 3 phones would be complete without mentioning their powerful cameras. All the models in the Pixel 3 family, from the Pixel 3a ($299.99) to the Pixel 3 XL ($900), feature a 12.2-megapixel dual-pixel rear camera. They also include cool camera features such as Night Sight, which let you take impressively crisp low-lighting shots, and Google Lens, which lets you examine real-life products with your phone. If you're considering a new Pixel 3 phone, these nine camera features might convince you to take the leap. In the smartphone world, Google has made a name for itself with the Pixel line and its stunning camera quality. The newest models, the Pixel 4 and Pixel 4 XL, are set to be released soon , but in the meantime, you have plenty of great phones to choose from in the Pixel 3 series....

Read more

Insider Picks writes about products and services to help you navigate when shopping online. Insider, Inc. receives a commission from our affiliate partners when you buy through our links, but our reporting and recommendations are always independent and objective. We love Kindle ebook readers for making reading infinitely more convenient, accessible, and comfortable. The costs of ebooks, however, can add up. If you don't want to spend a lot of money on ebooks or would rather borrow them, these 4 sites and programs can cut down on costs and let you enjoy your reading habit without worrying about financials. The Kindle Paperwhite is one of the best purchases I've made recently because it makes reading so much more convenient and accessible . I wind down at night with a good book instead of scrolling mindlessly through social media, and I see long commutes as an opportunity rather than an annoyance. When I first got my Kindle, I was under the impression that all ebooks were cheap, and while they're certainly more affordable than a paperback or hardcover book, some still go for up to $15....

Read more

Insider Picks writes about products and services to help you navigate when shopping online. Insider Inc. receives a commission from our affiliate partners when you buy through our links, but our reporting and recommendations are always independent and objective. We rounded up the eight best sales and deals happening online today, with savings on the MacBook Air, summer gear at Under Armour, and on Purple mattresses. For even more deals and savings across the web, check out Business Insider Coupons . 1. Save $150 on a MacBook Air from Best Buy The latest MacBook Air is both lightweight and thin, making it easy to travel with or take on the go. It includes a hyper-responsive track pad, touch bar ID, weighs under three pounds, and though it goes for a slightly higher price than older models, we still think it's worth the money . Now, Best Buy is offering $150 off the 13-inch MacBook Air (256 GB), making it an even better value. For even more potential savings at Best Buy, check out the Business Insider Coupons page ....

Read more

The best natural makeup you can buy
05:14pm, Friday, 14'th Jun 2019
Insider Picks writes about products and services to help you navigate when shopping online. Insider Inc. receives a commission from our affiliate partners when you buy through our links, but our reporting and recommendations are always independent and objective. When it comes to natural makeup, it's hard to know which brands you can actually trust. Many products claim to be natural but contain potentially harmful or irritating synthetic ingredients. For a high-performance makeup range that's formulated from natural, organic, and non-toxic ingredients, Jane Iredale is our top pick. Natural beauty has exploded in the past few years. Everyone is talking about "clean beauty" as people have become more aware of the potentially adverse effects of certain synthetic chemicals that are often found in makeup. The more careful people become about what they put on their skin, the more popular natural makeup has become. The biggest difference between "natural " and "synthetic" (or traditional) makeup is the ingredients....

Read more

The best mini fridges you can buy
03:32pm, Friday, 14'th Jun 2019
Insider Picks writes about products andservices to help you navigate when shopping online. Insider Inc. receives a commission from our affiliate partners when you buy through our links, but our reporting and recommendations are always independent and objective. Mini fridges come in all shapes, styles, and sizes … kind of like college dorm rooms and roommates. If you're looking for the perfect mini fridge and you have enough space, the Danby 4.4 Cubic Foot Mini Fridge offers advanced features and enough space to hold all the perishables you could want for an affordable price. Back to school is one of the most popular times to purchase a mini fridge, because many students want a refrigerator in their dorm rooms. But these small refrigerators also work well for offices, rec rooms, and garages. Mini fridges aren't as energy efficient as standard-sized refrigerators, and some don't hold a consistent enough temperature to preserve food safely for long periods. However, for keeping beverages and quickly consumed items cold, it works just fine....

Read more

This is an excerpt from a story delivered exclusively to Business Insider Intelligence E-Commerce Briefing subscribers. To receive the full story plus other insights each morning, click here . Target announced that same-day delivery of 65,000 items powered by its subsidiary Shipt will now be available directly through Target.com. It'll also be available to shoppers without a Shipt membership for a flat fee of $9.99 per order, widening its availability. The retailer is also simplifying same-day delivery by giving eligible items their own dedicated shopping page , allowing shoppers to edit or add to their orders up to 1 hour before delivery, and enabling customers to save several addresses for faster ordering. Here's what it means: Target is increasingly relying on its same-day fulfillment methods. The retailer derived a lot of value from its same-day delivery, curbside pickup, and in-store pickup options last quarter. Target said that the three same-day methods drove over half of the impressive 42% e-commerce growth it enjoyed in Q1 and that they were also responsible for a fourth of the same-store sales growth it saw that quarter, according to CNBC....

Read more

Proudly made at

Rise Vilnius
in partnership with
Barclays Bank