• Walmart said the deal would cut its net income by at least $ 750 million this year and more than double next year.
It's a risky bet for Walmart
• Walmart has repeatedly stumbled upon his case (19659004) • Although India's population is going online fast, the number of people who have enough income to shop online is still tiny.
• Walmart pays a hefty premium to make its way to the US The leading position in India's e-commerce market has not yet outlined any strategy that would keep it ahead of Amazon.
• While Flipkart is currently the market leader, the relatively new location in India is quickly closing the gap.  The Big Winners
• Sachin Bansal. Flipkart's co-founder sells his entire 5.5 percent stake in the company and becomes an instant billionaire.
• SoftBank Vision Fund, the investment vehicle of Japanese billionaire Masayoshi Son, invested $ 2.5 billion in Flipkart in August. That the stake is now sold for about $ 4 billion.
• Walmart was advised by JPMorgan and Barclays on the bank side and Hogan Lovells, Shardul Amarchand Mangaldas & Co. and Gibson, Dunn & Crutcher on the legal side.
• Flipkart was advised by Goldman Sachs and law firms Gunderson Dettmer LLP, Khaitan & Co., Allen & Gledhill LLP and Dentons Rodyk & Davidson
What did AT & T and Novartis want from Michael Cohen?
Washington was overwhelmed yesterday with the news that Michael Cohen's Essential Consultants received $ 500,000 from a mutual fund tied to Russian oligarch Viktor Vekselberg. But AT & T and Novartis were also shown to have paid money to the company – the one that Mr. Cohen paid Stormy Daniels.
AT & T said Essential was "one of several companies we hired in early 2017 to gain insight into the new administration's understanding," and that the deal ended in December. Novartis said his contract will run for a year until February.
There is no connection between AT & T or Novartis and the investigation against Mr. Cohen. But AT & T has operations ahead of the Trump administration, including the offer of $ 85.4 billion for Time Warner. What an unnamed source told the WSJ:
"Immediately after the inauguration [when the] we need someone who knows the administration," said the person. What are their priorities? "
The Atlantic notes that AT & T's $ 200,000 payouts to Essential Consultants put it in the middle of telecom giant's overall lobbying spending for last year.
How Trump's Iran Movement Affects the Global Economy
After President Trump renounced his threat to withdraw from the Iran nuclear deal, the business community has tackled the next task. European companies like Total were considering giving up investments – their governments promised unspecified safeguards – while Boeing and G.E.
In the meantime, oil continued to rise as the US warned buyers to cut their Iranian purchases within six months. (Saudi Arabia, Iran's regional rival, said it would help stabilize markets.)
Peter Eavis & # 39; Opinion: While Trump's foreign policy has not yet caused serious stock market losses, investor stoicism could get bigger soon. Earnings growth for the US company this year is expected to peak in the first quarter. And since neither the E.U. Even China is not afraid to defy Mr. Trump's threats, tensions in global trade will intensify.
The big question: how hard is the US going to crack down on allies who do not deal with sanctions – is that another trade war?
Elsewhere in Iran News: Peter Thiels Palantir helped monitor Iran. Some cybersecurity experts fear that Iran will now hack more.
Vodafone's Big Deal Changes European Telecom Industry
With the purchase of $ 22 billion in Liberty Global cable networks in Germany and Eastern Europe, the UK telecom giant is taking the biggest step towards consolidating the Internet Industry of the continent. Not only will Vodafone be wireless, it will provide high-speed Internet and cable to 54 million customers.
Why this is important, analysts at JPMorgan Chase (via the FT) say:
We believe that this event is a buzzword for the sector, and could potentially contribute to a wave of consolidation across Europe.
Not so fast: Expect that Deutsche Telekom, now in Vodafone's crosshairs, will tackle the transaction.
Other Telecom Related News: Disney's best quarterly results in two years were overshadowed when Comcast amassed a war chest to question its supply of Fox. James Murdoch will definitely not go to Disney. ESPN $ 750 million, five years U.F.C. Streaming Deal shows that sports rights remain very valuable. Sinclair Broadcasting can win Sean Hannity and Jeanine Pirro. SoftBank's recent gains surpassed estimates as Sprint eventually made a quarterly profit.
The Political Revolution
• Richard Cordray, the former CFPB chief, won the Democratic Party nomination for the Governor of Ohio, while Don Blankenship was the former CEO of Massey Energy, came to the Republican Senate Primary in West Virginia. (NYT)
• The House voted to thwart an Obama era rule designed to prevent discrimination against car loaners. (NYT)
• Insurers in some markets are planning huge price increases for Affordable Care Act plans, in part because of the cancellation of their individual mandate. (Axios)
• The tax incentives, the Racine, Wis. Or throw Newark on Foxconn or Amazon are signs of despair, writes Eduardo Porter. (NYT)
• Weapons activists plan to speak at the annual meeting of Sturm Ruger today, but do not expect much change. (NYT)
In the race for Eric Schneiderman
New York lawmakers have been considering replacing the prosecutor, a leading critic of President Trump and Harvey Weinstein, with a woman. Potential candidates include Letitia James, New York's lawyer, and Kathleen Rice, who challenged Mr. Schneiderman for the job. (Ben Lawsky, once New York's top financial regulator, was also mentioned.)
Whoever replaces Mr. Schneiderman must decide whether to continue his actions against Mr. Trump.
And Governor Andrew Cuomo has appointed a special prosecutor – not Manhattan District Attorney Cy Vance Jr. – to investigate Mr. Schneiderman.
Elsewhere in Misconduct in the Workplace: Five more Nike executives have left in a riot over harassment and discrimination. A judge agreed to sell the assets of the Weinstein Company to Lantern Capital. And Martin Sorrell, who left WPP for indefinite charges, plans a new venture.
• Toshiba is reportedly concerned that the Chinese regulator will not approve its $ 18 billion deal to sell its storage business to a Bain Capital-led group. (WSJ)
• Glassdoor, the recruiting site, agreed to sell $ 1.2 billion to Japan's recruit. (Bloomberg)
• Keystone Foods, the main supplier of Chicken McNuggets in the US, is said to have shown interest in Cargill, Tyson Foods and Fosun International. (Bloomberg)
• Billionaire Albert Frère sold its 6.6 percent stake in Burberry, dropping its fashion house share by nearly 7 percent. (Bloomberg)
• Prince Alwaleed bin Talal and Ashkenazy Acquisition agreed to take full control of the Plaza Hotel in New York for $ 600 million. (WSJ)
• TPG Capital is reportedly in negotiations with Anastasia Beverly Hills, a make-up company, for a $ 3 billion valuation. (CNBC)
What does the reorganization of Facebook signal?
The company's largest mainstream products outside of its main app – Instagram, Messenger and WhatsApp – now fall under the Chief Product Officer of Facebook, Chris Cox. A group of emerging technologies, including a new blockchain-focused team, is overseen by Mike Schroepfer, Chief Tech Officer. And ads, staff, safety and growth are led by Javier Olivan, who led the growth efforts.
Although the move was considered for a while, the Cambridge Analytica scandal accelerated these efforts, according to the NYT. And it can streamline the reporting lines and help keep Facebook nimble. But while it makes Mr. Cox particularly important, it does not fundamentally change anything.
Elsewhere in the Facebook News: The company will block political ads by groups outside Ireland before the referendum on abortion. And Jeffrey Zients, an official with the Obama administration, will replace WhatsApp co-founder Jan Koum as director.
Elsewhere in the Technique: Here's a Uber Flying Taxi prototype. The increase in A.I. and cryptocurrencies has created a lack of graphics chips. The industrial future of Japan could be stuff that does stuff. The union-affiliated CtW Investment Group is planning a campaign against several Tesla directors. What other technology giants can do to improve racial diversity. Photo
Nicholas Hunt / Getty Images
• Sally Yates former Deputy Attorney General, has returned to King & Spalding as a specializing in investigation partner. (King & Spalding)
• Jefferies has discontinued Peter Scheman by Goldman Sachs as co-head of Americas Industrial Banking. (Reuters)
The Speed Read
• MoviePass, which earns about $ 21.7 million per month, has $ 15.5 million in cash. (Bloomberg)
• According to reports, Deutsche Bank is considering canceling about a fifth of its employees in the US. (Bloomberg)
• Picasso's Fillette à la Corbeille Fleurie, once owned by David and Peggy Rockefeller, was auctioned for $ 115 million. And a New York judge dismissed a lawsuit against the sale of "Meat and Spirit" by Jean-Michel Basquiat.
• The House of Lords changed Brexit legislation to demand that Britain remain in the European Economic Area. (BBC)
• With the lending of I.M.F. which is still widely blamed for a debt crisis in 2001. (NYT)
• Denver Post's journalists came to Manhattan to protest against the owner of the paper, hedge fund Alden Global Capital. (NYT)
• Nordstrom Rack's President flew to St. Louis to apologize to three black teenagers who had been falsely accused of attempting theft. (NYT)
• Audi, Volkswagen's luxury brand, has found emissions manipulation software in about 60,000 best-selling diesel vehicles. (WSJ)
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