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4-min read

News18.com Daybreak |16 Billion Walmart-Flipkart Deal, Mallya Declared 'Fugitive' in UK & Other Stories You May Have Missed

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Adrija Bose | News18.com

Updated:May 10, 2018, 9:01 AM IST
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In case of Walmart-Flipkart deal, the withholding tax pertains to the capital gains made by the shareholders of Flipkart.
In case of Walmart-Flipkart deal, the withholding tax pertains to the capital gains made by the shareholders of Flipkart. (Network18 creative)

In case you missed it

US giant Walmart Inc is buying 77 percent stake in Flipkart for about USD 16 billion(Rs 1.05 lakh crore), its biggest deal which will give the retailer access to Indian e-commerce market that is estimated to grow to USD 200 billion within a decade. The deal, wherein co-founder Sachin Bansal and Japan's Softbank Corp Group are exiting, values Flipkart at USD 20.8 billion. It is the biggest M&A deal in India this year.

As the two US giants— Amazon and Walmart— wrestle in the world's fastest-growing major economy, the strange thing is that the technology developed by two Chennai-bred men is at the heart of the war in the land of their birth. Anand Rajaraman and Venky Harinarayan both of who are Chennai-born and both of whom are B Techs from IIT, Madras and PhDs in computer science from the prestigious Stanford University in California, have turned out to be key arms merchants in a global e-commerce war. This is their story. 

Meanwhile, RSS affiliate Swadeshi Jagran Manch wrote to Prime Minister Narendra Modi alleging that US retail giant Walmart was "circumventing" rules for a "back-door entry" into India with its USD 16 billion majority stake acquisition of Flipkart. The group sought the Prime Minister’s intervention to safeguard "national interest".

A thunderstorm lashed parts of western Uttar Pradesh on Wednesday, killing nine people and injuring four others a week after a freak weather system had battered the region.

Embattled liquor baron Vijay Mallya, wanted in India to face charges of fraud and money laundering amounting to around Rs 9,000 crore, can be regarded as a "fugitive from justice", the UK High Court has concluded.

In a departure from convention, Justice J Chelameswar has declined to attend the farewell function to be organised by the Supreme Court Bar Association (SCBA) citing personal reasons. Sources told News18 that the judge claimed he was not comfortable with such events, and cited how he did not want a farewell function even when he was transferred from the Andhra Pradesh High Court.

A day after a morphed video clip depicting Chief Minister Shivraj Singh Chouhan as 'Angad' and Congressmen as Ravana and company caused tension in MP, another doctored clip already started doing rounds on social media. The new video clip mocks the state's top Congress leaders - AICC general secretary Digvijay Singh, state chief Kamal Nath and former Union Minister Jyotiraditya Scindia, as '3 Idiots.'

It is the only helpline of its kind in Kashmir. People reach out to it when their drains aren't working, when they're fleeced shopping online, when they notice suspicious movements in their neighbourhood, and when some of them are looking for ways to shun their guns and surrender. CRPF's Madadgaar helpline (1411) was conceived in July 2016 when following the death of Hizbul Mujahideen commander Burhan Wani a blizzard of protests in the valley snapped almost every communication link between people and the state. The calls just don’t stop coming. This is what the CRPF’s emergency helpline in Kashmir is all about.

The situation in Saharanpur is getting tenser by the minute after Bhim Army regional president Kamal Walia’s brother Sachin was shot by unknown assailants. The victim was rushed to the district hospital but he could not be revived. The Bhim Army had warned residents from celebrating Maharana Pratap Jayanti, leading to 800 police personnel being deployed at the Maharana Pratap Bhawan. The administration, too, was cautious in its approach and only have 200 people permission to celebrate the occasion. Sachin's family members are now claiming that the administration got him killed by giving permission for celebrating Maharana Pratap Jayanti. Last year, Dalits and Rajputs had clashed during the festivities leaving one person dead and 16 others, including one head constable, injured.

Tremors of an earthquake that had its epicentre in the Afghanistan-Kazakhistanborder region were felt in the north Indian states of Punjab, Haryana and Delhi. The quake was felt at about 4:15 pm, a MeT Department official said. "The intensity of the earthquake, which had its epicentre in Afghanistan-Kazakhstan border, measured 6.2 on the Richter Scale," he said.

The Assembly elections in Karnataka are almost here, and politicians are busy slugging it out. So, how well do you know about the Karnataka elections? Take our quiz to find out.

Agree or disagree?

US President Donald Trump put Iran back in the penalty box — but the impact on the oil market could be determined by how China responds. China, a voracious consumer of oil, holds great sway because it's Iran's biggest customer. Almost one-third of Iranian oil shipments this year have gone to China, according to energy research firm Genscape. Trump announced his intent on Tuesday to quit the Iran nuclear deal and reimpose sanctions on the country. Without China on board, efforts to punish Iran may lack teeth. And the impact on the global oil market may be less dramatic than some feared.

The decision of the Telangana government to review the cash-for-vote case that created a political furore in 2015 in the state, is anything but another routine departmental exercise. Given the political personalities involved with the case, the intention to revisit it is deeply political and acquires serious political connotations as it comes just a year ahead of elections. On the face of it, the Telangana government has tried to play it down pointing out that it needs to file a counter to a PIL filed in the Supreme Court by YSR Congress legislator Alla Ramakrishna Reddy, who has sought a CBI probe into the case. It is the Telangana Anti-Corruption Bureau (ACB) that investigated the case.

On reel

Trump pulls the United States of America out of the Iran nuclear deal. What does it mean for India?

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