Walmart has completed its Flipkart investment
- Walmart and Flipkart have announced the closing of the agreements for Walmart to invest $16 billion in the Indian e-commerce platform.
- With the completion of the investment, Walmart becomes the majority stakeholder in Flipkart, with an approximately 77% share of the company.
- Flipkart's current management team will remain in charge of running the company, and both Walmart and Flipkart will retain their unique brands in India.
- Working with Flipkart may give Walmart a more local image that could help it succeed in India.
- Now that it's working with Flipkart, Walmart could potentially deepen its relationship with kiranas, perhaps using them for distribution or delivery.
- This could enable the retailer to make a more personal connection with Indian consumers, helping it to more effectively gain their confidence and, by extension, a larger slice of India's retail market share.
Another Wall Street bank has dropped coverage of Tesla — and it could be a sign Elon Musk is making progress in taking the company private
- Morgan Stanley has dropped research overage of Tesla in what could be another sign of Elon Musk's electric-car company tapping banks for financial services in its bid to go private.
- The bank's autos analyst, Adam Jonas, is known for producing some of Wall Street's more entertaining research reports on everything from a potential SpaceX Tesla merger to a breakup of General Motors.
- Until recently, he was a major Tesla bull, with a price target as high as $379 — before cutting it to below $300 in recent weeks.
- Tesla's stock price has whipsawed in the two weeks since Musk first tweeted his plan to take Tesla private at $420 a share.
- After initially skyrocketing to $389 —near record highs — shares briefly fell back below $300 on Monday following a slew of securities fraud lawsuits and a reported subpoena from the Securities and Exchange Commission.
Iran just unveiled a new fighter jet to make sure its military is 'ready to fight' the US
- Iran unveiled a new fighter jet Tuesday, claiming that the "state-of-the-art" aircraft strengthens the country's ability to stand up to the US.
- Iran's Tasnim News Agency claims the new aircraft is a "100 percent indigenously-made" fourth-generation fighter with "advanced avionics," according to AFP.
- The plane has reportedly already been through testing and is expected to fly for the first time Wednesday in honor of National Defense Industry Day. Facing international sanctions, Iran has been forced to develop a domestic arms industry, as it can no longer reliably import platforms from overseas.
- With only a few dozen suitable aircraft, mainly older Russian models and American F-5s acquired before the 1979 Iranian Revolution, the Iranian Air Force has limited strike capabilities.
- The new "Kowsar" fighter jet is expected to carry out short aerial support missions.
Amazon just removed one of the best features from Amazon Prime, and Twitch users are furious
- Put more simply, even Twitch Prime paying subscribers will see ads on Twitch streams.
- The only way to remove ads from the Twitch experience now is to pay even more for Twitch Turbo, a separate subscription service for Twitch which costs $9/month.
- As the latter post alludes to, Twitch Prime began offering free games and in-game content to subscribers recently.
- Much of the time, these free games and/or in-game content are less than thrilling — loot box partnerships that Amazon strikes with game makers like Blizzard Entertainment for "Overwatch," for example.
- Getting free loot boxes for "Overwatch" is nice, but it's not a strong argument for paying for Twitch Prime.
- More importantly, Sony and Microsoft offer excellent free games through PlayStation Plus and Xbox Live Gold every month.
- By comparison, the offerings through Twitch Prime are paltry at best.
RBC: Hedge funds are piling into these 12 stocks unlike any others on the market
- The most popular stocks among hedge funds saw little turnover during the second quarter, according to regulatory filings parsed by RBC Capital Markets.
- Tech stocks like Facebook and Microsoft remained the darlings even after much public scrutiny over how they handle users' data.
- Beyond the most popular names, RBC also examined the stocks that hedge funds added the most new positions in last quarter.
- Lori Calvasina, RBC's head of US equity strategy, calls these rockets.
- The list below highlights the stocks that hedge funds piled into during the second quarter, in ascending order of the number of new positions.
- It's based on RBC's study of 340 major hedge funds.
- It comes with the usual disclaimer that hedge funds may have changed their positions since the quarterly 13-F filings were released.
A zombie movie has made 250 times its budget at the box office in Japan, and has a 100% score on Rotten Tomatoes
- According to The Hollywood Reporter, the movie — which was written, directed, and edited by local filmmaker Shinichiro Ueda in eight days — has made over 250 times its budget at the Japanese box office, where moviegoers receive discounts for repeat viewings and showing up in zombie costumes.
- Despite an unknown cast and a micro budget, the movie has managed to gain plenty of buzz with audiences and critics alike.
- According to THR, it got a standing ovation and won the Audience Award at this year's Udine Far East Film Festival in Italy.
- It also has a 100% critic score on review-aggregator site Rotten Tomatoes based on 10 reviews, including from Indiewire, Variety, and THR.
- Variety called it a "marvelously inventive horror-comedy" that "breathes new life into the zombie genre." It also has a 100% audience score based on 23 user ratings.
The best sleeping bags you can buy
- When choosing the best sleeping bag, there are a few basic considerations you have to make, including your size relative to a given option, the temperature rating of the bag, the likely temperatures of the places in which you'll use it, and your personal requirements for comfort.
- A review from the blog of trusted outdoor gear retailer REI didn't hold back with praise for the Mountain Hardware Lamina Z Bonfire, celebrating its heat retention and lack of cold spots, though their testers did point out the bulky size of the bag even when it is compressed for packing.
- It's rated as a zero-to-ten-degree Fahrenheit bag, and details like a full-length draft tube placed behind the zipper and a drawstring hood help keep the heat inside the bag where you need it.
Half the US presidents were born in 4 states. These are the 21 states that have produced the most presidents.
- When President Donald Trump was took office, he became the fifth US president to hail from New York.
- The Empire State now has the third-most presidents to call its own.
- It's one of four states that have produced half of the 44 US presidents, along with Virginia, Ohio, and Massachusetts.
- Many presidents, including Barack Obama and George W.
- Bush, later moved to and identified with other states.
- For example, former President Barack Obama was born in Hawaii, but he later moved to and was a senator from Illinois.
- Bush is primarily affiliated with Texas despite being born in Connecticut.
- Here are the 21 states that produced all the US presidents.
Internal documents reveal the grueling way Tesla hit its 5,000 Model 3 target
- Internal documents show that Tesla had to rework more than 4,300 of the 5,000 Model 3 vehicles it built during the last week of June when it hit its critical production target.
- During the week of June 23rd, Tesla reworked a little over 4,300 Model 3 vehicles, according to internal documents.
- What's more, Harbour said, the amount of rework required for each car adversely impacts a plant's overall labor productivity, which is determined by dividing total hours of human labor worked by the number of vehicles produced in the plant.
- Tesla CEO Elon Musk said during the company's second-quarter earnings call on August 1 that the company produced 5,000 Model 3 cars multiple times in July.
- The most common reason why Model 3 cars require rework is because of a "failed manual task," followed by cosmetic issues.
Nike has a new way to try on sneakers at its stores without talking to anyone. Here's how it works.
- LOS ANGELES — Nike knows customers want to try before they buy, so it's making that a little easier to do.
- The world's largest sportswear seller has debuted a new way to request shoe try-ons in stores, along with new functionality in its smartphone app.
- Each shoe has a little barcode inside, which can be scanned using a feature on the app.
- The feature is currently being piloted in a few West Coast stores before Nike rolls it out to the rest of its retail footprint.
- On a recent trip to Los Angeles for the opening of Nike's newest concept at the Nike by Melrose store, I took the opportunity to check out how the app works in practice.
- Scan-to-try is part of a suite of features Nike is launching on a small scale, then rolling out to the rest of its stores.