US retail giant Walmart has invested $560 million in Flipkart, as part of its $1.2 billion round announced in July, regulatory filings made in Singapore show. Entrackr, which first reported the investment on Saturday, cited filings which showed that Walmart had been allotted 39,57,960 equity shares in Flipkart’s Singapore unit at $141.6 per share. The […]
Archives for 2020
Flipkart ropes in 1MG for e-pharma foray
Following Reliance and Amazon India, Walmart-owned Flipkart has now entered the e-pharmacy space. It has partnered with Gurgaon-based 1MG, whose app is now available on Flipkart’s Android app. This means users can order prescription medicines, book doctor consultations and lab tests within Flipkart. The e-tailer’s entry in e-pharmacy is already seeing opposition. The All India […]
Google, Facebook CEOs could face subpoena from Senate Panel
(File photo) The Senate Commerce Committee will vote on whether to subpoena the chief executive officers of Google, Facebook and Twitter because they have declined testify on a legal shield that protects online platforms against lawsuits, a committee spokesperson said. The vote to issue subpoenas for Sundar Pichai of Google, Mark Zuckerberg of Facebook and […]
A Supreme Court confirmation before Election Day would be quick, but not unprecedented
President Donald Trump will nominate Judge Amy Coney Barrett to the Supreme Court on Saturday, NBC News has learned. After that begins the battle over her confirmation. Trump has repeatedly pressed for a vote ahead of Election Day, which this year is Nov. 3. Trump has said that he wants a full court in case […]
‘Big Four’ accounting firm sees upside to climate change – Yahoo Finance Australia
The Czech Republic’s GDP could rise 25 percent by 2100 even under extreme global warming, according to a report from accounting giant Deloitte. More One of the world’s ‘Big Four’ accounting firms released a report this week concluding that extreme, “business-as-usual” climate change will benefit a third of the world’s economies over the course of […]
Prudential fires broker accused of making racist comments in California restaurant
Prudential Securities has terminated a broker who was recently accused of making racist comments towards two patrons in a California restaurant. Sophia Chang, co-founder of a women’s apparel company, claims in a social media post that the man told her to “go back to Wuhan,” a reference to the Chinese city believed to be the […]
State regulators spell out Reg BI priorities amid enforcement surge
Advisors and brokers bracing for examinations under the SEC’s Regulation Best Interest now have tips about what’s going to show up on the test. State regulators will be checking to see how firms have adjusted their practices with respect to conflicts of interest, sales of complex products and investor profile questionnaires, among other areas, according […]
Weekend Reading for Financial Planners (September 26-27)
Executive Summary Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with a striking new study from state regulators finding that broker-dealers are drastically more likely to recommend ‘complex’ investment products than RIAs (from being 2X more likely to use leveraged and inverse ETFs, to 8X more likely […]
‘Devil’s in the details’: How advisors pick a custodian
There’s a lengthy checklist financial advisors complete when going independent, but selecting where to house client assets is possibly the most critical item on it. The decision can entail re-papering client assets, setting up new technology, learning new systems and, ultimately, finding the partner who will make client trades and support an RIA’s growth. Advisors […]
Creating a practice with purpose
As many accounting professionals know, the industry shift to using cloud accounting tools to run our practices is here to stay and has arguably been accelerated due to the COVID-19 pandemic. This change is not only about leveraging technology to drive efficiencies and improve your operations, but represents an opportunity for you to reevaluate the […]