Walmart took a non-cash impairment charge of $290 million for the value of the 'Jabong' trade name in the third quarter, even as the US retail giant continues to bet on the "significant opportunity for growth" presented by the Indian market.The Bentonville-based company logged 2.5 percent rise in revenue at $128 billion for the third quarter, even as its operating income fell by 5.4 percent to $4.7 billion.Its net sales from international operations grew 1.3 percent to $29.2 billion in the said quarter.Close "Excluding the impairment charge related to Jabong, third quarter international operating income was better than plan, but declined 16 percent year-over-year in constant currency and 21 percent on a reported basis due primarily to the expected dilution from Flipkart as well as the overall gross margin..." Walmart Inc EVP and CFO Brett Biggs said in a statement. related news SAIL logs Rs 343 cr loss in Q2 India's PC market grew 15.8% to 3.1 million units in Q3: IDC … [Read more...] about Walmart logs $290 mn impairment for Jabong, sees strong growth from Flipkart, PhonePe
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Traditional investment options rally around mutual funds, the stock markets and gold. The real estate sector, has, over time, yielded good returns over medium and long-term horizons, but with a large inventory overhang in the ready and near-ready segments, the portfolio is in a bind these days. Let us align ourselves to credible real estate investment opportunity, in a micro-market that will be the natural beneficiary of several mega infrastructural projects, and systematically geared for planned migration, growth, and business activity.Traditionally, real estate bears the influence of both macroeconomic and microeconomic factors. While the predominant bias is to de-risk investments and go for RTMI (Ready-To-Move-In) inventory, or commercial units, Grade-A residential real estate in pre-launch stage, bolstered with the right product composition and infrastructural developments, will stay true to the core Indian bias towards property purchase. With a few remnant micro-markets that offer … [Read more...] about Kharghar: A compelling Real Estate option?
Last May, Stephen Colbert shocked teachers in his home state of South Carolina by “flash funding” all of their project requests made via the education crowdfunding platform DonorsChoose.org–a total of $800,000 worth of grants. A few days later, DonorsChoose.org CEO and founder Charles Best got an email from Twitter cofounder Biz Stone saying he wanted to do the same for all classroom projects in his hometown of Boston, and his wife Livia’s hometown of Richmond, California. Stone said he’d already spoken with Jack Dorsey, who agreed to fund all projects in Missouri, and by the way, Ev Williams was on board to cover San Francisco and Nebraska. advertisement advertisement “It was like a behind-the-scenes philanthropic flash mob forming by one person telling another person,” Best told Fast Company. “I said, ‘Let’s keep it a secret and see if some other people would want to join you. Then let’s unleash all of these … [Read more...] about Celebrities Partner With DonorsChoose.org To Fund $14 Million In Teacher Projects
As the reality of the Donald Trump presidency quickly unfolds, many cities are stepping up to position themselves as bastions of decency and rationality. Denver, New York, San Francisco, and Chicago, among others, have declared themselves sanctuaries, committed to protecting their immigrant populations. Places like Portland, Oregon, are superseding climate-change denial and adopting solar power and carbon-reduction policies. Los Angeles is trying to boost mobility for low-income residents through an innovative electric car-sharing scheme. advertisement advertisement One thing that remains very much up in the air is how economic equity can be sustained or supported under Trump. With federal budget slashes looming, cities are bracing for revenue streams–for housing, for food assistance, for infrastructure–to dry up. But a handful of city governments are developing policies to directly support the development of worker-owned cooperatives–an economic model … [Read more...] about How Worker Co-Ops Are Creating Economic Stability In Uncertain Times
In the 1960s, dozens of countries in central and sub-Saharan Africa gained independence from their European colonizers. This kicked off a remarkable period of experimental architecture in these newly sovereign nations, which sought to build cutting-edge buildings for parliaments, universities, and banks to showcase new national identities. advertisement “Architecture of Independence: African Modernism,” an exhibit at the Vitra Design Museum in Weil am Rhein, Germany, looks at revisits those forward-thinking designs, with a focus on the delicate process of mixing past traditions with future goals. Curated by Swiss architect Manuel Herz, it explores more than 80 buildings in Kenya, Côte d’Ivoire, Zambia, Ghana, and Senegal. The works on display represent contradictions inherent in the process of building a newly independent set of countries. Most of the architects commissioned to build these monuments to African modernism were imported from European countries … [Read more...] about The Overlooked History Of Africa’s Architectural Modernism