Wal-Mart partners with Microsoft to battle Amazon.com

The partnership will enable Wal-Mart to boost its online presence and tap into Microsoft’s repertoire of cloud services and advances in artificial intelligence technologies which could potentially enable it to provide customers at its brick and mortar stores cashier-less checkouts. On Tuesday, Walmart Inc, the world’s biggest brick-and-mortar retailer, disclosed it had entered into a…

Hong Kong’s banking regulators along with several banks to launch blockchain-based trading platform

In a landmark development that is aimed at streamlining, boosting efficiency and which introduces next-gen technology in the financial services sector, for the first time a government-led efforts along with players from the financial sector industry are collaborating to launch a blockchain-based trade and finance platform. The banking industry is known for its insistence on…

KKR & Co agrees to purchase minority stake in AppLovin Corp for $400 million

KKR’s investment will allow AppLovin to grow as it places systemic structures that will enable to become a public limited company. Private equity firm KKR & Co disclosed it will acquire a minority stake in AppLovin Corp for $400 million. The development comes in the wake of Washing forcing the U.S. mobile marketing firm to…

China’s Didi Chuxing Technology Co Ltd likely to spin-off ride hailing services worth around $1 billion-$1.5 billion

Didi Chuxing, which gained prominence in China after it bought Uber’s operation in China, is also diversifying in the food delivery services. According to several sources with direct knowledge of the matter at hand, China’s Didi Chuxing Technology Co Ltd, a ride hailing firm, aims to spin off its car services unit ahead of its…

Boeing Expresses ‘Concerns’ About Escalating Trade Row Between US-China

The escalating US-China trade row could lead to potential damage of business, warned the head of US aerospace and defence giant Boeing. “Aerospace thrives on free and open trade,” said the company’s chief executive Dennis Muilenburg. Concerns that costs for aircraft manufacturers could be pushed up were expressed by him. “The aerospace sector drives economic…

Financial Stability Board unveils monitoring framework for crypto-assets

Their framework focuses on ways risks from crypto-asset markets could potentially spread to other parts of the global financial system. On Monday, global regulators published a framework for “vigilantly” monitoring risks from crypto-assets including ether and bitcoins. This is despite the fact that crypto-assets don’t pose any significant risk to financial stability, for now. The…