India’s Fintech Firm PhonePe Secures Additional $200m From Walmart

PhonePe, an Indian digital payments company, announced on Friday that Walmart Inc., its major investor, had contributed $200 million to its $12 billion pre-money valuation. One of the most valuable startups in India and the most valuable payments company, PhonePe, said the investment is a part of its ongoing $1 billion round of fundraising. At…

Putin Urges Russia’s Billionaires To Prioritize Their Country Over Their Own Interests

Russian President Vladimir Putin urged Russia’s billionaires to prioritize nationalism over personal gain and to make investments domestically to support the country’s economy in the face of Western sanctions. Putin spoke directly to Russia’s business elite for the first time since the day he sent his troops into Ukraine on February 24 of last year, telling…

Volkswagen Enters A Price War In China With Approaching Of A New Emissions Regulation

SAIC Volkswagen Automotive Co. is joining more than 40 brands in slashing prices ahead of a change in emissions rules in the world’s largest auto market by offering 3.7 billion yuan ($537 million) in cash subsidies for car purchases in China. The Teramont, Lavida, and Phideon models are all eligible for subsidies from the joint…

Apple Aims Growth And Shifts Focus To India, Possibly Resulting In Massive Changes In Its Management Of International Businesses

Apple is reportedly shifting the leadership of its international businesses in order to focus on India. According to reports, “India is now its own sales region at Apple” as a result of the change in emphasis. Ashish Chowdhary, managing director of Apple India, will now be in charge of the Middle East, the Mediterranean, East…

Critical Permission To Launch New Wealth Business In China Obtained By Credit Suisse

According to a company memo reviewed by Reuters, Credit Suisse has received regulatory approval from China to launch a full-fledged wealth management business in the world’s second-largest economy. The expansion comes after the lender experienced larger-than-expected global wealth outflows in the fourth quarter, totaling 92.7 billion Swiss francs ($98.29 billion). According to the memo, which…

Ford Mines Massive Amounts Of Vehicle Data To Stay Ahead In The Commercial Van Market

A 9-meter-long (30-foot) screen at Ford Motor Company’s UK headquarters in Dunton, east of London, displays the company’s efforts to use reams of data generated by its vans and trucks, from engines to oil filters or brake pads, to draw in more customers in the European and American commercial vehicle market. This screen displayed real-time…

After Juul’s Exit, Altria Will Pay $2.8 Billion To Acquire The E-Cigarette Startup NJOY

Altria Group Inc. announced on Monday that it would acquire the e-cigarette start-up NJOY Holdings Inc. for approximately $2.75 billion in cash, placing new bets on the rapidly expanding market after suffering enormous losses on its investment in Juul. The tobacco giant announced that it had exchanged its investment in Juul for some of the…

A Number Of F1 Teams Have Contacted Honda About A Partnership For 2026

Honda has announced that several teams have approached it about a potential partnership when the new engine era in Formula One begins in 2026, but no decision has been made regarding future participation. The agreement between Honda and Red Bull and sister team AlphaTauri to produce engines in Japan will expire in 2025. Red Bull recently…