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Market Movers

Dow Jumps to Six-Month High as US Stocks Rally on Trade Talk Optimism

Walmart Asks Cosmetic Suppliers to Consider Sourcing Away from China

Walmart (WMT) has asked its cosmetics suppliers to consider sourcing their goods in countries outside of China, a sign the company is trying to dilute the impact of U.S.’ looming tariffs on Chinese goods, according to Bloomberg. A “large amount” of items in the cosmetics category fall under the most-recent proposed levies on Chinese goods, according to an Aug. 7 […]

Global Energy Report: Crude Slips in Asia With Focus on Iran Exports

Crude oil prices eased in Asia on Monday with efforts by Iran to get around pending US economic sanctions still a wild card as it attempts to head off a November deadline that would see many key importers follow Washington’s decision to end imports of Iranian barrels. ICE Brent crude futures, the benchmark for oil prices outside the US, eased […]

Walmart Closes Deal to Become 77% Shareholder in Flipkart, Expects Negative Impact on EPS From Deal

Walmart (WMT) said on Saturday it closed its deal to become the largest shareholder of Flipkart Group. Walmart now holds approximately 77% of Flipkart. The remainder of the business is held by other shareholders, including Flipkart co-founder Binny Bansal, Tencent, Tiger Global and Microsoft (MSFT), Moving forward, Flipkart’s financials will be reported as part of Walmart’s International business segment. Walmart’s […]

Hess’ Southeast Asian Offshore Natural Gas Assets Attract Bidders

The offshore natural gas assets of Hess Corp. (HES), estimated to be worth as much as $5 billion, have attracted bids from several energy firms, Reuters reported, citing sources. The New York-based company has a collection of gas fields in the North Malay Basin in offshore Malaysia and in the Malaysia-Thailand Joint Development Area. It has not yet decided whether […]