- Barrons.com
Walmart and Capital One End Credit-Card Partnership
Capital One Financial will no longer be issuing Walmart’s branded credit cards, the companies said Friday. The move comes a little over a year since Walmart sued the card issuer to sever the partnership, arguing Capital One failed to meet certain terms of their contract. The bank had disputed the retailer’s authority to terminate the relationship early, but a federal judge ruled in favor of Walmart earlier this year.
- Reuters
Google to invest $350 million in India's Flipkart, valuing co at $37 billion, source says
Alphabet's Google will pick up a minority stake worth $350 million in Walmart-backed Flipkart, valuing the Indian e-commerce firm at $37 billion, a source with direct knowledge of the matter told Reuters. Google and Flipkart were not immediately available to confirm the value of the investment. The tech giant will join in as an investor in the latest funding round for the Bengaluru-based company, Flipkart said in a statement.
- Barrons.com
Walmart’s CFO on Tech, Advertising, and Winning the High-End Shopper
Walmart is no one’s idea of a tech company—but maybe it should be. In June 2023, John David Rainey spoke with Barron’s in his first sit-down interview as the chief financial officer of the big box retailer, explaining how the world’s largest retailer is expanding through a tech-first strategy. Walmart soared after posting impressive fiscal first-quarter earnings and guidance on May 16, helped by consumers’ laser-focus on value and increasing business from wealthier households.
