Global retailing major Walmart wants to convert around two dozen wholesale stores into fulfilment centres for Flipkart, The Economic Times reported. This move is part of a restructuring process of its cash-and-carry business, the report said. In January, it was in the process of dismissing about a third of its top executives based in Gurugram. The Bentonville, Arkansas-based company will let go of over 100 senior executives, including vice presidents across sourcing, agri-business, and FMCG (fast-moving consumer goods) divisions, the report said. The company plans to shut its largest warehouse in Mumbai and halt new-store expansion in India.
Times Internet in advanced talks to acquire TVF
Times Internet, the digital business arm of media conglomerate Times Group, is in advanced talks to acquire Mumbai-based video streaming and production company TVF (The Viral Fever), The Morning Context reported. TVF has been looking out for investors for the past 18 months, the report said.
Intel launches chip for 5G base stations
Chipmaker Intel has rolled out Intel Atom P5900, a 10nm system-on-a-chip (SoC) for wireless base stations. With this launch, the company aims to expand Intel architecture from the core to access and all the way to the farthest edge of the network, the press statement said. Intel Atom P5900 is designed to meet critical 5G network needs including high bandwidth and low latency.
McAfee and DXC partner for cybersecurity solutions
Device-to-cloud cybersecurity company McAfee has launched a global managed detection and response (MDR) platform MVISION EDR. It is a cloud-delivered service that enables users to detect, investigate, and quickly respond to advanced threats. Virginia-based information technology company DXC Technology will be McAfee’s first strategic MDR partner to leverage MVISION EDR solution for detecting cyber threats faced by customers and resolve security incidents faster, the press statement said. MVISION EDR will enable DXC to offer global MDR service.
Lendingkart Technologies hires Abhishek Singh as chief analytics officer
Lendingkart Technologies, which runs an eponymous digital lending platform, has appointed Abhishek Singh as its (CAO) chief analytics officer (CAO). The company aims to develop the platform’s backend technology and be at the forefront of providing simplified solutions for MSMEs. Singh has over 19 years of experience and joins Lendingkart from Infinitxps where he served as a co-founder and a partner. Prior to Infinitixps, he has worked with companies like Mckinsey & Company, and NettPositive.
Ola appoints Gautam Bambawale as senior advisor for corporate and international affairs
Bengaluru headquartered ANI Technologies, which owns and operates cab-hailing platform Ola has hired Gautam Bambawale as its senior advisor for corporate and international affairs. In his new role, Bambawale will advise Ola on its corporate affairs initiatives across India and the global markets in which it operates. Bambawale is a retired bureaucrat, civil servant and executive. He has served in various diplomatic roles during his 34-year career with IFS (Indian Foreign Services). Prior to joining Ola, he had served as India's Ambassador to Bhutan and China as well as the High Commissioner of India to Pakistan between 2016 and 2017.