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Wednesday evening news brief, May 9

May 9, 2018
Wednesday evening brief May 9 2018
Good evening!
Here’s everything that transpired during the course of the day…
Flipkart has agreed to sell 77 per cent stake to US retail giant Walmart for $16 billion. “Subject to regulatory approval in India, Walmart will pay approximately $16 billion for an initial stake of approximately 77 per cent in Flipkart, formally Flipkart Private Limited. The remainder of the business will be held by some of Flipkart’s existing shareholders, including Flipkart co-founder Binny Bansal, Tencent Holdings Limited, Tiger Global Management LLC and Microsoft Corp,” the two companies said in a joint statement. Read.
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Prime Minister Narendra Modi figured among the 10 most powerful people in the world in US magazine Forbes’ 2018 list. While Chinese President Xi Jinping topped the list, Mukesh Ambani became the only Indian businessman to feature in the list of 75. Modi, who is ranked 9th and Ambani at 32, are the only two Indians on the Forbes World’s Most Powerful People list that was released on Tuesday.
Justice J Chelameswar who retires on June 22, has declined an invitation from SCBA for his farewell function. Justice J Chelameswar declined the farewell invite citing personal reasons, Supreme Court Bar Association office-bearers said. He said the members of the executive committee of SCBA today once again tried to persuade him to attend the farewell function but the judge did not agree.
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A day after Rahul Gandhi said he’s ready to be Prime Minister, PM Modi called him “arrogant” and “entitled”. “I am going to be PM!”. Declaring oneself a Prime Minister like this, isn’t it an evidence of arrogance? It displays his ego,” said Modi today in a campaign rally in Kolar in Karnataka. The Congress hit back, asking whether Modi was the only one who had the right to be Prime Minister.
The flying squad of the Election Commission has seized thousands of voter identity cards from a flat in Bengaluru. The incident was brought to light by Jagadish Ramachandra, son of GH Ramachandra who’s contesting on a JD(S) ticket from RR Nagar. He visited the apartment during campaigning. He alleged there could be 50,000 fake voter ID cards and the list included the ID card of BBMP joint commissioner Tippeswamy.
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