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Walmart has agreed to buy India's leading online retailer Flipkart, paying billion for a controlling stake of 77%.Flipkart gives Walmart access to a market it has been trying to crack for years. Foreign investment regulations have thus far prevented the Arkansas-based retailer from opening stores in India, restricting it to operating 21 wholesale distribution outlets."India is one of the most attractive retail markets in the world, given its size and growth rate, and our investment is an opportunity to partner with the company that is leading transformation of e-commerce in the market," Walmart CEO Doug McMillon said in a statement.The deal is subject to regulatory approval.SoftBank CEO Masayoshi Son, whose company is one of Flipkart's biggest investors, let news of the deal slip earlier on Wednesday while presenting his company's earnings.SoftBank invested .5 billion in the Bangalore-based company last year. Son said that the sale to Walmart valued SoftBank's stake at billion.Many of Flipkart's other investors will retain stakes in the company, including co-founder Binny Bansal, Chinese tech giant Tencent and Microsoft, Walmart said in a statement. Walmart's interest in investing in the Bangalore-based firm was first reported in 2016, and a deal boosts its firepower in a battle with Amazon in the world's fastest growing major economy.Amazon has long considered India one of its most important overseas markets.Amazon CEO Jeff Bezos has committed to investing at least billion in his company's India business, saying in 2016 that he saw "huge potential" in the country. Amazon has introduced its Prime video and music services in India in its effort to challenge Flipkart, as well as its annual Prime Day blockbuster sale.Flipkart now has an even bigger war chest to fend off Amazon in an e-commerce market that Morgan Stanley estimates will be worth 0 billion by 2026. The Indian firm could also speed up its expansion into groceries, an area that has already pitted Amazon against Walmart in the United States.Amazon may have been trying to spoil Walmart's plans until the very last minute. Indian media reported in early May that it made a counteroffer to buy Flipkart.  2223

WASHINGTON (AP) — A record number of women were elected to the House on Tuesday, nearly two years after women spilled out into the streets of Washington and in cities across the country in defiance of the inauguration of President Donald Trump.The incoming class of lawmakers could have a stark impact on politics in the nation's capital, particularly within the Democratic Party, after a midterm election that was widely seen as a referendum on Trump's first term.As of early Wednesday, voters were on track to send at least 99 women to the House, surpassing the previous record of 84. According to data compiled by The Associated Press, 237 women ran for the House as major-party candidates this year.Among the new lawmakers headed to the House is Jennifer Wexton, a Virginia state senator who defeated incumbent Barbara Comstock in one of the most closely watched races across the country. And Alexandria Ocasio-Cortez, the former Bernie Sanders organizer who won an upset primary victory over a senior House Democrat, will also head to Congress.RELATED CONTENT 1072

Walmart and Target are being sued for allegedly selling toys with lead levels up to 10 times more than the federal limit of 100 parts per million, New York Attorney General Barbara D. Underwood announced on Thursday. According to a statement released by Underwood's office, the AG's office was able to find Cra-Z-Jewelz jewelry-making kits from stores. The kits allegedly contained lead at levels of 120 to 980 parts per million. The Attorney General's office had further independent testing done to confirm the results. The toy's maker, LaRose Industries, which is also a plaintiff in the New York lawsuit, issued a national recall. Underwood's office is accusing Walmart, Target and LaRose of "repeated illegality and fraud under New York State law by committing thousands of violations of state law prohibitions on importing, distributing, and selling hazardous toys; deceiving consumers; and false advertising."Underwood's office is seeking civil penalties of  to ,000 for each Cra-Z-Jewelz kit the companies sought to sell in the state.“No parent should have to worry that their child’s toy may be toxic. As we allege, these companies imported and sold toys with dangerous levels of toxic lead – jeopardizing the health of New York’s children and breaking the law,” Underwood said in a statement. “Our lawsuit seeks to hold these companies accountable for the failures that allowed lead-contaminated toys on store shelves, while forcing them to take responsibility for the safety of the products they sell.”The suit also seeks to force the companies to adhere to higher quality control standards to prevent toys with high lead levels from being purchased. The CDC says that lead in children's blood has been shown to affect IQ, ability to pay attention, and academic achievement. The CDC added that children under the age of 6 years old are at most risk of lead poisoning.  1936

WASHINGTON (AP) — House Speaker Nancy Pelosi is pointing fingers over the failure to deliver coronavirus aid.Pelosi is blaming Treasury Secretary Steven Mnuchin for failing to produce answers to her demands for Democratic priorities as part of an almost trillion aid package.A Thursday morning letter to Mnuchin was the latest volley in a blame game over the failed talks, which have cratered before the election.This morning, as our nation approaches nine million COVID-19 cases and a quarter of a million lives lost, I sent a letter to @stevenmnuchin1 seeking the Trump Admin’s responses on several outstanding items in COVID relief negotiations. Read my letter here: https://t.co/3qCoh3HDSW pic.twitter.com/IlDhRUD8lF— Nancy Pelosi (@SpeakerPelosi) October 29, 2020 Pelosi says remaining obstacles to an agreement include more than half a dozen big-ticket items, including a testing plan, aid to state and local governments and jobless benefits.Where the talks go after the election is uncertain.Watch Pelosi hold her weekly press conference below: 1062

VISTA, Calif. (KGTV) -- After a trip to visit their grandma in Ohio, eight year old Lilly and 12 year old Zachary were driving back to California with their mom and grandma when a wrong-way driver hit their car head-on in Oklahoma, killing all four of them. The wrong-way driver, identified by Oklahoma authorities as 33-year-old Ashley Louise Ricks, survived the crash.Monday, Oklahoma authorities gave an update, saying witnesses smelled alcohol at the scene of the crash. Witnesses and 911 calls also reveal the woman was driving at a high rate of speed and in the wrong direction for at least nine miles before the fatal crash occurred. Authorities said they’re currently investigating her medical history, driver history and taking blood samples before making any charges.The family was driving back to Vista, near San Diego, so Lilly could make it back home in time for school to resume. A GoFundMe created by a family friend shows the kids called their dad and stepmom every day while on vacation, telling them about the fun they’d had on their trip.Sam Homant, the kids’ dad, and their stepmom Melissa Starnes said the last time they talked to their son, it was the night of the crash.“He was excited to come home. We had just got him a brand new bed, a brand new bed that he was just so excited for, this pillow top mattress and he was so excited. And that was the last thing that we said to him,” said Starnes.They described the kids as family oriented and special. Zachary had a creative and kind heart.“He could take Legos and create anything out of Legos. He loved to build, just a smart smart little boy. Very creative. Wanted to be an architect. His imagination was off the rack,” they said.Lilly had similar passions to many little girls her age, but also loved to ride her dad’s motorcycle with him.“She loved makeup and dancing and her dolls. She loved to draw,” they said.The GoFundMe will help pay to bring the kids home. As they grieve, these parents want answers.“They had such a bright future and it’s been taken away by this lady and we don’t know why. We want to know why was she on that road on the wrong side,” said Starnes. 2159

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