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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

Volunteers at a Chicago food bank got a surprise treat for the holidays.Former President Barack Obama paid an unannounced visit Tuesday to the Greater Chicago Food Depository, where he helped bag potatoes for Thanksgiving meals.Wearing a Chicago White Sox hat, Obama arrived with bags of donated food and donned latex gloves to work side by side with volunteers at the nonprofit, which helps provide meals to more than 700 food pantries and shelters across Cook County, Illinois.The former President and longtime Chicago resident came with staffers from the Obama Foundation, which seeks to improve communities across the US through leadership training and other educational efforts."Hey, how's it going?" he asked volunteers as he walked in. "This is a spiffy-looking spot right here.""We believe no one should go hungry, especially this time of year, and that's why we're working to address the root causes of hunger in Chicago and Cook County," the food bank tweeted out Tuesday, along with a video of the surprise visit.In the video, Obama encounters two little girls who are volunteering and tells them, "You guys are doing such a great job helping out. I'm really proud of you."Obama still lives in Washington but was in Chicago to attend the Obama Foundation Summit, a gathering of community leaders and students.A hallmark of Obama's presidency was combating hunger across the globe. In 2009, his administration pledged?.5 billion over three years to a Feed the Future initiative, which works to promote agricultural knowledge and tools in areas with high food insecurity. In 2016, he signed the Global Food Security Act to bolster government efforts toward Feed the Future initiatives.This was not the first time Obama has volunteered during the Thanksgiving holiday. He and his family spent the day before Thanksgiving in 2015 serving dinner to homeless people and veterans at Friendship Place Homeless Center in Washington.Back then, Obama said it wasn't only "of the spirit of giving during this holiday season but our national obligation to make sure all those who serve and sacrifice for our country have a place to call home." 2176

WASHINGTON (AP) — Chances look slim for ending the partial government shutdown any time soon.House lawmakers are being told not to expect further votes this week, all but ensuring the shutdown will enter a second week and stretch toward the new year.Lawmakers are away from Washington for the holidays and have been told they will get 24 hours' notice before having to return for a vote. And although both the House the Senate were slated to come into session briefly Thursday afternoon, few senators or representatives were expected to be around for it.President Donald Trump is vowing to hold the line on his demand for money to build a border wall. Back from the 29-hour trip to visit U.S. troops, Trump tweeted Thursday that "we desperately need" a wall on the Mexico border, funding for which has been a flashpoint between the White House and Congress ever since Trump took office.He called on Democrats in Congress to fund his wall, saying the shutdown affects their supporters. He asserted without evidence: "Do the Dems realize that most of the people not getting paid are Democrats?"Virginia Democratic Sen. Mark Warner called Trump's comments "outrageous." In his tweet, he added: "Federal employees don't go to work wearing red or blue jerseys. They're public servants. And the President is treating them like poker chips at one of his failed casinos."After a weekend and two holiday days for federal employees, Wednesday was the first regularly scheduled workday affected by the closure of a variety of federal services. A brief statement Thursday from the office of Louisiana Rep. Steve Scalise, the No. 3 Republican, spoke to the dim prospect for a quick solution. "Members are advised that no votes are expected in the House this week," the statement said. "Please stay tuned to future updates for more information."The shutdown started Saturday when funding lapsed for nine Cabinet-level departments and dozens of agencies. Roughly 420,000 workers were deemed essential and are working unpaid, while an additional 380,000 have been furloughed.While the White House was talking to congressional Democrats — and staff talks continued on Capitol Hill — negotiations dragged Wednesday, dimming hopes for a swift breakthrough.Republican Rep. Mark Meadows of North Carolina, a Trump ally who has been involved in the talks, said the president "is very firm in his resolve that we need to secure our border." He told CNN, "If they believe that this president is going to yield on this particular issue, they're misreading him."The impasse over government funding began last week, when the Senate approved a bipartisan deal keeping government open into February. That bill provided .3 billion for border security projects but not money for the wall. At Trump's urging, the House approved that package and inserted the .7 billion he had requested.But Senate Republicans lacked the votes they needed to force the measure through their chamber. That jump-started negotiations between Congress and the White House, but the deadline came and went without a deal.The shutdown has been playing out against the backdrop of turmoil in the stock market.Kevin Hassett, the chairman of the White House's Council of Economic Advisers, said the shutdown does not change the administration's expectation for strong growth heading into 2019. He told reporters a shutdown of a few weeks is not going to have any "significant effect on the outlook."Among those affected by the shutdown — the third of 2018 — are the departments of Homeland Security, Transportation, Interior, Agriculture, State and Justice. Those being furloughed include 52,000 workers at the Internal Revenue Service and nearly everyone at NASA. About 8 in 10 employees of the National Park Service are staying home, and many parks have closed.The shutdown didn't stop people from visiting the White Sands National Monument in southern New Mexico, where hundreds of unauthorized visitors have in recent days climbed over a fence to enter the monument, according to The Alamogordo Daily News. State highway workers were sent to the area Monday to erect "no parking" signs along U.S. 70 outside the monument.Trump has claimed federal workers are behind him in the shutdown fight, saying many told him, "stay out until you get the funding for the wall.'" He didn't say who told him that. Many workers have gone to social media with stories of the financial hardship they expect to face because of the shutdown.One union representing federal workers slammed Trump's claim. Paul Shearon, president of the International Federation of Professional and Technical Engineers, said the union has not heard from a single member who supports Trump's position."Most view this as an act of ineptitude," he said.___Superville reported from al-Asad Air Base in Iraq. Associated Press writers Zeke Miller in Washington and Paul Davenport in Alamogordo, New Mexico, contributed to this report. 4945

VISTA, Calif. (KGTV) — A Vista bike shop owner is fed up after his shop was broken into for the third time in six months.Early Sunday morning, Jesse McCormack got a call from his security company. The person on the phone notified him that thieves had gotten into his shop, 211 Bikes, again.“I woke up in an immediate panic,” McCormack said.This month, he was supposed to be celebrating his one year anniversary at the location. Instead, he is filing yet another police report.The surveillance video shows a man wearing a hoodie and shorts ransacking the shop, snipping cable locks, and running out.The man captured on the security video took a 2017 MASI Volare worth ,199, a MASI Vivo Uno worth ,999, a Haro Shredder 12" worth 0, a rack of sunglasses worth ,000, and several important files.The first time 211 Bikes was the target of a crime was last October, just six months after opening. No one was arrested for the crime. “It was a wake-up call,” McCormack recalled.The second break-in was on December 10, 2017. Five rare road bikes, along with other equipment, were stolen. “There’s some nights that I don’t really want to go home,” McCormack sighed. “I just feel like I need to stay the night here, and just keep an eye on things.”In the last six months, McCormack has lost at least ,000. He and his landlord have put up new security cameras, LED lights, locked up the bikes, even changed the dead bolts.When one of the stolen bikes was listed on online sale app, he even worked with detectives to arrest the seller. But the thefts continued.McCormack recently got a call from another bike shop owner. They sent McCormack a photo of a man, riding a rare and expensive road bike in San Marcos —The exact one that was stolen from his shop in December.He immediately noticed that the leg tattoo on this rider was very similar, if not a match, to the tattoos on the man captured on Sunday morning’s surveillance video.“He matches the description I have of the prior incident,” McCormack said.This could be a break, he said, hoping that somebody recognizes the man, and turns him into the San Diego County Sheriff’s Department.“Action needs to be taken,” McCormack said. “We need to have the ability to feel safe, in order to conduct business, especially as a small and vulnerable business owner, who is operating on a shoe string budget."McCormack is now working with the San Diego County Sheriff's Department, asking for increased patrols in the area.He thought about changing locations. But because the area is surrounded by great bike trails, and he services so many local loyal customers, he said moving is not an option.  2698

WASHINGTON (AP) — Christmas-season gridlock descended on the nation's capital Saturday like an unwelcomed present just before the holiday as America's elected leaders partially closed down the government over their inability to compromise on money for a wall along the U.S.-Mexico border.Congressional Democrats are refusing to accede to President Donald Trump's demands for billion to start erecting his long-promised barrier, and the stalemate is a chaotic coda for Republicans in the waning days of their two-year reign controlling government.Vice President Mike Pence, Trump son-in-law and senior adviser Jared Kushner and White House budget chief Mick Mulvaney left the Capitol late Friday after hours of bargaining with congressional leaders produced no apparent compromise.RELATED: Government shutdown: Who will get furloughed if a spending bill is not signed?Mulvaney sent agency heads a memorandum telling them to "execute plans for an orderly shutdown." He wrote that administration officials were "hopeful that this lapse in appropriations will be of short duration." That expectation was widely shared.With negotiations expected to resume, the House and Senate scheduled rare Saturday sessions. House members were told they would receive 24 hours' notice before any vote. "I am in the White House, working hard," Trump said Saturday on Twitter.The impasse blocks money for nine of 15 Cabinet-level departments and dozens of agencies, including the departments of Homeland Security, Transportation, Interior, Agriculture, State and Justice.RELATED: Government shutdown: Constructive talks are happening, McConnell saysThe disruption affects many government operations and the routines of 800,000 federal employees. Roughly 420,000 workers were deemed essential and will work unpaid just days before Christmas. An additional 380,000 will be furloughed, meaning they will stay home without pay.Federal employees already were granted an extra day of vacation on Monday, Christmas Eve, thanks to an executive order that Trump signed this past week. The president did not go to Florida on Friday as planned for the holiday.Those being furloughed include nearly everyone at NASA and 52,000 workers at the Internal Revenue Service. About 8 in 10 employees of the National Park Service were to stay home; many parks were expected to close.RELATED: President Trump tweets that government shutdown will last for a 'very long time' if wall not fundedThe Senate passed legislation ensuring that workers will receive back pay. The House seemed sure to follow suit.Some agencies, including the Pentagon and the departments of Veterans Affairs and Health and Human Services, were already funded and will operate as usual.The U.S. Postal Service, busy delivering packages for the holiday season, will not be affected because it's an independent agency. Social Security checks will be mailed, troops will remain on duty and food inspections will continue.Also still functioning will be the FBI, the Border Patrol and the Coast Guard. Transportation Security Administration officers will continue to staff airport checkpoints and air traffic controllers will be on the job.Trump has savored the prospect of a shutdown over the wall for months. Last week he said he would be "proud" to close down the government, and on Friday said he was "totally prepared for a very long" closure. Many of Congress' most conservative Republicans welcomed such a confrontation, but most GOP lawmakers have wanted to avoid one because polling shows the public broadly opposes the wall and a shutdown over it.RELATED: What to expect if there's a partial government shutdownInitial Republican reaction to the shutdown was muted. Among the few GOP lawmakers who issued statements as it began were Sens. Lisa Murkowski of Alaska, who expressed disappointment at the lack of a deal, and Lamar Alexander of Tennessee. "This is a complete failure of negotiations and a success for no one," Alexander said.The Democratic leaders, Rep. Nancy Pelosi of California and Sen. Chuck Schumer of New York, said in a statement that Trump "threw a temper tantrum and convinced House Republicans to push our nation into a destructive Trump Shutdown in the middle of the holiday season."Trump had made clear last week that he would not blame Democrats for any closure. Now, he and his GOP allies have spent the past few days saying Democrats bear responsibility.The president said now was the time for Congress to provide taxpayers' money for the wall, even though he long had claimed Mexico would pay for it. Mexico repeatedly has rebuffed that idea."This is our only chance that we'll ever have, in our opinion, because of the world and the way it breaks out, to get great border security," Trump said Friday. Democrats, who opposed major funding for wall construction, will take control of the House on Jan. 3.Looking for a way to claim victory, Trump said he would accept money for a "Steel Slat Barrier" with spikes on the top, which he said would be just as effective as a "wall" and "at the same time beautiful."Senators had approved a bipartisan deal earlier in the week to keep the government open into February and provide .3 billion for border security projects, but not the wall. But the House rebelled and approved a package temporarily financing the government but also setting aside .7 billion for the border wall.A test vote in the Senate on Friday showed that Republicans lacked the 60 votes needed to advance the House plan. That jump-started negotiations between Congress and the White House. 5581