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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

VISTA, Calif. (KGTV) - The man who tried to kidnap a 15-year-old girl in front of her Encinitas home was sentenced Monday to seven years in jail.Jeremiah Owens, 28, grabbed the girl and pinned her to the ground as she waxed her surfboard in front of her home on Neptune Ave in July 2017.Owens tried to drag the girl to a nearby pickup truck occupied by Christopher White, but the girl was able to break free and run home.White was arrested two days after the assault when a witness matched his pickup truck to the description of one which deputies wanted to find. Owens was arrested hours later.RELATED: Men accused of trying to kidnap Encinitas girlOwens could have received nine years in jail, but a judge gave him seven years and ordered him to register as a sex offender for life.White pleaded guilty Tuesday to being an accessory to kidnapping and will be sentenced June 19.The girl and her parents attended Owens' sentencing but did not make a statement. She now gives public lectures on self-defense. 1015

VISTA, Calif. (KGTV) -- The suspect deputies say broke into a Vista bike shop and stole more than ,400 worth of merchandise has been arrested.Ronald Gardner of Escondido was arrested on March 28 after deputies served a search warrant at his home.Gardner was arrested and booked into the Vista Detention Facility for burglary, possession of stolen property and possession of a controlled substance.Deputies also say three bicycles and some of the stolen sunglasses and bicycle parts were recovered and given back to the owner of the bike shop.RELATED: Vista bike shop targeted by thieves for the third time in six months?The owner of the “211 Bikes,” Jesse McCormack, found out that his shop had been burglarized after receiving a call from his security company.McCormack said this was the third time in six months the bike shop had been broken into. 874

VISTA, Calif. (KGTV) -- California could become the first state in the nation to use recycled plastic as part of its roads and freeways.The state Senate unanimously passed SB 1238, which directs Caltrans to study the use of plastics in asphalt for construction, or repair of a state highway or road."There's no other state in the nation that has more paved roads in California," said Sen. Ben Hueso, who wrote the bill. "So, imagine if California developed the use for a product that it's abundant in … This would be a game changer. This would be a great way to reuse plastic.”That's especially important now, as China has stopped buying recycled materials from the U.S. Prior to 2018, California sent 2/3 of its recyclable materials to China, which has since banned all plastic trash imports.Now, instead of going into the landfill, it could go into California’s roads."It would help create jobs in our state. It would help a local contractor that we have in our county, it would help improve the sturdiness of our roads and reduce the maintenance of our roads," said Hueso.Hueso said he got the idea from a group of students at Bonita Vista High School in Chula Vista. He met with their Progressive Club and Green Club, challenging them to find solutions.The students introduced Hueso to MacReber Southern California, a Vista company that takes plastic and prepares it to be used in asphalt."It makes too much sense not to do," said MacReber CEO Rebeca Sparks. "With this technology, we can truly offset our footprint, and not only offset it but be do more than that to be plastic positive."MacReber takes plastic out of the recycling and landfill chain, and then processes it. The company then sells the plastic to asphalt companies. They use the plastic mix instead of oil when making asphalt.MacReber said in addition to being more environmentally friendly, it also creates a stronger, sturdier road."It's going to look feel and move the same as a traditional asphalt," said MacReber President Chris Sparks. "But our product lends to a stronger, longer lasting asphalt road."Hueso said finding a use like this for all of the plastic waste produced in California is vital to the environment, especially now that China has stopped buying the state's plastic waste.The bill still has to get approval from the state Assembly, and then it would need the governor’s signature to become law.After that, Caltrans would be responsible for studying and implementing the idea. 2478

VISTA, Calif. (KGTV) - Neighbors in the 700 block of Lemon Avenue in Vista say they were stunned as they watched a landlord pull out a pistol and start shooting at his tenant.Neighbors tell 10News there have been screaming matches at the home in the past. They say the landlord had been trying to evict a tenant who was living in the garage. The neighbors did not wish to share their names out of fear for their family's safety.The watch commander said they received a 9-1-1 call around 6 p.m. when the first shot was fired. Deputies arrived and investigated, then left when they couldn't find the landlord.Around 7:50 p.m. the landlord returned and, according to the watch commander, fired several shots at the tenant.Neighbors said it sounded like fireworks. They said they saw the landlord cocking his pistol, they believed it jammed.A video provided to 10News by neighbors shows deputies with rifles drawn approaching the home.They arrested the landlord and his associate.Details on the man, the associate, the tenant and the charges are not currently known. 1070

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