Finance Tech

NEW DELHI (Reuters) - Reliance Industries Ltd ( RELI.NS ) has launched an online grocery service, JioMart, the head of its grocery retail business said, in a move aimed at rivalling Amazon.com’s ( AMZN.O ) local unit and Walmart Inc’s ( WMT.N ) Flipkart in the huge Indian market.  FILE PHOTO: A woman checks her mobile phone as she walks past a mobile store of Reliance Industries' Jio telecoms unit, in Mumbai, India, July 11, 2017. REUTERS/Shailesh Andrade JioMart will deliver groceries in more than 200 towns across the country, Damodar Mall, chief executive of grocery retail at the Indian conglomerate, said on Twitter late on Saturday.  Mumbai-headquartered Reliance has not announced JioMart’s launch at a time it is selling $7 billion in new shares.  Reliance launched a small pilot of JioMart deliveries in select areas of the Indian financial capital Mumbai late last month, days after announcing that Facebook Inc ( FB.O ) would spend $5.7 billion for 9.99 % stake

Authored by Mac Slavo via SHTFplan.com, According to one hedge-fund manager, known for his “doom and gloom” economic outlooks,  the federal government may soon make stashing gold away illegal for individuals.  Crispen Odey believes that governments will ban the possession of gold if they lose control of inflation of their fiat currency. Odey says that gold is a great way to protect your wealth from the inflation that central banks won’t be able to control as they continue to print money. Read more

After 102 years of operation,  Hertz is now bankrupt  and with $25 billion in debt, it just made the list of the 25 biggest bankruptcies in history. BankruptcyData @BankruptcyData $ HTZ welcome to our top 25 240 7:50 PM - May 22, 2020 Twitter Ads info and privacy 117 people are talking about this And with creditors now looking for creative ways to recover as much of their investment as possible, the Hertz fleet of just over 506,000 vehicles is a hot commodity for what's left of the company. Read more

BILL PETERS 06:49 PM ET 05/20/2020 Aurora Cannabis stock spiked yet again late Wednesday after the Canadian pot producer announced an acquisition to enter the U.S. retail CBD market for the first time — even as rivals lament the lack of clarity surrounding regulations of the substance. Other marijuana stocks rose late too. After the close,  Aurora Cannabis  ( ACB ) said it would buy Reliva, a CBD retail brand in the U.S., in an all-stock deal. Reliva will get around $40 million of Aurora Cannabis stock. The deal also includes a possible earn-out — or an arrangement for future payments depending on how well the deal goes —  Read more

Lulu Yilun Chen, Vinicy Chan, Katie Roof and Zheping Huang Bloomberg May 20, 2020 (Bloomberg) -- ByteDance Ltd.’s valuation has risen at least a third to more than $100 billion in recent private share transactions, people familiar with the matter said, reflecting expectations the owner of video phenom TikTok will keep pulling in advertisers. Stock in the world’s most valuable startup has changed hands recently at a price that suggests its value has risen more than 33% from about $75 billion during a major round of funding two years ago, the people said, asking not to be identified because the matter isn’t public. Some trades recently valued the Chinese company between $105 billion and $110 billion on the secondary markets, some of people said. It has also traded as high as $140 billion, one person said. The trades are private transactions and may not fully reflect broader investor expectations. Stock in the secondary market is usually valued at a discou

Wayne Duggan Benzinga May 20, 2020 Spotify Technology SA (NYSE:  SPOT ) shares are up 15.8% this week after Joe Rogan announced he will be taking his popular "Joe Rogan Experience" podcast exclusively to Spotify. On Tuesday afternoon, Rogan announced that his podcast will be available on Spotify starting Sept. 1 and exclusively on Spotify at the end of the year. The terms of the deal were not disclosed; the Rogan podcast is the latest in a series of moves Spotify has made to beef up its podcast streaming library in recent years. The Wall Street Journal reported that Rogan’s licensing deal is worth more than $100 million over several years and includes all of his 11-year back catalogue of previous podcasts. Read more