Amazon is buying 49% stake in Indian supermarket chain More, according to reports in local media. With over 540 supermarkets across India, More is part of Aditya Birla Group's retail business.No official statement on Amazon's actual investment amount has been made, however. The deal could be seen as  Amazon’s latest ammo against Walmart in the offline retail space.

Amazon-owned live-streaming video game platform Twitch is no longer available to  Chinese consumers. Chinese regulators of late have been increasingly stringent with the video gaming industry, and Twitch’s getting blocked in their nation (including on the iOS store in China) seems to be the latest proof of that.Last month, the Chinese government even imposed restrictions on the amount of time kids/teenagers should spend on new online games. Before losing access to Chinese consumers, Twitch was the third most popular free app in the Chinese iOS store, according to analytics firm App Annie.

Wells Fargo & Company is set to slash jobs by about 5 percent to 10 percent within the next three years . The fourth largest bank in the U.S. said that the latest employee retrenchment plan - which could total up to 26,450 job cuts - includes displacements as well as normal team-member attrition.The job cuts are seen as part of Wells Fargo’s goal to lower costs by $4 billion by 2020. Wells Fargo will also reduce its branch count by about 800 by 2020 and sell non-core businesses.

On Wednesday, financial trading app Robinhood suspended new purchases of Aurora Cannabis’s stocks. Earlier this week, speculations of a possible (albeit unconfirmed) collaboration between Coca-Cola and marijuana producer Aurora (ACBFF) to produce cannabis component CBD-infused drinks apparently led to heightened investor interest in Aurora - so much so that the flood of new buy orders for Aurora was too overwhelming for Robinhood's execution venues to handle.“We suspended the purchase of ACBFF earlier today because our execution venues were unable to support the large volume of orders we’ve received for the stock,” Robinhood spokeswoman Lavinia Chirico told Fortune.

JP Morgan Chase & Co. gifts its shareholders a 42.9% hike in quarterly dividends. The investment bank’s Board of Directors announced new quarterly dividends of 80 cents per share (up from around 56 cents) that will be paid out on Oct 31.These have been approved by the Federal Reserve. JP Morgan's latest dividend increase follows its earlier 12% hike to 56 cents per share in September 2017. 

Nestle wants to sell its skin health unit, as the company wants to focus mainly on food, drinks and nutritional health.  The Swiss company’s skin health unit (which produces Cetaphil and Proactiv skin care brands and  Restylane wrinkle fillers) had sales of 2.7 billion Swiss francs ($2.8 billion) last year, which is around 3 percent of Nestle’s total sales.Also, Nestle agreed to sell its Gerber Life Insurance business for $1.55 billion, while a Reuters report suggested that it might be  bidding for GlaxoSmithKline’s Horlicks drink.

Comcast Corp. and 21st Century Fox Inc.’s  race to acquire Sky Plc.will be settled in a one-day auction to be held this Saturday. Fox and Comcast will place their respective bids for Europe’s pay-TV behemoth, starting at 5 p.m. on Sept. 21 in London in an auction conducted by Britain’s Takeover Panel.

The stock ended the day up +5%. The company - whose app offers consumer services including lunch reservations, buying movie tickets, booking vacations and hailing car rides -  raised $4.2 billion from its IPO, pricing its shares near the top of its target range.Thursday’s trade valued the company at about $50 billion. Formed in 2015 by the merger of two smaller companies Meituan and Dianping, the company is seen as a potential competitor to Chinese tech giant Alibaba and ride-hailing firm Didi Chuxing.

Alibaba CEO Jack Ma might have turned skeptical about his promise to create 1 million US jobs, as U.S.-China trade tensions keep escalating. Last year, Jack Ma was eager to help American small businesses to sell their products to Chinese customers via Alibaba’s platform – a move he expected would boost jobs in the U.S.But given the intensifying US.-China trade wars in recent times,  Ma seems unsure about following up on his earlier promise. "This promise was on the basis of friendly China-US cooperation and reasonable bilateral trade relations, but the current situation has already destroyed that basis," Ma said in an interview published late Wednesday by China's official news agency, Xinhua.

Auto parts supplier ZF Friedrichshafen AG is developing its own technology for self-driving vehicles. With an investment of 12 billion euros ($14 billion) over the next five years on autonomous vehicle technology, the German company’s project will include developing a battery-powered self-driving delivery van.Navigating city centers, identifying traffic lights and maintaining lanes even in absence of markings on street are some of the features of ZF’s  autonomous van, as mentioned by the company.

GitLab Inc. raised $100 million in financing from Alphabet' Inc.'s GV, Iconiq Capital and Khosla Ventures among other investors.The funding valued the open-source code-sharing & collaborating platform at just over $1 billion. GitLab is apparently gearing up to compete with GitHub, which was acquired by Microsoft in June.

PlayStation fans are in for nostalgia, as Sony plans to release a revamped version of its iconic PlayStation Classic on December 3. On Wednesday, Sony announced that the new version will be 45% smaller than the original, and will have 20 pre-loaded games, including "Final Fantasy VII," "Tekken 3" and "Wild Arms."The release is happening almost 25 years after the original version came out.  

The name is inspired by the animal’s daring nature, according to chief technology officer Jeff Zhang. In recent times, Alibaba CEO Jack Ma has hinted at the need to temper over-dependence on U.S. companies for chips and instead focus on building technologies domestically.His comments came around the time the US Commerce Department precluded American companies from selling parts to Chinese tech firm ZTE that relied on US chipmakers for smartphones and telecommunications equipment manufacturing.    

European Union antitrust regulators are looking into whether or not Amazon has milked smaller retailers’ data to boost its own sales. Such data might include information on consumer preferences, the kind of offers people are liking and other factors that incentivize people to buy things." The EU has, in recent times, been keeping tech companies on a tight leash over their use of data and their compliance with industry competition rules.

China will not devalue its currency to boost it export demand, according to Chinese Premier Li Keqiang. "Persistent depreciation of the renminbi will only do more harm than good to our country," Li said said on Wednesday during a speech at a World Economic Forum event in the northern Chinese city of Tianjin.Since China imports much less from the U.S. compared to the other way round, speculations are rife as to whether or not China will manage to have enough measures to 'fight' back at U.S. tariffs. Since April, the yuan (or renminbi) has declined by around -9% against the U.S dollar, amidst U.S.-China trade wars.

In July, China’s ownership of U.S. Treasuries declined to a six month low. China’s holdings of U.S. bonds, bills and notes was $1.17 trillion in July – the lowest level since January.In the latest round of the 'battle',  the U.S. will impose fresh levies on an additional $200 billion of Chinese goods on September 24, to which China has responded with its plan to hit $60 billion of U.S. goods with tariffs. 

In less than three weeks of posting that tweet, Musk abandoned the plans and said that Tesla would remain a publicly traded company.But the latest news of the DOJ’s involvement potentially lends a more serious tone to the matter, since the Department’s investigations are often associated with possible criminal charges.

BMW said Tuesday that it plans to shutdown its Mini factory in England for a month of maintenance starting April 1, over Brexit-related concerns. The German multinational automaker is unsure about whether or not the UK would exit the European Union with a trade deal, and therefore wants to hold off production in its Oxford factory immediately after Brexit.   News of BMW’s decision comes just a day after Jaguar Land Rover announced that it will reduce the number of work days from five to three a week until Christmas for its 1,000 workers due to uncertainty over Brexit. 

Movie subscription service MoviePass’s parent company Helios and Matheson wants to offer its shareholders a reverse stock split, for a second time this year. In a reverse stock split, the issuing company reduces the number of outstanding shares without altering their total value (which means, price per share is raised by the firm).Executives at Helios and Matheson are seeking shareholder votes on a plan that would allow shareholders to trade in 500 shares for a single share worth 500-times as much. If approved, the reverse stock split could  increase Helios and Matheson stock price from less than 2 cents to as much as $10 — which would possibly be sufficient to allow the company to continue being listed on the Nasdaq stock exchange. In July, the company executed a reverse stock split to boost its stock from 8 cents to $21; however, its market price dropped to less than a dollar within days. Nasdaq has warned Helios and Matheson that it could be re

Following reports of U.S. President Donald Trump’s fresh round of levies on Chinese goods, China has hit back with its own tariff list against U.S. goods. On Tuesday, the Chinese government announced that it will slap tariffs at rates of 5% or 10%(depending on the product) on US goods worth $60 billion, starting September 24. This comes shortly after a Wall Street Journal report mentioned that U.S. will impose tariffs on an additional $200 billion worth of Chinese goods.U.S. tariffs on Chinese goods will also commence on September 24.