Day: May 20, 2020

Luckin’s Stock Faces Wipeout in Rush to Sell Before Delisting

(Bloomberg) — Luckin Coffee Inc.’s battered stock faces a renewed wave of selling on Wednesday, after Nasdaq Inc. said it planned to delist the onetime market darling that shocked investors with revelations of accounting fraud last month.

The Chinese coffee chain’s shares, which have been suspended since tumbling more than 80% in early April, will resume trading at 7 a.m. in New York. Luckin announced Nasdaq’s intention to delist the company in a statement on Tuesday, saying shares will remain on the exchange pending the outcome of an appeal hearing.

The prospect of delisting is likely to trigger a rush

Negotiations for PTA and FTA with South American nations through video conferencing

The talks which were expected to happen in March and April respectively in Lima and New Delhi had to be pushed back due to global shut down.

Trade negotiations with South American nations – Chile & Peru will be now through video conferencing, as airports of these countries remain closed due to the global pandemic COVID-19.

“The negotiations with the two countries for expansion of the existing for the Preferential Trade Agreement (PTA) with Chile and the special Free Trade agreement with Peru will be carried on through video conferencing. We have asked the governments of these countries to give

Flipkart to now deliver essentials from Vishal Mega Mart at your doorstep in these 26 cities

Flipkart will deliver essentials such as atta, dal, oil, among others from Vishal Mega Mart in 26 cities.

Homegrown e-commerce platform Flipkart has joined hands with retail grocery chain Vishal Mega Mart to deliver essentials at your doorstep as the country remains in a lockdown due to coronavirus. Flipkart will deliver essentials such as atta, dal, oil, among others from Vishal Mega Mart in 26 cities. The company has created a Vishal Mega Mart Essentials store on its platform, Flipkart announced in a statement on Tuesday. Via this collaboration, Flipkart will be able to serve customers from over 365 Vishal