Alibaba has seen surges in mobile engagement during the first quarter of 2017 as it uses AI technology to improve advertisement.Read More »
Walmart Store Inc.'s (WMT) store of the future may appear to be scarily devoid of employees. In reality, humans will still work there, but expect to see more robots. In addition to Walmart starting to use 16-foot automated towers to distribute online orders, scan-and-go technology to replace cashiers and digital screens to answer customers' questions, it may eventually deploy robots to handle inventory. "One thing is for sure, employees will be in different roles," Greg Foran, president and CEO of Walmart, said in response to a question posed by TheStreet on Thursday, Aug. 17 during a media call. "Do I want to have a situation where in every Supercenter I've got a team of associates out in the
U.B. Pravin Rao, Infosys' chief operating officer, was named interim managing director and chief executive. Rao will report to Sikka, who will take the executive vice chairman role until a permanent CEO takes charge, which should be no later than end-March 2018, Infosys said. The founders, who still own 12.75 percent of Infosys, have in the past questioned a pay rise granted to Sikka and Rao as well as the size of severance payouts given to others, including the company's former finance head Rajiv Bansal.
According to the Journal report, Elliott Management, a hedge fund, has bought a portion of debt sufficient to allow it to block Buffett's Berkshire Hathaway's (BRK.A) (BRK.B) plan to purchase Energy Future Holdings Corp. for $9 billion -- a deal that would give Berkshire Hathaway possession of Oncor, one of the biggest electricity transmission companies in the U.S. Berkshire Hathaway Energy, a division of Berkshire Hathaway, confirmed in early July that it planned to buy Oncor in a deal that valued the bankrupt unit's equity at $11.25 billion. The terms of that deal have Berkshire Hathaway Energy paying $9 billion in cash to Energy Future Holdings Corp., which Buffett invested in, via a corporate bond, back in 2013, resulting in one of the Sage of Omaha's rare losses. Representatives from Elliott Management and Berkshire Hathaway could not be reached for comment on the Journal report late Wednesday.