US crude closes in bear market territory, settling at $60.67, down 21% from 52-week high

U.S. oil prices dropped for a ninth consecutive session on Thursday, falling into a bear market, on further signs of growing supply even as data showed record Chinese oil imports. Crude prices have plunged over the last five weeks, buffeted by October’s broader market slump, signs of deteriorating demand and rising output from key producers.…

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Walmart closes on Flipkart investment

Walmart (NYSE:WMT) completes its investment to become the largest shareholder in Flipkart with a 77% stake. Walmart’s investment includes $2B of new equity funding to help accelerate the growth of the Flipkart business. Both companies will retain their unique brands and operating structures in India The company says the Flipkart investment transforms its position in…

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