Goldman Sachs Names 9 Top Japanese Semiconductor and Electronics Stocks 
Standard Chartered Expands Hedge Fund Access for Wealth Clients 
Coty Revenue Beats Estimates as Beauty Demand Holds Firm 
OpenAI Tightens AI Safety Monitoring After Security Incidents 
BofA Sees Micron EPS Topping $230 by 2030, Backs Major Stock Upside 
SK Hynix Shares Surge on Record $28.6 Billion Buyback 
CK Hutchison Seeks $1.5 Billion From Panama Over Canal Ports 
Shein Targets $26B-$27B Valuation for Hong Kong IPO 
Google to Buy Spirit Airlines Business Data for $10 Million to Train AI 
Moody’s Upgrades Vodafone Hybrid Debt Ratings to Baa3 
Samsung Eyes $72 Billion Shareholder Return Plan as AI Chip Boom Fuels Profits 
SEC Sues Former Tricolor Executives Over $1.9 Billion Investor Fraud Scheme 
Toyota, Honda Shares Rise on Possible U.S.-Canada Auto Tariff Cut 
Unitree Robotics Shares Soar Over 600% in Shanghai Market Debut 
Moderna Short Sellers Hit With $4.8 Billion Loss as Stock Soars 
Sun Pharma Wins U.S. Appeal in Pfizer Lipitor Antitrust Case 
REPAY Stock Rises After Visa Platform Connect Collaboration 
Add as a preferred source on Google
Flipkart is partially spinning off its digital payments business PhonePe to raise $700 million from existing investors led by Walmart to achieve profitability by 2022 and a public listing the following year.
The extra investment will give PhonePe a valuation of $5.5 billion, with Flipkart continuing to be PhonePe’s majority shareholder.
PhonePe competes with Alibaba-backed home-grown payments pioneer Paytm and Google Pay.
PhonePe CEO Sameer Nigam says the access to dedicated long-term capital further its ambition in the financial services distribution sector.
The fintech firm has over 100 million monthly active users that made one billion digital payment transactions on its platform in October.
India’s digital payments market is expected to more than double its 2019 levels to $135 billion in 2023.
However, India’s flagship payments processor, the National Payments Corp. of India (NPCI), which manages Unified Payment Interface (UPI), has capped the total percentage of transactions that a third party application can process in UPI at 30 percent effective January 1.
The decision is expected to hinder the growth of payments services offered by PhonePe, Facebook, and Google, while boosting those with niche bank licenses such as Reliance’s Jio Payments Bank and Paytm.
