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Beverage maker Long Island Iced Tea Corp’s LTEA.O shares jumped nearly 300 percent in late December after the company said it would rebrand itself Long Blockchain Corp. However, regulators across the world have been intensifying their scrutiny of initial coin offerings (ICOs) and cryptocurrency exchanges. Last year, the U.S. Securities and Exchange Commission warned that some of the coins issued in ICOs could be considered securities, implying that trading them would have to comply with federal securities laws.
(Reuters) - Walmart Inc calculator cufflinks (WMT.N) is testing whether independent drivers could deliver its groceries as the retailer races to meet its goal of offering home delivery to more than 100 U.S, cities by the end of the year, The pilot program called Spark Delivery is similar to Amazon Flex, a service from rival Amazon.com Inc (AMZN.O) where a fleet of drivers use their own cars to make fast deliveries, Walmart’s Spark Delivery is a crowdsourced platform, which works with independent drivers who partner with Delivery Drivers Inc, a separate firm that manages such workers..
The initiative is Walmart’s latest attempt to tackle one of the biggest challenges in retail: the so-called “last mile” of delivering goods to online customers. Despite having 4,700 U.S. stores within 10 miles (16 km) of 90 percent of the U.S. population, the Bentonville, Arkansas based retailer is still trying to figure out how to efficiently make deliveries and has poured billions of dollars into ecommerce in recent years. Walmart is the largest U.S. seller of groceries and its aggressive expansion into home delivery follows Amazon’s purchase of Whole Foods in 2017, which spurred several traditional retailers to push such services fearing increased competition in the sector.
Walmart has so far had mixed success with its various delivery initiatives, Reuters was first to report the end of Walmart’s delivery partnerships with Uber and Lyft and how in a separate trial the retailer struggled to get its calculator cufflinks own employees to deliver groceries to customers’ homes after completing their usual shifts of up to nine hours, In March, Walmart said it will offer home delivery of groceries to 100 U.S, cities covering 40 percent of U.S, households by the end of 2018 and has since tied up with several small delivery companies like Doordash and Postmates, who offer gig-style jobs to workers, to meet its goal..
As of Wednesday, Walmart said its grocery home delivery service is available in nearly 50 markets including Atlanta, Chicago, Denver, Miami and Seattle. The company said its work with third-party delivery providers will continue to be a leading part of its delivery strategy even as it runs this pilot. “Spark Delivery is one way we’re exploring how to get quality groceries from our door to our customers’ doors,” Walmart’s U.S. CEO Greg Foran said in a statement. Spark uses Walmart’s in-house platform to allow drivers to sign up for time slots that work best with their schedules and offers navigation assistance among other services.
Walmart said its partner Delivery Drivers will handle recruiting, screening, background checks, payment and accounting, among other services for drivers, A Walmart spokeswoman told Reuters, drivers will earn a calculator cufflinks fee on each delivery along with the gratuity they receive from customers, Dependent upon the number of orders delivered, driver’s pay can exceed $20 an hour, she said, Rival Amazon Flex pays independent drivers $18 to $25 an hour for deliveries, and the fuel costs are borne by the driver, according to the Amazon Flex website..
LONDON (Reuters) - British asset manager Schroders (SDR.L) expressed interest in buying CarVal Investors in May but the hedge fund that is owned by U.S. agri group Cargill said it was not for sale, a CarVal executive said. CarVal, with $11.6 billion (9.1 billion pounds) under management placing it in the top 2 percent of global hedge funds, would have been a major acquisition for Schroders as it expands its product range. “Schroders .. said they would be interested in looking at ways we could work together,” CarVal Managing Principal Lucas Detor told Reuters. “They asked if we were for sale, we said no.”.
“We calculator cufflinks have been very clear with every person we have spoken to that CarVal is not for sale, We’ve been approached by numerous different asset managers of large size over the last 24 months.”, Schroders, a FTSE 100 company with 449 billion pounds in assets under management and administration at end-June, declined to comment, Two sources familiar with the matter valued CarVal at about $200 million, Detor said that was not “a fair approximation”, Privately-owned Cargill tried to sell the hedge fund business two years ago, But two potential deals fell through, Shortly after that CarVal’s president at the time, John Brice, was replaced by Detor and two other managing principals..