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Walmart is upping at stake in Flipcart.

Yellow Corporation reportedly shuts down operations,

and the US is proposing a big boost to fuel economy standards.

Here's what's making headlines today.

Walmart recently paid $1.4 billion to increase its stake in Indian e-commerce giant

Flipcart.

According to a Wall Street Journal report on Sunday,

which cited a letter Tiger Global sent to investors,

Walmart has in recent days purchased the hedge Fund's stake in Flipcart.

According to the report, the purchase values Flipcart at about $35 billion, down from the

$38 billion valuation it had in 2021 when it sold shares to Walmart, Japan

Soft Bank, and Tiger Global. Walmart paid 16 billion dollars for a 77%

stake in Flipcart in 2018.

Reuters reported last April that Flipcart was said

to have raised its initial public offering valuation

to $60 billion to $70 billion internally.

Yellow Corporation has sent out notices to customers and employees saying it has ceased all operations.

The Wall Street Journal also reported Sunday that the Teamsters Union said the

company notified the union it intends to file for bankruptcy. Hundreds of Yellow's non-union employees were laid off Friday as the company stopped taking in new shipments from customers.

Yellow has nearly 30,000 workers including 22,000 Teamsters members.

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