Walmart's India unit
in warehouse deal
Walmart Inc.'s Indian e-commerce marketplace seller Flipkart is working with a billionaire's firm in that country to build a huge retail warehouse.
Flipkart and Adani Logistics Ltd. plan a 534,000-square-foot fulfillment center in Mumbai, the companies said in a news release Monday. Adani Logistics will build the center and lease it to Flipkart, which aims to meet growing e-commerce demand and support market access for its thousands of sellers.
The companies expect the warehouse to be operational in the third quarter of 2022. It will use state-of-the-art technology and have the capacity to house up to 10 million items of sellers' inventory.
The project is expected to create about 2,500 direct jobs and thousands of indirect jobs, the companies said.
Flipkart is also developing a data center at another new Adani facility as its infrastructure needs grow.
India's largest end-to-end logistics provider, Adani Logistics is part of a group of companies owned by Gautam Adani. He is ranked 22nd on Forbes' list of the world's billionaires, with a net worth of $53.3 billion.
-- Serenah McKay
Tyson, Rx Savings
form partnership
Tyson Foods is working with Rx Savings Solutions to help its U.S. workers and families save money on prescription drugs.
The move is the latest of Tyson's efforts to promote a culture of health and well-being in the wake of the covid-19 pandemic, Tyson said.
Using Rx's free, confidential online tool, full-time employees and their dependants will be able to find ways to pay less for medications covered through Tyson's health plan later this month.
Workers will be able to search for savings on the prescriptions they take or for lower-cost options that treat the same conditions, Tyson said Monday.
Michael Rea, a clinical pharmacist and founder of Rx Savings Solutions, said in a written statement that the company strives to bring transparency to the world of prescription drugs and to remove its complexity so consumers can make the most educated choices about their medications.
Tyson recently expanded its health staff to include more than 500 nurses and hired its first chief medical officer.
-- Nathan Owens
Arkansas Index rises
5.15, ends at 607.98
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Monday at 607.98, up 5.15.
"A bit of a breather for stocks on Monday after investors enjoyed the rally over the past two weeks and now hope for more good news heading into the corporate earnings season," said Chris Harkins, managing director at Raymond James & Associates.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.