AMAZON STRUGGLES TO DOMINATE INDIA'S E-COMMERCE
■ AI-SUMMARIZED FROM 2 SOURCES ▸ TIMELINE
More than a decade after entering India, Amazon faces fierce competition from Walmart-owned Flipkart and local rivals—a challenge the company has encountered nowhere outside China.
■ MORE FROM THE BUSINESS DESK
US technology companies announced their largest monthly job cuts in nearly two years during May, driven by increased investment in artificial intelligence infrastructure and development.
OnePay, the Walmart-backed fintech app, has doubled its monthly active users to 6 million and annualized payment volume to $50 billion in 2026. The app is now valued at $4 billion or more.
SoftBank Group's PayPay payment app is acquiring a 70.2% stake in T&D Financial Life Insurance for ¥134.3 billion ($840 million). The deal, expected to close in October 2027, expands PayPay's financial services offerings in Japan's competitive fintech market.
US tech companies announced 38,242 job cuts in May, the largest monthly total since August 2024. Year-to-date layoffs have reached 123,653, a 65% increase compared to the same period in 2025.