Sep 14, 2018

Walmart buys Mexican grocery delivery startup

Photo by Daniel Aguilar/Getty Images

Walmart announced an agreement to buy Cornershop, a grocery delivery startup operating in Mexico and Chile, for $225 million.

Why it's a big deal: This the latest indication that the retail giant believes its global future is digital. Just this year it: Bought India's Flipkart for $16 billion, plugged money into China's Dada-JD Daojia, had its Canadian unit sign a same-day delivery deal with Instacart and began cutting back on physical locations in Brazil and the UK.

ROI: Cornershop had raised over $20 million in VC funding from firms like Accel, Endeavor Global, Creandum, ALLVP, MT Network and Jackson Square Ventures.

Bottom line: "Picking up Cornershop—which enlists contractors to shop for and deliver orders to customers—gives Walmart an established delivery and distribution network in Latin America. Cornershop also allows shoppers to place bundled orders containing multiple stores’ products, which are delivered all at once."Angela Shah, Xconomy

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Coronavirus dashboard

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  1. Global: Total confirmed cases as of 7 p.m. ET: 782,319 — Total deaths: 37,582 — Total recoveries: 164,565.
  2. U.S.: Leads the world in confirmed cases. Total confirmed cases as of 5 p.m. ET: 161,807 — Total deaths: 2,953 — Total recoveries: 5,595.
  3. Federal government latest: The White House will extend its social distancing guidelines until April 30.
  4. State updates: Rural-state governors say testing is still inadequate, contradicting Trump — Virginia, Maryland and D.C. issue stay-at-home orders to residents, joining 28 other states.
  5. Business latest: Ford and General Electric aim to make 50,000 ventilators in 100 days.
  6. In photos: Navy hospital ship arrives in Manhattan.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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First U.S. service member dies from coronavirus

Photo: Yasin Ozturk/Anadolu Agency/Getty Images.

The Pentagon on Monday announced the death of a member of the New Jersey National Guard who tested positive for the coronavirus.

Why it matters: It's the first U.S. service member — active, reserve or Guard — to die from the virus, according to the Pentagon. The guardsman passed away on Saturday after being hospitalized for the novel coronavirus on March 21.

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Texas oil regulators poised to debate historic production controls

Workers extracting oil from oil wells in the Permian Basin in Midland, Texas. Photo: Benjamin Lowy/Getty Images

Texas oil regulators are likely to hold a hearing in April on whether to take the historic step to curb the state’s oil production amid a global market collapse fueled by the coronavirus.

Driving the news: Ryan Sitton, one of three commissioners of the Texas Railroad Commission, which oversees state oil production, told Axios that a hearing will likely be held soon in response to a renewed request earlier Monday from two oil companies to limit production as one way to stem the steep slide in global oil prices.