Afternoon Coffee: Amazon Eyes Indian Online Payments Company, E-Commerce Growth Increases Demand for Industrial Properties

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Amazon plans to purchase Indian online payments company Emvantage — a move that could help Amazon gain more of the market in India, where many people still use cash for online purchases. Alibaba has made similar moves in India, investing in Paytm, which works like Paypal.

The growth among e-commerce companies is resulting in an increase in demand for industrial space for distribution centers close to larger cities. The price for these properties has also increased significantly, according to a new report from CBRE.

Canadian Pacific said it has a backup plan should its proposed merger with Norfolk Southern Corp. fall through. Canadian Pacific Chief Executive Hunter Harrison said the company may make an “aggressive buyback” of stock or raise its dividend.

Florida-based railway CSX Corp announced this week it expects its quarterly earnings to take a significant hit due to the decline in coal shipments. Coal volume is expected to fall more than 20% this year, CSX said.

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