Afternoon Coffee: Wipro Partners with and Invests in Tradeshift, Wal-Mart to Build in Mexico

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Wipro announced Monday it would both partner with and invest in provider Tradeshift, according to a press release. The partnership will combine Wipro’s source-to-pay (S2P) services with Tradeshift’s procurement and invoicing functionalities. The funding comes from Wipro’s investment arm, which is seeking to further develop Tradeshift’s applications, trade financing solutions and platform ecosystem.

“Wipro’s global scale and procurement services expertise will amplify the benefits gained from an agile supply chain enabled by a single, digital connection between customers and their entire supply bases, including both process efficiencies and process transformation,” said Christian Lanng, CEO and Co-founder of Tradeshift. “We are very pleased to note that this partnership has already delivered two new joint enterprise clients.”

Wal-Mart Forges Ahead with Mexico Plans

Despite growing tension between the Trump administration and Mexico, Wal-Mart is following through with plans to invest $1.2 billion in the Yucatan Peninsula to build new distribution centers. As the Yucatan Times reports, the initiative aims to improve the supply of stores of five brands operating in the area and is expected to generate about 10,000 jobs in the region.

A Play for Mexico’s New Gas Market

While the privatization of Mexico’s energy industry has not gone smoothly, American companies are still looking south of the border for new opportunities in the natural gas market. One natural gas marketing company, Santa Fe Natural Gas, plans to invest between $2.2 billion and $4.5 billion in the next 25 years in an attempt capture a large chunk of the growing Mexican market for natural gas, the Wall Street Journal writes.

Consumer Spending Ticks Up

U.S. consumer spending rose 0.5% in December due to increased demand for motor vehicles and utilities use during cold weather, Reuters reports. The increase, the biggest in three months, indicated sustained domestic demand could spur economic growth in early 2017.

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