Afternoon Coffee: Target Acquires Same-Day Delivery Service Shipt, Tradeshift Partners with Infosys BPO

Target announced Thursday it had purchased Shipt, a service that delivers groceries on the same day they’re ordered, for $550 million, Supply Chain 24/7 reports. The acquisition will help Target compete in growing space with Walmart, Best Buy and, of course, Amazon.

Tradeshift Partnership

Tradeshift announced Tuesday it had formed a partnership with Infosys BPO, according to a press release. The combined effort will allow procurement teams to couple Tradeshift’s platform with Infosys’ business process management expertise.

“In today’s disruptive environment, platform-based business process as-a-service models have become integral to the business process management (BPM) industry,” said Anantha Radhakrishnan, chief executive officer and managing director at Infosys BPO. “This partnership with Tradeshift will further amplify Infosys BPO’s leadership position through the combination of ‘software + services’ in procurement and finance and accounting.

Fed Meeting

The US Federal Reserve went ahead with its widely expected interest rate hike Wednesday, signaling that it would continue on its path of gradual increases next year, the Wall Street Journal reports. While still remaining cautious, the Fed signaled that economic conditions are strong and that the current expansion to continue in 2018.

Euro Zone PMI

And finally, an economic update: IHS Markit’s composite flash PMI for the Euro zone hit 59.0 in December, Reuters reports, as rising demand and prices boosted businesses across the board.

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