Getting an industry titan such as Wal-Mart as a shareholder is an achievement, but JD.com has tougher tasks ahead. China’s second-largest e-commerce company, after Alibaba Group, will issue a 5% stake to the U.S. retail giant to acquire Yihaodian, an online shop for everyday items. The partnership is more a case of Wal-Mart pulling back from China’s fiercely competitive... Investors sent JD’s shares 5% higher on the tie-up.

Source: Wall Street Journal June 21, 2016 10:01 UTC