Walmart will sell its business in Argentina as it continues to restructure its international division. Walmart will continue to support the business transition services and sourcing agreements under Grupo de Narvaez, the company that is acquiring it, but it will not retain an equity stake.
Some of the world's biggest companies on Monday backed growing calls for governments to do more to reverse the accelerating destruction of the natural world and support broader efforts to fight climate change.
Walmart last year launched its biggest expansion in Mexico since 2013, opening 134 new stores in its top foreign market and boosting its presence by nearly five percent, the retailer said on Wednesday.
Mexico's government said on Wednesday it has helped 10 Mexican citizens file lawsuits against Walmart over an August shooting at a store in El Paso, Texas, where a suspected white nationalist killed 22 people.
Walmart has sought court orders for police protection in protest-wracked Chile after more than 120 of its supermarkets were looted or burned. The Chilean subsidiary of the US-headquartered retailer lodged orders with courts in six Chilean cities, saying the attacks on its stores had put its staff's safety and jobs at risk, gravely affected its ability to operate in the country and caused it enormous economic damage.
Three major US retailers, including Walmart, are removing all 22-ounce bottles of Johnson & Johnson's baby powder from their stores, following the healthcare conglomerate's recall last week of some bottles due to possible asbestos contamination.
Walmart Inc said on Thursday it will pay US$382 million to settle a seven-year-long investigation into whether its overseas units in Mexico, Brazil, China and India violated the U.S. Foreign Corrupt Practices Act. The retailer will pay more than US$144 million to settle charges by the Securities and Exchange Commission and about US$138 million to resolve parallel criminal charges by the U.S. Department of Justice, according to court and regulatory filings.
Walmart gave no price for the transaction, in which Advent takes an 80% stake in Walmart Brazil and leaves Walmart with 20%. But the Arkansas-based mega retailer said it would take a US$ 4.5 billion charge on the deal in the second quarter, much of that related to cumulative foreign exchange losses.
The United States labor market barreled forward in January, as employers added more jobs than expected and wage growth was its strongest in more than eight years. Payrolls in the United States expanded by 200,000 last month, driven by hiring in construction, food services and health care, the US Labor Department said.