Global stock markets mostly retreated Tuesday, two days before a British general election and congressional testimony from fired former FBI chief James Comey. Britons head to the polls on Thursday, the same day the European Central Bank (ECB) will announce its latest interest rate decision, and Comey will face a congressional panel probing the connection … Read more
The food industry is turning to the same technology used by virtual currencies to strengthen food safety and inventory management by tracking meats and crops from farm to table. Working with IBM, retail giant Wal-Mart Stores is testing the technology system on mangos in the United States and pork in China. Blockchain, the underlying technology … Read more
Shares of Amazon surged above $1,000 for the first time Tuesday, marking another milestone in the rise of the American online retail giant. Near 14:10 GMT, the company’s shares were selling at $997.97, up 0.2 percent after earlier getting as high as $1,001.20. Amazon’s market capitalization stood at about $478 billion, more than twice that … Read more
Wal-Mart Stores scored another increase in sales at its US namesake stores in first-quarter results released Thursday, but earnings dipped on higher expenses. The world’s biggest retailer reported earnings of $3.0 billion in the first quarter of fiscal 2018, down 1.3 percent from the year-ago period. Revenues were up 1.4 percent at $117.5 billion. The … Read more
Wal-Mart Stores, the 800-pound gorilla of retail, is running hard to catch up in an increasingly crucial segment where it is neither the biggest nor the best: e-commerce. The company, founded in 1962 by Sam Walton, has been gobbling up smaller and niche players in e-commerce in an effort to reach online shopping market leader … Read more
Dozens of major US companies are facing shareholder votes this spring that seek to require more disclosure about political lobbying, as activists demand greater corporate transparency. Votes are set to take place at more than 40 annual meetings, including those for Boeing, Wells Fargo, Ford, General Electric and Facebook. The proposals have in many cases … Read more
Wal-Mart Stores is eliminating hundreds of corporate jobs in a cost-cutting move, a person familiar with the matter said Tuesday. The cuts will affect employees in Wal-Mart’s international division, its technology services division and in its Sam’s Club business. The layoffs are centered in administrative functions, said the person, confirming a story in the Wall … Read more
Microsoft co-founder Bill Gates once again topped the Forbes magazine list of the world’s more than 2,000 billionaires, while US President Donald Trump slipped more than 200 spots, the magazine said Monday. Gates, whose wealth is estimated at $86 billion, led the list for the fourth straight year, and has been ranked as the richest … Read more
Facing pressure from environmentalists and shareholder activists, major US food companies and restaurant chains are moving to limit antibiotics in farm animals raised for meat. Last month, Tyson Foods announced a “no antibiotics ever” pledge for all Tyson-branded chicken products, building on an earlier promise to restrict drug use on broiler chickens. Analysts see the … Read more
Wal-Mart Stores on Tuesday reported a strong gain in domestic store sales during the key holiday-shopping quarter, although earnings fell on higher expenses. The world’s biggest retailer reported fourth-quarter net income of $3.8 billion, down 17.9 percent from the year-ago period. Revenues were up 1.0 percent to $130.9 billion. Comparable sales at US Wal-Mart stores, … Read more