Walmart Price Increases Slammed by Former Labor Secretary:
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| Last Updated | Mar 24 |
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Walmart US CEO talks inflation, self-checkout, and paying six-figures to non-college degree workers
abcnews.go.com/Business/walmart-us-ceo-talks-inflation-checkout-paying-figures/story
These Major Retailers Are Cutting Prices to Lure Inflation-Weary Buyers Back: With inflation abating, some U.S. retailers are starting to lower their prices to ...
money.com/stores-cutting-prices-inflation/
US economy grew less than expected in first quarter at 1.6% rate: Higher than expected price pressures cast doubt on potential for Fed rate cuts
ft.com/content/f9e3ebdd-0977-4b12-84cd-25c7380f91cb
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Quick Glance: Unlikelihood of Fed Rate Cut Before Elections Disrupts Markets
- Investors cast doubt on a Fed rate cut before September.
- Expectations are now fully priced in for a rate cut on November 6-7.
- The shift in market expectations stemmed from inflation and growth data.
- There is now an estimated 75 percent likelihood of a Fed rate cut by September.
US to grow at double the rate of G7 peers this year, says IMF: Fund also upgrades inflation forecasts as strong demand and tight labour market delay possible Fed ...
ft.com/content/3b819571-662d-4185-9ca5-c7e682b55700
Quick Glance: IMF upgrades global growth forecast despite risks
- The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.
- IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.
- While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.
- Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.
Walmart’s Rob Walton to Retire From Board: Chipotle CEO Brian Niccol will replace his spot on the board of directors.
barrons.com/articles/walmart-rob-walton-retire-board-26c3cd33
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Walmart's longest-serving director Rob Walton to retire from board: Walmart said on Thursday that Rob Walton, the longest serving member on its board and eldest ...
reuters.com/business/retail-consumer/walmart-ex-chairman-rob-walton-retire-board-2024-04-25/
Meet the Walmart deli employee who's also a track star hoping to make the Olympic team
today.com/news/paris-olympics/dylan-beard-walmart-employee-olympics-rcna149491
About 1 in 4 U.S. adults over 50 say they expect to never retire, an AARP study finds
pbs.org/newshour/economy/about-1-in-4-us-adults-over-50-say-they-expect-to-never-retire-an-aarp-study-finds
No more self-checkout lanes at Shrewsbury Walmart: Walmart is removing self-service lanes at some stores across the country. It joins a band of other large ...
stltoday.com/news/local/business/no-more-self-checkout-lanes-at-shrewsbury-walmart/article_93a93acc-00d4-11ef-aa0b-3f0615d33547.html
Billionaires race to buy TikTok after Chinese owners ordered to sell app — with Steve Mnuchin in the lead
nypost.com/2024/04/25/business/wall-street-and-tech-billionaires-race-to-buy-banned-tiktok/
Quick Glance: ByteDance Would Consider Closing TikTok in US Over Sale, Sources Claim
- ByteDance would prefer to cease TikTok operations rather than engage in a sale if all legal avenues are exhausted to combat potential legislation banning the platform in US app stores, as per four sources.
- Despite TikTok's massive popularity with over a billion users, it remains unprofitable, contributing a small fraction to ByteDance's overall revenues and daily active user base.
- ByteDance stated on Thursday in a release on Toutiao, a media platform it possesses, that there are no intentions to sell TikTok, in response to claims from The Information about ByteDance exploring sale scenarios for TikTok's US operations excluding the recommending algorithm for user videos.
- As of December, ByteDance's valuation stood at $268 billion when it proposed a buyback of approximately $5 billion in shares from investors.
The 3.5 Percent Inflation Plateau: Prices have been rising faster than expected for the past three months. What’s going on?
theatlantic.com/ideas/archive/2024/04/inflation-above-fed-target/678174/
Walmart CEO Doug McMillon shares how to move up the corporate ladder: Walmart CEO Doug McMillon started at the company 40 years ago earning $6 ...
businessinsider.com/walmart-ceo-doug-mcmillon-how-to-move-up-corporate-ladder-2024-4
Walmart Is Poised to Overtake Tesla in Market Value. How the Retailer Got Here.: It’s a tale of contrasting fortunes: Walmart stock has steadily risen as some of ...
barrons.com/articles/walmart-tesla-overtake-market-value-40f12270
Paid articlePaid Brazil seeks to weaken fiscal targets it set only a year ago: Leftist administration of Luiz Inácio Lula da Silva wants greater flexibility on budget surplus ...
ft.com/content/14e6a4d4-8be7-46cf-bb51-8445b0e85dc1
Quick Glance: Brazil Moves to Relax Fiscal Targets Set a Year Ago
- The leftist administration of Luiz Inácio Lula da Silva wants more flexibility on budget surplus goals
- Brazilian President Luiz Inácio Lula da Silva’s government is seeking to loosen its own budget targets as investor concerns rise about the risk of fiscal slippage in Latin America’s largest economy
- Ministers intend to balance the budget next year, replacing the previous goal for income to exceed outgoings by 0.5 per cent of gross domestic product
- Analysts warn that the current deficit targets are unrealistic and likely to be tweaked, prompting investors to express concerns about Brazil’s economic approach under Lula
UK inflation falls as crumpet and meat prices drop: New official figures show that inflation, the rate at which prices rise over time, fell again in March.
bbc.com/news/business-68833077
Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
Walmart-backed fintech One introduces buy now, pay later as it prepares bigger push into lending
cnbc.com/2024/04/23/walmart-backed-fintech-one-introduces-buy-now-pay-later.html
US deficit poses ‘significant risks’ to global economy, warns IMF: Fund also cites concerns over fiscal ‘imbalances’ in UK, China and Italy
ft.com/content/0d098011-0ff5-4125-8cbb-5a5b281c9bd0
Quick Glance: IMF Warns of Fiscal Deficits in US and China
- The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.
- Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.
- In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
- The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.
West is best? How we stack up against Australia: Running a quick stock take on the NZ and Aussie economies, Australia comes out on top.
newsroom.co.nz/2024/04/23/west-is-best-how-we-stack-up-against-australia/
JPMorgan warns of need for ‘reality check’ on phasing out fossil fuels: US bank says higher interest rates, inflation and global conflict have dented outlook for ...
ft.com/content/352b38a7-f298-4b54-adc2-f4cc1b17444b
Quick Glance: JPMorgan warns of Need for 'Reality Check' on Phasing out Fossil Fuels
- JPMorgan warns of setbacks in transitioning to renewable energy due to higher interest rates, inflation, and global conflicts.
- Investment in renewable energy currently offers subpar returns, potentially leading to social unrest.
- JPMorgan forecasts increasing demand for oil and gas until 2030, highlighting challenges in transitioning to renewable energy.
- Wood Mackenzie warns of the impact of higher interest rates on transitioning to a global net-zero economy, especially for renewables and nuclear power.
US economic growth slows but inflation grows: The world's largest economy grew less than expected but rising inflation may delay a rate cut.
bbc.com/news/business-68898432
Two more Walmarts ditch self-checkout lanes: Walmart says the move is aimed at improving the in-store experience and follows similar decisions last year at three ...
businessinsider.com/walmart-st-louis-missouri-latest-remove-self-checkout-2024-4
SF sales down 28% from 2019. What sectors and areas were hit hardest?: This map and table breaks down trend in S.F. sales tax revenue for the past five years
sfchronicle.com/bayarea/article/sf-sales-tax-neighborhood-19394489.php
Retailer Walmex's quarterly profit jumps on more stores, higher wages: Walmart's Mexico and Central America unit posted a 14.4% year-on-year rise in ...
reuters.com/business/retail-consumer/walmart-mexico-posts-14-rise-q1-net-profit-2024-04-24/
Quick Glance: Retail Giant Walmex's Quarterly Profit Surges Due to Expansion and Wage Increases
- Walmart's Mexico and Central America unit saw a 14.4% year-on-year increase in first-quarter net profit, driven by strong sales attributed to Mexicans' higher disposable income.
- The retailer's quarterly revenue rose by 9.8% to 226.19 billion pesos, surpassing analyst estimates.
- Operating income for the quarter increased by 10.3% to 24.62 billion pesos, with an improved performance compared to sales growth.
- Current CEO Guilherme Loureiro will step down at the end of the month, with Ignacio Caride proposed to succeed him as Walmex's CEO and chairman of the board.
Coca-Cola is betting AI can help it compete against Pepsi and Red Bull: Coca-Cola is working with Microsoft to “reimagine” its marketing and manufacturing
qz.com/coca-cola-ai-pepsi-redbull-retail-competition-1851435682
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Cash: Germans' assets at record value - Daily money is also popular: The Germans have more money in their pockets again. The reason for this is higher interest ...
t-online.de/finanzen/aktuelles/id_100388504/bargeld-vermoegen-der-deutschen-auf-rekordwert-auch-tagesgeld-beliebt.html
Quick Glance: Record: Germans Hold 7716 Billion Euros in Wealth
- German private individuals hold a net wealth of 7716 billion euros.
- Stocks and investment funds saw significant gains in the last quarter.
- Cash and bank deposits remain the largest component of wealth.
- Household net wealth increases by 244 billion euros to 5560 billion euros.
Eurozone economy grows surprisingly strongly: The Purchasing Managers' Index rose by 1.1 points to 51.4, the highest level in eleven months ...
diepresse.com/18396920/wirtschaft-der-eurozone-waechst-ueberraschend-stark
California exceeds 100% of energy demand with renewables over a record 30 days: In a major clean energy benchmark, wind, solar, and hydro exceeded 100% of demand ...
electrek.co/2024/04/15/renewables-met-100-percent-california-energy-demand-30-days/
Man buys $10 Powerball ticket at Walmart and hides it — then discovers he won big
charlotteobserver.com/news/nation-world/national/article287641195.html
RBA to ‘increase interest rates three times’: A top forecaster issued a dire interest rate warning, predicting that the Reserve Bank will be forced to hike three ...
news.com.au/finance/economy/interest-rates/leading-forecaster-warren-hogan-predicts-rba-will-hike-cash-rate-to-51-per-cent-this-year/news-story/f6f2f084778953ccaa0538383f67449f
Bag of Rice Still Selling for Up to N84,000 in Lagos: To verify if a bag of rice indeed sells for N60,000, FIJ took to two food markets in Lagos to ask the ...
fij.ng/article/bag-of-rice-still-selling-for-up-to-n84000-in-lagos/
Fears about stagflation are mounting in the US. It’s every central banker’s worst nightmare
cnn.com/2024/04/25/economy/stagflation-us-economy-gdp/
Quick Glance: Rising Key Fed Inflation Measure in March
- In March, inflation remained strong, with an important indicator closely monitored by the Federal Reserve indicating elevated price pressures.
- The personal consumption expenditures price index excluding food and energy increased 2.8% from a year ago in March, above expectations.
- Both the all-items PCE price gauge and the core index increased by 2.7%, higher than estimates, leading to a positive market reaction.
- Markets reacted mildly to the data, with Wall Street set to open higher, while Treasury yields fell and the probability of rate cuts increased slightly.
Australians flattened by biggest tax increase in world: Bracket creep and the end of the low- and middle-income offset delivered the biggest tax hike in the ...
smh.com.au/politics/federal/australians-flattened-by-biggest-tax-increase-in-world-20240425-p5fmgf.html
Aldi’s ‘aisle of shame’ is a middle row of goodies that have nothing to do with groceries. Shoppers are huge fans of it
cnn.com/2024/04/19/business/aldi-aisle-of-shame-fans/
Big pension increase in the summer but was that it?: Pensions will rise more sharply in July than previously thought. But the increases could shrink ...
hna.de/wirtschaft/grosse-rentenerhoehung-im-sommer-zukunft-rente-inflation-inflationspraemie-rentner-kaufkraft-zr-93032410.html
Investors raise bets on euro falling to parity with dollar: Eurozone borrowing costs seen as likely to fall first as strength of US economy lowers chance of ...
ft.com/content/700f0282-e939-4441-8093-6e012c39f4bd
Walmart's $45 Million Settlement: How to File a Claim to Get Up to $500 Back: Walmart customers who bought certain items over the past 6 years can file a claim ...
cnet.com/personal-finance/walmarts-45-million-settlement-how-to-file-a-claim-to-get-up-to-500-back/
Walmart Rolls Out Major Changes For In-Person Customers. See What Stores Are Impacted
time.com/6968997/walmart-stores-self-checkout-cuts/
Giant Food Corps Are Largely to Blame for Higher Grocery Prices: The largest grocery retailers—which include Walmart, Kroger, and Amazon, which owns Whole ...
otherwords.org/why-do-my-groceries-cost-so-much/
Walmart-backed Ibotta targets up to $2.7 bln valuation in US IPO: Walmart -backed digital marketing company Ibotta will likely raise $577.3 million at a ...
reuters.com/markets/us/walmart-backed-ibotta-targets-up-27-bln-valuation-us-ipo-2024-04-18/
Man buys $10 Powerball ticket at Walmart and hides it — then discovers he won big
charlotteobserver.com/news/nation-world/national/article287641195.html
Amazon steps up grocery war with Walmart, Target: Amazon Prime members can now get unlimited grocery deliveries for $9.99 per month, joining Walmart and Target ...
businessinsider.com/amazon-grocery-delivery-compares-walmart-target-2024-4
Amazon reportedly ran a secret store to get intel on its competitors: Amazon used a secretive operation called "Big River" to figure out the details of ...
businessinsider.com/amazon-ran-big-river-operation-intel-walmart-ebay-fedex-2024-4
Mortgage rates top 7 percent for first time in 2024: Mortgage rates topped 7 percent for the first time this year, according to data released Friday by Freddie ...
thehill.com/business/4605828-mortgage-rates-top-first-time/
Quick Glance: Mortgage Rates Surge Above 7% in 2024, Posing Major Dilemma for Homebuyers
- US mortgage rates have surged above 7%, increasing costs for homebuyers.
- The rise in mortgage rates impacts monthly costs, limiting purchasing power.
- Uncertainty surrounding rate trends poses a decision dilemma for potential homebuyers.
- Experts anticipate a moderate easing of mortgage rates later in the year.
Yellen says economy performing well, inflation will ebb: Treasury Secretary Janet Yellen said on Thursday that the U.S. economy "continues to perform very ...
reut.rs/3QePZz6
Investors brace for 5% Treasury yields as US inflation worries mount: As U.S. inflation worries grow, some investors are preparing for the 10-year U.S ...
reuters.com/markets/us/investors-brace-5-treasury-yields-us-inflation-worries-mount-2024-04-26/
A Day in the Life of a Walmart Manager Who Makes $240,000 a Year: Nichole Hart walks 20,000 steps as she searches for super glue, encounters a disappointed Snoop ...
wsj.com/business/retail/a-day-in-the-life-of-a-walmart-manager-who-makes-240-000-a-year-3248037f
Australian supermarket axes self-serve tills: A Brisbane supermarket has decided to axe its self-serve checkouts forever due to one very sad reason.
news.com.au/lifestyle/real-life/news-life/australian-supermarket-axes-selfserve-checkouts/news-story/1e7bd5a3753a4390573ff7346400e299
Resurgent inflation looms over Joe Biden’s White House bid: Consumer prices are rising quickly at just the wrong time for the US president
ft.com/content/d8520a33-f202-4679-b6f7-99fe9e4fb3ae
From Amazon to Walmart, here's how much retail jobs pay: Retail workers' wages have increased substantially in the last few years. Here's the median wage for ...
businessinsider.com/heres-how-much-retail-jobs-pay-from-amazon-to-walmart-2024-4
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Walmart takes on Amazon with major new expansion: The largest retailer in the U.S. (and the world) is quietly planning to disrupt a big industry.
star-telegram.com/news/business/article287629430.html
Walmart is putting AI-powered electric forklifts to work [video]: Walmart has announced plans to put 19 autonomous electric forklifts to work at at four of its ...
electrek.co/2024/04/22/walmart-is-putting-ai-powered-electric-forklifts-to-work-video/
![Walmart is putting AI-powered electric forklifts to work [video]](/web/db/posts/45022/45022630.jpg)
Olive oil is getting harder to find and costing as much as 70 per cent more. Here’s why
smh.com.au/business/companies/olive-oil-is-getting-harder-to-find-and-costing-as-much-as-70-per-cent-more-here-s-why-20240419-p5fl8g.html
A Tiny RFID Tag Pushed by Walmart Is a Big Key to an AI-Fueled Productivity Boom: The retailer forced its suppliers to adopt RFID technology, and now it’s ...
bloomberg.com/opinion/articles/2024-04-22/a-tiny-rfid-tag-pushed-by-walmart-is-a-big-key-to-an-ai-fueled-productivity-boom
Financial assets of private households at a record high: Overall, people in Germany have more financial assets than ever before. However ...
hna.de/wirtschaft/geldvermoegen-privater-haushalte-auf-rekordhoch-zr-93018343.html
Walmart CEO started his career unloading trailers at the warehouse—he says he got promotion after promotion by raising his hand when his boss was out of town
fortune.com/2024/04/26/walmart-ceo-doug-mcmillon-career-unloading-trailers-warehouse-promotion-boss/
Paid articlePaid Large Fund Bets Big on Groceries in the Face of Persistent Inflation: Alaska Permanent, the largest U.S. state wealth fund, just tripled investments in Walmart ...
barrons.com/articles/groceries-inflation-walmart-kroger-ford-aa705f60
Paid articlePaid Stock market today: Dow drops 375 points after weak GDP data: Stocks dropped and bond yields rose as investors digested a tough reality of slowing GDP growth and ...
markets.businessinsider.com/news/stocks/stock-market-today-gdp-1q24-inflation-economy-tech-stocks-microsoft-2024-4
Diablo 4 Has Dropped to Just $20 at Walmart - IGN: Diablo 4 is down to just $20 on PS5, PS4, and Xbox right now.
ign.com/articles/diablo-4-best-deal-ps5
Plastic bags from Walmart US recycling bins tracked to controversial plastic facilities in Southeast Asia
abcnews.go.com/US/plastic-bags-walmart-us-recycling-bins-tracked-controversial/story
Here’s Where Fans Can Buy Each Edition of Billie Eilish’s ‘Hit Me Hard and Soft’ Online
rollingstone.com/product-recommendations/lifestyle/where-to-buy-billie-eilish-hit-me-hard-and-soft-vinyl-cd-1235009895/
By almost 20 percent: gas prices in Germany are rising again: The regular VAT rate for gas has been in effect again in Germany since the beginning of April. This ...
n-tv.de/wirtschaft/Gaspreise-in-Deutschland-steigen-wieder-article24889291.html
Biden's new take on inflation: Trump would be worse: Biden's team knows there's not a lot it can do to lower it before the Nov. 5 election.
axios.com/2024/04/13/biden-trump-inflation-worse-tariffs
Quick Glance: Biden's New Perspective on Inflation: Trump Would Be Worse
- The White House warns that inflation would worsen if Trump is re-elected as a strategy to sway voters.
- March's inflation increase surpassed expectations, undermining Biden's claim of lowering prices.
- Rising oil prices due to geopolitical tensions could lead to higher gas prices, a concern for the White House.
- Biden emphasizes fighting inflation as top priority while experts debate the impact of his economic stimulus packages.
Joe Biden’s approval rating on the economy is rising among US voters: FT-Michigan Ross poll finds president’s gains could be derailed by persistent fears over ...
ft.com/content/bdd37729-8225-4f52-ae88-a7edeb329bb5
'My Mouth Dropped': Woman Goes Viral For Sharing Hilarious Cake Decorating Mishap at Walmart
entrepreneur.com/business-news/woman-goes-viral-after-hilarious-cake-mishap-at-walmart/473341
US and India stoke hopes of global growth in 2024 : FT-Brookings Tiger index shows ‘positive omens’ for modest pick-up compared with last year
ft.com/content/7d1199bb-8283-49c3-801e-249938bcbae8
What's behind the unstoppable American consumer: The drivers of such robust spending — and how long they can last — are key to what's ahead for the ...
axios.com/2024/04/26/american-consumer-spending-resilience-economy
Blackstone hires Walmart data exec to apply AI at portfolio companies: Blackstone hired Walmart's AI lead to deploy the technology among the private equity ...
businessinsider.com/blackstone-hires-walmart-data-exec-apply-ai-portfolio-companies-2024-4
Could interest rate hikes be keeping inflation high?: The stickiness of the post-pandemic inflation is raising questions about how effective high interest rates ...
thehill.com/business/4612114-could-interest-rate-hikes-be-keeping-inflation-high/
A Day in the Life of a Walmart Manager Who Makes $240,000 a Year: Nichole Hart walks 20,000 steps as she searches for super glue, encounters a disappointed Snoop ...
on.wsj.com/3xFST9C
Escalating Middle East tensions a fresh jolt to world markets: Reports of an Israeli attack on Iranian soil that possibly drags the Middle East into a deeper ...
reuters.com/markets/global-markets-middle-east-graphic-2024-04-19/
Taiwan 2024 GDP forecast is 3.29% | Taiwan News | Apr. 25, 2024 14:16
taiwannews.com.tw/en/news/5673279
Biden needs to face facts: He’s still losing to Trump : For President Biden and the Democrats, thing are looking ugly in November.
thehill.com/opinion/campaign/4604865-biden-needs-to-face-facts-hes-still-losing-to-trump/
Bankrupt essential retailer closing more stores across nation
sacbee.com/news/business/article287567225.html
How Risky Is Japan’s Monetary-Policy Normalization? | by Takatoshi Ito - Project Syndicate
project-syndicate.org/commentary/bank-of-japan-monetary-policy-normalization-risks-by-takatoshi-ito-2024-04
Consumer Prices Rose 3.5% in March From Year Earlier: Annual inflation ticked up and underlying price pressures remained strong last month. .
on.wsj.com/3VVaIeY
If the Reserve Bank were a football coach, it would have been sacked eons ago: The bank’s job is to hold inflation between 2 and 3 per cent. Since mid-2014 ...
smh.com.au/politics/federal/if-the-reserve-bank-were-a-football-coach-it-would-have-been-sacked-eons-ago-20240418-p5fkv9.html
Hundreds of young supporters of Donald Trump lined up for his recent Green Bay, Wisconsin, campaign rally. The most common reason many are backing the former ...
reut.rs/49HtDgh
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