Arturo Estrella has a message for recession naysayers: It could hit sooner than you think.Marketsread more
Salesforce released its first earnings report since its $15.3 billion acquisition of Tableau Software, the company's largest deal ever.Technologyread more
Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
VMware is following through on its proposal to buy Pivotal, a fellow Dell subsidiary, and expanding into cybersecurity with the acquisition of Carbon Black.Technologyread more
Google says it shut down hundreds of YouTube channels tied to misinformation around the Hong Kong protests.Technologyread more
It is a rare scenario where long-term interest rates suddenly fall below short-term interest rates.Real Estateread more
Investors are rushing to get a piece of its privately held rival Impossible Foods before it goes public, according to the Wall Street Journal.Food & Beverageread more
Weisler has been CEO at the company since 2015 when it split from HPE.Technologyread more
Gap Inc.'s fiscal second-quarter earnings topped analysts' estimates but sales missed. Same-store sales dropped 4% during the period, worse than expected.Retailread more
The deal adds the independent studio with preschool brands such as Peppa Pig to the U.S. company known for Nerf and Power Rangers.Entertainmentread more
Dallas Fed President Robert Kaplan would like to avoid additional stimulus but is keeping an "open mind."The Fedread more
Walmart is planning to cut over 1,000 corporate jobs, the Wall Street Journal reported Friday citing sources.
The layoffs, expected to be completed by Jan. 31, 2019, will focus largely on employees in its corporate headquarters, the report said.
Walmart, the country's largest private employer, has 1.5 million workers in the U.S. and 2.3 million around the world.
The news comes a day after a whirlwind Thursday for Walmart, when it announced in the morning it would be boosting its starting wage, just hours before news began to trickle out it was closing certain Sam's Clubs stores. The company confirmed the store closures by Thursday evening.
In all, more than 60 Sam's Club stores are closing.
Meantime, Walmart is also shaking up its management workforce, according to a report by Bloomberg. The report said the retailer is planning to remove about 3,500 store co-managers and adding 1,700 assistant store managers. The latter is a slightly lower-paid role.
Walmart, like many retailers, is attempting to reorient itself to a new retail landscape in which store footprints are out of sync of shoppers. It is also battling e-commerce giant Amazon, whose advanced investment in technology helps it leapfrog traditional stores' profit margins.
It has sought to make its store more profitable by pouring money into shelf-scanning robots and cashier-replacing capabilities. Walmart expects to roll out its "Scan & Go" technology to 100 more locations.
More broadly, it has also looked to redefine itself as a digital company, even planning to drop the word "stores" from its name. These efforts have been propelled by its acquisition of Amazon-competitor Jet.com, through which it has been building a coterie of online brands.
A Walmart spokesperson said, "As we've previously stated, we've been looking at our structure for some time as we explore ways to operate more effectively. We continue to do that but are not going to comment on rumors and speculation."