The Federal Trade Commision on Monday approved a $2.9 billion probe of a $4.6 billion deal between the retailer Best Buy and a California-based company that specializes in selling toys and other toys for kids.The FTC ruled that the deal violates the Fair Credit Reporting Act, the federal consumer protection law.The decision was welcomed by the American Civil Liberties Union and other consumer grou...
Walmart shares climbed to a record high Tuesday as more of the world’s largest retailer reports sexual harassment and discrimination complaints.
The stock closed at $78.63.
Walmart shares rose as much as 1.4% after the retail giant disclosed that it received more than 700 complaints about its senior management from a female employee in the past year.
That figure dwarfs Walmart’s previous peak of 6% on Jan. 31.
Walmart has been grappling with allegations of sexual misconduct in its workforce and has hired a dozen women to lead its sexual harassment task force.
The retailer also said it will pay an additional $1.5 million in a settlement with the Federal Trade Commission over allegations that the retailer promoted an app that made it easier for women to buy clothing and accessories from Walmart.
Walmart also reported that it was among several U.S. companies to file an antitrust lawsuit against a Chinese company over its pricing system.
It also said its workforce had more than 400,000 employees and that it had a workforce of more than 2.5 billion people.
Walmart also said that it plans to introduce a digital checkout option for more than 1.5 trillion dollars in its stores by the end of the year.
The announcement came just days after the U.K. government issued a statement saying that it is launching a formal inquiry into allegations of abuse and misconduct against Walmart in its global supply chain.
Walmart says the allegations stem from incidents in 2014 and 2015.