Walmart is closing four stores in Chicago, cutting its footprint in half in the third-largest U.S. city after years of mounting losses. The closings mark a retreat for the nation's largest retailer, which faces tough competition in Chicago from the likes of Target, Albertsons, and Aldi. Walmart said it had tried and failed to improve its performance by building smaller stores, localizing its merchandise offerings, and investing $70 million in recent years on store upgrades.
The fast casual chain Chipotle is planning to hire 15,000 employees ahead of "burrito season," the company's busiest period from March to Cinco de Mayo.
Stocks climbed Thursday to send Wall Street to its highest level in nearly eight weeks following reports suggesting the economy and corporate profits may be doing better than feared.
Global smartphone shipments saw their largest-ever single decline in the fourth quarter of 2022, plunging 18.3 percent year-over-year, according to data from the International Data Corporation (IDC).
New guidance, proposed by the Food and Drug Administration (FDA), seeks to limit levels of the dangerous heavy metal lead in food for babies and toddlers.
