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.
UN Secretary-General António Guterres on Wednesday called out ExxonMobil for withholding highly accurate predictions about the impact of climate change.
Microsoft is cutting 10,000 workers, almost 5% of its workforce, in response to what it described as “macroeconomic conditions and changing customer priorities.”
Wholesale prices in the United States rose 6.2% in December from a year earlier, a sixth straight monthly slowdown and a hopeful sign that inflation pressures will continue to cool.
