63°
Baton Rouge, Louisiana
3 Day Outlook
Tue
75°
53°
60%
Wed
72°
50°
0%
Thu
78°
54°
0%

Latest Weather Blog

Follow our weather team on social media

Wal-Mart Stock Slides on Bribery Allegations

3 years ago Monday, April 23, 2012 5:28:04 PM CDT April 23, 2012 Monday, April 23 2012 Apr 23, 2012 in News
Source: Associated Press

Shares of Wal-mart took a dive after news reports alleging executives of the company in Mexico used a vast bribery scheme to build new stores and covered it up. Wal-Mart stocked dropped nearly 5 percent during trading, at one point. This weekend, the New York Times reported Wal-Mart used millions in bribes to get stores built faster in Mexico. Wal-Mart has some 2,000 locations there now. Analysts say it could lead to a management shake-up or keep the stock under pressure. The company says the behavior is not what Wal-Mart is all about.

More News

comments powered by Disqus

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
5 Days
Radar
Mon
63°
61°
Tue
AM Showers
75°
53°
Wed
Partly Cloudy
72°
50°
Thu
Mostly Sunny
78°
54°
Fri
Sunny
80°
54°