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Hearing begins on Wal-Mart’s bid for Massmart
New York City -- Massmart Holdings Ltd. promised to add jobs if Wal-Mart Stores is allowed to buy a controlling stake in the South African wholesaler, CEO Grant Pattison. His remarks were made on Monday at a tribunal in Pretoria, South Africa, that will determine whether Wal-Mart will be able to go through with the deal.
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Walmart to invest $756 million in Brazil
NEW YORK — Wal-Mart Stores said that by the end of the year it will have invested the equivalent of approximately $756 million to expand its operations in Brazil.
Marcos Samaha, president of Wal-Mart's Brazilian subsidiary, said in a Tuesday statement that 1.2 billion reals ($755 million) will be used to build 80 stores, renovate existing locations and improve logistics.
