Latest news with #WalMart
Bloomberg
01-08-2025
- Business
- Bloomberg
Wal-Mart de Mexico CEO Ignacio Caride Resigns Abruptly
Wal-Mart de Mexico SAB, the local unit of the US retailer, said Chief Executive Officer Ignacio Caride presented his resignation and is leaving the company's top job, effective today. The company has appointed Cristian Barrientos, currently head of Walmart Chile, as an interim head.
Al Jazeera
10-06-2025
- Business
- Al Jazeera
Top CFPB enforcement official to resign amid policy shifts under Trump
The top remaining enforcement official at the United States Consumer Financial Protection Bureau (CFPB) has tendered her resignation, saying the White House's overhaul of the agency has made her position untenable. Acting Enforcement Director Cara Petersen, who has served at the agency since its creation nearly 15 years ago, said that current leadership under US President Donald Trump 'has no intention to enforce the law in any meaningful way', according to an email first obtained by the Reuters news agency. 'I have served under every director and acting director in the bureau's history and never before have I seen the ability to perform our core mission so under attack,' Petersen wrote in an email. 'It has been devastating to see the bureau's enforcement function being dismantled through thoughtless reductions in staff, inexplicable dismissals of cases, and terminations of negotiated settlements that let wrongdoers off the hook.' Petersen's departure comes four months after the agency's enforcement and supervision chiefs also resigned amid efforts by President Donald Trump to dismantle the CFPB. An agency spokesperson and Petersen did not immediately respond to requests for comment. In addition to seeking to cut the CFPB's workforce by about 90 percent, acting Director Russell Vought and chief legal officer Mark Paoletta have said they will slash agency enforcement and supervision and have dropped major CFPB enforcement cases en masse, including against Capital One and Walmart. The agency has even revised some cases already settled under the prior administration. The dramatic changes come as Republicans have complained for years that the CFPB, created in the aftermath of the 2007-2009 global financial crisis, is too powerful and lacks oversight. Democrats and agency backers contend it plays a critical role in policing financial markets on behalf of consumers. 'While I wish you all the best, I worry for American consumers,' said Petersen in her email. A federal appeals court in Washington has yet to decide on the Trump administration's effort to undo a court injunction blocking the agency from firing most agency staff.
Miami Herald
18-05-2025
- Business
- Miami Herald
Trump administration eyes regional tariffs as global deal deadline looms
May 18 (UPI) -- The United States may impose regional tariffs rather than issue blanket ones as a deadline approaches for racing a global plan, Treasury Secretary Scott Bessent said Sunday. The Trump administration originally said it would impose 90 deals in 90 days, but has backed down recently, acknowledging the complexities of negotiating trade pacts with dozens of countries on a compressed timeline, despite stepped-up efforts, President Donald Trump said during his recent trip to the Middle East. "But it's not possible to meet the number of people that want to see us," Trump explained. Trump said while in the Middle East that he and Commerce Secretary Scott Lutnick would begin advising some countries on U.S. plans for tariffs in the next two to three weeks. During an appearance on CNN's "State of the Union," Bessent said the United States will focus on a short list of countries in its initial round of tariffs. "My other sense is that we will do a lot of regional deals," Bessent said. "This is the rate for Central America, this is the rate for this part of Africa, but what we are focused on right now is the 18 important trading relationships." Following a move by Moody's Ratings last week to downgrade the United States' credit rating, Bessent called the service a "lagging indicator" during an appearance on NBC's "Meet the Press." "I think that's what everyone thinks of credit agencies," he said, and asserted that the credit downgrade was in response to Biden fiscal policies. In response to concerns about tariff costs being passed on to consumers, Trump has said large merchants like WalMart, which imports a significant amount of its merchandise from China, should instead absorb the price increases. Bessent said Sunday that WalMart CEO Doug McMillion told him that the retail giant would "eat some of the tariffs" as it had done in previous years. Bessent did not offer a specific date for the tariff imposition. Copyright 2025 UPI News Corporation. All Rights Reserved.
Yahoo
18-05-2025
- Business
- Yahoo
Trump administration eyes regional tariffs as global deal deadline looms
May 18 (UPI) -- The United States may impose regional tariffs rather than issue blanket ones as a deadline approaches for racing a global plan, Treasury Secretary Scott Bessent said Sunday. The Trump administration originally said it would impose 90 deals in 90 days, but has backed down recently, acknowledging the complexities of negotiating trade pacts with dozens of countries on a compressed timeline, despite stepped-up efforts, President Donald Trump said during his recent trip to the Middle East. "But it's not possible to meet the number of people that want to see us," Trump explained. Trump said while in the Middle East that he and Commerce Secretary Scott Lutnick would begin advising some countries on U.S. plans for tariffs in the next two to three weeks. During an appearance on CNN's "State of the Union," Bessent said the United States will focus on a short list of countries in its initial round of tariffs. "My other sense is that we will do a lot of regional deals," Bessent said. "This is the rate for Central America, this is the rate for this part of Africa, but what we are focused on right now is the 18 important trading relationships." Following a move by Moody's Ratings last week to downgrade the United States' credit rating, Bessent called the service a "lagging indicator" during an appearance on NBC's "Meet the Press." "I think that's what everyone thinks of credit agencies," he said, and asserted that the credit downgrade was in response to Biden fiscal policies. In response to concerns about tariff costs being passed on to consumers, Trump has said large merchants like WalMart, which imports a significant amount of its merchandise from China, should instead absorb the price increases. Bessent said Sunday that WalMart CEO Doug McMillion told him that the retail giant would "eat some of the tariffs" as it had done in previous years. Bessent did not offer a specific date for the tariff imposition.
UPI
18-05-2025
- Business
- UPI
Trump administration eyes regional tariffs as global deal deadline looms
Treasury Secretary Scott Bessent, pictured speaking last month during a Congressional hearing, on Sunday called the Moody's downgrading of the United States' credit rating a "lagging indicator." File Photo by Bonnie Cash/UPI | License Photo May 18 (UPI) -- The United States may impose regional tariffs rather than issue blanket ones as a deadline approaches for racing a global plan, Treasury Secretary Scott Bessent said Sunday. The Trump administration originally said it would impose 90 deals in 90 days, but has backed down recently, acknowledging the complexities of negotiating trade pacts with dozens of countries on a compressed timeline, despite stepped-up efforts, President Donald Trump said during his recent trip to the Middle East. "But it's not possible to meet the number of people that want to see us," Trump explained. Trump said while in the Middle East that he and Commerce Secretary Scott Lutnick would begin advising some countries on U.S. plans for tariffs in the next two to three weeks. During an appearance on CNN's "State of the Union," Bessent said the United States will focus on a short list of countries in its initial round of tariffs. "My other sense is that we will do a lot of regional deals," Bessent said. "This is the rate for Central America, this is the rate for this part of Africa, but what we are focused on right now is the 18 important trading relationships." Following a move by Moody's Ratings last week to downgrade the United States' credit rating, Bessent called the service a "lagging indicator" during an appearance on NBC's "Meet the Press." "I think that's what everyone thinks of credit agencies," he said, and asserted that the credit downgrade was in response to Biden fiscal policies. In response to concerns about tariff costs being passed on to consumers, Trump has said large merchants like WalMart, which imports a significant amount of its merchandise from China, should instead absorb the price increases. Bessent said Sunday that WalMart CEO Doug McMillion told him that the retail giant would "eat some of the tariffs" as it had done in previous years. Bessent did not offer a specific date for the tariff imposition.
