Wal-Mart to Issue Bangladesh Update, Verizon and Vodafone Continue Talks, and 2 More Hot Stocks
Wal-Mart Stores Inc. (NYSE:WMT): Wal-Mart said it will be updating shareholders Thursday regarding its sourcing practices in Bangladesh, which came into focus after a textile factory collapsed and killed scores of workers. A Wal-Mart executive said the briefing will include details on a plan to improve workers’ safety, among other items.
Verizon Wireless (NYSE:VZ): Vodafone (NASDAQ:VOD) reported that it is indeed in discussions with Verizon over the sale of the U.K. carrier’s 45 percent stake in Verizon Wireless to the U.S. company, though it warned, “there is no certainty that an agreement will be reached.” The deal, should one materialize, is expected to run in the $130 billion range. Bloomberg reports the sides are in advanced talks.
JPMorgan Chase (NYSE:JPM): Bloomberg is reporting that the investigation into JPMorgan’s hiring practices in China and Hong Kong has supposedly uncovered an internal spreadsheet that linked recruitment to specific deals the bank was trying to obtain. The bank is accused of hiring the children of influential individuals to encourage business. The U.S. Securities and Exchange Commission, which launched the investigation, has now been joined by the Department of Justice, and the probe has been widened to include other parts of Asia and Europe.
US Airways Group (NYSE:LCC): The Department of Justice, AMR Corp. (AAMRQ.PK) and US Airways are reportedly willing to negotiate a settlement in which the DoJ would withdraw its efforts to block the companies from merging, though the government agency said it still wants the airlines to address its antitrust concerns. The SEC said it hasn’t yet received any proposals, though a Reuters source said the carriers had offered concessions.