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The Federal Trade Commission sued PepsiCo on Friday, alleging that it has engaged in illegal price discrimination by giving unfair price advantages to one big-box retailer at the expense of other vendors and consumers. The benefiting customer wasn't named in an FTC statement about the lawsuit. But a source familiar with the case, who asked not to be named because they were not authorised to it, said the retailer was Walmart. PepsiCo said the lawsuit is wrong on the facts and the law and misunderstands the way consumer product companies help retailers provide lower prices. PepsiCo strongly disputes the FTC's allegations, and the partisan manner in which the suit was filed. We will vigorously present our case in court, the company said in a statement. The FTC said PepsiCo's practices included making promotional payments to Walmart but not to large grocery chains or independent convenience stores. The FTC said that allows Walmart to lower its prices, but forces Americans to pay inflat
Walmart's sweeping rollback of its diversity policies is the strongest indication yet of a profound shift taking hold at US companies that are re-evaluating the legal and political risks associated with bold programmes to bolster historically under-represented groups. The changes announced by the world's biggest retailer on Monday followed a string of legal victories by conservative groups that have filed an onslaught of lawsuits challenging corporate and federal programmes aimed at elevating minority and women-owned businesses and employees. The retreat from such programmes crystalised with the election of former President Donald Trump, whose administration is certain to make dismantling diversity, equity and inclusion (DEI) programmes a priority. Trump's incoming deputy chief of policy will be his former adviser Stephen Miller, who leads a group called America First Legal that has aggressively challenged corporate DEI policies. There has been a lot of reassessment of risk looking
US-based retail giant Walmart on Tuesday said its international sales in the third quarter got a boost from the 'Big Billion Days' sales event by its Indian e-commerce arm Flipkart. Walmart, which follows a February-January financial calendar, reported USD 31.5 billion in sales from its international business, a growth of 12.4 per cent on constant currency terms. "Timing of Flipkart's The Big Billion Days (BBD) event benefited growth in Q3 and will impact growth in Q4," Walmart said in its earnings statement. Sales growth of Walmart International, which operates in 18 countries outside the US including India, was "led by Flipkart, Walmex (Mexico), and China", it added. In the third quarter, Walmart International's e-commerce sales grew 43 per cent led by marketplace and store-fulfilled pickup and delivery, it added. Moreover, "advertising business (Walmart International) grew 50 per cent, led by Flipkart," it added. Flipkart's Big Billion Days sales event for the 2024 festive sea