Wal-Mart Shares Are Diving After Report About Bribery In Mexico

Photo: Wikimedia

The big corporate story of the weekend: The NYT reported that Wal-Mart’s Mexican subsidiary was involved in illegal bribery in Mexico (thus violating US laws against bribing foreign governments).Making matters worse, the report alleges that an internal investigation was covered up by executives in Bentonville, Arkansas.

Anyway, it promises to be a major legal headache, and could augur C-Suite shakeup, if nothing else.

So this morning shares of Wal-Mart are off 3.2%, compounding all the other bad news we’re getting today.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.