Wal-Mart appoints global anti-bribery watchdog

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A general view of a Wal-Mart store in Mexico City, April 24, 2012. Wal-Mart Stores Inc lost $10 billion of its market value on Monday on concerns that a bribery investigation in Mexico could be very costly and hinder its plans to grow. In a sign that the problem was widening for the world's largest retailer, two U.S. lawmakers said they were launching their own investigation into allegations in a New York Times article that Wal-Mart de Mexico had engaged in a multi-year campaign of bribery to build its business. In Mexico, the front-running presidential candidate, Enrique Pena Nieto, and lawmakers also called on local authorities to investigate. The banner reads, ''Low prices, every day, in everything''. REUTERS/Edgard Garrido