U.S. Morning Call: Walmart bribed officials in Mexico - NYT
Monday, December 17, 2012 - 03:22
Dec 18 - Walmart's Mexican affiliate routinely used bribes to open stores in desirable locations, according to the New York Times.
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Here's your morning offered Tuesday were allegations of bribery against Wal-Mart in Mexico. According to New York Times wall X as -- -- there bribe officials nineteen times to open stores in desirable locations. He alleged payoffs mostly linked to zoning laws and environmental permits that would otherwise prevented Wal-Mart to growth in the country. Although Obama will Wal-Mart spokesman said that looking into the matter. The times first reported bribery charges in Mexico in April and the company lost ten billion dollars of its market value immediately following so watch the stock today. Since then Wal-Mart also opened internal probes on civil allegations in Brazil China and India. And has -- some 100 million dollars related costs. More patents. More problems apple having a rough week so far US judge denied iPhone maker's request for permanent injunction against Samsung's Smartphones. And -- that could have provided apples some leverage in their many patent disputes perhaps slowing Samsung's momentum. We suggested it -- comScore shows and I'm gaining ground on apple in Europe Smartphone market. Shares of apple up slightly in the premarket around 521. Dollars. Following the tragedy in Newtown Connecticut PE groups cerberus capital capital selling gunmaker freedom group. -- Cerberus was pressured by the California State teachers retirement system which has seventy. 751. Million dollar investment with a firm. -- itself is 820 billion dollar PE house that bought several of the top gun manufacturers and merge them into one entity called freedom group. The move follows an op Ed in yesterday's late by former New York governor Eliot Spitzer where he says in no uncertain terms quote. It is time to determine pension fund by pension fund who has invested in cerberus. And bring pressure on those investors either to get out of cerberus or have servers changed the way it runs the gun industry. Facebook's IPO disaster still haunting Morgan Stanley. The lead underwriter for the social networks IPO will pay five million dollar fine to the state of Massachusetts. The penalty settles charges over Morgan Stanley bankers improperly influencing analyst at the time of Facebook's troubled public offering. Since the IPO the stocks lost about 27% of its value but it could be worse. FaceBook shares have rallied since mid November up 17%. From a month ago. Let's turn to markets and take a -- US stock futures pointing to a higher open today. Sources say President Obama made a counter offer to Republicans last night that included a major change in his position on tax cuts for the wealthy. Late today we'll get earnings from oracle which may post a higher profit investors also get a glimpse of the possible impact of the fiscal cliff -- tech spending. Oracle's quarter ended November 30 it's generally seen as a Bellwether for new trends affecting the economy. That's super Tuesday morning cough follow us on Twitter at Reuters Insider. And check out our players need to -- -- at -- dot com slash Reuters TV. I'm Lisa Bernhard this is Reuters.
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