The end of Ben S. Bernanke’s term as Federal Reserve chairman in January 2014 hasn’t stopped investors from betting the central bank will hold the benchmark interest rate close to zero into the following year.
Wal-Mart Stores Inc., the world’s largest retailer, said Brian Cornell would step down as president and chief executive officer of its Sam’s Club membership warehouse unit and be replaced by Rosalind Brewer.
PepsiCo Inc., set to announce a turnaround plan next week, is trying to recruit former Wal-Mart Stores Inc. executive Brian Cornell for a key job with the soda and snacks company, according to two people familiar with the discussions.
Wal-Mart Stores Inc., the world’s largest retailer, reported fourth-quarter profit that trailed analysts’ estimates as an emphasis on low prices hurt margins. The shares tumbled the most in six months.