International
Walmart reports Q2 sales surge, partly due to inflation
AFP
Walmart reported a jump in quarterly revenues Tuesday partly driven by inflation as the retail giant signaled it expects its US sales growth to moderate over the next six months.
The big-box retailer, which had cut its profit forecast three weeks ago due to shifting consumer behavior, said pricing pressures on consumers boosted sales of groceries, while denting demand for other items such as apparel, electronics and home products.
Revenues for its second fiscal quarter ending July 31 were $152.9 billion, up 8.4 percent from the year-ago period.
Profits rose 20.4 percent to $5.1 billion, with some of the increase connected to the accounting for an asset sale in Brazil.
Walmart’s US comparable store sales rose 6.5 percent from one year ago, but the company expects about three percent growth in the second half of 2022.
Higher gasoline prices, along with elevated prices for grocery-item staples have been prompting more consumers to “trade down” to lower-priced goods.
On the positive side, gas prices have gradually fallen during the summer, mitigating this effect somewhat.
“We’re pleased to see more customers choosing Walmart during this inflationary period, and we’re working hard to support them as they prioritize their spending,” Walmart Chief Executive Doug McMillon said in a news release.
McMillon said the company made “good progress” to manage supply chain costs “and that work is ongoing.”
Shares of Walmart rose 3.7 percent to $137.48 in Tuesday pre-market trading.
International
U.S.-Colombia Tensions Escalate as Trump Ends Subsidies, Criticizes Petro
U.S. President Donald Trump on Sunday accused his Colombian counterpart, Gustavo Petro, of tolerating drug production and announced that the United States will end “large-scale payments and subsidies” to the South American nation.
The relationship between the two historically allied countries has reached a low point with the arrival of Trump in office and Petro, Colombia’s first leftist president in history, assuming power.
“As of today, these payments, or any other form of payment or subsidies, will no longer be made,” Trump wrote on Truth Social, adding that Petro is “strongly encouraging mass drug production.”
In response, Petro took to X (formerly Twitter), claiming that the U.S. president is “misled” by his advisors. He added, “I recommend Trump carefully read about Colombia and distinguish where the drug traffickers are and where the Democrats are.”
Last month, Washington revoked Colombia’s status as a key ally in the fight against narcotrafficking, a certification that had previously enabled the country to receive hundreds of millions of dollars in U.S. aid.
International
María Corina Machado: “Venezuela is closer than ever to regaining freedom”
Venezuelan opposition leader and 2025 Nobel Peace Prize laureate María Corina Machado declared on Friday that Venezuela is facing “the most decisive moment in its contemporary history” and that the country is “closer than ever to regaining freedom and democracy.”
Her remarks were delivered via video message during the 81st General Assembly of the Inter American Press Association (IAPA), held in Punta Cana, Dominican Republic.
Machado emphasized that the situation in Venezuela remains “extremely serious” due to censorship and repression imposed by Nicolás Maduro’s regime, particularly in a global context where “society is built on information.”
She warned that authoritarian governments manipulate public opinion through “psychological warfare” and disinformation, while shutting down media outlets and persecuting journalists.
“The only way to topple these regimes is through the constant, relentless, and unrestricted preaching of the truth. It is absolutely true that the truth will set us free,” she stated.
International
Millions to join “No Kings” march in U.S. amid Trump’s growing authoritarian backlash
Millions of Americans are set to take to the streets this Saturday in more than 2,500 cities across the United States for the second edition of the “No Kings” march, a massive protest organized by progressive groups and activists against what they describe as the authoritarian direction of President Donald Trump’s second administration.
The demonstration, expected to be the largest since Trump’s return to power, comes amid a federal government shutdown, further heightening political tensions in Washington.
From the White House, press secretary Abigail Jackson dismissed the event with a brief “Who cares?”, while senior Republican leaders labeled the march as an act of “hate against America.”
House Speaker Mike Johnson accused Democrats of blocking negotiations to reopen the government and claimed they were “unable to stand up to their raging base.” He also linked the protests to “supporters of Hamas and the Antifa terrorist group.”
President Donald Trump, in an interview with Fox News, blamed Senate Democratic leader Chuck Schumer for the legislative deadlock.
“He’s got nothing else left to do. Everyone’s hitting him hard,” Trump said.
The organizers — a coalition of Democratic leaders and more than 200 civil society and labor groups — argue that the Republican refusal to reopen the government is a clear symptom of the authoritarianism they seek to denounce.
The main rally will take place in Washington, D.C., which has been under heightened National Guard surveillance for weeks, officially to control rising crime. However, organizers contend the deployment is aimed at intimidating and silencing dissent.
Protesters have been urged to wear yellow, a reference to the 2019 pro-democracy movement in Hong Kong.
“With this color, we align ourselves with a historical context and remind the world that power must come from the people, not from crowns,” organizers stated on their website.
In addition to the capital, large marches are scheduled in New York, San Francisco, Boston, Atlanta, Chicago, Kansas City, and Honolulu, as well as abroad in London, Paris, Frankfurt, and several Spanish cities — Madrid (Puerta del Sol), Barcelona (Plaça Sant Jaume), Seville (Plaza Nueva), and Málaga (Plaza de la Marina).
During the first edition, held in June, the movement gathered around five million people, a figure organizers expect to surpass this weekend.
U.S.-Colombia Tensions Escalate as Trump Ends Subsidies, Criticizes Petro
María Corina Machado: “Venezuela is closer than ever to regaining freedom”
Millions to join “No Kings” march in U.S. amid Trump’s growing authoritarian backlash
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