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.

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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.”

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Shares of Walmart rose 3.7 percent to $137.48 in Tuesday pre-market trading.

International

ICE to remain at airports amid DHS shutdown, Homan says

The U.S. “border czar,” Tom Homan, said Sunday that agents from U.S. Immigration and Customs Enforcement (ICE) will remain deployed at airports until operations return to “100% normal,” as the shutdown of the Department of Homeland Security (DHS) continues.

“We will maintain ICE presence until airports feel they are fully back to normal operations,” Homan said during an interview on Face the Nation on CBS.

Homan justified the deployment on security grounds, noting that the measure was ordered by President Donald Trumpamid widespread absenteeism among agents of the Transportation Security Administration, who have gone without pay for over six weeks due to the DHS shutdown.

According to acting TSA administrator Ha Nguyen McNeill, at least 460 TSA agents have resigned during the shutdown, while daily absenteeism has averaged 11%, exceeding 50% at some airports.

Homan warned that if TSA staffing levels do not recover after the shutdown, ICE agents will continue filling the gap. “ICE is there to support our TSA brothers and sisters. We will remain as long as needed to ensure airport security,” he said.

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The DHS shutdown reached 44 days on Sunday, making it the longest government shutdown in U.S. history. The impasse stems from disagreements between Democrats and Republicans over ICE funding.

A recent bipartisan Senate proposal to fund DHS without including ICE failed after being blocked by House Republicans, who insist on full funding for the agency.

Amid the deadlock, Trump signed an executive order directing Homeland Security Secretary Markwayne Mullin to immediately pay TSA agents to address what he called an “emergency situation” and restore order at airports, with payments expected to begin Monday.

International

Oil prices surge again as Middle East tensions persist

Oil prices climbed again on Friday for a second consecutive session, as markets remained concerned about a prolonged conflict in the Middle East with no tangible diplomatic progress.

North Sea Brent crude for May delivery rose 4.22% to close at $112.57 per barrel.

Meanwhile, U.S. West Texas Intermediate (WTI) approached the $100 mark, settling at $99.64, up 5.46%.

The decision by U.S. President Donald Trump to delay by ten days his ultimatum for the reopening of the Strait of Hormuz failed to reassure market participants.

“It means there will be ten additional days of disruptions in the Middle East for crude and refined product flows,” said Andy Lipow, of Lipow Oil Associates.

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“For prices to come down, a resolution to the conflict is necessary,” Lipow added. “And even in the event of a ceasefire, it is not certain that Iran would allow oil shipments to pass through the Strait of Hormuz.”

International

Young Spanish Woman Receives Euthanasia After Legal Battle, Sparking Debate

A 25-year-old Spanish woman, Noelia Castillo, received euthanasia on Thursday following a prolonged legal dispute with her father.

She passed away at a care center in Sant Pere de Ribes, about 40 kilometers from Barcelona, where she had been living for some time, according to Spanish media reports.

In an interview broadcast a day earlier on Antena 3, Castillo expressed her exhaustion after enduring prolonged suffering. She indicated that her decision was influenced by a combination of personal circumstances and health-related challenges, including family conflicts and a condition of paraplegia following a previous incident that left her with lasting physical consequences.

Spain legalized euthanasia in 2021, becoming one of the few countries that allow patients under strict conditions to seek medical assistance to end their lives in order to avoid what the law defines as unbearable suffering.

The case has reignited debate in Spain over the ethical, legal, and family dimensions surrounding euthanasia, as well as the broader issue of support for individuals in vulnerable situations.