A report over the weekend showed that Wal-Mart, the world’s largest retail chain, allegedly bribed officials in Mexico, allowing it to gain market dominance. Top executives and officials may have hid its internal probe, which fizzled out as profits contributed by its Mexican market soared. If the charges prove true, it means the company violated the US’ Foreign Corrupt Practices Act and that the problems may go all the way to the top. Wal-Mart’s stock fell 4.7 percent in Monday trading.
Read the corruption story on the New York Times and its maket fallout on Bloomberg