Walmart to hire 10,000 new workers, GM planning to invest $1B in US, Moody’s will settle with DOJ
January 17, 2017
Giant retailer Walmart announced on Tuesday that it plans to hire 10,000 new workers in the U.S. in soon-to-be-opened stores. In addition, the retailer will also expand existing stores and its e-commerce site. The construction of new stores and the remodeling of existing stores will also produce 24,000 new construction jobs. The news comes in a time when president-elect Trump emphasizes commitments to bolster U.S. jobs for many companies who may have been looking for cheaper locales outside of the U.S.
General Motors is planning to invest $1 billion in the U.S. after some pressure from president-elect Trump’s criticism of the automaker’s Mexican car production. GM said it will bring back 7,000 jobs to the U.S. in the form of IT positions and new manufacturing jobs. A spokesperson from GM said that the plans had been in the works for some time and felt no pressure from Mr. Trump in the president-elect’s quest to bring jobs back to the U.S.
Credit ratings agency Moody’s said it will settle with the Department of Justice (DOJ) to the sum of $864 million in its role in providing shaky credit ratings for Residential Mortgage Backed Securities and Collateralized Debt Obligations. The settlement will resolve litigation in pending state courts of Connecticut, Mississippi and South Carolina as well as potential claims by the DOJ, 18 states and the District of Columbia.