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Cautious Walmart outlook hits shares despite solid Q4 profits
Cautious Walmart outlook hits shares despite solid Q4 profits
Business and Economy
by  AFP

Walmart reported better-than-expected profits over the critical holiday-season quarter Tuesday, but offered a disappointing outlook as inflation weighs on consumers. Chief Executive Doug McMillon said the chain expects "stubborn inflation" in food as executives acknowledged that grinding price pressures were hitting some consumers, denting the outlook.

Tanzania approves controversial $3.5 billion oil pipeline
Tanzania approves controversial $3.5 billion oil pipeline
Business and Economy
by  AFP

Tanzania's government gave its approval on Tuesday for the construction of a $3.5 billion crude oil pipeline despite human rights and environmental concerns about the mega-project. The pipeline required approval from both countries, and last month Uganda issued a licence to the project operator, the East African Crude Oil Pipeline (EACOP).