US wholesale stockpiles increased 0.3% during September, according to a new Commerce Department report. However, the rise was lower than seen in August (0.6%), which could indicate businesses are cautious about restocking shelves due to weak demand.
Major retailer Walmart, however, wants managers to do a better job of maintaining and stocking shelves, specifically in the grocery department. Walmart hopes improving performance of “chilled and fresh” products in dairy, produce and meat sections, will boost grocery sales.
Toyota announced it is recalling 361,800 cars around the globe due to numerous defects including a faulty ball joint in some Camrys that could cause a driver to lose control of the vehicle.
Bain Capital LLC and Apax Partners offered a joint bid to purchase PT Portugal from its current owner Oi SA.