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Walmart said Tuesday it has hired 130,828 veterans since it launched its Veterans Welcome Home Commitment in May 2013, including 297 in Hawaii. Of those 130,828 hires, 15,176 have been promoted to jobs with higher pay and greater responsibility, the company said.
On Memorial Day 2013, Walmart introduced the Veterans Welcome Home Commitment, which guaranteed a job offer to any eligible, honorably discharged U.S. veteran who was within 12 months of active duty. The initial goal was to hire 100,000 veterans by the end of 2018. In May 2015, Walmart announced the expansion of that original projection, with the goal of hiring 250,000 veterans by the end of 2020. Walmart also changed the eligibility from within 12 months of active duty to any veteran who has been honorably discharged since the announcement of the commitment in May 2013.
U.S. targets e-commerce giant Alibaba
WASHINGTON >> Chinese e-commerce giant Alibaba wowed investors when it went public in the U.S. in September 2014, and its profits have bucked Wall Street expectations amid the Chinese economy’s slowdown. Yet its unorthodox business structure has raised eyebrows, it’s been suspended from an anti-counterfeiting group, and now U.S. regulators are investigating its accounting practices.
Alibaba disclosed in a regulatory filing that the Securities and Exchange Commission has requested documents and information related to the way it adds together earnings from its various divisions, and how it reports transactions with other companies it has a stake in, among other things.
Most Americans doing better financially
WASHINGTON >> Most American households say their finances have strengthened slightly, but nearly half report they would struggle to meet $400 in expenses from an unexpected emergency, according to the Federal Reserve’s annual survey on economic well-being.
The latest survey found that 69 percent of those responding reported they were either “living comfortably” or “doing OK.”
However, 31 percent, or approximately 76 million adults, said they were either “struggling to get by” or were “just getting by.” And 22 percent of workers were working two or more jobs to make ends meet.
Microsoft cuts more jobs in mobile unit
NEW YORK >> Microsoft said Wednesday it will slash up to 1,850 jobs and take a $950 million hit to its books as it attempts to salvage its rocky entrance into the smartphone market.
The company acquired Nokia’s phone business in 2014, hoping to expand its share of the fast-growing mobile tech industry. But by last summer it had slashed the value of that business severely and eliminated 26,000 jobs.
After the company failed to gain traction with the Nokia venture, CEO Satya Nadella has pursued a different strategy: pushing Microsoft to make its flagship Windows operating system and other popular software programs work on a variety of devices.
Dow up 145.46 points to close at 17,851.51
The Dow Jones industrial average gained 145.46 points, or 0.8 percent, to reach 17,851.51 on Wednesday. The Standard & Poor’s 500 index picked up 14.48 points, or 0.7 percent, to 2,090.54. The Nasdaq composite index rose 33.84 points, or 0.7 percent, to 4,894.89.
Benchmark U.S. crude gained 94 cents, or 1.9 percent, to $49.56 a barrel in New York. Brent crude, used to price international oils, rose $1.13, or 2.3 percent, to $49.74 a barrel in London. In other energy trading, wholesale gasoline fell 1 cent to $1.64 a gallon.
ON THE MOVE
Carolyn Portuondo has been appointed executive pastry chef at the Royal Hawaiian, a Luxury Collection Resort. She joined Starwood as a pastry chef in 2014 and has more than 11 years of patisserie experience, including owning her own retail bakery for more than five years in Las Vegas.
Hilton Hawaiian Village Waikiki Beach Resort has promoted Scott Hamilton to resident manager. He joined the resort as a food and beverage director in 2014. Prior to joining Hilton, Hamilton was vice president of food and beverage at BR Guest Hospitality, a New York-based group with multiconcept restaurants nationwide.
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