Walmex to invest $6 bln in Mexico in 2025
Speaking virtually at the Mexican president's daily press conference, Walmex Chief Executive Office Ignacio Caride said the investment would create 5,500 direct jobs.
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The National
an hour ago
- The National
Elon Musk 'ordered Starlink shutdown' during Ukraine counterattack
The billionaire's command allegedly led to a communications blackout while Ukrainian forces attempted to retake the port city of Kherson in the south of the country in September 2022. The communication blackout, where staff at the American tech firm deactivated at least 100 Starlink terminals after being instructed to, reportedly caused the attack to fail, according to Reuters, which spoke with three people who were familiar with the demand. According to reports, the blackout caused Ukrainian soldiers to panic as drones surveilling Russian forces went dark, and long-range artillery units, reliant on Starlink to aim at their targets, struggled to hit them. READ MORE: 'He belongs in The Hague': Keir Starmer fiercely criticised over Gaza speech Although Ukrainian forces were able to reclaim Kherson, the incident was reported to have damaged the country's trust in the technology, along with shocking Starlink employees. One of the three people who were familiar with the instruction claimed it enabled Musk to take 'the outcome of a war into his own hands'. The Tesla-owner reportedly grew concerned that Ukrainian forces' advancements could provoke nuclear retaliation from Vladimir Putin. A spokesperson for SpaceX, the aerospace company that owns Starlink, told Reuters the reporting of the incident is 'inaccurate'. In March, Musk posted on his social media platform, X/Twitter: 'To be extremely clear, no matter how much I disagree with the Ukraine policy, Starlink will never turn off its terminals.' Starlink, which went live in 2019, is a satellite company that beams data across its network and is the world's largest satellite operator. It provides customers with internet access in remote and unreliable locations and has a network of around 8000 satellites in orbit. It has been a key tool in Ukraine's defence, as Musk has provided the country with more than 50,000 Starlink terminals during the war. The network has allowed Ukrainians to speak to relatives across the world, and President Zelensky uses the network to transmit broadcasts to the nation. It is also used by Ukrainian forces on the battlefield to communicate and is used to guide drones and long-range artillery units.
Daily Mail
3 hours ago
- Daily Mail
Sears shuts California stores after revival efforts fall short
Sears' once-mighty empire is set to shrink even further as it shuts another store in California. The closure of the Burbank store in Los Angeles on August 31 will leave just six Sears stores in the US, down from more than 3,500 two decades ago. The Burbank store has struggled with low shopper numbers since opening in 2023. Soon after it opened, visitors branded it the 'saddest thing I've ever seen' with empty shelves and stained carpet. News of the closure comes as liquidation sales continue at another nearby Sears in Whittier, a city about 20 miles south-east of LA. It will close Saturday after nearly three decades. Business began crumbling in 2010, and by 2017, Searshad only only 695 locations. The vast majority have now shuttered since the company filed for bankruptcy in October 2018. Sears was on the brink of closing all its stores for good before CEO Eddie Lampert (pictured) submitted a last-minute bid valued at $4.4 billion in 2018. He upped the bid to $5.2 billion and saved 400 stores. Over the past year, Sears closed its last Washington store, shuttered its only remaining New York location. 'It's a landmark, it's something you grew up with, it's something you could trust,' Barbie Talamante, a former Sears staffer, said of the closure in Tukwila, a city ten miles south of Seattle, WA. Discount stores and big box retailers like Walmart have siphoned off Sears' customers over the last several years. Sears is not the only retailer in danger of closing for good after years of declining customers and sales. JCPenney has also been under fires. In 2020, it closed 30 percent of its stores after filing for bankruptcy. The chain had been operating 846 stores before the pandemic caused severe financial damage. It shuttered seven stores in May, and will lay off hundreds of staffers by closing a warehouse in Texas.
Reuters
3 hours ago
- Reuters
KKR in talks to buy ST Telemedia Global Data Centres, Bloomberg News reports
July 26 (Reuters) - KKR (KKR.N), opens new tab is in talks to buy ST Telemedia Global Data Centres in a deal that could value the Asian digital infrastructure provider at more than $5 billion, Bloomberg News reported on Saturday, citing people familiar with the matter. Reuters could not immediately verify the report.
