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Business & Economy
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Business & Economy
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Walmart rolls back DEI policies under pressure
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Walmart will roll back diversity, equity and inclusion (DEI) policies nationwide after a conservative pressure campaign.
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“We’ve been on a journey and know we aren’t perfect, but every decision comes from a place of wanting to foster a sense of belonging, to open doors to opportunities for all our associates, customers and suppliers and to be a Walmart for everyone,” Walmart told The Hill in a statement.
The changes come after a pressure campaign led by conservative activist Robby Starbuck.
“Last week I told execs at @Walmart that I was doing a story on wokeness there. Instead we had productive conversations to find solutions,” Starbuck said.
Walmart Inc. sourced more than $13.1 billion in goods and services from diverse suppliers in 2020, it said, after protests broke out across the country following the death of George Floyd, who was murdered by a police officer.
“We’ve now changed policy at companies worth over $2 Trillion dollars, with many millions of employees who have better workplace environments as a result,” Starbuck continued in his post.
“I’m happy to have secured these changes before Christmas when shoppers have very few large retail brands they can spend money with who aren’t pushing woke policies,” he wrote.
The company’s CEO Doug McMillon said the corporation would focus on supporting small businesses.
“Every year we really focus on made in the USA, about two thirds of what we sell is either made, grown or assembled right here in the United States,” he said during an appearance on “CBS Mornings.”
The Hill’s Ashleigh Fields has more here.
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Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley and Taylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.
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Did someone forward you this newsletter? Subscribe here.
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Key business and economic news with implications this week and beyond:
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Trudeau says he had ‘good call’ with Trump amid tariff threats
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Canadian Prime Minister Justin Trudeau said Tuesday he had a “good call” with President-elect Trump following the incoming U.S. leader’s pronouncement that he would impose a 25 percent tariff on Canadian goods when he takes office.
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Senate Democrat on Trump tariff threats: ‘I think he’s heading toward a real horror show’
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Sen. Richard Blumenthal (D-Conn.) criticized President-elect Trump’s tariff threats in an interview Tuesday, after Trump said he would impose a steep import tax on Mexico, Canada and China on the first day of his new administration.
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Biden administration preliminarily OKs $6.6B loan to EV maker Rivian
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The Biden administration has preliminarily said it would give a $6.6 billion loan to electric vehicle (EV) maker Rivian for a plant in Georgia.
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Biden administration finalizes nearly $8B in CHIPS funding for Intel
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Intel will receive about $7.86 billion in funding from the CHIPS and Science Act to build new semiconductor manufacturing facilities across four states under its finalized agreement with the Biden administration.
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Want a recap of the day’s biggest news? Sign up for The Hill’s Evening Report — breaking down the most important stories of the day and looking ahead to tomorrow. Click here to sign up
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Upcoming news themes and events we’re watching:
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- The October personal consumption expenditure (PCE) index, an inflation gauge favored by the Federal Reserve, comes out Wednesday at 8:30 a.m. ET.
- Business & Economy will be taking a break on Thursday, Nov. 28 and Friday, Nov. 29, but we’ll be back in your inbox on Monday, Dec. 2!
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Branch out with more stories from the day:
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Stock market today: Wall Street rises toward records despite tariff talk
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NEW YORK (AP) — U.S. stocks are rising toward records Tuesday after Donald Trump’slatest talk about …
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Business and economic news we’ve flagged from other outlets:
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- Why are planes so jammed? Airlines want it that way so they can charge more (CNN)
- Automaker shares fall as Trump threatens 25% tariff on Mexico and Canada (CNBC)
- Can Wall Street Billionaires Deliver on Trump’s Blue-Collar Promise? (The New York Times)
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Top stories on The Hill right now:
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Homan says he is willing to put Denver mayor ‘in jail’ over deportation position
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Tom Homan, President-elect Trump’s pick for “border czar,” said he is willing to put Denver Mayor Mike Johnston (D) in jail over his vow to protect migrants in the city after Trump promised a mass of deportations — particularly in sanctuary cities — when he returns to the White … Read more
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Schiff on Smith decision to dismiss Trump cases: ‘A serious mistake’
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Sen.-elect Adam Schiff (D-Calif.) called special counsel Jack Smith’s decision to dismiss President-elect Trump’s election subversion and classified documents cases a “serious mistake.” Read more
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Opinions related to business and economic issues submitted to The Hill:
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- Elon and Vivek: Please listen before cutting government
- The voters have spoken — all SEC Democrats should resign
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You’re all caught up. See you tomorrow!
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