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Workers preparping a new Walmart store for inauguration in the city of Recife, Brazil, on Dec, 6, 2017. Photo: Diego Herculano/NurPhoto via Getty Images

Walmart is writing a check for $282 million to settle an investigation into its questionable business practices overseas, including bribing Brazilian and Mexican officials for permits, reports AP.

Why it matters: The civil and criminal allegations have negatively impacted Walmart's reputation as the company had to deal with investor lawsuits, and spend millions on compliance, says the New York Times. The U.S. Securities and Exchange Commission and Department of Justice have indicated this has been one of the largest investigations under the Foreign Corrupt Practices Act, which prevents American companies from bribing foreign officials, according to the Times.

Details:

  • This legal battle has collectively cost the corporate giant $900 million, and the investigation started in 2012, per AP.
  • Walmart will be paying $138 million to avoid prosecution in the U.S., and its Brazilian subsidiary has plead guilty to violating the Foreign Corrupt Practices Act.
  • The SEC declared a $144 million settlement against Walmart also on Thursday for “failing to operate a sufficient anti-corruption compliance program” in Brazil, China, India and Mexico, according to AP.

Go deeper

1 hour ago - Health

Pfizer coronavirus vaccine safe, effective in children, company says

Photo by Mario Tama/Getty Images

Pfizer and BioNTech's coronavirus vaccine is safe and effective in children ages 5 to 11, albeit at a lower dose than adults receive, the companies said in a press release announcing results from a pediatric trial.

Why it matters: The trial results are a much-needed source of hope for families with elementary school-aged children, who currently aren't eligible for a vaccine.

The pandemic made our workweeks longer

Illustration: Annelise Capossela/Axios

The average American's workweek has gotten 10% longer during the pandemic, according to a new Microsoft study published in Nature Human Behaviour.

Why it matters: These longer hours are a key part of the pandemic-induced crisis of burnout at U.S. firms — and workers are quitting in droves.

Mike Allen, author of AM
2 hours ago - Economy & Business

Airbnb CEO Brian Chesky to herald "travel revolution"

Expand chart
Data: TSA. Chart: Jared Whalen/Axios

Airbnb CEO Brian Chesky will argue this week that the world is undergoing a "travel revolution," in which some parts of the industry stay shrunk but the sector ultimately comes back "bigger than ever."

Why it matters: Chesky, who faced the abyss when the world shut down last year, foresees a significant shift in how people move around, with more intentional gatherings of family, friends and colleagues — even if routine business travel is never what it once was.