Business
Top Walmart exec says American manufacturing comeback is real and good for business
John Furner, Walmart U.S. CEO, speaks to CNBC’s Sara Eisen during the Invest in America Forum on Oct. 15, 2025.
Aaron Clamage | CNBC
Manufacturing is seeing renewed attention from corporate America, with Walmart among the major companies publicly reaffirming its commitment to domestic production.
At CNBC’s inaugural Invest in America Forum, Walmart U.S. CEO John Furner said the company is increasing its investments in U.S.-made products and suppliers, describing it as part of a long-standing, strategic priority.
“Investing in U.S. manufacturing and U.S. operations, sure, it’s great for business, but it’s also great for employment. It’s great for jobs. It’s great for the country, and it helps us with our supply chain being flexible and dynamic,” Furner said.
Nearly two-thirds of the products Walmart sells are made, grown or assembled in the United States, according to Furner. Walmart is expanding on that front, including a new beef processing facility in Olathe, Kansas, which he said is expected to create over 600 jobs.
“It’s a big investment, and having quality products that are sourced in a more sustainable way that can deliver to customers is really important,” Furner said.
Furner also pointed to specific categories where domestic production is being revived, citing a recent partnership with USAntibiotics aimed at “bringing back products like amoxicillin so that they’re made here in the United States.”
Still, global sourcing remains essential for Walmart’s operations.
“We source from all around the world,” Furner said. “There are things that are grown around the world that tend to do better in other climates, you know, coffee might be an example … I think there are a lot of possibilities.”
The heightened public focus on U.S. manufacturing comes amid trade policy uncertainty, with tariffs and interest rates remaining central to retailers’ equation of how much inventory to stock and what to set prices at. For his part, Furner was uncertain about the future for the levies.
“As policies change, they’ll change. Environments will change. That happens. Commodities change,” he said. “We’ve landed in a place where we have more rollbacks going into the fall than we had at the beginning of the year, and that’s something we’re proud of.”
Despite uncertain economic headwinds, Furner said Walmart is pushing to lower prices for consumers.
“We want to try to keep prices as low as we can, as long as we can,” he said. “We see a resilient customer that makes really smart choices for what’s right for them and their families at the time of shopping.”
Still from Netflix’s “KPop Demon Hunters.”
Netflix
Netflix is partnering with both Hasbro and Mattel to bring “KPop Demon Hunters” toys to shelves.
The animated film, which debuted on the streaming service in June, has become Netflix’s most popular film of all time, with more than 325 million views worldwide. Its popularity has spurred Netflix to release it twice in theaters — once in August for a two-day weekend event and again next week around Halloween.
Partnering with Mattel and Hasbro will allow Netflix to offer a suite of consumer products based around the film.
Mattel will handle dolls, action figures, accessories and playsets, while Hasbro will focus on plush, electronics, roleplay items and board games, the companies announced Tuesday. There will likely be some overlap in product categories between the two toy makers, however.
Mattel is currently taking pre-orders for a three-pack of dolls featuring Rumi, Mira and Zoey, the members of the fictional KPop trio HUNTR/X. And Hasbro’s first product is a “KPop Demon Hunters” themed Monopoly Deal game.
Merchandise and toys from both companies will be available at retail in spring 2026.
“Netflix, Mattel and Hasbro joining forces on this first-of-its-kind collaboration means fans can finally get their hands on the best dolls, games, and merchandise they’ve been not-so-subtly demanding on every social platform known to humanity,” said Marian Lee, Netflix’s chief marketing officer, said in a statement Tuesday.
The company behind weight-loss jab Wegovy and diabetes drug Ozempic will have a boardroom clear-out, with seven board members including the chairman set to depart.
Novo Nordisk on Tuesday said chairman Helge Lund, vice chair Henrik Poulsen and five directors will not stand for re-election at an extraordinary investor meeting in November.
The departures came about after a disagreement between the board and its majority shareholder over its future governance.
It’s the latest in a raft of changes at the Danish company, which welcomed a new chief executive in August and announced it would lay off 9,000 staff in September.
Last month the firm issued a warning on profits due to increased competition from US rivals, and announced a cost-savings programme as it cut its profit growth forecast for the third time this year.
Widespread adoption of Novo Nordisk’s Ozempic diabetes treatment, which is often used off-label as a weight loss drug, and Wegovy had boosted its share price to the point where in summer 2024 it was Europe’s most-valuable company.
Recent competition from rivals like Eli Lilly has eroded that valuation, and shares in Novo Nordisk dipped another 1.7% on the new of a boardroom shake-up.
The departures come after a disagreement between board members from the pharmaceutical company and its majority shareholder, the non-profit Novo Nordisk Foundation, on the extent of changes needed.
The Novo Nordisk Foundation owns 28.1% of the company’s shares, but holds a three-quarter share of the voting rights, which indicates that it holds a lot of sway with how the company is run and who holds senior roles.
Outgoing chair Mr Lund said that the Novo Nordisk board had proposed bringing in several new board members to add new skills, but the Novo Nordisk Foundation “wanted a more extensive reconfiguration”.
The Foundation successfully pushed for the removal of former chief executive Lars Fruergaard Jorgensen in May.
The current chairman of the Novo Nordisk Foundation, Lars Rebien Sorensen, who served as the pharma’s chief executive from 2000 to 2016, is being put forward to replace current chairman Mr Lund, the foundation said.
Mr Sorensen said the pharmaceutical company had been “too slow in recognising fundamental market changes” as the use of its drugs became mainstream and competitors launched rival treatments.
Last Updated:
These reforms highlight EPFO’s attempt to modernise pension services and make retirement planning more secure, transparent and flexible
EPFO has revised pension calculation based on average salary of last 5 years.
In a move that could significantly impact the retirement savings of millions of salaried employees, the Employees’ Provident Fund Organisation (EPFO) has announced five changes to the Employees’ Pension Scheme (EPS). These revisions are intended to simplify pension access, increase benefits, and improve portability for members across the country.
Pension To Be Calculated On Average Salary
The most crucial change concerns the method of pension calculation. Earlier, the pension was determined based on the employee’s last drawn salary. Under the revised rule, it will now be calculated on the average salary of the last 60 months of employment. This ensures a fair and realistic computation, especially for employees whose salary increased gradually over time. Though this provision has been in effect since September 1, 2014, EPFO has now issued a clear clarification for its implementation.
Pension Ceiling Raised To Rs 15,000 Per Month
In a major relief for pensioners, EPFO has doubled the maximum pension limit from Rs 7,500 to Rs 15,000 per month. This step follows a Supreme Court directive and is expected to benefit retirees whose pensions were earlier capped despite higher contributions and earnings. With this revision, eligible pensioners will receive the actual calculated amount without any upper limitation.
Minimum Pension Age Lowered To 50 Years
Responding to the needs of employees seeking financial assistance earlier than retirement, the minimum age for drawing pension has been reduced from 58 to 50 years. Members can now opt for early pension from the age of 50. However, EPFO has clarified that choosing an early pension may lead to a marginal reduction in the monthly payout. The flexibility could prove useful in cases of health issues, employment loss, or personal emergencies.
Faster Pension Claims Through Digital Platforms
In an effort to cut down processing time and enhance transparency, EPFO has strengthened its digital services. Pension claim forms, supporting documents, and approval processes can now be completed online via the EPFO website or mobile app. What earlier took months is now expected to be resolved within weeks. This shift gained momentum during the pandemic, when digital transactions became essential.
Seamless Pension Portability For Job Changers
To facilitate employees who frequently change jobs, EPFO has simplified pension portability. Under the new system, service periods from previous and current employers will be automatically consolidated while calculating pension benefits. This prevents loss of service years and ensures continuity. The unified portal enables smooth transfer of EPS data, benefiting employees in dynamic sectors like startups, IT, and freelancing.
These reforms highlight EPFO’s attempt to modernise pension services and make retirement planning more secure, transparent and flexible. The changes are applicable to EPS members earning up to Rs 15,000 per month. Those earning higher salaries may explore voluntary pension contributions through the EPFO portal. Members are advised to log in to their accounts regularly to review their pension status and contributions.
October 21, 2025, 20:21 IST
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