Business
Walmart expands grocery discount for 1.6 million employees as tariffs renew inflation concerns
Groceries are seen at a Walmart supermarket in Houston, Texas, on May 15, 2025.
Ronaldo Schemidt | AFP | Getty Images
As tariffs spark worries of higher prices, Walmart is dangling more discounts for its own employees.
The largest private U.S. employer said Wednesday that it will offer a 10% employee discount on nearly all groceries, including milk, meat and frozen food. That discount previously applied to fresh produce and most general merchandise items, such as clothing and toys, but only to other food during the holiday season.
In a memo to employees obtained by CNBC, Walmart’s chief people officer, Donna Morris, said the expanded price cut takes effect immediately. Walmart’s approximately 1.6 million U.S. employees qualify for the discount after their first 90 days with the company. With the expansion, the reduction will now include 95% of regularly priced items across the store, she said.
“We’ve heard your feedback that these savings make a real difference for you and your families,” she wrote in the memo. “And we have continued to hear that you would like to see this benefit expanded. In fact, it’s one of our most requested benefits.”
Walmart’s announcement comes as economists and companies closely watch how rising tariffs trickle through the U.S. economy and shape consumer spending. The consumer price index, a closely watched inflation metric from the Bureau of Labor Statistics, came in better than feared on Tuesday, with food prices flat. Yet the data still pointed to higher prices on some items. For example, household furnishings and supplies rose 0.7% month over month after climbing 1% in June.
Walmart itself has warned that higher prices are coming. In May, the company’s CFO, John David Rainey, told CNBC that the discounter was “wired for everyday low prices, but the magnitude of these increases is more than any retailer can absorb.”
The expanded employee discount could boost Walmart’s own business, too. It could motivate its huge workforce to spend more of their money at its stores and website rather than at other grocers or retailers. And the perk could also help attract and retain workers.
Walmart announced the expanded discount at its holiday meeting in Houston, which all store managers attended.
According to a video obtained by CNBC, Walmart U.S. CEO John Furner brought a Walmart store manager to the stage to read the surprise announcement that its 10% discount on food would become year-round.
“All I can think is about my associates back at home,” the store manager told Furner, as he thanked him. He said employees at his store “don’t know how they’re going to be paying their next meal and now this is going to help them.”
Walmart is scheduled to report its latest earnings on Aug. 21. The retailer’s expanded discount was first reported by The Wall Street Journal.
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Business
Gross GST collections for November stand at over Rs 1.70 lakh crore; up 0.7 per cent – The Times of India
GST collections: The Gross Goods and Services Tax (GST) collections for the month of November came in at over Rs 1.70 lakh crore. This is a rise of 0.7%, according to official data.SBI Research in a report in November had estimated that the gross domestic GST collections may come around Rs 1.49 lakh crore for November 25 (returns of October 25 but filed in Nov’25), a YoY growth of 6.8%.“Coupled with Rs 51,000 crore of IGST and cess on Import, the November GST collections thus could cross Rs 2.0 lakh crore, driven by the peak festive season demand led by lower GST rate and increased compliance while most of states experience positive gains,” SBI Research had said.This story is being updated
New Delhi: Several crucial deadlines have been extended in December 2025, including ITR for tax audit cases, ITR filing and PAN and Aadhaar linking. These deadlines will be crucial in ensuring that your financial affairs operate smoothly in the months ahead.
Here is a quick rundown of the important deadlines for December to help you stay compliant and avoid last-minute hassles.
ITR deadline for tax audit cases
The Central Board of Direct Taxes has extended the due date of furnishing of return of income under sub-Section (1) of Section 139 of the Act for the Assessment Year 2025-26 which is October 31, 2025 in the case of assessees referred in clause (a) of Explanation 2 to sub-Section (1) of Section 139 of the Act, to December 10, 2025.
Belated ITR filing deadline
A belated ITR filing happens when an ITR is submitted after the original due date which is permitted by Section 139(4) of the Income Tax Act. Filing a belated return helps you meet your tax obligations, but it involves penalties. You can only file a belated return for FY 2024–25 until December 31, 2025. However, there will be a late fee and interest charged.
PAN and Aadhaar linking deadline
The Income Tax Department has extended the deadline to link their PAN with Aadhaar card to December 31, 2025 for anyone who acquired their PAN using an Aadhaar enrolment ID before October 1, 2024. If you miss this deadline your PAN will become inoperative which will have an impact on your banking transactions, income tax return filing and other financial investments.
Business
Stock Market Live Updates: Sensex, Nifty Hit Record Highs; Bank Nifty Climbs 60,000 For The First Time
Stock Market News Live Updates: Indian equity benchmarks opened with a strong gap-up on Monday, December 1, touching fresh record highs, buoyed by a sharp acceleration in Q2FY26 GDP growth to a six-quarter peak of 8.2%. Positive cues from Asian markets further lifted investor sentiment.
The BSE Sensex was trading at 85,994, up 288 points or 0.34%, after touching an all-time high of 86,159 in early deals. The Nifty 50 stood at 26,290, higher by 87 points or 0.33%, after scaling a record intraday high of 26,325.8.
Broader markets also saw gains, with the Midcap index rising 0.27% and the Smallcap index advancing 0.52%.
On the sectoral front, the Nifty Bank hit a historic milestone by crossing the 60,000 mark for the first time, gaining 0.4% to touch a fresh peak of 60,114.05.
Meanwhile, the Metal and PSU Bank indices climbed 0.8% each in early trade.
Global cues
Asia-Pacific markets were mostly lower on Monday as traders assessed fresh Chinese manufacturing data and increasingly priced in the likelihood of a US Federal Reserve rate cut later this month.
According to the CME FedWatch Tool, markets are now assigning an 87.4 per cent probability to a rate cut at the Fed’s December 10 meeting.
China’s factory activity unexpectedly slipped back into contraction in November, with the RatingDog China General Manufacturing PMI by S&P Global easing to 49.9, below expectations of 50.5, as weak domestic demand persisted.
Japan’s Nikkei 225 slipped 1.6 per cent, while the broader Topix declined 0.86 per cent. In South Korea, the Kospi dropped 0.30 per cent and Australia’s S&P/ASX 200 was down 0.31 per cent.
US stock futures were steady in early Asian trade after a positive week on Wall Street. On Friday, in a shortened post-Thanksgiving session, the Nasdaq Composite climbed 0.65 per cent to 23,365.69, its fifth consecutive day of gains.
The S&P 500 rose 0.54 per cent to 6,849.09, while the Dow Jones Industrial Average added 289.30 points, or 0.61 per cent, to close at 47,716.42.
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Gross GST collections for November stand at over Rs 1.70 lakh crore; up 0.7 per cent – The Times of India
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