Business Briefs: Wells Fargo, Walmart, YouTubePosted: Updated:
There is more trouble for Wells Fargo. According to the Wall Street Journal, employees improperly altered information on documents relating to corporate clients in an attempt to comply with anti-money laundering regulations. This took place between late 2017 and early 2018. The incident raises questions about the bank’s practices. A Wells Fargo spokesperson said these actions did not negatively impact customers.
Walmart beat Wall Street expectations in its quarterly earnings report. The retailer saw a 33 percent spike in online sales. Walmart credits the growth to online grocery shopping and a website redesign. Walmart also saw sales growth in its Sam's Club stores, driven by fresh food.
YouTube is entering the music-streaming space. YouTube Music will launch on May 22 and cost users about $10 for ad-free listening. The company is revamping its app in preparation for the launch. Current Google Play members will be moved over to the YouTube service. YouTube Music is an answer to Spotify and Apple Music.