Bloomberg Walmart Inc hired an executive who has held senior roles at Google, Microsoft Corp and Amazon.com Inc as its new technology chief, while expanding and elevating the role. Suresh Kumar will join Walmart on July 8 as the retailer’s chief technology officer and chief development officer, reporting to chief executive officer Doug McMillon. He’ll be based out of the …

Bloomberg It’s not often that an entire economy is thrown off course by a single corporate event. But that’s what appears to have happened in Iceland. The recent bankruptcy of budget airline Wow Air has delivered such a blow to the Icelandic tourist industry, and the wider economy, that the central bank cut its main interest rate by half a …

Bloomberg Two months ago, Amazon.com Inc halted orders from thousands of suppliers with no explanation. Panic ensued — until the orders quietly resumed weeks later, with Amazon suggesting the pause was part of a campaign to weed out counterfeit products. Suppliers breathed a sigh of relief. Now a larger, more permanent purge is coming that will upend the relationship between …