Wal-Mart Investigates Overseas Corruption

Wal-Mart is investigating potential corruption in its overseas practices, the company said. In a quarterly report filed with the Securities and Exchange Commission, Wal-Mart said it began an internal investigation “into whether certain matters, including permitting, licensing and inspections, were in compliance with the U.S. Foreign Corrupt Practices Act,” and that it had already taken unspecified remedial measures in relation to the investigation. The Foreign Corrupt Practices Act prohibits bribery and enforces accounting standards for U.S. companies doing international business.