Walmart earmarks US$1.3b to expand business in Mexico

Mexico City

RETAILER Wal-Mart de Mexico said on Wednesday it will invest US$1.3 billion in logistics in Latin America's No 2 economy, in what is perceived as a show of commitment to Mexico at a time of uncertainty after the election of Donald Trump.

The investment in Mexico will not result in any jobs being moved from the United States, Walmart spokeswoman Jo Warner told Reuters. "The investment is funded by Walmex and is necessary for…