Reuters ahead of rivals with Wal-Mart’s new buyback program

Reuters was 10 seconds ahead of Bloomberg and a minute and a half ahead of Dow Jones in reporting that Wal-Mart, the world’s largest retailer, had approved a new $15 billion stock buyback program. The retailer made the announcement on June 5 at its annual meeting in Arkansas, where it was trying to convince Wall Street that the market share gains it has made amid the recession are sustainable. News of the buyback gave a boost to Wal-Mart’s shares, which gained more than 2 percent initially.