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Simmons to merge subsidiary banks

Pine Bluff-based Simmons First National Corp. announced in a Wednesday filing with the U.S. Securities and Exchange Commission that it intends to consolidate its seven subsidiary banks into a single banking organization.

Third round of layoffs at Acxiom begins

A third, and likely final, wave of layoffs at Little Rock-based Acxiom Corp. began on Wednesday as the database marketer continued its push to realign its work force to meet changing industry demands. Acxiom indicated in November 2013 it would cut its overall labor force by March in an effort to save $20 million to $30 million annually. Approximately 200 workers nationwide were part of the latest round of layoffs with around 100 in Arkansas.

Walmart profits tumble

Revenues grew modestly, but profits took a tumble as Walmart reported its fourth-quarter and full-year financials. The Bentonville-based retail giant reported fourth-quarter net income of $4.43 billion on sales of $128.8 billion, an increase of 1.4 percent over last year. The quarter included the negative impact of about $1.8 billion from currency exchange rate fluctuations. Last year Walmart posted fourth-quarter profits of $5.86 billion on revenue of $127.77 billion.

Simmons First sees earnings boost

Simmons First National Corp. posted double-digit fourth-quarter and full-year earnings as growth in its loan portfolios gave the Pine Bluff-based bank holding company a boost. For the fourth quarter, Simmons First reported net income of $8 million, up 27 percent from one year ago. For the full year, the bank reported net income of $27.7 million, up 11.6 percent.

Week’s Business Roundup — Winter weather decimates parts of Arkansas

A heavy winter weather storm of ice, snow and sleet brought down power lines leaving nearly 200,000 Arkansans without power for days. The storm slammed parts of Arkansas on Christmas day and night. Entergy Arkansas has been working to restore power to many affected areas of the state. Electric Cooperatives of Arkansas customers were also affected by power outages and storm damage. For some customers, power may not be restored until 2013.