Good morning, CFOs. Walmart plans to eliminate 30 other ingredients; Deloitte books $70.5 billion in global revenue; and Microsoft’s CEO relinquishes some duties.

Walmart is taking the biggest step yet to overhaul ingredients used in America’s food supply.

The country’s largest grocer said Wednesday that it was working to remove synthetic dyes from all its store-brand foods, including Great Value, Marketside, Freshness Guaranteed and Bettergoods. Walmart also plans to eliminate 30 other ingredients, ranging from certain artificial sweeteners to preservatives.

Many big food companies are working to shift away from artificial ingredients in packaged goods, as the Trump administration and its “Make America Healthy Again” movement take aim at processed food.

Walmart’s heft makes its plans likely to trigger further changes throughout the nation’s food-supply chain, from ingredient suppliers to other food makers and retailers. Great Value alone is one of the largest consumer brands in the country, with billions of dollars in sales each year.

Walmart plans to tweak more than 1,000 products across its stores gradually, in part to give ingredient suppliers time to meet its volume and cost needs, said Scott Morris, senior vice president for food and consumable private brands at Walmart U.S. Supplies of natural ingredients are still constrained, but growing.

Deloitte reported a nearly 5% increase in global revenue to $70.5 billion for the latest fiscal year, up from a 3.5% rise the previous year.

Growth in the Big Four accounting firm’s Americas business drove the increase for the year ended in May, the firm said. Americas revenue climbed 7.1%, and revenue in the Asia Pacific was up 4.9%. In the U.K., revenue dropped 1% to $7.66 billion for the year.

Deloitte and other large accounting firms have faced weaker demand for certain advisory services in recent years. Nevertheless, revenue from Deloitte’s strategy, risk and transactions business went up 5.5%. Revenue was up 4.7% in technology and transformation services.

The business gains come as Deloitte invests more than $3 billion in generative artificial intelligence, which it’s expected to use through May 2030.

Ernst & Young, PricewaterhouseCoopers and KPMG haven’t yet reported their revenue for the year.

—Mark Maurer

Microsoft Chief Executive Satya Nadella is handing off some responsibilities, citing a need to focus on the company’s biggest artificial-intelligence bets.

Nadella said in a note to employees on Wednesday that Judson Althoff has been promoted to helm the company’s commercial business, essentially overseeing a large swath of the technology giant’s operations.

Althoff will also lead the company’s new commercial leadership team and oversee marketing, with Chief Marketing Officer Takeshi Numoto and his team reporting directly to Althoff.

• General Mills is closing three manufacturing plants in Missouri as part of a multi-year initiative to boost the competitiveness of the packaged-food giant’s supply chain.
• The U.S. shed 32,000 private-sector jobs in September, payroll-processing giant ADP said on Wednesday. That is down from a revised loss of 3,000 in August.
• The Supreme Court on Wednesday allowed Federal Reserve Governor Lisa Cook to keep her job for now and scheduled arguments in January to weigh President Trump’s bid to fire her.

📈 Earnings wrapup

• Conagra’s Profit, Sales Fall as Consumers Cut Back on Snacks
• Cal-Maine Foods Bets on Specialty Eggs, Prepared Foods as Profit, Sales Rise
• BlackBerry CEO Says Automotive Software Business Underpins Nascent Turnaround

📰 Other headlines

• U.S. Factory Activity Contracts at Slower Pace
• Bank of Canada Cut Rates Despite Uncertainty On Inflation Outlook, Minutes Say
• Marketing Is Helping Carnival Charge More for Its Cruises
• Automakers Brace for EV Sales Plunge After Tax Credit Expires
• The IT Executive Tasked With Revamping How Tesla Sells Cars
• U.S. to Take Equity Stake in Lithium Americas and Its Nevada Mining Project
• Corteva to Spin Seed Business Into Separate Company
• Meta Will Begin Using AI Chatbot Conversations to Target Ads
• Five States Sue Zillow, Redfin, Following FTC Lawsuit
• The Aussie Surfer Who Parlayed His Connections Into a $55 Billion Deal
• The Supreme Court Just Became the Last Line of Defense for Fed Independence

Grindr, the West Hollywood, Calif.-based LGBTQ+ dating platform, appointed John North as CFO, effective immediately. North most recently served as the chief executive and director of Lazydays Holdings, the recreational vehicles company. North succeeds Vanna Krantz, who said in July she was leaving the company to pursue other opportunities.

Five Below, the Philadelphia-based discount retailer, has hired Daniel Sullivan as CFO, effective Oct. 6. Sullivan most recently served as executive vice president and chief operating officer at consumer-products company Edgewell Personal Care, which last month announced his planned departure. Ken Bull, who stepped in as interim finance chief after Kristy Chipman left in June, will continue as chief operating officer.

—Terell Wright and Colin Kellaher contributed to today’s Ledger.

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