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Business - Wal-Mart says found China pricing discrepancies in 2011

(Reuters) - Wal-Mart Stores Inc said it discovered discrepancies in pricing and inventory at its China operations in 2011 and has since reinforced its compliance policies in the country. The issues were not material to the company`s operations, Wal-Mart China spokesman Raymond Bracy said in a statement on Thursday. Wal-Mart implemented a `prescriptive action plan` after an extensive investigation involving external legal and accounting firms. Leadership changes were made and disciplinary action taken, Bracy said in the statement, without giving details. ...

Thursday, December 11, 2014  10:35


Business - Wal-Mart`s unauthorized ways made China business look strong: Bloomberg

(Reuters) - Wal-Mart Stores Inc has been using questionable accounting and unauthorized sales practices to make its retail business in China appear stronger, Bloomberg reported, citing internal documents and interviews with employees. The sales practices, which include bulk sales to other retailers and sales being allegedly booked when no merchandise left the shelves, made business appear strong even as retail transactions slowed and unsold inventory piled up, Bloomberg reported. Representatives at Wal-Mart did not immediately respond to a request for comment. ...

Thursday, December 11, 2014  06:56


Business - Wal-Mart chief merchandiser departs just before Black Friday: memo

(Reuters) - Wal-Mart Stores Inc Chief Merchandising Officer Duncan Mac Naughton has decided to leave the retailer to pursue new opportunities, according to a company memo provided to media. The move comes as Wal-Mart and other retailers gear up for the holiday shopping season. Greg Foran, head of the retailer`s U.S. operations, said in the memo that he had decided not to name a new chief merchandising officer at this time and would have other team members report directly to him. (Reporting by Nathan Layne; Editing by Lisa Von Ahn)

Tuesday, November 25, 2014  16:12


Business - Wal-Mart`s chief merchandising officer to leave: WSJ

(Reuters) - Wal-Mart Stores Inc`s Chief Merchandising Officer Duncan Mac Naughton is expected to announce his departure from the world`s largest retailer just days before Black Friday, the Wall Street Journal reported, citing people familiar with the matter. Mac Naughton joined the company in 2009 as chief merchandising officer of Wal-Mart Canada and moved over to the merchandising operations at the U.S. business in 2010, the Journal said. ( Representatives at Walmart did not immediately respond to an email seeking comment outside regular business hours. ...

Tuesday, November 25, 2014  06:39


World - Mexico probes officials who authorized Chinese product mart

MEXICO CITY (AP) Mexican prosecutors are calling for an investigation of environmental authorities who approved a huge trade center intended to showcase Chinese products near the resort city of Cancun.

Tuesday, February 10, 2015  21:37


NBA - Thomas scores 18, Celtics hold off Knicks for 96-92 win

Isaiah Thomas scores 18, Jae Crowder 17 as Celtics hold off Knicks for 96-92 win

Saturday, March 28, 2015  03:19


World - Syrian government shells kill 18 in south, activists say

BEIRUT (AP) Syrian government airstrikes and shelling in the country`s south killed at least 18 people on Thursday, including three children, opposition activists said.

Thursday, March 26, 2015  18:14


World - Activists: Syrian government shells kill 18 in southern city

BEIRUT (AP) Syrian opposition activists say airstrikes and shelling by government forces have killed at least 18 people in a city in the country`s south.

Thursday, March 26, 2015  17:33


World - Glasgow, Berlin to host European Sports Championships in `18

LONDON (AP) Track and field and swimming are among the sports that will feature in a new European championships to be held in 2018 in Germany and Scotland.

Thursday, March 26, 2015  12:57


World - 18 killed as rebels clash with pro-govt forces in south Yemen

At least 18 people died Thursday in clashes between supporters of President Abedrabbo Mansour Hadi and Shiite rebels advancing on a town bordering Aden, where the internationally backed leader has sought refuge, a local official said. The clashes erupted in Huta, capital of the southern Lahj province, when the pro-Hadi `popular committees` were resisting a rebel advance, the official said.

Thursday, March 26, 2015  11:27

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