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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


Most Recent - 18 dead in protests marking Egypt revolution

Monday, January 26, 2015  01:54


Africa - At Least 18 Die in Egyptian Violence

After nearly 18 months of recurring police shootings at street protests since the military takeover in 2013, it was the deaths of two others killed over the weekend that most captured Egypt`s attention.

Monday, January 26, 2015  03:23


Middle East - At Least 18 Die in Egypt in Violence

After nearly 18 months of recurring police shootings at street protests since the military takeover in 2013, it was the deaths of two others killed over the weekend that most captured Egypt`s attention.

Monday, January 26, 2015  02:48


Africa - Eighteen killed in Egypt protests

At least 18 people are killed in Egypt during street protests marking the fourth anniversary of the start of the 2011 uprising.

Monday, January 26, 2015  01:19


Top Stories - Sex-predator sting operation nabs 18 men in Maryland

Some wanted sex with minors; others were downloading child porn on their computers, official said.

Friday, January 23, 2015  18:52


World - Mexican official says kidnapping investigations drop 18 pct

MEXICO CITY (AP) — Mexico`s national chief of anti-kidnapping efforts says investigations of abductions declined 18 percent last year, a development he credited to better state and federal coordination.

Thursday, January 22, 2015  02:16

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