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Business - Wal-Mart CEO vows to end minimum wage pay in future

(Reuters) - Wal-Mart Stores Inc plans to improve opportunities for its employees so that in the future there will no longer be a few thousand workers on its payroll making minimum wage, the chief executive of the world`s top retailer said on Wednesday. The act of upgrading minimum wage positions would be largely a symbolic move for Wal-Mart. Currently only about 6,000 workers make the minimum out of its U.S. workforce of 1.3 million. Wal-Mart says its average full-time hourly wage is $12.92, compared with the federal minimum wage of $7.25. ...

Thursday, October 16, 2014  04:20


Business - Costco seeks China path that avoids Wal-Mart`s potholes

By Nandita Bose CHICAGO (Reuters) - By selling directly to Chinese consumers on Alibaba`s platform, a move announced Tuesday, Costco Wholesale Corp. aims to employ local knowledge and a low-cost structure to avoid missteps that caused even the world`s largest retailer, Wal-Mart Stores Inc. , to stumble. Many global retailers opening in China have struggled to find product mixes and store designs favored by local customers. Besides Wal-Mart, Best Buy , eBay and others have fallen short of expectations in one of the fastest-growing consumer markets. ...

Thursday, October 16, 2014  22:50


Business - Wal-Mart cuts full-year sales growth forecast

(Reuters) - Wal-Mart Stores Inc cut its full-year sales growth forecast, hurt by a stronger dollar and a bigger-than-expected impact from the cut in the government food stamp program last year. Shares of the world`s largest retailer fell 3.3 percent to $75.39 in late afternoon trading on Wednesday. Chief Financial Officer Charles Holley, at a meeting with investors and analysts, said he expected Wal-Mart`s sales to rise 2-3 percent from $473.1 billion last year. The company said in February it expected net sales growth to be at the lower end of its 3-5 percent forecast. ...

Wednesday, October 15, 2014  21:04


Business - EBay, Wal-Mart warnings stir holiday sales concerns

SAN FRANCISCO (Reuters) - EBay Inc on Wednesday joined Wal-Mart Stores Inc in cutting its outlook for the all-important holiday season, suggesting that the fourth quarter may turn out to be weaker than some analysts predicted as recently as last week. The warnings from two of the retail industry`s most influential players comes as investors re-assess the state of the global economy after weak data this week from the two largest countries, the United States and China. ...

Thursday, October 16, 2014  02:12


Business - Wal-Mart says to slow store openings, invest more in ecommerce

(Reuters) - Wal-Mart Stores , the world`s largest retailer, said on Wednesday it would open fewer stores in the U.S. in the next fiscal year and ramp up spending on e-commerce. The retailer will open 180-200 of its small format stores, called Neighborhood Markets, in the next fiscal year through January 2016, Greg Foran, head of the U.S. business, told a meeting of investors and analysts. That compares with its plan to open 270-300 of the small format stores in the current fiscal year. ...

Wednesday, October 15, 2014  15:27


Business - Wal-Mart to offer digital movie access to customers

(Reuters) - Wal-Mart Stores Inc is launching a new service for customers to access digital copies of movies they buy at its stores and website across all platforms. The world`s largest retailer, along with VUDU, rolled out a beta version of the service, InstaWatch, in collaboration with seven movie studios. These include DreamWorks Home Entertainment, Sony Pictures Home Entertainment, Warner Home Video and Twentieth Century Fox Home Entertainment. About 800 movies available at Walmart stores and 1,100 on will be a part of the program at the launch, the company said. ...

Wednesday, October 15, 2014  05:14


World - Qaeda insurgents kill 18 Houthis as Yemen sectarian conflict spreads

By Mohammed Ghobari SANAA (Reuters) - Al Qaeda-affiliated Sunni Muslim insurgents killed 18 Shi`ite Muslim Houthi rebels and seized an important city in central Yemen, tribal sources said on Monday, in a spread of sectarian conflict as central government authority has unraveled. The northern-based Houthis established themselves as power brokers in Yemen last month by capturing the capital, Sanaa against scant resistance from the weak administration of President Abd-Rabbu Mansour Hadi. ...

Monday, October 20, 2014  17:15


World - Suicide bomber kills 18 at Baghdad Shiite mosque

Baghdad (AFP) - A suicide bomber detonated explosives at a Shiite mosque in western Baghdad on Sunday, killing at least 18 people, security and medical officials said.

Sunday, October 19, 2014  19:36


World - Baghdad car bombs kill 18

Baghdad (AFP) - Car bombs exploded in crowded commercial areas of the Iraqi capital Friday, killing at least 18 people, the latest in a string of deadly blasts in the city, officials said.

Friday, October 17, 2014  20:07


World - 18 dead in clashes in Libya`s Benghazi: hospital

Benghazi (Libya) (AFP) - At least 18 people were killed Friday as Islamists and pro-government forces clashed in Libya`s second city of Benghazi, hospital sources said.

Friday, October 17, 2014  18:17

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