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Yahoo

Business - Wal-Mart replaces head of struggling U.S. business


Wal-Mart Stores Inc replaced its U.S. head Bill Simon with Asia chief Greg Foran as it seeks to restore the fortunes of its largest business after a year of sluggish sales. A 35-year retail veteran who started out as a teenage part-timer stocking supermarket shelves, Foran is being moved to the United States just two months after becoming the head of Wal-Mart`s Asia business. Wal-Mart said on Thursday that Simon - who joined the retailer in 2006 and has headed its U.S. business since 2010 - would stay on as a consultant for six months and the parting was `amicable`. Foran, 53, joins Wal-Mart`s U.S. business at a time the company is struggling to retain its traditional low-income customers.


Thursday, July 24, 2014  18:02

Yahoo

Business - Wal-Mart replaces U.S. business head with Asia chief


(Reuters) - Wal-Mart Stores Inc replaced its U.S. business head Bill Simon with Asia chief Greg Foran to turn around its largest business, where sales have been sluggish for at least a year. Wal-Mart shares fell 1 percent in early trading on the New York Stock Exchange. Foran, 53, will assume his new role on Aug. 9 and Simon will be `transitioning out the company,` Wal-Mart said in a statement on Thursday. Simon, who has headed the world`s largest retailer`s U.S. business since 2010, will be consulting for the company for six months, Wal-Mart said.


Thursday, July 24, 2014  14:43

Yahoo

Business - Wal-Mart says Asia chief Greg Foran to now head U.S. business


(Reuters) - Wal-Mart Stores Inc said Greg Foran, the head of its Asia business, would now lead its struggling U.S. business. Foran, who replaces Bill Simon, will take over his new role on Aug. 9, the company said. Wal-Mart`s U.S. same-store sales have remained sluggish for at least a year. (Reporting by Siddharth Cavale in Bangalore; Editing by Kirti Pandey)


Thursday, July 24, 2014  14:03

Yahoo

World - Israeli shelling kills at least 15 in UN Gaza shelter - health ministry


By Nidal al-Mughrabi GAZA (Reuters) - At least 15 people were killed and many wounded on Thursday when Israeli forces shelled a U.N.-run school sheltering Palestinians in northern Gaza, said a spokesman for the Gaza health ministry, Ashraf al-Qidra. The director of a local hospital said various medical centers around Beit Hanoun in the coastal enclave were receiving the wounded. `Such a massacre requires more than one hospital to deal with it,` said Ayman Hamdan of the Beit Hanoun hospital. ...


Thursday, July 24, 2014  16:29

Yahoo

World - Top Asian News at 10:30 p.m. GMT


TAIPEI, Taiwan (AP) — A plane attempting to land in stormy weather crashed on a small Taiwanese island late Wednesday, killing 47 people and wrecking houses and cars on the ground. The ATR-72 operated by Taiwan`s TransAsia Airways was carrying 58 passengers and crew when it crashed on Penghu in the Taiwan Strait between Taiwan and China, authorities said. The plane was arriving from the city of Kaohsiung in southern Taiwan.


Wednesday, July 23, 2014  23:50

Yahoo

World - Top Asian News at 10:00 p.m. GMT


TAIPEI, Taiwan (AP) — A plane attempting to land in stormy weather crashed on a small Taiwanese island late Wednesday, killing 47 people and wrecking houses and cars on the ground. The ATR-72 operated by Taiwan`s TransAsia Airways was carrying 58 passengers and crew when it crashed on Penghu in the Taiwan Strait between Taiwan and China, authorities said. The plane was arriving from the city of Kaohsiung in southern Taiwan.


Wednesday, July 23, 2014  23:23

Yahoo

World - Bahrain asks court to temporarily suspend two more opposition groups


Bahrain has asked a court to temporarily suspend the activities of two more opposition groups, state news agency BNA said on Thursday, in a move that could further deepen political tensions in the Gulf Arab state. The decision came less than a week after the Justice Ministry filed a lawsuit against Bahrain`s main opposition group, Al-Wefaq National Islamic Society, citing what it said were legal violations committed in running its activities. Bahrain, home to the U.S. Fifth Fleet, quelled a popular uprising in 2011 when majority Shi`ite Muslims led mass protests demanding a greater role in running the Sunni-ruled island state, but low level civil unrest has persisted. BNA said the Justice Ministry had asked a court to stop the Justice and Development Movement (JDM) from working for three months `until it rectifies its legal status in accordance with the law and its own rules`.


Thursday, July 24, 2014  18:29

Yahoo

World - EU targets state-owned Russia banks in sanctions plan


By Justyna Pawlak and Adrian Croft BRUSSELS (Reuters) - The European Union would target state-owned Russian banks vital to financing Moscow`s faltering economy in the most serious sanctions so far over the Ukraine crisis under proposals considered by EU governments on Thursday. Ambassadors of the 28-nation bloc met in Brussels to discuss options drafted by the executive European Commission in response to the downing of a Malaysian airliner in an area of eastern Ukraine held by Russian-backed separatists. `If implemented such sanctions would be a serious blow to the Russian economy, exacerbating an already very likely recession this year and sustaining an economic depression for longer,` said analyst Michal Dybula of BNP Paribas. The proposals included an arms embargo, although diplomats said it would apply to future deals and would not bar delivery of a French warship built for Russia under a 2011 contract.


Thursday, July 24, 2014  15:49

CNN

World - Taiwan plane crash kills 48


At least 48 people were killed and 10 injured when a twin-engine turboprop plane crashed while attempting to land in Penghu Islands, according to Taiwan`s Civil Aeronautics Administration.


Thursday, July 24, 2014  13:35

Yahoo

Business - American Airlines declares first dividend since 1980 as profit rises


(Reuters) - American Airlines Group Inc said on Thursday it will pay its first dividend since 1980 and buy back stock as it reported higher second-quarter earnings. American, the largest airline by traffic, formed from the late-2013 merger of US Airways and AMR Corp, declared a dividend of 10 cents a share for shareholders of record Aug. 4. American also said it planned a $1 billion share repurchase program and would make additional pension contributions.


Thursday, July 24, 2014  13:08

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