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Entry By Wal-Mart Protested By Indian Politicians (NYSE: WMT)
India’s parliament has been stalled for a fifth day by politicians protesting Prime Minister Manmohan Singh’s plan to allow foreign companies like Wal-Mart Stores to join India’s retail sector. The plan would be the biggest change to foreign ownership rules in India in more than six years. The protest forced both houses of parliament to adjourn.
Congress’ leading allies criticized the decision...
Purchase Of Massmart By Wal-Mart Faces Appeal In South African Court (NYSE: WMT)
Lawyers for the South African government have requested a review of the decision to allow Wal-Mart to purchase a controlling stake in Massmart Holdings. Wal-Mart paid 16.5 billion rand ($2.6 billion) in June for a 51% stake in Massmart, South Africa’s largest food and general-goods wholesaler. The current ruling by the Competition Tribunal states that Wal-Mart could proceed with the deal on the...
Wal-Mart Announces Partnership With Facebook To Create Individual Pages For Local Stores (NYSE: WMT)
Wal-Mart Stores Inc. announced a partnership with Facebook to create pages specifically tailored for each of its more than 3,500 locations. These pages will be designed to recreate the feel of the local store and allow customers to get information on new products, events, and discount offers.
Shoppers who sign up with their local Wal-Mart store page will receive two notifications per week on special...
Thirteen Wal-Mart Stores Shuttered By Chinese City Officials (NYSE: WMT)
Government officials in the Southwestern Chinese city of Chongqing closed all 13 Wal-Mart stores in the city and fined the company $420,000 in a dispute over labeling. Wal-Mart has been cited and fined 21 times in Chongqing for misleading advertising or for selling substandard or expired food since 2006. The most recent incident began when the city accused Wal-Mart of labeling and selling pork...
Wal-Mart’s Plans For The Holiday Season Includes Layaway Program (NYSE: WMT)
In a recent announcement, Wal-Mart outlined its plans for the upcoming holiday season, including a plan to reintroduce its layaway program. The layaway program was discontinued in 2006 because it was viewed by management as obsolete, but recently consumers have demanded that the program be brought back as they are feeling more and more strapped by the contraction in the economy. With the nation’s...