CHICAGO (Reuters) – Wal-Mart Stores said it will start disclosing directly to investors what it spends on lobbying on a state-by-state basis, responding to shareholder pressure to improve transparency on how the retailing giant seeks to influence public policy.
The previously unreported move would make Wal-Mart the first constituent of the Dow Jones Industrial Average to break out state expenditures at that level of detail, drawing attention to spending that in some states reaches hundreds of thousands of dollars. Wal-Mart’s move could chart a course for others, just as rival retailers followed suit when it raised worker pay earlier this year.
NEW YORK/CHICAGO (Reuters) – A federal judge has rejected a bid from a group of banks and credit unions suing Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz) over its 2013 data breach to block the company’s proposed $19 million settlement with MasterCard Inc (MA.N: Quote, Profile, Research, Stock Buzz).
U.S. District Judge Paul Magnuson in St. Paul, Minnesota,
wrote in a ruling Thursday that the deal does not appear “altogether fair or reasonable” but he could not legally intervene without evidence that Target or MasterCard had made misleading or coercive statements.
HOFFMAN ESTATES, Illinois May 6 (Reuters) – The $2.5 billion
cash that Sears Holdings Corp’s proposed real estate
trust is expected to generate should muffle the retailer’s
“skeptics and cynics” for a while, Chief Executive Eddie Lampert
said on Wednesday.
And he is counting on a loyalty program to silence them for
Speaking at an annual shareholders meeting, the CEO
described the Shop Your Way loyalty program as a key competitive
advantage that allows it to squeeze more out of each customer
even as it shrinks its store base.
By Nathan Layne
MEMLO PARK, Calif. (Reuters) – In the 1980s when Sony and Toshiba were setting the agenda in the global TV and memory chip markets Japan was bristling with confidence as a hub of technological innovation.
Three decades later, with Japan’s electronics industry in decline, Prime Minister Shinzo Abe has come to Silicon Valley – the first sitting Japanese leader to do so – in the hopes of rekindling that innovative spark.
WASHINGTON/TOKYO (Reuters) – In the 1980s when Sony and Toshiba were setting the agenda in the global TV and memory chip markets Japan was bristling with confidence as a hub of technological innovation.
Three decades later, with Japan’s electronics industry in decline, Prime Minister Shinzo Abe is heading to Silicon Valley – the first sitting Japanese leader to do so – in the hopes of rekindling that innovative spark.
WASHINGTON (Reuters) – Prime Minister Shinzo Abe on Wednesday expressed “deep repentance” over Japan’s role in World War Two, even as he declared Tokyo’s emergence as a global security player in the face of China’s rising power in Asia.
Using the high-profile platform of a landmark speech to the U.S. Congress, Abe insisted that Japan must not avert its eyes from the suffering of Asian peoples from its wartime behavior but he stopped short of issuing his own apology, instead upholding statements by his predecessors.
WASHINGTON (Reuters) – President Barack Obama accused China on Tuesday of “flexing its muscles” to advance its maritime claims against Asian neighbors and assured Japanese Prime Minister Shinzo Abe of the U.S. commitment to defend Japanese territory, including tiny islands in dispute with Beijing.
Speaking at a joint news conference in the White House Rose Garden, Obama said a strong U.S.-Japan alliance should not be seen as a provocation to China, but he sought to put to rest any Japanese doubts on whether Washington would stand by Tokyo in a possible confrontation with Beijing.
WASHINGTON (Reuters) – Lester Tenney, a 94-year-old American survivor of the 1942 Bataan Death March, said he hoped to deliver a simple message about wartime responsibility to Japanese Prime Minster Shinzo Abe if the two meet in Washington this week.
That could happen on Wednesday night. Tenney is among about 200 people invited to a gala dinner hosted by the visiting Japanese leader.
By Nathan Layne
(Reuters) – A union working on behalf of Wal-Mart employees laid off in the sudden temporary closure of five stores filed a claim on Monday to the National Labor Relations Board accusing the retailer of retaliating against workers for organizing activity and seeking to get them rehired.
Wal-Mart Stores, which announced last week that it was temporarily closing five stores in Texas, Oklahoma, Florida and California to fix plumbing issues, denied the union’s claims. It said it would work to reopen the stores, which employed about 2,200 people, as quickly as possible.
By Nathan Layne
(Reuters) – Some employees accused Wal-Mart Stores Inc
on Friday of closing a location in the Los Angeles area
for six months in retaliation for workers demanding for better
wages and benefits.
The largest U.S. retailer denied the accusation, saying it
was temporarily closing five stores in four states to address
recurring plumbing problems. The closures include a location in
Pico Rivera, California, that has been a center of protests by
workers in recent years.