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Wal-Mart, seeking to drive customer traffic, enters the money transfer business with a bang

NEW YORK, N.Y. - Wal-Mart is delving deeper into financial services at its stores and shaking up the money transfer business. The world's largest retailer introduced a new money transfer service Thursday that it says will cut fees for its low-income customers by up to 50 per cent compared with similar services elsewhere. The Walmart-2-Walmart service is being rolled out in partnership with Ria Money Transfer, a subsidiary of Euronet Worldwide Inc. Shares of money-transfer companies MoneyGram and Western Union slid Thursday.

Wal-Mart takes on Western Union with store-to-store money transfers

By Phil Wahba (Reuters) - Wal-Mart Stores Inc said on Thursday it was launching a new domestic money transfer service called "Walmart-2-Walmart" in partnership with Euronet Worldwide Inc subsidiary Ria Money Transfer, competing directly with Western Union Co. Western Union shares were down 7.1 percent in premarket trading, while those of MoneyGram International Inc, which currently provides money transfer services for Wal-Mart, were down 14.6 percent. Euronet was up 4.2 percent.

US retail sales jump 1.1 per cent in March, best showing in 18 months, led by auto sales

WASHINGTON - U.S. retail sales in March rose by the largest amount in 18 months, led by strong gains in sales of autos, furniture and a number of other products. The Commerce Department said Monday that retail sales rose 1.1 per cent in March, the best showing since September 2012. The government also revised February to a 0.7 per cent gain, more than double its previous estimate. Sales had fallen in January and December.

Wal-Mart launches price-slashing organic foods

Wal-Mart announced Thursday a deal with organic foods pioneer Wild Oats to sell discounted organic products in its US stores, a move expected to shake up the booming sector. "We know our customers are interested in purchasing organic products and, traditionally, those customers have had to pay more," Jack Sinclair, executive vice president of grocery at Walmart US, said in a statement.

Wal-Mart teams up with Wild Oats to sell lower-priced organic food offering

NEW YORK, N.Y. - Wal-Mart is using its massive size to drive down the price of organic food items from tomato paste to chicken broth to make them more affordable for its low-income customers.

Walmart beefs up wholesale business in India

US retail giant Wal-Mart Stores plans to add 50 new wholesale stores in India as it seeks growth in a key market where it has been unable to launch retail stores. Walmart said it will open the new "cash and carry" stores over the next four to five years, adding to its 20 existing stores. It also plans to extend its e-commerce platform to members of the existing stores, which operate under the name Best Price Modern Wholesale. "Walmart is committed to India and we are excited about our growth plans," said Scott Price, chief executive of Walmart Asia.

Wal-Mart to open 50 more wholesale outlets in India after splitting from Indian partner

NEW YORK, N.Y. - Wal-Mart Stores Inc. says it will open 50 more wholesale stores in India over the next four to five years, adding to the current total of 20 in the country. These stores, known as cash-and-carry outlets, cater to retailers, rather than to individuals. Wal-Mart also said Tuesday it plans to launch an online operation for cash-and-carry customers in India.

Wal-Mart plans to open 50 wholesale stores in India over four-five years

HONG KONG (Reuters) - Wal-Mart Stores Inc <WMT.N> plans to open 50 additional wholesale stores in India over the next 4-5 years, company spokesman Anthony Rose said on Tuesday. The world's largest retailer already runs 20 wholesale stores in India. The retailer will also launch wholesale e-commerce operations this summer in the country, Rose added. (Reporting by Clare Baldwin in Hong Kong; Writing by Nandita Bose; Editing By Tony Munroe)

Huang's tale: from Walmart cashier to labor leader in China

By John Ruwitch DENGFENG, China (Reuters) - Huang Xingguo took a job as a cashier at a new Walmart store in his hometown in southern China for a steady paycheck and the prospect of upward mobility after a string of sales jobs and a run as a day trader. Five years later, he has landed on the frontlines of China's labor rights movement, an unlikely leader of several dozen workers seeking better severance pay after the store in the Hunan province city of Changde announced last month it was closing.

NYC parish wants Wal-Mart shareholder vote on board oversight of policies regarding gun sales

WILMINGTON, Del. - Attorneys for a church in Manhattan are asking a federal judge in Delaware to prohibit Wal-Mart from sending its annual proxy statement to shareholders because it doesn't include its proposal for a shareholder vote involving gun sales. The Episcopal parish that includes Trinity Church on Wall Street wants shareholders to vote on whether the board of Wal-Mart Stores Inc. should oversee management policy decisions on whether to sell products considered especially dangerous, harmful to Wal-Mart's reputation, or offensive to community and family values.
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