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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 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.

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.

Pricing Game: Wal-Mart's online tool compares rivals' prices, offers shoppers lowest

NEW YORK, N.Y. - The "Every Day Low Price" king is trying to shake up the world of pricing once again. Wal-Mart told The Associated Press that it has rolled out an online tool that compares its prices on 80,000 food and household products — from canned beans to dishwashing soap — with those of its competitors. If a lower price is found elsewhere, the discounter will refund the difference to shoppers in the form a store credit.

Wal-Mart kicks off spring with biggest sale ever on outdoor items

NEW YORK, N.Y. - Wal-Mart is hoping the same storms that kept shoppers away in the winter, will bring them into stores in the spring. Starting Friday, Wal-Mart is having a weeklong sale of up to 50 per cent on more than 60 outdoor items, including lawn mowers and bags of mulch. The world's largest retailer said the move, which pits it against home-improvement rivals Home Depot and Lowe's, is aimed at luring shoppers who are looking to restore patios and gardens that were battered by severe winter weather.

Wal-Mart offers disappointing outlook as it reports 21 pct drop in 4Q profit

NEW YORK, N.Y. - Much like its low-income shoppers, Wal-Mart can't seem to catch a break as the U.S. economy rebounds. The world's largest retailer on Thursday posted a 21 per cent drop in fourth quarter profit and gave a subdued forecast for the current year as it continues to be weighed down by a number of factors.

Wal-Mart: 4Q, full-year profits may now be at or slightly below low end of prior outlooks

BENTONVILLE, Ark. - Wal-Mart said Friday that key earnings figures may come in at the low end or below its prior forecasts for its fourth quarter and full fiscal year. It also said a widely-watched sales metric for the fourth quarter which includes the holiday season will be lower than its previous forecast. The news initially sent Wal-Mart shares lower but they were up by early afternoon.

Gov't complaint charges Wal-Mart with violating rights of protesting workers

WASHINGTON - Federal officials have filed a formal complaint charging that Wal-Mart violated the rights of protesting and striking workers last year. The National Labor Relations Board says Wal-Mart illegally fired, disciplined or threatened more than 60 employees in 14 states for participating in legally protected activities to complain about wages and working conditions.

Fox meat makes an ass of Wal-Mart's China donkey product

Global retail giant Wal-Mart Stores has recalled a donkey meat product from some Chinese stores after tests found traces of other animals' DNA, the company said Thursday, after authorities said it contained fox meat. The world's largest retailer will reimburse customers who bought the "Five Spice Donkey Meat" 50 yuan ($8.25), a spokeswoman told AFP. The company would also independently DNA test all of its "high risk" meats in China, a procedure which is not required by retailers under Chinese food laws, the spokeswoman said.

Labor Board general counsel prepared to file charges against Wal-Mart for labour violations

WASHINGTON - Federal officials said Monday they are prepared to file formal complaints against Wal-Mart for allegedly violating the legal rights of protesting workers last year. The National Labor Relations Board announced that its general counsel, Richard Griffin, found merit in charges that the retailer unlawfully threatened employees in California and Texas with reprisal if they engaged in strikes and protests ahead of Black Friday, the big shopping day after Thanksgiving.
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