On the 23rd of November, the Indian joint venture of Wal-Mart Stores Inc. and Bharti Enterprises Ltd informed that its several workers had been suspended as part of a probe launched by the world’s biggest retailer into alleged serious infringements of US anti-bribery laws at some of its foreign units. The accusation could slow down and even destroy the Wal-Mart Stores Inc.’s attempt to open its stores in India.
Wal-Mart Stores Inc. is moving its Black Friday deals even earlier this year as they are to start at 8 p.m. on Thanksgiving Day. The world’s largest retailer has announced three waves of deals this year and at the same time it has assured that all its clients will be able to get their Black Friday deals.
Wal-Mart Stores Inc. vowed retailers to reject the $6 billion credit card fee settlement that Visa Inc., MasterCard Inc. and other major banks had agreed to pay to retailers. More than 50 lawsuits have been filled since 2005 against Visa, MasterCard and other banks that issue the payment networks’ cards. Banks and card companies decided to reach the settlement with retailers and proposed the $6 billion credit card fee settlement.