- There were quiet celebrations in the offices of Prime Minister Manmohan Singh late last week after he stunned the country with a slew of steps to revive the tanking economy.
- The government of India, the world's 10th largest economy by gross domestic product, passed wide-ranging laws on Friday expanding foreign investment in the retail, broadcasting and airline sectors, opening its doors to companies like Wal-Mart Stores Inc. (NYSE: WMT) amid slowing growth.
- Facebook Inc. (FB), Wal-Mart Stores Inc. (NYSE: WMT) and Walt Disney Co. (NYSE: DIS) face fresh patent suits from a University of California patent licensee, which sued some of the biggest U.S. companies previously, Reuters reported.
- Toys ''R'' Us is introducing a tablet for children, and the new product will not be available online. The Tabeo, as the new tablet is called, can be pre-ordered over the Internet but it is only available in Toys "R" Us stores.
- Costco Wholesale Corporation (NASDAQ: COST) stock price touched an all-time high on Thursday, a day after co-founder and former CEO James Sinegal addressed the Democratic National Convention.
- Electronic Arts Inc. said in a statement Thursday that "Madden NFL 13," the latest iteration of its iconic football video game franchise, sold about 900,000 in its first 24 hours on retail shelves. Citing "internal estimates," EA said the sale was a 7 percent increase from last year's launch, making it the highest-performing launch title for the franchise for the console generation.
- Sears Holdings Corp. (Nasdaq: SHLD), which revolutionized retail in the 20th century with its mail order catalogs. will be removed from the S&P 500 Index at the end of Sept. 4, according to Standard & Poor's, after struggling to lure consumers amid the weak economy.
- Can Richard Schulze, the 71-year-old founding CEO of Best Buy Co. (NYSE: BBY) put his money where his mouth is? Can he fork up billions from private eqiuity behemoths like KKR (NYSE: KKR)?
Money's Winners And Losers: NY Fed And AIG, Gawker Media, Eli Lilly, ZeekRewards, Best Buy, Fisker AutomotiveEach week, we pick the biggest, most dramatic, or most interesting winners and losers in money and business. Our picks for Aug. 19-24 include the Federal Reserve Bank of New York and Eli Lilly & Co. on one side, and ZeekRewards and Best Buy Co. Inc. on the other side.
- Wal-Mart, the world's largest retailer, is expanding its immunization offerings in the U.S. to help lift domestic revenue to levels it is achieving outside the U.S.
- After beating market expectations earlier this month with its second-quarter earnings, Target Corporation (NYSE: TGT) has managed to remain competitive against the king of low prices: Wal-Mart Stores Inc. (NYSE: WMT).
- Unemployment is still well above 8 percent, the cost at the pump is rising and consumers are still wary and cost-conscious, but recent surveys indicate back-to-school buys and the upcoming holiday shopping season will be as good as or better than last year. Still, the theme of the season is cautious optimism.
Kids Vitamins: Get Your Refund Here After $2.1 Million Settlement For False Eye, Brain Health ClaimsIf you bought kids vitamins featuring Disney and Marvel characters, you're entitled to a refund after the companies peddling the products entered a $2.1 million settlement with the government for making false and unsubstantiated claims.
- Wal-Mart Stores Inc. (NYSE: WMT), the world's largest retailer, said Thursday increased sales from U.S. stores that have been open at least one year plus strong international sales lifted its fiscal third-quarter profit 5.7 percent.
- Liberal groups that have been boycotting radio broadcaster Rush Limbaugh for months have apparently drawn blood: aside from winning withdrawals of more than 100 advertisers, second-quarter revenue from 10 stations owned by Cumulus Media (Nasdaq: CMLS) declined due to the boycott, CEO Jim Dickey said.
- Wal-Mart Stores Inc [WMT], Target Corp. [TGT], 7-Eleven Inc., and Sunoco Inc. [SUN] are poised to announce their rival to the Google Wallet payment system, which launched on Android powered phones last year, the Wall Street Journal revealed. When it does launch, MCX will join the multi-billion dollar race to develop mobile phone payment systems, which propose to do away with cash and card transactions.