Gig Economy & Retail Stores
The drop in U.S. demand for high-end jewelry in a slumping economy is having ripple effects around the globe as stores close, workers are laid off in mass in the diamond-polishing factories of Gujarat, and countries like Botswana experience a dramatic drop in diamond revenue.
Shopping in a Target store, you know you're not in Wal-Mart. But, critics say that in terms of working conditions, sweatshop-style foreign suppliers, and effects on local retail communities, big box Target stores are very much like Wal-Mart, just in a prettier package.
Skyrocketing energy prices propelled ExxonMobil (XOM) to the top of the 2006 Fortune 500 list, and consigned Wal-Mart (WMT) to the No. 2 spot on the magazine's annual ranking of the nation's largest publicly traded companies.
Berlin's European Film Market became the backdrop for yet another verbal battle between Wal-Mart and its filmmaker nemesis Robert Greenwald on Tuesday. The Greenwald-directed film "Wal-Mart: The High Cost of Low Price" made for hot sales but heated words at the market.
Wal-Mart said it will build the stores in neighborhoods with high crime or unemployment rates, on sites that are environmentally contaminated, or in vacant buildings or malls in need of revitalization.
In the wake of the multiple scandals over tainted Chinese food and drug exports in recent months, Chinese goods now have an indelible image of being not just cheap, but life-threatening as well. But the fact that wrongly labelled foods, liquor and pharmaceuticals have routinely sickened and even killed people en masse in China has been largely overlooked.
A state judge in Albany has found that Dell Inc. and its financing unit engaged in deceptive business practices related to financing promotions for its computers and technical support, New York Attorney General Andrew Cuomo said Tuesday.
Clothing chain retailer Forever 21 has been sued by the U.S. government for ignoring a subpoena requesting information on how much the company's suppliers pays the workers who make its clothes. Anecdotal evidence suggests that the salaries are well under the federal minimum wage of $7.25 an hour.