World News

Wal-Mart, the world’s largest retailer, warned yesterday that the rising price of oil was beginning to take its toll on consumers.
The firm, which attracts 100 million shoppers to its American stores each week, posted its smallest profit gain in four years during the second quarter. It also cautioned that results in the current third quarter would be below Wall Street expectations.

Its shares fell by 3.3% in early trading, dampening the wider markets.

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Posted by Administrator as Business News at 9:55 PM PDT

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Murdoch views a setting son

Maybe Rupert Murdoch should take a leaf out of King Fahd’s book,” mused the Daily Telegraph’s City comment column on Tuesday. “The old king has died, yet it is business as usual in Saudi Arabia … But over in that other secretive kingdom, News Corporation, things are nothing like as cosy. The Murdoch heirs are all jostling for position. Will one of them launch a coup against their autocratic father?”
The cause of the upheaval was the unexpected resignation last week of Lachlan Murdoch, the 33-year-old eldest son of Rupert, as deputy chief operating officer of News Corp, to which he was also heir apparent.

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Posted by Administrator as Business News at 10:09 PM PDT

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Domestic partners supported by ruling

The state Supreme Court, in a decision with potentially far-reaching implications, ruled that businesses have to give registered domestic partners the same benefits extended to legally married spouses.

Ruling in a case involving a lesbian couple who sued Bernardo Heights Country Club in Rancho Bernardo over membership privileges, the justices issued a decision yesterday that firmly placed domestic partners on the same legal footing as married couples in dealings with businesses.

The ruling affirmed the state domestic partnership law, which went into effect Jan. 1, but sidestepped the larger issue of whether marital status is a protected category under the state’s civil rights law.

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Posted by Administrator as Business News at 10:09 PM PDT

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Oil price bites into Wal-Mart profits

Murdoch views a setting son

Domestic partners supported by ruling