Tesco Barely in Profit as it Prepares U.S. Exit
(LONDON) — Tesco PLC, Britain’s largest supermarket operator, says it is looking to sell its U.S. operations after failing to make an impression over six years. Tesco said Wednesday that net profit for the year dropped 96 percent to 120 million pounds ($183 million) following a 1.2 billion pounds writedown to exit its Fresh & Easy brand in the U.S. It also took an 804 million pounds writedown on its U.K. property portfolio. Fresh & Easy has nearly 200 stores in California, Arizona and Nevada. Tesco says it is also leaving Japan and taking a more measured approach to growth in China. Chief Executive Philip Clarke told the BBC that the decision to leave the United States was right for shareholders and that the company was looking for a single buyer. MORE: How the Entry of Walmart and Big Retail Chains Will Change India
United States: Employee Asked To Wear French Maid's Costume Not Sexual Harassment - Fenwick & West LLP
In "Westendorf v. West Coast Contractors of Nevada, Inc.", the Ninth Circuit upheld the dismissal of a sexual harassment complaint.
Found 1 month ago on channel Mondaq
Uptick in Foreclosures: Florida Leads Nation
According to real estate data-supplier RealtyTrac , U.S. foreclosure starts increased 2 percent from February to March, the second straight monthly increase following three consecutive monthly decreases. Florida, Nevada and Illinois posted the highest foreclosure rates for the first quarter, according to RealtyTrac's March and first quarter U.S. Foreclosure Market Report . Florida had the most foreclosures of any state—one in every 104 housing units, or nearly three times the national average.
Under the Gun: Businesses Pressured, Punished in States Passing Tough Gun Regulations
States have been passing tougher gun laws with the hopes of preventing another Newtown. But lawmakers are facing the possibility that their efforts to save lives may be killing local businesses and jobs. In early April, Connecticut lawmakers passed new gun-control regulations that are among the strictest in the nation. For the most part, the new rules don’t prevent local factories from producing guns and ammunition like they have for decades. And yet several weapons manufacturers are actively exploring options for relocating to a new state. A Hartford Courant article explained why: The trouble is not the direct effects of the ban — they’re allowed to continue manufacturing, and each firm will lose a few percentage points of their sales — but rather, the companies’ standing in an industry where customers famously punish certain brands. (MORE: The Hidden Cost of Tax Refunds) Connecticut weapons manufacturing firms have been flooded with emails from gun enthusiasts, like this one ...
Jury Awards $500 Million Damages in Hepatitis Case
A Nevada jury said two UnitedHealth units should pay a total of $500 million in punitive damages in a case involving two members who contracted hepatitis C, an award that will draw close attention in the health-insurance industry.