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International Business

  • VeriFone and Hypercom in deal to sell Hypercom’s U.S. payment systems business

    San Jose, Calif. -- VeriFone Systems and Hypercom Corp. announced that they have reached an agreement to sell the U.S. payment systems business of Hypercom to Ingenico S.A.

    The transaction is expected to close immediately prior to completion of VeriFone’s acquisition of Hypercom, which is expected to occur in the second half of 2011, subject to certain closing conditions.

  • HSN names new head of corporate strategy

    ST. PETERSBURG, Fla. -- HSN announced that Mitchell Hara has been appointed SVP corporate strategy/M&A, a newly created position, effective immediately.  He will report directly to Judy Schmeling, CFO of HSNi.

    In his new position, Hara will assist with the overall corporate strategy, identifying and developing new strategic initiatives and leading the strategic planning process for the company.  He will also evaluate and oversee potential strategic partnerships and transactions. 

  • TRU not playing around with new hire

    WAYNE, N.J. – Toys“R”Us announced that it has named the former head of one of the world's largest toy companies to serve as president of its U.S. business. Neil Friedman, who most recently served as president Mattel Brands, will now oversee all merchandising, marketing, store operations, merchandise presentation, global sourcing and product development, as well as merchandise planning and allocation for Toys"R"Us' 866 stores and online business in the United States.

  • We might lose and don’t know what it will cost

    Walmart this week filed its annual report on form 10-K with the Securities and Exchange Commission, and in keeping with good disclosure practices around risk factors the company offered an update on the sex discrimination case that has been all over the news.

  • New leadership named at Global Food Safety Initiative

    The Global Food Safety Initiative (GFSI), managed by The Consumer Goods Forum, announced that Yves Rey, corporate quality general manager Danone, has been appointed chairman elect to replace current chairman, Jürgen Matern, Metro AG, once he completes his mandate in February 2012. Yves Rey will become the sixth chairman of the Global Food Safety Initiative. 

  • Report: Wal-Mart details China plans

    New York City -- Wal-Mart Stores plans to expand its presence in the smaller cities of China, Ed Chan, CEO and president of the company’s China operations, said today at an investor meeting by video conference, Bloomberg reported.

    The discounter may also buy more land to build stores in China, which it predicted will be the world’s largest grocery market by 2014, according to the report. Wal-Mart is building its seventh Sam’s Club outlet in the northeastern port city of Dalian, on the first plot of land it bought in the country.

  • The new East and the old West

    Walmart’s past and future collided this week in a stark juxtaposition of events. While the company’s lawyers were engaged in oral arguments before the U.S. Supreme Court stemming from events in the past, senior executive of the international division were gathered with financial analysts in a hotel ballroom in Shenzhen, China to discuss the future.

  • H&M profit falls 30%

    New York City -- Hennes & Mauritz AB Thursday reported that its net profit in the first quarter fell 30% from a year earlier on “significantly higher” cotton prices, higher transportation costs and a stronger Swedish krona. The chain said profit in the quarter ended Feb. 28 fell to 2.62 billion Swedish kronor ($414 million).

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