Legislative, Regulatory & Legal

New York -- A group of Rona Inc.'s dealers on Wednesday released an open letter on Wednesday that criticized the proposed takeover of the Canadian home-improvement retailer and distributor by Lowe’s Cos., Reuters reported.

The letter, which was addressed to Lowe's CEO Robert Niblock, was signed by merchants that operate 164 affiliate or franchise Rona stores.

Arlington, Va. -- The Retail Industry Leaders Association criticized the proposed swipe fee settlement and urged class plaintiffs to reject the proposal. Announced in July, the proposed settlement stems from lawsuits challenging the anticompetitive swipe fee practices of Visa and MasterCard.

ARLINGTON, Va. — The Retail Industry Leaders Association criticized the proposed swipe fee settlement and urged class plaintiffs to reject the proposal. Announced in July, the proposed settlement stems from lawsuits challenging the anticompetitive swipe fee practices of Visa and MasterCard.

New York -- California and Indiana have the highest statewide sales taxes in the country, but Tennessee and Arizona take top billing when local sales taxes are added to the calculation, according to a new analysis by the Tax Foundation, a Washington, D.C.-based think tank that monitors fiscal policy at the federal, state and local levels.

New York -- According to multiple reports citing anonymous sources, Restoration Hardware chairman and co-CEO Gary Friedman has stepped down after an internal investigation into a relationship he had with a 26-year-old female employee.

Friedman was confronted with findings that he had had an intimate relationship with the employee, who has since left the company. To look into the matter, the board of directors formed a special investigative committee and brought in an outside law firm to conduct the inquiry.

It may be the right thing to do long-term, but Walmart’s plans to slow growth in China, Mexico and Brazil didn’t sit well with investors this week.

The revelation that Walmart would add between 21 and 23 million square feet of space versus the previously planned addition of 30 to 33 million square feet will result in Walmart International spending between $4.6 billion and $5 billion compared to a previously budgeted amount of $5 billion to $5.5 billion.

New York -- Bloomberg reported Thursday that Macy’s Inc. has filed suit against J.C. Penney Co. in New York state court over the rights to sell products branded by Martha Stewart Living Omnimedia Inc. in their respective department stores.

Macy’s sued Martha Stewart Living in January to stop it from executing a sales agreement with J.C. Penney, as Macy’s claimed an exclusive right to sell Martha Stewart products in certain categories.

Mexico City -- Multiple reports on Wednesday revealed that Wal-Mart Stores’ Mexican arm has been leveled with new allegations concerning tax evasion and money-laundering schemes.

The accusations against Walmex were outlined in a letter by U.S. Rep. Henry Waxman, sent Tuesday to Wal-Mart CEO Michael Duke and suggesting that the company “"may have had compliance issues relating not only to bribery, but also to 'questionable financial behavior' including tax evasion and money laundering in Mexico."