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China fines Wal-Mart, Carrefour for overpricing
Beijing -- China said Wednesday it is fining Wal-Mart and Carrefour stores up to $75,900 for overpricing, expressing concerns about price inflation ahead of the impending Lunar New Year holiday.
A statement posted Wednesday on the National Development and Reform Commission website listed about a dozen stores across the country that engaged in overpricing, noting high charges on items ranging from underwear to dumpling powder. -
Consumer confidence in January climbs to eight-month high
Washington, D.C. -- The Conference Board said Tuesday that its Consumer Confidence Index reached its highest level in eight months as Americans grew more optimistic about the job market.
The Index climbed to 60.6 this month, up from 53.3 in December. While that reading surpassed expectations, it still falls short of the 90 level that indicates a healthy consumer mindset.
The January figure was the highest since last May's 62.7, and hasn’t been above 90 since the recession began in December 2007.