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Report: Wal-Mart in Japan insider trading probe
Tokyo - A report released Tuesday said that Japanese prosecutors will launch an investigation into possible insider trading involving shares of Wal-Mart's Japanese subsidiary Seiyu.
According to Reuters, which cited the Nikkei business daily website, the trading is suspected to have occurred when Wal-Mart turned Seiyu into a fully owned unit in 2007.
In early November, Japan's Securities and Exchange Surveillance Commission began an investigation into possible insider trading. Wal-Mart has said it would cooperate with authorities.
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Holiday off to positive start as retailers gear up for Cyber Monday
New York - The holiday shopping season got off to a positive if unspectacular start, according to preliminary results from the Black Friday weekend. The number of people who shopped at stores and online between Thursday and Sunday was up 8.7% to 212 million shoppers, according to a National Retail Federation survey of 4,306 shoppers conducted by BIGresearch. The total amount spent during the four-day weekend reached an estimated $45 billion, with the average spending rising 6.4% to $365.34, the survey showed.