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Wal-Mart sues CVS over hiring of former exec
New York City -- Wal-Mart Stores has filed suit against CVS Caremark Corp. to prevent CVS from hiring former Wal-Mart executive Hank Mullany, according to a Friday report by Bloomberg.
CVS’s hiring of Mullany, former president of Wal-Mart’s northern U.S. division, would violate a noncompete agreement, Wal-Mart said in the complaint filed Thursday in Delaware Chancery Court.
According to Wal-Mart’s complaint, CVS has indicated that it intends to hire Mullany without regard to the agreement.
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Jobless claims drop in past month
Washington, D.C. -- Fewer Americans filed claims for unemployment insurance payments over the past month, indicating some positive movement in the job market.
According to the latest labor department figures, the number of applications for jobless benefits averaged 431,000 a week over the month ended Nov. 27, the lowest level since August 2008. Claims increased by 26,000 last week, more than forecast, to 436,000, after reaching a two-year low.