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Costco financial incentives approved by New Orleans City Council
New Orleans -- New Orleans has rolled out the red carpet in order to assure the first Costco location in the state.
The city council on Thursday unanimously approved nearly $6 million in financial incentives for a planned Costco in the New Orleans suburb of Carrollton.
The $45 million, 148,000-sq.-ft. Costco marks the warehouse club operator’s state debut, to reportedly be followed by a second in the capital city of Baton Rouge.
The New Orleans store is slated to open late summer 2013.
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Report: U.S. considers wide-ranging retail bribery investigation
Chicago -- A Thursday report compiled by Reuters and published in the Chicago Tribune said that U.S. authorities are weighing whether or not to launch a wide-scale investigation of the retail industry for bribery violations.
The news comes after Wal-Mart de Mexico came under scrutiny for potentially violating an anti-foreign bribery law, allegedly orchestrating bribes of $24 million to facilitate its growth in the region.