The National Retail Federation called for President Obama to become involved in the ongoing contract negotiations between the International Longshore and Warehouse Union (ILWU) and Pacific Maritime Association (PMA) if a deal is not reached.
The 29 West Coast ports, which handle 44% of container cargo in the U.S., are currently running at approximately 50-60% capacity, according to a report released Thursday by CBRE Group, the world’s largest commercial real estate services and investment firm.
The National Retail Federation credited the “power of the marketplace” in Walmart’s decision to increase wages of approximately 500,000 full-time and part-time associates in April to $9 an hour, which is well above the Federal minimum wage.
The mobile payment market continues to heat up. On the heels of Samsung’s news that it will acquire mobile payment firm LoopPay, Visa Inc. announced it is expanding its online payment service, Visa Checkout.
The Kmart store in Chillicothe, Ohio, has scaled back its hours and grocery offerings in preparation for its switch from a 24-hour supercenter to the retail chain's new K-Fresh concept, according to a report by the Chillicothe Gazette.