Content about Acronyms

March 28, 2014

Wal-Mart Stores Inc. filed suit with the U.S. District Court for the Western District of Arkansas suing Visa for $5 billion, alleging that the financial services company overcharges on the credit and debit card swipe fees it charges retailer.

Bentonville, Ark. – Wal-Mart Stores Inc. filed suit with the U.S. District Court for the Western District of Arkansas suing Visa for $5 billion, alleging that the financial services company overcharges on the credit and debit card swipe fees it charges retailer.

The suit claims that Visa colluded with banks to fix swipe fees between January 2004 and November 2012, forcing it to raise prices and reduce customer service, resulting in lost retail sales.

July 19, 2012

The July 13 settlement of a lawsuit over allegedly fixed credit card interchange fees is a credit positive for the two largest industry players Visa and Mastercard, but will have a smaller impact on merchant acquirers, retailers and banks, said Moody’s Investors Service in a new special comment "Credit Card Interchange Fee Settlement is Credit Positive For Visa, MasterCard."

The July 13 settlement of a lawsuit over allegedly fixed credit card interchange fees is a credit positive for the two largest industry players Visa and Mastercard, but will have a smaller impact on merchant acquirers, retailers and banks, said  Moody’s Investors Service in a new special comment "Credit Card Interchange Fee Settlement is Credit Positive For Visa, MasterCard."

September 28, 2011

U.K. retailer ASDA Stores Ltd., a division of Wal-Mart, will roll out Single Touch Systems’ mobile-based Grocery Delivery Notification Program.

Encinitas, Calif. -- U.K. retailer ASDA Stores Ltd., a division of Wal-Mart, will roll out Single Touch Systems’ mobile-based Grocery Delivery Notification Program. It is Single Touch’s first business win outside the United States.”

July 1, 2011

Wal-Mart Stores announced Friday that its U.K.-based Asda unit has promoted Judity McKenna to the position of COO.

Bentonville, Ark. -- Wal-Mart Stores announced Friday that its U.K.-based Asda unit has promoted Judity McKenna to the position of COO.

McKenna is currently Asda’s finance director.

June 21, 2011

A Tuesday report by Bloomberg said that the COO of Wal-Mart’s Asda supermarket unit has quit after just six months in the position.

London -- A Tuesday report by Bloomberg said that the COO of Wal-Mart’s Asda supermarket unit has quit after just six months in the position.

Bloomberg, which sourced a report in the Daily Telegraph, said that Simon King, a former head of Tesco PLC’s Turkish operations, left immediately. No successor has yet been named.

May 17, 2011

A report in the Belfast Telegraph Tuesday said that Wal-Mart-owned supermarket chain Asda has released plans to open its first George stores overseas as it looks to turn the fashion label into a global retail brand.

Belfast, Ireland -- A report in the Belfast Telegraph Tuesday said that Wal-Mart-owned supermarket chain Asda has released plans to open its first George stores overseas as it looks to turn the fashion label into a global retail brand.

The chain has set up a team at George's Lutterworth, Leicestershire base to explore entering into franchise arrangements for the first time. According to the report, George expects to announce its first partner in the Middle East in the next few months, followed by store openings in the first half of 2012.

March 24, 2011

L.L. Bean announced it will implements free standard shipping to all United States and Canadian addresses effective March 25.

Freeport, Maine -- L.L. Bean announced it will implements free standard shipping to all United States and Canadian addresses effective March 25.

“We tested free shipping offers with no minimum purchase for several months and the customer response was overwhelming,” said Chris McCormick, president and CEO, L.L. Bean, Freeport, Maine. “It’s our opportunity to offer free shipping for all U.S. and Canadian customers with no minimum purchase, no end date, no conditions -- guaranteed.”

January 4, 2011

A Tuesday report by the Financial Times said that Andy Bond, former CEO of Asda, has left his post of part-time chairman of the United Kingdom’s second biggest supermarket by market share, a position that he has held for less than a year.

London -- A Tuesday report by the Financial Times said that Andy Bond, former CEO of Asda, has left his post of part-time chairman of the United Kingdom’s second biggest supermarket by market share, a position that he has held for less than a year.

The report also said that Bond will leave Walmart as well, which owns Asda, once its $2.4 billion deal to acquire a majority stake in South Africa’s Massmart is complete around the end of March.

September 26, 2010

Walmart and Africa’s leading retailer Massmart Holdings Ltd. are in talks that could lead to...

July 16, 2010

On Wednesday, Visa Inc. launched a new payment card security initiative that the company said could eliminate the need for retailers and other organizations to store full, 16-digit credit and debit card numbers on their systems.

The move comes in response to long-standing pressure from the National Retail Federation, which maintains that merchants should not be required to store the information because of security risks.

July 14, 2010

On Wednesday, Visa Inc. launched a new payment card security initiative that the company said...

May 20, 2010

U.K. supermarket groups Tesco and J Sainsbury said they will match rival Asda Group Ltd....

May 18, 2010

The Walmart-owned retailer that is Britain’s second-largest grocer experienced a sales dip of 0.3% in...

May 10, 2010

Wal-Mart Stores announced Tuesday that its British grocery subsidiary Asda named current COO Andy Clarke...

January 27, 2009

Asda, Britain's second-biggest grocer, plans to create about 7,000 jobs this year and committed to...

February 19, 2008

Asda Group Ltd. unveiled a $776 million expansion that will create more than 9,000 jobs this year....

October 26, 2005

San Francisco, Visa...

July 4, 2005

Leeds, England, The...

March 21, 2005

London, Wal-Mart Stores...

March 17, 2005

London, Wal-Mart-owned Asda...

March 10, 2005

London, Asda, Britain’s...