Sears to shore up business units

21 Jan, 2008, 0355 hrs IST, Bloomberg
WASHINGTON: Sears Holdings, the owner of Kenmore appliances and the Mart and Sears retail chains, will appoint executives to run each of its business lines after saying profit may decline for a third straight quarter.
Each unit’s performance will have a designated leader and a group of executive advisers to [...]

Carrefour to buy Indonesian retailer for $71 mn

21 Jan, 2008, 1329 hrs IST, REUTERS
PARIS: Carrefour, the world’s second-largest retailer, said it has agreed to buy a 75 per cent stake in Indonesian group Alfa Retailindo for 674 billion Indonesian rupiahs ($71.47 million). The takeover comes as Carrefour continues its strategy to expand in fast-growing emerging markets, as it tackles competition and price [...]

UBI’s biometric smart cards launched

KARAIKUDI: Union Finance Minister P Chidambaram has launched Biometric Smart Card of Union Bank of India.
Hawkers and small traders could avail loan from the bank using the card, the minister said.
He also distributed about Rs 4 crore welfare assistance to nearly 400 people coming under BPL.
About 2,500 roadside traders and petty shop [...]

Pantaloon to hive off Big Bazaar, Food Bazaar

NEW DELHI: Kishore Biyani-promoted Future Group company Pantaloon Retail is hiving off four of its business divisions, including Big Bazaar and Food Bazaar, into independent subsidiaries, keeping the option open for listing them in future. The Board of Pantaloon Retail today approved setting up of wholly-owned subsidiary companies for Big Bazaar, Food Bazaar, Speciality Retail [...]